Roman Abramovich, owner of English Premier League club Chelsea, announced he is actively seeking a buyer for the club and set a Friday deadline for potential suitors to submit "indicative offers." The Russian-Israeli billionaire, who is reportedly seeking at least $2.5 billion for the club, said he would donate the net proceeds from the sale to a charitable foundation "for the benefit of all victims of the war in Ukraine." (The New York Times)
The International Paralympic Committee banned athletes from Russia and Belarus from participating in the 2022 Paralympic Winter Games, which open tomorrow in Beijing, in response to the ongoing invasion of Ukraine. The decision came less than 24 hours after the IPC said it would allow Russians and Belarusians to compete as neutral athletes with colors, flags and other national symbols removed, with IPC President Andrew Parsons attributing the reversal to unanticipated backlash from other athlete delegations. (The Associated Press)
Fanatics Inc. raised $1.5 billion from new and current investors in a funding round that someone familiar with the deal said values the sports e-commerce giant at $27 billion. That figure represents a massive increase from August 2020, when the company was valued at $6.2 billion, and includes the core merchandise business, about 50 percent of Lids and a series of new business ventures such as trading cards, NFT platform Candy and a forthcoming sports betting venture. (Sportico)
COLLEGE SPORTS
Judge rules Under Armour must turn over documents related to SEC, DOJ investigations to UCLA Holden Wilen, Baltimore Business Journal
Under Armour Inc. must turn over documents related to the federal government's investigation into the company's accounting practices which led to a $9 million fine last year, a Los Angeles judge has ruled. UCLA sued Under Armour in 2020 after the company prematurely terminated a 15-year, $280 million sponsorship deal.
UCF Athletics expects to extend Nike agreement for 2 years Jason Beede and Matt Murschel, Orlando Sentinel
UCF Athletics is expected to extend its agreement with Nike for at least two more years, UCF athletics director Terry Mohajir said Tuesday. The deal, which was originally extended in 2016, ran through this year.
Yahoo Sports Signs Chet Holmgren And Paolo Banchero To NIL First Kristi Dosh, Forbes
Yahoo Sports is announcing it has signed Gonzaga's Chet Holmgren and Duke's Paolo Banchero to name, image and likeness deals to support its Yahoo Sports Tourney Pick'em bracket game. These are the first NIL deals for the promotion of bracket gaming.
