The reported six months of time and millions of dollars spent prior to the Super League’s launch is an indication of its lengthy development and projected potential, despite how quickly it dissolved. The $4 billion Super League endeavor - which rose and fell in 48 hours back in April - initially launched with 12 teams and had financial backing from JPMorgan in the form of pledged loans.įollowing its launch, the international soccer community, politicians, and governing bodies voiced disdain for the Super League and its repercussions for global soccer. Super League Allocated Millions Before Failed LaunchĪ group of international law firms and agencies were paid more than $4.5 million prior to the launch of the now-defunct Super League, according to Bloomberg. Terms were not disclosed.ĭiamond Baseball Holdings will support ticket sales, naming rights, food operations, broadcasting rights, and sponsorships for the teams. The company says it’s in negotiations with other franchises, too. Subject to approval, four minor league affiliates of the Atlanta Braves will be included. MLB cut the number of minor league teams by 25% earlier this year.Freund, minority owner of the Yankees and majority owner of the Redbirds, will oversee the unit with Endeavor advisor Pat Battle. The minor league teams Endeavor plans to acquire include Triple-A, High-A, and Single-A affiliates: the Iowa Cubs (Chicago Cubs), Scranton/Wilkes Barre RailRiders and Hudson Valley Renegades (New York Yankees), San Jose Giants (San Francisco Giants), and the Memphis Redbirds (St. The announcement comes after reports in October that Endeavor and Silver Lake were interested in acquiring a group of minor league teams - despite each team losing an estimated $5 million last year.Įndeavor is a good company to step in: The WME parent recorded $1.4 billion in third-quarter revenue last month, increasing its full-year revenue guidance to between $4.89 billion and $4.95 billion. UFC parent Endeavor announced on Wednesday plans to acquire nine minor league baseball teams through the creation of a new organization, Diamond Baseball Holdings. Endeavor To Acquire 9 Minor League Baseball Teamsīryon Houlgrave, The Register/Design: Alex Brooks
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