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Afternoon Edition

September 11, 2025

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Paramount Skydance is reportedly weighing a bid for Warner Bros. Discovery, which would include TNT Sports. If it is successful, it could create a sports juggernaut to rival even ESPN.

— Ryan Glasspiegel [[link removed]], Eric Fisher [[link removed]], David Rumsey [[link removed]], and Colin Salao [[link removed]]

Paramount-WBD Merger Would Create Sports Superpower [[link removed]]

Ron Chenoy-Imagn Images

The combined entities of CBS and TNT Sports would have an enormous treasure trove of live rights if their parent companies are ultimately combined.

The Wall Street Journal reported Thursday [[link removed]] that Paramount Skydance is “preparing a majority cash bid” to buy Warner Bros. Discovery. Paramount owns CBS. WBD had been planning to separate its studio and streaming assets from its linear cable networks (TNT, TBS, CNN, and more). The bid, backed by the Ellison family, would reportedly encompass the full WBD company.

Paramount is operated by David Ellison, the son of Oracle founder Larry Ellison. With Oracle’s stock gains this week, the elder Ellison surpassed Elon Musk as the richest businessperson in the world, with a net worth of around $400 billion, before Musk reclaimed his spot at the top [[link removed]]. (Front Office Sports’s primary investor is RedBird IMI, a division of RedBird Capital, which is an investor in Paramount.)

If a merger between Paramount and WBD eventually closed, their combined sports offerings would rival and perhaps even surpass ESPN for the most comprehensive collection in the industry.

Paramount and CBS have rights to the NFL, The Masters, PGA Championship, PGA Tour, Big Ten football and basketball, Champions League, and, as of next year, every UFC event. TNT has MLB rights that include two full playoff rounds, half of national NHL games (split with ESPN), some Big 12 football and basketball (sublicensed from ESPN), and College Football Playoff games (also sublicensed from ESPN, with an expansion happening next year [[link removed]]). It also has packages in NASCAR, Unrivaled, the French Open, Big East basketball, and AEW.

Significantly, Paramount and WBD also share the full rights to the men’s basketball NCAA tournament.

The combined entities would have distribution on broadcast (via CBS), cable, and streaming (via HBO Max and Paramount+). They would essentially control or at least have their hands in all relevant American sports besides the NBA and SEC.

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Kaprizov’s Record Contract Rejection Highlights NHL’s New World [[link removed]]

Sergei Belski-USA TODAY Sports

The fast-changing economics of the NHL are now on full display as star Wild winger Kirill Kaprizov has reportedly turned down [[link removed]] an eight-year, $128 million contract offer that would have been the largest player pact in league history.

The proposed extension with Minnesota would have set new marks for both overall contract size and annual average value, at $16 million. The contract refusal arrived this week as the Wild plan to start training camp Sept. 18.

Likely fueling Kaprizov’s decision, however, is a sharp escalation [[link removed]] projected for the league’s salary cap. That spending limit, now at $95.5 million for the upcoming 2025–26 season and up from last year’s $88 million, is estimated to jump to $104 million in 2026–27 and $113.5 million in 2027–28. That increase, fueled largely by accelerating revenues in the sport, means that the NHL salary cap will spike by more than 25% over a three-year period.

Any individual player can sign for as much as 20% of a team’s salary cap, meaning that waiting could yield an annual salary of more than $20 million. Kaprizov is in the final season of a five-year, $45 million contract and is set to become an unrestricted free agent next summer. A top offensive player since his arrival in the NHL five years ago, Kaprizov has logged three 40-goal seasons. At 28, he could now be entering his prime years.

Wild GM Bill Guerin said he remains optimistic the contract situation with Kaprizov will be resolved.

“Kirill’s agent [Paul Theofanous] and I have a very good relationship. We’re working through things,” Guerin said on the 10,000 Takes show [[link removed]] late Wednesday. “We’re not going to let things like this get in the way.”

That comment echoed one earlier this month from Wild owner Craig Leipold in which he said, “This will be a huge deal—likely the biggest in the NHL ever. There’s no better human being or better hockey player or better person than Kirill. I think it will be a good conversation that we’ll have with him. I’m very anxious and looking forward to that conversation.”

