NFL bidders offer differing approaches

If the NFL were to rely solely on financing certainty, the city of Houston would win hands down among the three bids competing for the league's 32nd franchise. The offer from NFL Houston Holdings, led by billionaire Bob McNair, rests mostly on public money, with the remainder to be paid by perso ...

Tags: Chase Manhattan Corp., NFL, Oakland Raiders, St. Louis Rams

Celts' filing reveals lockout tab

The Boston Celtics LP took a huge financial hit because of the NBA lockout, according to the latest regulatory filing from the company that controls the basketball team. The team lost $1.065 million in ticket and local-broadcast revenues for each of the 16 home games wiped out by the lockout, an ...

Tags: Boston Celtics, NBA, NBC

Rating agency backs private arena bonds

In one of the most comprehensive looks at sports finance to date, Fitch IBCA plans to issue a report later this month that strongly urges investors to be more accepting of private bonds that fund stadiums and arenas. The report could make it easier for teams to persuade debt investors to accept ...

Tags: Air Canada, Fitch IBCA Inc., MCI Group, NBA, NFL, PepsiCo, Staples Inc.

Cricket setting sights on the Big Apple

New Yorkers unfamiliar with wickets, pitches, bowlers and stumps may want to brush up on their sports terminology. Plans are under way to build North America's first internationally recognized cricket stadium in New York City. The World Cricket League has agreed to spend $15 million on a 9,000- ...

Infusion of cash has Barber racing ahead

Like the racers and drivers his company trains, Skip Barber felt he needed extra help to get to the next level. So he agreed last week to sell his small but growing company to IMG/Chase Sports Capital LLC, the sports leveraged-buyout fund. While Barber will remain chief executive, for the first ...

Tags: Championship Auto Racing Teams Inc., Chase Manhattan Corp., Formula One, IMG, Warburg Pincus

Sports a drag on Fox earnings

News Corp.'s sports and entertainment spin-off is blaming its broadcast of the World Series and National Football League games for poor results in its broadcasting unit. Fox Entertainment, which went public late last year and had its first quarterly earnings report last week, said its Fox Broadc ...

Tags: New York Yankees, News Corp., NFL, San Diego Padres, YankeeNets

IMG/Chase set to buy Skip Barber Racing School

IMG/Chase Sports Capital LLC plans to announce early this week that it is buying the Skip Barber Racing School, sources close to the situation said. The transaction is the first acquisition for Sports Capital, a sports leveraged-buyout fund formed last year. Skip Barber is the leading trainer ...

Tags: IMG, IndyCar, Lexus, Whitehall Financial Group

Investment bankers join forces

In a sign of the increasing convergence of the sports and cable industries, Beacon Sports Capital Partners LLC, a sports investment banking boutique, is forming a joint venture with Communications Equity Associates, a media and entertainment investment bank with close ties to the cable industry. ...

Tags: BCEA Sports Capital, Beacon Sports Capital Partners LLC, Communications Equity Associates, Fleet, Pittsburgh Penguins

Tennis star's private life not expected to hurt sponsorships

Australian Open finalist Amelie Mauresmo's public pronouncements about being a lesbian should have little impact on her marketing potential, experts say. In the 1980s, women's tennis was dominated by Martina Navratilova, who made no secret of her homosexuality, but she had far more championship ...

Tags: Advantage, IMG, WTA

Marketer quits ATP program

The ATP's ambitious effort to pool worldwide revenue from 10 of its top tournaments has been left in doubt after a critical sports marketing partner broke ranks and blasted the men's tennis organization for unrealistic financial projections. The ATP wants to raise significantly more than $1 bi ...

Tags: IMG, ISL Marketing, Octagon Group, SLEC Holdings