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Tag: Sports team ownership changes

  • Thorns to be sold amid fallout from women’s soccer scandals

    Thorns to be sold amid fallout from women’s soccer scandals

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    The owner of the Portland Thorns announced Thursday he is putting the club up for sale, the latest fallout from an investigation into misconduct in the National Women’s Soccer League.

    Merritt Paulson’s decision comes nearly two months after a pair of team executives were dismissed for their roles in systemic abuse and misconduct within the NWSL.

    Former acting U.S. Attorney General Sally Q. Yates and the law firm of King & Spaulding released results in early October of an investigation that detailed the series of abuses and misconduct that impacted multiple teams in the league, including the Thorns. U.S. Soccer retained Yates when a series of scandals rocked the league last year.

    Paulson had relinquished his decision-making role with the team in October. But calls had persisted for him to sell the Thorns.

    “The past year has been a challenging one for our club and our players. I regret the role our organization played in the failures identified by the investigations. Despite these challenges, the Portland Thorns have a bright future ahead and a lot left to accomplish,” Paulson said. “To fully realize that potential, I believe it is in best interest of the Thorns to have a new owner so that the club can operate at the league level with a fresh voice to be a driving force for the NWSL. This has been a difficult decision for me, but I believe this is the best way to position the Thorns for continued success during this next chapter of the NWSL and the sport.”

    The team doesn’t have a timeline for finding a buyer. A goal is to find an owner that will keep the team rooted in the Portland community.

    Paulson has owned the Thorns since the creation of the NWSL in 2013. The club has won three NWSL titles, including this year’s championship when it beat the Kansas City Current in the final.

    But the allegations of misconduct and the investigation by Yates have dogged the franchise for more than a year. The investigation was launched after two former players came forward with allegations of harassment and sexual coercion dating back a decade against former North Carolina Courage coach Paul Riley.

    Riley, who was fired, denied the allegations. He was one of five coaches in the league who were dismissed or stepped down last year amid claims of misconduct.

    The Yates report detailed how the Thorns mishandled complaints about Riley when he coached the team in 2014-15. In the wake of the report, the Thorns fired executives Gavin Wilkinson and Mike Golub.

    But some fans continued to call on Paulson to relinquish ownership. During the Thorns’ NWSL victory in the final at Audi Field, some fans held a sign that read: “Support The Players.”

    Those fans are getting their wish, although Paulson said the decision to sell the Thorns does not affect his ownership of his MLS franchise, the Portland Timbers. Paulson’s ownership group — Peregrine Sports LLC — also operates Providence Park, the home field for both teams.

    Paulson said he will work “to ensure a smooth transition and the continued success of the Thorns, including providing favorable usage terms for Providence Park.” Another lingering issue is development of a training facility for the Thorns, who have typically practiced at the stadium.

    “We are committed to continue to work collaboratively with the NWSL to ensure we find the right group to take the reins. We will not rush to a decision as we want to get it right for our players, for Portland and for women’s soccer,” Paulson said.

    Additionally, Paulson is contributing $1 million toward the establishment of an office within the NWSL focused on player safety.

    “I support Merritt Paulson’s decision to sell the Thorns, his commitment to aid in a smooth transition for a new ownership group in Portland, and the $1 (million) contribution to the league,” NWSL Commissioner Jessica Berman said in a statement. “This money will be used to launch a new NWSL Player Safety Department — coming out of this chapter in the NWSL’s history we will emerge stronger than ever before and make this a league the players are proud to play in.”

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    AP soccer: https://apnews.com/hub/soccer and https://twitter.com/AP—Sports

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  • Inflation or not, price of pro sports teams keeps going up

    Inflation or not, price of pro sports teams keeps going up

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    Inflation isn’t going to hurt the bankrolls of sports team owners.

    In fact, it may help.

    While the uber-rich will have to pay a little more for their eggs at the grocery store – just like everyone else – inflation isn’t likely to affect the bottom lines at their sports properties.

    “I’m resting pretty easy if I’m an owner,” said Tim Clarke, a senior analyst at PitchBook, which researches private financial markets. “That’s how people are viewing assets of the professional sports industry. They’re just not going down.”

