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SBD/September 1, 2011/Franchises
Published September 1, 2011
The Mets announced today that David Einhorn "will not become a partial owner" of the club. The Mets in a statement said that "their period of exclusive negotiations with Einhorn has 'expired,' and because the 'parties were unable to reach agreement' the Mets will explore other options" (NEWSDAY.com, 9/1). Sources said that the Mets "may now try to sell 10 minority ownership packages for $20 million each to try to raise the $200 million that was expected to be invested" by Einhorn (WSJ.com, 9/1). CNBC’s Darren Rovell reports the Mets “say they have enough capital to cover 2011 losses, which are said to be about” $60M, and there is “no specific timetable to deal with other partners” (“Squawk on the Street,” CNBC, 9/1).
REIGNING CHAMPS: In London, Paul Kelso notes EPL club Manchester United "made a record operating profit" of $177.7M last season, "underlining the club's commercial growth under the ownership of the Glazer family." The reigning EPL champions saw revenue increase by $72.7M to $535.5M in the FY ended June 30, also a "record for an English club." The increase in revenue was driven by a 37% "increase in commercial revenue, which exceeded the £100m barrier for the first time" (London TELEGRAPH, 9/1).
KINGS OF THE CITY: Kings COO Chris McGowan, asked if the NHL team would amend its marketing strategies should an NBA lockout keep the Lakers and Clippers off the court next season, said, "I don't think we're going to change our advertising particularly for that, but we are looking at it as kind of an opportunity in the marketplace for people, if they have not been looking at the Kings, they might now look because they've got a little bit of a sports void there." He added, "We've got to get the Kings out there a lot more, we've got to market the players a lot more. I think we've got to be bolder in our positioning in terms of what can Kings fans expect from the team next year." McGowan also indicated that the Kings are "choosing among three themes for a new advertising campaign that will be launched Oct. 3." The slogan "Pride, Passion, Power" will remain as a "part of a big outdoor campaign with billboards, radio, TV and digital components" (LATIMES.com, 8/31).