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San Francisco Giants sell 10% stake to private equity firm – Marketplace

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San Francisco Giants sell 10% stake to private equity firm – Marketplace


Baseball’s San Francisco Giants are selling a 10% ownership stake to a private equity firm — joining a growing trend in American sports. The firm in question is San Francisco-based Sixth Street. All major sports leagues in the U.S. now allow those firms to invest in their teams, according to the New York Times.

Historically, major sports teams in the U.S. have each been owned by one really rich person or family and the only way for them to cash in on their investment has been to sell the whole team. 

But as the value of sports teams has risen, owners have realized that selling off part of their stake in a team “is a way for existing owners to capitalize on the rising valuations of their clubs,” said Tim Koba, an assistant professor in sport, event and hospitality management at High Point University.

Right now, private equity firms are willing buyers.

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“Essentially, they’re buying into people’s passions,” said Stefan Szymanski, a professor of sports management at the University of Michigan. 

Because fans are so passionate about their teams, they’re willing to sink a lot of money into watching and supporting them.

And private equity, Szymanski noted, sees a revenue opportunity. “What they’re trying to do is trying ways to extract more of the financial value of that happiness from the fans.”

By raising ticket prices, he said, or finding new ways to reach — and charge — fans through digital channels.

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Yankees top Giants 7-0 as robot umpire debuts

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Yankees top Giants 7-0 as robot umpire debuts



Aaron Judge went hitless on opening day for the first time and struck out four times for the first time since September 2024, but the New York Yankees still produced plenty of offense and beat San Francisco 7-0 Wednesday night in the debut of Giants manager Tony Vitello as the major league season began.

José Caballero drove in the go-ahead run with an RBI single in a five-run second and also lost the first challenge taken to Major League Baseball’s so-called robot umpire, unsuccessfully appealing a strike by Logan Webb in the fourth.

Max Fried (1-0) allowed two hits in 6 1/3 innings to became just the fifth Yankees pitcher since 1969 with at least 6 1/3 shutout innings on opening day, joining Catfish Hunter (1977), Ron Guidry (1980), Rick Rhoden (1988) and David Cone (1996). New York won an opener with a shutout on the road for the first time since 1967.

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Webb (0-1) started the fourth inning with a 90.7 mph sinker on the upper, inner corner that was called a strike by Bill Miller, a major league umpire since 1997. Caballero tapped his helmet, and the 12 Hawk-Eye cameras of the Automated Ball-Strike System upheld Miller’s decision in a graphic shown on the Oracle Park scoreboard.

Caballero singled in the second and Ryan McMahon followed with a two-run single before Austin Wells’ single prompted a mound visit for Webb. Trent Grisham hit a two-run triple and was checked by medical staff after a hard slide into third.

Judge was booed before the game and during each at-bat as he began his 11th big league season. The California native had been pursued by the Giants during free agency in 2022 but he ultimately chose the Yankees’ $360 million, nine-year contract offer.

Webb, a 15-game winner last season making his fifth start on opening day, was tagged for six earned runs — seven in all — and nine hits over five innings.

The 47-year-old Vitello made the big jump from coaching the University of Tennessee.

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The teams resum3 the series Friday afternoon, with RHP Cam Schlittler starting for New York opposite lefty Robbie Ray.

___

AP MLB: https://apnews.com/mlb



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1 dead in house fire in San Francisco’s Portola neighborhood

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1 dead in house fire in San Francisco’s Portola neighborhood


One person was found dead Tuesday night in a house fire in San Francisco’s Portola neighborhood.

The one-alarm fire occurred in the 500 block of Dwight Street and caused major damage to the interior of the home, the Fire Department said.

Firefighters extinguished the fire and remained on the scene checking for hidden fire in the walls and roof.

One person was declared deceased at the scene. The exact manner and cause of the person’s death will be determined by a medical examiner. The cause of the fire remains under investigation.

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Barricaded suspect in standoff with police in San Francisco’s Tenderloin neighborhood

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Barricaded suspect in standoff with police in San Francisco’s Tenderloin neighborhood



A person was barricaded inside a residence in San Francisco’s Tenderloin neighborhood on Tuesday afternoon in a standoff with officers, police said.

The San Francisco Police Department said the situation was happening at the Cadillac Hotel, a historic single-room occupancy building on Eddy Street between Jones and Leavenworth streets. Officers responded to a report of an assault at the hotel at about 2 p.m. and determined that the suspect was barricaded in one of the units, police said.

Crisis negotiators and other specialists also responded and were developing a plan for a peaceful resolution to the standoff, police said. An ambulance and paramedics were also standing by at the hotel.  

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Members of the public were asked to avoid the area. The San Francisco Fire Department said Eddy Street between Leavenworth and Jones was closed to traffic.

The Cadillac Hotel was built in 1907 and has been listed as a San Francisco Designated Landmark since 1985, becoming the first nonprofit single-room occupancy hotel west of the Mississippi. For decades, it also housed Newman’s Gym, one of the oldest boxing facilities in the U.S., where boxers such as Muhammad Ali, George Foreman, Sugar Ray Robinson, and Joe Louis trained.  

Today, the hotel provides supportive housing for approximately 160 low-income residents. 

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In 2015, the hotel became the site for The Tenderloin Museum.





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