    Inflation surged this year to levels unseen for four decades, slowing the economy and raising prices for consumers from the checkout line to the gas pump. For the most part, sports are no exception: Rising costs are making it more expensive for fans to go to games, for families who participate in youth sports and for college athletic departments trying to stay on budget.

    But the millionaires and billionaires who own sports team won’t be feeling the pinch, whether it’s the day-to-day cost of running the business or the sale price when they decide to move on. On the contrary: A franchise can be a safe place to park money and ride out a bear market.

    “I do think there is somewhat of a hedge,” said Inner Circle Sports CEO Rob Tillis, who has worked on the sale of dozens of teams in all four major U.S. pro sports and the top international leagues. “I have been doing this for 30 years. We’ve been through lots of business cycles and valuations have been strong. I don’t see that as any different now.”

    Most sports owners are also well-capitalized enough to keep their team budgets separate from their outside business and other sources of wealth. So even though rising interest rates have cooled the housing market, that’s unlikely to affect Cleveland Cavaliers and Rocket Mortgage owner Dan Gilbert, who with an estimated net worth of almost $52 billion is the 23rd-richest man in the world, according to Forbes magazine.

    (One exception: Losses in the Bernard Madoff Ponzi scheme squeezed the Mets payroll and forced owner Fred Wilpon to sell off first part, then the rest of the team.)

    “These guys, they have so much money that I think if they start to get pinched elsewhere, it’s more or less a rounding error for their clubs,” said Tom Pitts, the European head of LionRock Capital, a private equity firm that has a one-third interest in the Inter Milan soccer team. “Most of these guys haven’t stretched to buy the club. It’s an expensive hobby.”

    Rising interest rates could make it more expensive for would-be owners to buy into the club if they have to borrow money to pay for their new prize. “It just costs a lot more money in absolute dollars to service the debt,” Pitts said.

    A handful of high-profile teams are currently on the market.

    Washington Commanders owner Dan Snyder, who is under pressure to sell his team after an investigation revealed a toxic corporate culture, says he would consider unloading all or part of the once-proud NFL franchise. It is expected to fetch even more than the $4.65 billion paid for the Denver Broncos this summer by Walmart heir Rob Walton, who with an estimated net worth of $61 billion is the 16th-richest person in the world.

    Robert Sarver has put his teams, the NBA’s Phoenix Suns and the WNBA’s Phoenix Mercury, on the market after an investigation found evidence of a racially and sexually insensitive workplace. Baseball’s Washington Nationals are for sale and the family that owns the Baltimore Orioles has made noise about selling, as well. The NHL’s Ottawa Senators can also be had for the right price.

    Two of English soccer’s biggest names, Manchester United and Liverpool, are also on the market. Man U. was valued by Forbes in September at $4.6 billion — just a bit higher than Liverpool; both are expected to eclipse the $3.2 billion price paid for Chelsea this spring that was briefly the highest ever for a sports team.

    That record was less than two weeks old when the Broncos deal was announced.

    “You’ve got the likes of the Waltons, and it’s a drop in the bucket,” Clarke said. “It’s a club. It’s like, ‘When is the next Picasso up for sale?’ … The value sector has nothing to do with the economy. There’s always demand and there’s always scarce supply.”

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    AP Sports Writer Jay Cohen contributed to this story.

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  • Wife of Phillies’ Hoskins puts beers on her World Series tab

    Wife of Phillies’ Hoskins puts beers on her World Series tab

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    PHILADELPHIA — Jayme Hoskins is tapped in to Philly sports fans.

    The wife of Philadelphia Phillies first baseman Rhys Hoskins has let fans crush some World Series beers on her tab. Jayme Hoskins has turned into a baseball barfly and let the free beers fly during recent Phillies’ postseason games.

    The beer runs are nearly as popular as the ones the Phillies poured on against the Astros in Game 3, a 7-0 drubbing that included a homer from Rhys.

    Wearing a red Phillies blazer with “Hoskins” printed on the back, Jayme had fans chanting her name Wednesday night as she sidled up to the closest bar to right field on the concourse before Game 4.

    She had previously tweeted out section 104 as the corner bar of her choice at Citizens Bank Park and sent out a hint she could be found there again about 30 minutes before first pitch — and her husband set to take the field at first base.

