LEAGUES & TEAMS
Photo: San Diego Padres sells for $3.9B.
San Diego Padres sells for $3.9B, a record franchise sale (Apr. 17th)
Sold to Clearlake Capital co-founder & Managing Partner Jose Feliciano and his wife, Kwanza Jones; 8x revenue, $3.9B sale price
Sale price rose from $2.5B to $4B during the bidding process – very favorable operating agreement with one of MLB’s best ballparks [SBJ]
Rogers Communications explores minority stake sale in sports team portfolio at ~$18B valuation (Apr. 22nd)
Portfolio includes stakes in MLSE (Raptors, Maple Leafs, Toronto FC) and the Blue Jays, with plans to consolidate into a unified sports & media entity
Sale of minority stakes aimed at surfacing asset value and paying down debt, with recapitalization targeted for late 2026 / early 2027 [Sportico]
NHL signals next expansion fee will exceed $1B as league explores future growth (Apr. 22nd)
Commissioner Gary Bettman notes expansion fee would be “substantially more than $1B,” reflecting revenue dilution across existing teams
League has no immediate expansion plans, but ongoing interest persists as valuations and demand for franchises continue to rise [SBJ]
Illinois House passes stadium bill to support Chicago Bears Arlington Heights project (Apr. 23rd)
Creates “megaproject” framework allowing long-term property tax agreements (up to 40 years) to support a new domed stadium
Measure advances after years of delays, but Senate approval remains uncertain as Bears push for further changes [WIFR]
NFL meets with FCC amid scrutiny over streaming media strategy (Apr. 22nd)
Defended its centralized media-rights model and antitrust exemption, arguing it keeps costs lower and distribution simpler for fans [WSJ]
NWSL awards Columbus expansion team to Haslam group for record $205M fee (Apr. 21st)
Haslam Sports Group–led ownership pays $205M fee (part of $300M+ total investment); team will debut in 2028 at ScottsMiracle-Gro Field [SBJ]
Aston Villa accelerates Villa Park North Stand redevelopment, targeting 50K+ capacity (Apr. 21st)
Stand will be closed for the 2026/27 season to fast-track upgrades, including expanded seating and enhanced player facilities
Aiming to boost matchday experience and support UEFA Euro 2028, with full reopening planned for 2027/28 [Aston Villa]
House v. NCAA plaintiffs challenge College Sports Commission’s NIL oversight authority (Apr. 20th)
Argues CSC is overreaching by trying to regulate NIL deals involving multimedia rights firms (e.g., Learfield, Playfly), pushing for court limits on its authority [Sportico]
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STARTUPS & VENTURE CAPITAL
Photo: Cathie Wood’s ARK leads Series B funding for gamified loyalty startup Lucra.
Lucra, a gamified loyalty and esports-style engagement platform, raises $20M Series B led by ARK Invest (Apr. 22nd)
Turns loyalty programs into tournament-style experiences for brands like Five Iron Golf and Dave & Buster’s
Investment led by ARK Invest; other investors include Alumni Ventures, Astralis Capital, Harlo Equity Partners, Simplex Ventures, SeventySix Capital, and WTI [TechCrunch]
PressBox, an AI content automation platform for sports leagues and media, raises $2M seed led by Relay Ventures (Apr. 21st)
Automates articles, newsletters, audio, and highlights for clients like Fanatics, The Sporting News, and World Surf League
Round led by Relay Ventures; other investors include Capital Eleven, Pax Holdings, Alumni Ventures, and ex-NFL COO Mary Ann Turcke [SBJ]
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M&A AND INVESTMENTS
Photo: Churchill Downs Incorporate acquires Preakness Stakes for $85M.
Churchill Downs Incorporated to acquire Preakness Stakes IP for $85M, bringing two Triple Crown races under one owner (Apr. 22nd)
Deal includes IP for the Preakness Stakes and Black-Eyed Susan, consolidating alongside CDI’s Kentucky Derby ownership
CDI will license rights back to Maryland, while local operators retain control of race operations at Pimlico [The Athletic]
Sideline Group, a consumer-focused investment firm backing sports and experiential brands, closes $155M Fund I (Apr. 17th)
Existing portfolio includes Bandit Running, Urban Golf Performance, and global events company MARI
Focused on “offline” experiences, targeting businesses tied to community, active lifestyles, and live events [Sideline Group]
TickPick, a no-fee secondary ticketing platform, acquires Momento, a live event memory tracking app for fans (Apr. 21st)
Momento lets users catalog past events (20M+ tickets saved); integrating into TickPick’s ecosystem but remains a standalone platform [Sportico]
JLL tapped to arrange ~$3B financing for Motown Sports Village, a youth sports mega-complex near Detroit (Apr. 21st)
452-acre development to include arena, multi-sport facilities, hotels, and entertainment assets, targeting the fast-growing youth sports tourism market
JLL to structure senior debt, mezzanine, and equity financing, with initial $40–50M predevelopment raise underway [JLL]
Wasserman (The Team) sale process heats up as PE firms and strategic buyers circle ~$3B deal (Apr. 21st)
Early bidders include Permira, New Mountain Capital, TA Associates, United Talent Agency, and Patrick Whitesell, with process still in early stages
Firm generates ~$200M EBITDA, with Providence Equity (~60% owner) potentially rolling equity depending on deal structure [WSJ]
Jude Bellingham acquires minority stake in Birmingham Phoenix, a Hundred cricket franchise (Apr. 21st)
Purchases ~1.2% stake (~£1M valuation) in hometown franchise, joining Knighthead Capital in ownership group [ESPN]
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STRATEGIC VENTURES
Photo: Oura becomes the official wearable of U.S. Soccer ahead of the World Cup.
Oura becomes official wearable of U.S. Soccer ahead of 2026 World Cup (Apr. 22nd)
Oura Ring to be deployed across all 27 national teams, providing biometric data on recovery, sleep, and performance
Partnership includes integration into athlete monitoring systems and role as founding partner of new national training center [Athletech]
Lewis Hamilton partners with Dave & Adam’s Card World to launch global trading card retail venture (Apr. 17th)
Joint venture “Card Culture” will open stores starting in Germany, expanding to the UK, Australia, and Middle East/Asia to build a global collectibles footprint [The Athletic]
DICK’S Sporting Goods partners with Adobe to deploy AI-powered personalization across athlete journey (Apr. 22nd)
Integrates Adobe’s AI tools to guide product discovery, recommendations, and checkout through a conversational “digital coach” experience [YSBR]
Saudi Arabia drops 2035 Rugby World Cup bid amid PIF spending shift (Apr. 17th)
PIF pulls back as part of “value realization” phase, prioritizing ROI-driven and domestic projects [The Guardian]