Explore the latest sports, media and entertainment news, from rising franchise values and record audiences to private capital activity and legislative and regulatory changes reshaping the industry.
With the MLB and WNBA playoffs underway, there's plenty happening on the field, but the business behind both leagues continues to be just as active. MLB entered the postseason after a fourth consecutive year of attendance growth, while the WNBA closed a record-setting regular season for attendance. Elsewhere, the Islanders reached a $3 billion valuation, MLB opened further to private capital as expansion interest builds, and the NBA advanced its European ambitions, while new legislation and regulatory developments continued to reshape the broader sports and media landscape.
Team Ownership, Franchise Values and League Expansion Remain Active
Islanders agree to sell 15% stake at a $3 billion valuation
The New York Islanders agreed to sell roughly 15% of the franchise to a group of investors at a $3 billion valuation. One investor in the group is reportedly in line to acquire up to 10% of the team; the transaction remains subject to NHL approval, and Scott Malkin will remain the Islanders' controlling owner. A 2014 transaction valued the Islanders at $485 million; Malkin and Jon Ledecky became majority owners in 2016.
NHL franchise values rise 16% as average team reaches $2.43 billion
The average NHL franchise is now valued at $2.43 billion, up 16% year over year and 160% over the past five years, according to Sportico. The Toronto Maple Leafs lead the league at $4.8 billion, followed by the New York Rangers ($4.15 billion) and Montreal Canadiens ($3.8 billion), while 20 of the league's 32 teams are now valued above $2 billion.
Steinbrenner family sells small Yankees stake as part of Apollo investment
The Steinbrenner family sold a small portion of its interest in Yankee Global Enterprises as part of Apollo Sports Capital's previously announced $2.6 billion debt-and-equity investment. Most of Apollo's equity stake will come through newly issued equity, while the Steinbrenners retain operational control and Apollo Sports Capital CEO Al Tylis joins YGE's board.
NBA sends EuroLeague a formal offer ahead of October 5 vote
The NBA has sent EuroLeague a formal proposal regarding a potential joint European basketball project, moving months of talks into a more concrete stage. EuroLeague's 13 shareholder clubs are scheduled to meet October 5 in Cernobbio, Italy, to weigh the proposal, which comes as the NBA has been building a separate European league in partnership with FIBA targeting an October 2027 launch. Terms of the NBA's offer, including any valuation, have not been publicly disclosed.
MLB Attracts New Capital and Fans as Labor Negotiations Approach
MLB attendance grows for a fourth straight year as Dodgers set a franchise record
MLB drew 71.75 million fans in 2026, up roughly 0.5% year over year and marking a fourth consecutive season of attendance growth. Of note, the Los Angeles Dodgers set a franchise attendance record of 4,034,219 fans, becoming the first MLB team to surpass four million in consecutive seasons since the New York Yankees did so from 2005 through 2008.
MLB expands private equity ownership limit to 20%
Major League Baseball has increased the amount of a franchise that can be owned by a private equity firm from 15% to 20%, giving clubs the potential opportunity to bring institutional capital into ownership groups. Of note, a PE investor cannot own a larger percentage than the club's controlling owner, who must hold at least 15%.
Utah's MLB expansion effort gains another potential backer
Utah Jazz and Utah Mammoth owner Ryan Smith said he plans to be “aggressive” in pursuing an MLB expansion franchise for Salt Lake City, adding another prominent local sports owner to Utah's expansion efforts. The Larry H. Miller Company has separately led the Big League Utah initiative and secured up to $900 million in state-backed financing toward a potential ballpark. Smith's involvement remains in the early stages, and any formal bid could ultimately require coordination among the groups positioning Salt Lake City for a franchise.
MLB labor negotiations intensify ahead of December 1 CBA expiration
MLB and the MLB Players Association are negotiating a new collective bargaining agreement ahead of the current deal's December 1 expiration, with the league proposing a salary cap and floor as part of broader changes to baseball's economic system. MLB has proposed a 2027 payroll cap of $245.3 million and a floor of $171.2 million, while the union has opposed a salary cap and offered its own proposals around revenue sharing, minimum salaries and competitive balance.
Live Sports Continue to Draw Large Audiences
WNBA sets regular-season viewership and attendance records
The WNBA averaged a record 1.37 million viewers across ESPN networks during the 2026 regular season, up 17% year over year, while NBC and CBS each averaged more than one million viewers across their respective packages. The league also drew a record 3.79 million fans, up 20.5%, aided by the addition of two expansion teams; excluding those clubs, attendance still increased roughly 3%. Average attendance increased 5% to a record 11,474.
NFL audiences remain strong as international footprint expands
The NFL's first regular-season game in Rio de Janeiro averaged 24.9 million viewers across CBS and Paramount+, making Ravens-Cowboys the most-watched NFL international game on record. The result followed Netflix's 49ers-Rams game in Australia, which averaged 18.5 million U.S. viewers, while Amazon's Thursday Night Football opener averaged 18.6 million, up 5% year over year and marking Prime Video's most-watched TNF season premiere. The strong individual windows came amid a more mixed broader ratings picture early in the season, as the NFL plays a record nine international games across seven countries in 2026.
Presidents Cup opening-round viewership jumps 88%
Golf Channel's Thursday coverage of the Presidents Cup averaged 688,000 viewers, up 88% from the tournament's 2024 opening round. The event culminated with the U.S. overcoming a three-point deficit entering the final day to defeat the International Team 17-13, completing the largest final-day comeback in Presidents Cup history and extending the Americans' winning streak to 11 editions.
Legislation and Regulation Reshape Sports and Media
Senate passes legislation that could reshape college-sports economics
The Senate passed the bipartisan Protect College Sports Act 77-22 on September 28, sending the legislation to the House. The bill would establish a national framework covering athlete revenue sharing, NIL compensation, eligibility and health protections, while allowing participating schools and conferences to pool certain media rights. It would also give the NCAA limited antitrust protections and new authority over transfer and eligibility rules, making it a potentially significant change to the economic and regulatory structure of college sports. Supporters say the bill would provide national rules and greater stability, while critics have raised concerns about its antitrust protections and restrictions affecting athlete compensation and mobility.
Paramount reaches proposed settlement with states over Warner Bros. Discovery acquisition
Paramount Skydance reached a proposed settlement with 12 state attorneys general over its planned acquisition of Warner Bros. Discovery, which would resolve the states' antitrust challenge if approved. Under the agreement, the combined company would commit to releasing at least 30 films annually, invest at least an additional $1.5 billion in U.S. film production over five years, and establish a $47.5 million workforce fund, alongside commitments around cable negotiations and news operations. The settlement remains subject to court approval.
Sixth Circuit allows Ohio and Tennessee gambling laws to apply to Kalshi sports contracts
The Sixth Circuit ruled that Ohio and Tennessee can apply state gambling laws to Kalshi's sports event contracts, rejecting the platform's argument that the products fall exclusively under federal CFTC oversight. The decision adds to a split among federal appeals courts over the extent to which federal commodities law preempts state gambling regulation of sports event contracts.
And On a Fun Note...
Knicks star Jalen Brunson appeared in the Emmys opening earlier this month and hosted the season premiere of Saturday Night Live this past weekend. As a New Yorker, I've enjoyed watching the Knicks’ championship run spill into the broader culture. After buying my kids Brunson jerseys this summer, I can confirm the franchise may already have its next generation of fans in my household.