    “If you know anything about baseball and it’s quirks then you know where beers are about to be,” she tweeted.

    One bartender painted Hoskins “No. 17″ in red on her cheek and wore the first baseman’s “Ring the Bell” T-shirt. Another exclaimed, “she wants 50 more?” when Jayme ordered another round.

    Yes, of 50. At $17 a pop.

    Hoskins may as well have been Rhys as fans mobbed her for selfies, and she took a knee for a group photo with dozens of World Series suds suckers. She was polite — she is a Phillies fan, after all — and asked the drinkers to have their IDs ready and to say “please” and “thank you” to the servers sliding out Buds at a faster rate than her husband is crushing postseason homers.

    She sent her first “beer here!” tweet when the Phillies clinched the NL pennant in Game 5 of their Championship Series against San Diego. She joked on Twitter that someone should buy her a beer.

    Hoskins said she then decided, “No, I’m buying you all a beer.”

    She kept up the boozy tradition — the couple hosted a charity event this year at Philly’s Yards Brewery — and has no plans to stop for Game 5 on Thursday night

    “I’ve been hearing about Red October for about seven years,” she said. “It has not disappointed in any way. It’s been amazing.

    “And I know it’s not over!”

    Joseph Connolly of South Philly, wearing a Bryce Harper jersey, sipped his first free Hoskins beer at the first World Series game of his life. The 28-year-old Phillies fan read Hoskins’ tweets and, ahem, just happened to linger in the area at the same time frame as her tweets from previous beer giveaways.

    “It’s one of the more generous things you could ever do,” he said.

    Rhys Hoskins was on board with his wife playing baseball bartender.

    “Whatever it takes right now, really,” he said before Game 4. “She’s having a lot of fun with it. Obviously, the fans are enjoying it, too.”

    Hoskins, though, just might pass on one of those Budweiser tall boys. The slugger’s beer of choice: Yuengling.

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    AP MLB: https://apnews.com/hub/mlb and https://twitter.com/AP—Sports

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  • Rangers hire 3-time World Series champion Bochy as manager

    Rangers hire 3-time World Series champion Bochy as manager

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    The Texas Rangers have hired Bruce Bochy as their manager, bringing the three-time World Series champion with 2,003 career victories out of a short retirement to take over a team that has had six consecutive losing seasons.

    Texas made the surprising announcement Friday, just more than two weeks after its season ended. Bochy agreed to a three-year contract.

    The 67-year-old Bochy hasn’t managed since 2019, when he stepped away after 13 seasons and those World Series titles with the San Francisco Giants. The first championship came in five games over Texas in 2010, and the Giants won again in 2012 and 2014.

    Rangers general manager Chris Young was a pitcher for San Diego in 2006, which was Bochy’s final season with the Padres before going to San Francisco.

    “As we went through the interview process, Bruce’s passion and excitement about returning to the dugout was very evident,” Young said. “It became clear he was the ideal individual to lead our club as we continue to build a championship culture here in Arlington.”

    Bochy was 951-975 in 12 seasons with the Padres (1995-2006) and took them to the last World Series in 1998. The former big league catcher had a 1,052-1,054 record in San Francisco from 2007-19.

    The Rangers said they’d hold an introductory news conference on Monday. Bochy said in a statement he was excited to be joining the team after several days of extensive conversations with Young and a meeting with owner Ray Davis.

    “Their vision and commitment to putting together a club that can contend and win year in and year out is impressive, and I became convinced I wanted to be a part of that,” Bochy said. “If I was going to return to managing, it had to be the right situation. I strongly believe that to be the case with the Rangers, and I can’t wait to get started.”

    The Chicago White Sox, Kansas City Royals and Miami Marlins have the three remaining manager openings among the 30 teams.

    Fourth-year Rangers manager Chris Woodward was fired Aug. 15, two days before president of baseball operations Jon Daniels was also let go. Texas went on to finish 68-94, eight wins more than 2021 but what Young said after the season “was about half of our internal expectations.” They lost 35 one-run games, a franchise record.

