Two of the more controversial figures in sports -- TKO Group Holdings Exec Chair Vince McMahon and Knicks and Rangers owner James Dolan -- were profiled today by the L.A. Times and N.Y. Times respectively.
McMahon agreeing in April to merge the WWE with the UFC to form a new publicly traded company worth a staggering $21.4B was "not merely a triumph" for him, but a "stunning turn of events in the worlds of sports, media and entertainment, potentially creating a game-changing colossus." But "casting a pall over the merger are ongoing investigations" by the SEC and the Department of Justice into McMahon’s conduct. The government investigations into his conduct come as the WWE is "confronting challenges on multiple fronts," all of which places the multibillion-dollar merger with UFC, intended to "secure McMahon’s legacy and the company’s future, under a cloud" (L.A. TIMES, 9/20).
Dolan is one of the "most powerful forces" in N.Y., but he also is one of the city's "most vilified public figures, a punching bag and a punchline." Dolan generally does "not enjoy himself at his own venues." He has considered "expanding his sports portfolio, perhaps by buying a baseball or soccer team." But he said, “I don’t really like owning teams." He also has thought about buying more venues, and said that the way to "improve the economics of the venue business is to own the content." That is why "foremost on his mind" is his new arena in Las Vegas, the Sphere, an "audacious project that he believes could revolutionize the live entertainment industry" (N.Y. TIMES, 9/20).