The outcome will have significant ripple effects around the league and locally with the Wild, a team that in 25 years of existence has reached the conference finals just once—back in 2003.

Many of the same issues are also playing out in Edmonton as Oilers superstar Connor McDavid, a three-time league Most Valuable Player, is weighing his future options [[link removed]]. He is entering the final season of an eight-year, $100 million contract, but he has been eligible to sign an extension with the Oilers since July. Widely regarded as the league’s foremost talent, McDavid will be well in line to max out his compensation, regardless of whom he signs with or when.

Greg Norman Leaves LIV As Golf World Continues to Shift [[link removed]]

Jamie Sabau-USA TODAY Sports

Another domino has fallen in professional golf’s changing of the guard, as Greg Norman announced he has officially left LIV Golf.

“After four unforgettable years, I have officially closed out my time with LIV Golf, and reflecting with nothing but gratitude, pride and achievement,” Norman wrote on social media [[link removed]] Wednesday.

Norman served as LIV’s CEO and commissioner from October 2021 until this January, when he relinquished day-to-day management of the league to new CEO Scott O’Neil [[link removed]]. His contract expired at the end of August, and he has largely been out of the public eye this year.

“Together, we built a movement that changed the game globally,” Norman’s exit announcement read. “We created opportunities for both players and fans and broaden the ecosystem of golf. We truly globalized the game and expanded golf’s reach to fans around the world. We brought entertainment, innovation and private equity into golf (including to the PGA Tour) positioning the sport as an asset class. It’s been an incredible chapter, and I’m so proud of what we accomplished. My commitment to do what was and still is, the right thing for golf, the players and fans never waivered [sic].”

Norman’s brash leadership style and harsh criticism of the PGA Tour made for a contentious relationship with his counterpart Jay Monahan, who has been commissioner of the PGA Tour since 2017, but in June announced he is also stepping down [[link removed]] to make way for new CEO Brian Rolapp. Like Norman, Monahan has already given up his previous day-to-day duties as commissioner, but his contract with the PGA Tour runs through the end of 2026.

Moving forward, it will be Rolapp and O’Neil who will be tasked with leading any reunification efforts for the men’s professional game. However, neither has indicated that facilitating a merger of the rival tours is a high priority.

Earlier this year, it appeared momentum for a reunion was building, thanks to meetings at the White House [[link removed]] facilitated by President Donald Trump, but that positive chatter has since died down. On Sunday, among the officials accompanying Trump at the US Open men’s tennis final was Yasir Al-Rumayyan, the governor of the Public Investment Fund of Saudi Arabia, which bankrolls LIV. Last month, Rolapp said he had not yet spoken with anyone from the PIF.

FRONT OFFICE SPORTS LIVE

Limited Tickets Remaining

Front Office Sports returns to The Times Center in Manhattan on Sept. 16 for Tuned In [[link removed]], presented by Elevate.

With official partner Nielsen, and supporting partners Greenberg Glusker and Antenna, this daylong event will feature candid conversations with the biggest names in sports media, including:

Adam Silver, NBA Rob Manfred, MLB Kim Ng, AUSL Jimmy Pitaro, ESPN Eric Shanks, FOX Sports Luis Silberwasser, TNT Sports Jay Marine, Amazon Rick Cordella, NBC Sports Betsy Riley, NBC Olympics Maria Taylor, NBC Sports Greg Olsen, Youth Inc. Ian Eagle, CBS Sports Noah Eagle, NBC Sports

Additionally, Stephen A. Smith and Clay Travis will hit the stage for a fiery debate about sports and politics.

Included in your ticket is a full day of programming, lunch, top-tier networking opportunities, and a post-event cocktail hour.

There are fewer than 25 tickets remaining— get yours now [[link removed]].

FRONT OFFICE SPORTS TODAY Adam Silver Addresses Clippers Scandal

FOS illustration

Adam Silver spoke to media members Wednesday about a number of topics, including the ongoing investigation into the Clippers for their alleged circumvention of the salary cap to re-sign Kawhi Leonard. FOS reporter Alex Schiffer joins Baker Machado and Renee Washington with the latest from Silver, and yet another damning update from Pablo Torre.