    Texas was 17-31 under interim manager Tony Beasley, the longtime Rangers third base coach who was once Young’s manager in the minor leagues. Several young players got extended looks during that span, and the GM said in August that Beasley wouldn’t be judged solely on win-loss record. Beasley was interviewed for the job two days after the season ended.

    When speaking after the season, Young had declined to comment when asked specifically if the managerial search could proceed without knowing whether Bochy had interest in the job. But he acknowledged then how much he loved playing for Bochy and expressed his respect for the man he considers one of the most successful and respected managers in the major leagues.

    “With a calm and steady presence, he has a remarkable ability to connect and communicate with players, coaches, and staff, and his teams have always played with maximum effort,” Young said Friday. “His knowledge of the game, as well as his integrity is unmatched.”

    Texas last offseason committed a half-billion dollars to free-agent shortstop Corey Seager ($325 million, 10 years) and second baseman Marcus Semien ($175 million, seven years), and also signed right-hander Jon Gray ($56 million, four years) to be their No. 1 starter. Left-hander Martin Perez was an All-Star after returning on a one-year deal before spring training.

    While there were never any expectations that the Rangers would go from 102 losses in 2021 immediately to a title contender after that big spending spree, they never had a winning record at any point this season and peaked at 24-24 at the end of May. The six consecutive losing seasons are the most in the half-century since the franchise moved to Texas in 1972.

    Davis has indicated the team is ready to add to its starting rotation, and potentially sign a middle-of-the-lineup bat.

    “I don’t plan on spending as much money as we did last offseason,” he has said. “But we plan on spending some money.”

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    More AP MLB: https://apnews.com/MLB and https://twitter.com/AP—Sports

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  • Analysis: Commanders ugly on and off the field

    Analysis: Commanders ugly on and off the field

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    The dysfunctional Washington Commanders are ugly on and off the field.

    A day that began with a detailed report about Dan Snyder’s toxic ownership ended with a sloppy 12-7 victory over the Chicago Bears in front of a national television audience Thursday night.

    Don’t let the victory fool you. The Commanders (2-4) were losers the minute ESPN reported, citing anonymous sources, that Snyder has hired private investigators and told people he has enough information to expose fellow owners and Commissioner Roger Goodell.

    There is no plan to vote on Snyder’s status next week at the owners’ meetings in New York, according to three people with knowledge of the agenda. The people spoke to The Associated Press on condition of anonymity Thursday because the discussions are private.

    Forcing Snyder to sell the team requires 24 votes from the other 31 owners. It’s not a simple task despite the latest stain against him.

    Snyder and the organization are currently the subject of ongoing investigations by the U.S. House Committee on Oversight and Reform and former U.S. Attorney Mary Jo White, who is conducting a new review on behalf of the NFL.

    Once those reports are filed, owners could try to seek removal. Meanwhile, public pressure will continue to mount against Snyder, who has been accused of workplace sexual harassment, potentially unlawful financial conduct, deceptive business practice, among other improprieties.

    During the Amazon Prime Video broadcast, play-by-play announcer Al Michaels said: “Just my feeling, I think what the league would love is for Snyder to sell the team. Not have to go to a vote, but just sell the team. Because it’s become a major problem around the league, obviously. And we’ll see what happens. I think it’s got a long way to go, and Dan, very well known for digging his heels into the ground.”

    Snyder watched from a suite at Soldier Field as his team put aside all the distractions and barely held on for a win by 1 yard, snapping a four-game losing streak.

    “With the distractions going around, we don’t pay attention to any of that,” linebacker Jamin Davis said. “As a locker room, as a team, we really pay attention to what we have in front of us and going forward that’s how it’s going to be.”

    Coach Ron Rivera, who created a different distraction earlier in the week when he blamed quarterback Carson Wentz for the team being last in the NFC East, walked out of his postgame news conference after referring to part of ESPN’s report that said it was Snyder’s decision to acquire Wentz.

    “They’ve played their (butts) off. They have,” Rivera said about his team. “They come out and show up. They work hard. They don’t complain. They hear all this stuff and they got to deal with it. I get that. I respect them for it. They’re resilient. They come back. Everybody keeps wanting to say I didn’t want anything to do with Carson. … I’m the …. guy that pulled out the sheets of paper, that looked at the analytics, and watched the tape when we were in Indianapolis (at the combine). That’s what pisses me off because the young man doesn’t deserve to have that all the time.”

