Ryan Reynolds is the Exception

“[John] Textor is a cautionary tale for aspiring owners showing that Wrexham AFC—which is reportedly looking to sell a stake at a 19,000% valuation growth thanks to mega-famous co-owner Ryan Reynolds—is an exception, not the rule.”

July 28, 2025

Everyone Wants to Own a Soccer Club—But Not Everyone Should
FOS’ Ben Horney writes, “There’s great appeal in owning a pro sports team, but even the rich are getting priced out of leagues like the NFL and NBA. Many would-be owners are turning to soccer, particularly in Europe, where there are many teams that can be had for more reasonable prices. But European soccer ownership can be as perilous as it is tempting.

“Just ask John Textor, whose failure to follow UEFA multi-club ownership rules recently cost Crystal Palace its place in Europa League. Textor is a cautionary tale for aspiring owners showing that Wrexham AFC—which is reportedly looking to sell a stake at a 19,000% valuation growth thanks to mega-famous co-owner Ryan Reynolds—is an exception, not the rule.”
^{Front Office Sports}

Fitch Reveals, Gives ‘A’ Rating to $1B in New NFL Debt
Credit rating agency Fitch Ratings revealed Friday afternoon that the NFL’s Football Trust league-wide credit facility has issued notes totaling $1.04B in new debt for multiple undisclosed clubs. The new borrowing “will be used to repay existing indebtedness, for general corporate purposes and/or to provide working capital for the participating clubs,” per Fitch, and it has various maturities in 2030, 2034 and 2037. Fitch has given an “A” rating to the new debt and affirmed existing “A” ratings for the NFL’s Football Trust ($7.6B) and Football Funding ($4.1B) credit facilities.
^{Sports Business Journal}

Puma Shares Fall Amid Concerns of Full-Year Loss
Puma shares “tumbled by almost” 20% today after the company “slashed its sales forecast and warned of a full-year loss.” Yesterday, Puma said that it “expected a low double-digit drop in revenues compared with a previous forecast of single-digit growth.” It also said that it would “record a full-year operating loss, ditching an earlier prediction of at least” €445M (US$522M) in earnings.
^{Financial Times via Sports Business Journal}

ESPN Plans to Spend Billions for a Cable Network? In This Economy?
Sportico’s Anthony Crupi writes, “While talks between the NFL and the sports media juggernaut broke off last fall, they picked up again at around the same time the football world descended upon New Orleans for Super Bowl LIX. Since then, it’s been a ground-and-pound effort, with the discussions advancing by increments. If you buy into analysts’ valuations, a wholly hypothetical 10% stake in ESPN could be worth $2.4 billion. Disney’s sports unit last year generated $17.6 billion in revenue, of which $10.4 billion was tied to affiliate fees.”
^Sportico

Apple, F1 Streaming Reports Leave Future of ‘F1 TV’ Unclear
As Apple reportedly nears a $150 million per-year tie-up with Formula 1, U.S. subscribers to the motorsport’s own streaming offering, F1 TV, have raised questions about the service’s future.
^{Financial Times via Sports Business Journal}

Raiders Trying to Void $35 Million in Guaranteed Money They Owe 
FOS’ Alex Schiffer writes, “The Raiders released Wilkins with the designation of a terminated vested veteran, and they are claiming Wilkins violated his contract with how he handled his injury rehab. Las Vegas voided the remaining $35.2 million guaranteed on his contract, $8 million for this season and $27.25 million in 2026. Wilkins’s contract came with $57.5 million guaranteed. The Raiders voided the money on June 4, and the NFLPA had 50 days to file a grievance over the guarantee, which they did Thursday.”
^{Front Office Sports}

St. Petersburg Formally Ends Rays Ballpark Deal
The St. Petersburg City Council “formally declared” the Rays ballpark project “dead” yesterday. The Rays announced in March they could “no longer move forward with those plans after Hurricane Milton tore the roof from Tropicana Field.” Thursday’s vote “puts a legal end” to the deal, which was approved last July.
^{Tampa Bay Times via Sports Business Journal}

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With Memphis’ Big 12 Pitch as an Example, True Cost of Joining Power Four May Just Be Going Up
“Expansion fees will be the new norm in future realignment within the Power Four,” a Big 12 source told SBJ. “This sets the tone for future realignment; in addition to bringing that brand value, performance value, market value, if you want in, you’re going to have to pay the freight, no different than a professional league.”
^{The Athletic}

Analysis: UNC’s Belichick Brings Added Attention to ACC Amid a Fight for Exposure
SBJ’s Ben Portnoy writes, “The ACC communications staff received more credential applications this year than ever before. Belichick is almost certainly the reason for that. On campus, UNC also announced the earliest sellout for season and single-game tickets in school history this week despite raising prices 25%. Turns out all the ACC and UNC needed to net the kind of attention they craved was a 73-year-old football coach with a Kardashian-esque following and six Super Bowls to his name.”
^{Sports Business Journal}

Saving SFA Sports? Title IX Plaintiffs Cite Trump Executive Order
While it’s debatable how much legal weight President Donald Trump’s executive order last week on college sports will ultimately carry, it has already become a tool for at least six female athletes suing Stephen F. Austin State University. On Sunday, the plaintiffs—five beach volleyball players and one bowler—filed a notice of supplemental authority, citing the executive order titled “Saving College Sports.”
^{The Athletic}

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