Good morning and welcome to The Closer, the newsletter all about deals. It’s Monday, June 30th, 2025 — and sports are suddenly a serious asset class. A landmark deal to sell the Los Angeles Lakers at a $10 billion valuation has stunned even seasoned investors, setting a new bar not just for teams, but for how global capital views scarcity, fandom, and brand. When franchises start trading like private equity platforms, it’s no longer just about basketball — it’s about financialization.
This week, sports valuations go from cocktail chatter to capital allocation strategy. We dig into what the Lakers deal means, what’s coming in Liberty’s MotoGP ruling, and how the next media-rights cycle could reshape the M&A math.
Plus: oil’s risk premium cools (but isn’t gone), Powell heads to Sintra with a new mandate, a fresh hostile bid gains momentum, and a negotiation trick that might just earn you 8% more.
WEEK AHEAD
June 30 – July 4 Calendar
```Macro / Events
ISM Manufacturing final for June @ 10am ET
Deals & Reg Risk
Quiet docket
Markets
Half-day volumes ahead of month-/quarter-end rolls
Macro / Events
Eurozone flash CPI (cons. 1.9% YoY)
RBA decision widely flagged for July 8, traders start pricing today
Deals & Reg Risk
EU ruling deadline on Liberty Media's €3.5B MotoGP/Dorna buy
Markets
Constellation Brands, MSC Industrial, Greenbrier report before bell
Macro / Events
ECB Sintra forum – Powell, Lagarde, Ueda speak
Deals & Reg Risk
OPEC+ ministerial (output hike odds 65%)
Markets
UniFirst earnings pre-market
Macro / Events
U.S. early close 1:00pm ET; bonds 2:00pm ET. No major data.
Deals & Reg Risk
Mars–Kellanova parties file first EU remedy outline after Phase II probe
Markets
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U.S. MARKETS CLOSED
Independence Day
WEEK'S WATCHLIST
- Central bank convergence at ECB Sintra (Powell + Lagarde + Ueda)
- EU antitrust decisions on MotoGP and Mars–Kellanova
- OPEC+ output decision amid summer driving season
- Shortened U.S. trading week with July 4th holiday