Plus, we are joined in studio by former MLS and USMNT player Jozy Altidore, who gives his thoughts on whether the USMNT is ready for the biggest stage, and whether the country is ready to host this massive event. Also a part of the Bills’ ownership group, Altidore tells us why the team is focused on developing a Canadian fan base.

Watch the full episode here [[link removed]].

STATUS REPORT Two Up, Two Push

Sam Navarro-Imagn Images

Max Verstappen ⬆ The four-time world champion will be racing this weekend—even if there is no Formula One race scheduled. Verstappen is expected to make his endurance racing debut in the Nürburgring Endurance Series (NLS), where he will drive a Porsche Cayman GT4 CS on Saturday, according to Auto Motor und Sport. He may also race in a Ferrari on Sunday. The 27-year-old, who won F1’s Italian Grand Prix last Sunday, received contractual approval from Red Bull to race outside of F1 this weekend.

Emirates NBA Cup ⬆⬇ The semifinals of the league’s regular-season tournament will not be played at a neutral site starting the 2026–27 season. The league will host the NBA Cup semifinals and final at the T-Mobile Center in Las Vegas this upcoming season, the same site since its inception in 2023. The final will continue to be played at a neutral site starting next season, but it’s unclear whether that will still be in Las Vegas.

Big Data + Panel ⬆ The new audience measurement system from Nielsen [[link removed]] received another boost, as TNT Sports parent Warner Bros. Discovery has signed a new long-term deal with the agency that will include continued use of the enhanced process.

London Super Bowl ⬆⬇ Peter Mandelson, British ambassador to the U.S. and a strong advocate for the NFL bringing the Super Bowl to London, was fired from that political position Thursday [[link removed]] following the disclosure of extensive links with convicted sex offender Jeffrey Epstein. Mandelson said at an event in Chicago last month that he was making a full-fledged effort [[link removed]] for the first international Super Bowl. That initiative is likely to continue without him, and NFL commissioner Roger Goodell has been steadily warming to the idea of bringing the showcase event to London.

AWARDS

Alonzo Mourning Among Athletes for Hope Honorees

Athletes for Hope has announced this year’s Play for Good award winners, including a trio of legends: Special Olympics’ Tim Shriver, Pro Football Hall of Famer John Riggins, and Basketball Hall of Famer Alonzo Mourning.

Play for Good Gala tickets can be purchased here [[link removed]].

All proceeds benefit CHAMPS, AFH’s national youth mental health and leadership program, reaching 230,000 underserved students each month.

Conversation Starters The Capitals are bringing back paper tickets [[link removed]] for one year. Every single 2025–26 season-ticket holder will receive paper tickets. The Spurs are adding a supporter section [[link removed]] next season, an idea proposed by star Victor Wembanyama. The team will hold tryouts for fans who can be part of the section. Las Vegas Sphere CEO James Dolan, who also owns the Knicks and Rangers, said the Wizard of Oz show in the Sphere is generating $2 million per day [[link removed]]. Editors’ Picks Yankees Prepare for Security Chaos With Trump at 9/11 Game, Days After US Open Delays [[link removed]]by Margaret Fleming [[link removed]]The team told fans to arrive three hours early without any bags. Trump’s Golf Empire Grows With 5th Big Tournament in 2 Years [[link removed]]by David Rumsey [[link removed]]The DP World Tour is heading to Trump International Golf Links Ireland. Clippers Minority Owner Allegedly Invested in Aspiration to Pay Kawhi [[link removed]]by Alex Schiffer [[link removed]]Minority investor Dennis Wong allegedly invested in Aspiration as well. Panthers Staffer, Suns Reporter Fired for Charlie Kirk Posts [[link removed]]by Ryan Glasspiegel [[link removed]]Conservative activist Charlie Kirk was fatally shot in Utah on Wednesday. Advertise [[link removed]] Awards [[link removed]] Learning [[link removed]] Events [[link removed]] Video [[link removed]] Shows [[link removed]] Written by Eric Fisher [[link removed]], David Rumsey [[link removed]], Colin Salao [[link removed]] Edited by Or Moyal [[link removed]], Catherine Chen [[link removed]]

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