Giants, Jets strike deal
The N.Y. Giants and N.Y. Jets have reached an agreement to build a football stadium in the Meadowlands. The teams announced late last week that they have agreed to a 50/50 partnership to finance and build the stadium. Details about the stadium’s design have yet to be completed. The project, which also will include sports stores, a hall of fame and a new rail connection, is expected to cost more than $800 million.
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| Shamrock Capital will look for a few tricks to boost the team's bottom line. |
Fund buys Globetrotters stake California-based Shamrock Capital Growth Fund, the investment entity of the Roy Disney family, has bought an 80 percent stake in the Harlem Globetrotters. Mannie Jackson, chairman and CEO of the Globetrotters, will keep 20 percent of the team and will remain in his role. Shamrock will look to expand the team’s merchandising, licensing and sports sponsorships worldwide.
Petco to host Baseball Classic
San Diego’s Petco Park will host the semifinals and finals of the 2006 World Baseball Classic from March 18-20. The Padres made a concerted effort to land the final two rounds of the 16-team tournament, which takes place over 17 days.
Mets-owned net gets a name
New York’s new regional sports network will be called SportsNet New York. The network, backed by Time Warner, Comcast and Sterling Entertainment Enterprises, will debut in spring 2006 and will broadcast up to 125 regular-season games of the New York Mets next year.
Ungar leaving IRL
Ken Ungar, senior vice president of business affairs for the Indy Racing League, has decided to leave the league’s front office after the 2005 season. Ungar, who joined the league in 2001, will remain with the IRL to help with a succession plan.
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