The San Francisco 49ers have reached an agreement to sell about 6% of the NFL franchise to a trio of Bay Area families at a valuation higher than $8.5 billion, according to a person familiar with the details, the highest valuation ever for a global sports team in a transaction. The buyers are the Khosla family, the Griffith family and Deeter family, with the Khosla family is buying the biggest stake, but it is unclear exactly how the 6% is being broken up between the three.

An NBA and WNBA franchise are up for grabs: The owners of the WNBA’s Connecticut Sun hired investment bank Allen & Company to explore the sale of the franchise, according to multiple people familiar with the details. Mohegan Sun, a subsidiary of Mohegan Tribal Gaming Authority, has owned the club since 2003. Additionally, The Portland Trail Blazers have hired a bank to begin the long-expected process of selling the NBA team. The Blazers said in a social media post on Tuesday that the team had hired Allen & Co. The NBA team is currently owned by the estate of late owner Paul Allen, who died in 2018. Allen asked that his sports teams—mainly the Blazers and NFL’s Seattle Seahawks—be sold after his death.

The FTC has warned StubHub for not fully disclosing the total price of tickets, including mandatory fees like service and fulfillment charges, in violation of the new Fees Rule. The new FTC rule, which took effect Monday, requires resale marketplaces for event tickets and vacation rentals to disclose up front the full price of the item, including service fees, processing fees and other hidden charges. Announced back in December, the consumer protection order is called the “Junk Fees Rule,” in reference to the extra charges that are often held back until the end of the checkout process.

ESPN's direct-to-consumer streaming service will launch in early fall with a $29.99 per month price point, ESPN chairman Jimmy Pitaro announced Tuesday. The service will keep the linear network's name -- ESPN.

Dick’s Sporting Goods is reportedly close to finalizing a deal to acquire Foot Locker Inc. for approximately $2.3 billion, according to a Wall Street Journal report released Wednesday night. The acquisition would significantly reshape the athletic footwear industry, granting Dick’s Sporting Goods a strong international foothold and increased negotiating power with major brands such as Nike and Adidas.

Hall of Fame Resort & Entertainment is ending its five-year run as a publicly traded company after agreeing to be acquired by real estate developer Stuart Lichter—its largest shareholder—for 90 cents per share.

Women’s soccer legend Alex Morgan has taken a minority ownership stake in the San Diego Wave. Morgan played her final three seasons in the NWSL with the Wave before announcing her retirement in September.

Youth sports platform Unrivaled Sports has received a $120 million investment led by Dick’s Sporting Goods and featuring participation from Miller Sports + Entertainment, Dynasty Equity, LionTree and The Chernin Group.

And to end on good news - longtime commentator Dick Vitale has announced he has been declared cancer-free by his doctors.

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