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The Padres just sold to a historic bid. Saudi money in golf is running out of time. And train fares for the World Cup are causing major uproar.
All the stories and latest below. Check it out 👇 👇
FRANCHISE SALE
Continued: Padres Sell for Record-Breaking $3.9B, Leaving MLB Owners Stunned
Last week, we reported a possible sale of The San Diego Padres. Well, this week we have a buyer—and the sale price is earthshaking.
Jose Feliciano, the co-founder of the Chelsea FC ownership group, won the high-stakes bidding war for the Padres. His bid: $3.9 billion, shattering the MLB purchase price for a franchise by 62%, which was set by the New York Mets for $2.4 billion in 2020.
“The Math Makes No Sense”
The deal has other league owners and executives talking. Some owners are calling it “insane” and are “floored.” Another team owner said, “most people in financial circles felt the value was worth $2.5 billion at the most.”
A Drastic Difference in Valuations
Last year, Forbes valued the franchise at $1.9 billion, also citing that San Diego is the 30th largest market. Last year, the Padres TV revenues were $30 million. In comparison, the Los Angelos Dodgers average about $334 million yearly.
⚾ Read more from USA Today here.
MULTI-SPORT OWNERSHIP
Bill Foley Is Building a Sports Empire — And Rugby Is Next
Bill Foley, the American billionaire behind Black Knight Sports and Entertainment, is poised to take over Exeter Chiefs—one of English rugby’s most storied clubs. The deal still needs ratification from the club’s ~700 members, which will make for an extraordinary general meeting on May 7th.
An Proven Playbook
Foley already owns AFC Bournemouth (Premier League), Lorient (Ligue 1), Auckland FC (A-League), Moreirense (Portugal), and the Vegas Golden Knights (NHL). Exeter would be Foley’s first rugby asset. His model—focused on data-driven decisions, smart transfers, and patient capital—turned Bournemouth into a top-10 Premier League club on one of the smallest budgets in the league. Now, Foley is taking his playbook to the next asset.
🏉 Read the article from The Guardian here.
Start 3/Bench 1
⬆ Vestible. We were mentioned in a Front Office Sports article this week! Take a look at what former professional athletes, Tre Boston and Jay Jackson, are saying about us. — Check It Out!
⬆ Fernando Mendoza. After being selected as the #1 overall pick in the 2026 NFL draft, new Las Vegas Raiders quarterback Fernando Mendoza is already a winner off the field. NFL players pay taxes based on the state their team is in. Nevada is 1 of 8 states with no income tax. So, Mendoza, who can be paid up to $54,565,500 over a 4-year contract, will be saving millions in after-tax pay. — Yahoo! Sports
⬆ Tyler Reddick. Out of the 9 NASCAR races so far this season, Reddick has taken home the checkered flag 5 times. For perspective, none of the last 4 NASCAR Cup Series champions managed to win more than 4 in a single season. His team, 23XI, is co-owned by Michael Jordan and Denny Hamlin. Reddick’s historic start to this NASCAR season is something fans have not seen since Dale Earnhardt in 1987. — AP
⬇ Regional Sports Networks (RSNs). RSNs are struggling as cable streaming declines and subscription services continue to stake their claim on live sporting events. As ratings continue to rise, regional networks are faltering. — Read More Here.
FIFA WORLD CUP
New Jersey Transit to Charge World Cup Fans $150 for Round-Trip Train Fares to Attend Matches
As all the world gets prepared for sports’ biggest global stage, sky-high ticket prices won’t be the only thing draining the pockets of soccer fans attending matches during the World Cup.
Train Fares
Fans trying to get to and from MetLife Stadium can expect to pay $150 for a round-trip ticket, a 12x markup from the normal $12.90 price. From Manhattan’s Penn Station to MetLife Stadium is roughly 15 minutes and 9 miles. MetLife Stadium is set to host 8 matches during the 2026 World Cup, including the tournament final in July 19th. New Jersey Officials anticipate 40,000 fans will use transit for each match they host. There will be no parking available.
New Jersey Justification
NJ Transit officials have said they plan to spend $62 million over the duration of the tournament, and claim the fare increase was needed to cover their costs. Outside grants are only covering about $14 million of the anticipated expenses. NJ Transit president and CEO, Kris Kolluri, said, “we are literally trying to recoup our costs” and “this isn’t price gouging.”
🚆 Read ESPN's full article here
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SPORTS FINANCE
Saudi Arabia is Pulling the Plug on LIV Golf
Saudi Arabia’s Public Investment Fund (PIF) — the $1 trillion sovereign wealth fund that bankrolled LIV Golf since its launch in 2022 — is on the verge of withdrawing financial support from the circuit. The PIF announced a new five-year strategy on Wednesday that focused on “increasing the efficiency of investments” and cited “mounting financial pressures.”
What Now?
LIV CEO Scott O’Neil confirmed the league is funded through the end of the 2026 season — but what comes after that is unclear. The PGA Tour merger that was announced in 2023 never actually materialized. LIV athletes, including some of the biggest names in golf, like Bryson DeChambeau and Jon Rahm, are now watching their league’s future hang in the balance.
⛳ Read full Golfweek article here.