    None of the Commanders deserve to deal with the series of scandals and investigations that surround the man who signs their paychecks.

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    AP Sports Writer Stephen Whyno contributed to this report.

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    More AP NFL: https://apnews.com/hub/nfl and https://twitter.com/AP—NFL

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  • Adebayo, Cain lead Heat over Durant, Simmons and Nets

    Adebayo, Cain lead Heat over Durant, Simmons and Nets

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    NEW YORK — Bam Adebayo scored 17 points and undrafted rookie Jamal Cain added 15 points and 11 rebounds as the Miami Heat defeated the Brooklyn Nets 109-80 on Thursday night.

    Kevin Durant led Brooklyn with 22 points on 8 of 12 shooting in 26 minutes. Ben Simmons had four points and 10 rebounds for the Nets.

    Miami star Jimmy Butler played for the first time in the preseason, scoring two points in the first half and then sitting in the second half. Tyler Herro and Victor Oladipo didn’t play for the Heat.

    The Nets were minus Joe Harris, who was resting an ankle that left him out most of last season, and Kyrie Irving, who had the night off after the birth of his child. Seven Heat players scored in double figures.

    Kyle Lowry had 15 points and Dru Smith, Duncan Robinson and Jamaree Bouyea each added 12 for Miami. Cain signed with the Heat in July after playing for Marquette and Oakland University.

    Cam Thomas scored 13 points and Markieff Morris 10 for the Nets.

    Through the first half, the teams tried various combinations, mixing the starters with some key bench players. Both sides seemed to stretch their stars for some extra minutes in the shortened NBA preseason.

    Durant played 19 minutes in the first half and scored 18 points, making six of seven shots. Simmons and backcourt mate Royce O’Neale each played 18 minutes.

    MAGIC 102, SPURS 99

    Paolo Banchero, the overall No. 1 pick in the June draft, had nine points and five rebounds as Orlando beat San Antonio.

    Wendell Carter Jr. had 20 points and 10 rebounds for the Magic. He shot 8 of 13 as most of the Orlando starters played between 20 and 23 minutes. Franz Wagner had 12 points and Moritz Wagner scored 10.

    Doug McDermott led the Spurs with 14 points, and Keita Bates-Diop added 12.. Devin Vassell and Tre Jones scored 11 points each.

    THUNDER 131, ADELAIDE 36ERs 98

    Tre Mann scored 26 points, including hitting 8 of 10 on 3s, as Oklahoma City beat a team from the Australian National Basketball League.

    Lindy Waters III scored 23 points and Eugene Omoruyi added 19 points for the Thunder.

    Craig Randall II, who had 35 points in the 36ers’ 134-124 win over the Phoenix Suns earlier in the week, led Adelaide with 27 points. Robert Franks scored 20 points and Antonius Cleveland had 19 points.

    Adelaide used torrid 3-point shooting, hitting 56% from beyond the arc, to defeat the Suns in the opening game of their preseason tour. But the accuracy was not the same against Oklahoma City as the 36ers went 11 of 36 from distance.

    HAWKS 123, BUCKS 113

    Dejounte Murray scored 25 points in his Atlanta debut and the Hawks beat Milwaukee in the NBA’s first game in the United Arab Emirates and the Arabian Gulf.

    The teams will play another preseason game on Saturday at Etihad Arena.

    Giannis Antetokounmpo led the Bucks with 19 points. Jevon Carter added 17.

    Murray also had nine assists, eight rebounds and two blocked shots. He was acquired from San Antonio for three first-round picks in the Hawks’ biggest offseason move.

    Hawks star Trae Young had 22 points. Young and Murray combined to make 13 of 16 free throws, all in the first half.

    The game featured the NBA’s three Holiday brothers. Aaron Holiday had 16 points and Justin Holiday added nine for the Hawks. Jrue Holiday had 12 for the Bucks.

    De’Andre Hunter had 17 points for Atlanta.

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    More AP NBA: https://apnews.com/hub/NBA and https://twitter.com/AP—Sports

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