FEATURED STORY
The Real Reason Why KKR Bought Arctos
Photo: Arctos founders Doc O’Conner and Ian Charles pictured left to right.
“Sports is officially an institutional asset class.”
Anyone who works around sports deals has heard that line in a thousand different ways: in meetings, on panels, and in almost every write-up that involves any sports transaction. We’re guilty of it too - it’s our favorite way of explaining to friends outside of the industry why there’s so much money to be made.
But it’s overly reductive. In many cases, it’s a disservice to the rationale behind a strategic business move in sports, glossing over the underlying motives behind major transactions.
Which brings us to last week’s headline: KKR (NYSE: KKR) - one of the largest private equity funds - acquires the pioneer of sports private equity, Arctos Partners, for $1.4B.
The consensus takeaway has been predictable:
“Megafunds are here, sports is the asset class now, funds not investing are missing out.”
But that’s just 20% of the story.
So for this week, we’re breaking down what KKR is actually buying with Arctos, why this deal is best understood as a $100B platform opportunity, and how KKR’s playbook around sports will look very different from the rest of the megafund crowd.
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LEAGUES & TEAMS
Photo: Former Red Bull F1 principal Christian Horner exploring acquisition of Alpine F1 team.
Former Red Bull F1 principal Christian Horner explores Alpine stake acquisition at ~$2B-$2.5B valuation (Feb. 10th)
Talks center on buying into Alpine from Otro Capital (24%) or Renault Group’s (76%) holding; Horner may target a controlling stake [SportsPro]
Investment group reportedly explores potential Mavericks buyback with hopes of getting Mark Cuban involved (Feb. 9th)
Group hopes to involve Cuban in a bid for Miriam Adelson & Patrick Dumont-owned Mavericks; owners’ enthusiasm for the franchise’s future reportedly makes sale improbable
Cuban acquired the franchise for ~$285M (2000), selling at a $3.5B valuation in 2023 [SI]
Man United co-owner Avram Glazer eyes IPL’s Royal Challengers Bengaluru and Rajasthan Royals (Feb. 10th)
Expected RCB bids at $1.2B-$1.8B; Royals at $1.2B-$1.4B, per reports
8+ bidders reportedly pursue RCB; while 4 bid for both teams, including Glazer, Sanjay Govil, The Times of India, and Capri Global [SportsPro]
Texas Rangers sells minority stake to sports investment and consultancy firm Sportsology Capital Partners (Feb. 10th)
Move adds to SCP’s minority stake acquisition in France SailGP; firm advised by Hogan Lovells and Moelis & Co. [Sportsology]
Germany SailGP team closes funding round via minority stake sale to consortium of leading sports investors (Feb. 10th)
Blitzer’s Bolt Ventures and Blue Pool Capital join ESL co-founder Ralf Reichert and F1 champ Sebastian Vettel among those in ownership
SailGP expands to 13 nations in 2026; Rolex SailGP Championship returns with ITM New Zealand Sail Grand Prix on Feb. 14-15 for a $12.8M prize [SailGP]
European Super League ambitions wind down as Barcelona exits and Real Madrid reaches deal with UEFA, ending a ~5-year saga (Feb. 11th)
Barcelona formally withdrew earlier this week, leaving Madrid as the last founding SL member; move follows Madrid’s ambitions to ‘claim substantial damages’ of up to ~$5.2B from UEFA [Barrons]
Grand Slam Track to pay athletes up to 85% back according to its Chapter 11 reorganization plan (Feb. 10th)
Plan repays athletes 85% of $7M, vendors split just 1.5% of $12.9M owed
DIP financing led by Bill Ackman’s Winners Alliance, now the league’s largest secured creditor [TheAthletic]
ICC preserves India-Pakistan T20 World Cup fixture amid Pakistan boycott threat (Feb. 9th)
India-Pakistan match to proceed after talks eased boycott risk and venue tensions
ICC warned cancellation could disrupt current rights deals, with major Asia contracts expiring post-2027 [BBC]
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STARTUPS & VENTURE CAPITAL
Photo: Sleep tech startup Somnee wins NFLPA Pitch Day.
Somnee, the EEG-powered sleep tech startup, nabs top spot at the NFLPA Pitch Day (Feb. 10th)
Somnee beat out Epicore Biosystems, a hydration monitoring wearables startup
Benefits include Super Bowl tickets, NFLPA event access, and strategic business support
NFLPA Pitch Day success stories include Culina Health (‘23), Healium (‘22) and WHOOP (‘17) [Athletech]
BLUFF, a social-centric sportsbook and entertainment platform, secures $21M in funding for its ‘next-gen’ betting platform (Feb. 3th)
Funds to scale blockchain-based live prediction markets, igaming, creator-led events, and real-time betting experiences
Investment led by 1kx; other investors include Makers Fund and Maximum Frequency Ventures, among others [AInvest]
Zen8, a dryland swimming training system company, raises ~$1.6M in Seed funding (Feb. 3rd)
Funds target product development, key hires, and investment into marketing & sales; targets triathletes first, then swimmers and fitness
Investment led by Lince Capital; other investors include Celtis, Beta Capital, and Lx Launch [EssentialBusiness]
The Collectiv, a sportstech VC, launches an AI native sports and health & wellness accelerator at Rice’s Ion District (Feb. 4th)
Accelerator supports founders building AI tech across sports, scaled to health, enterprise, and consumer markets
Provides mentorship, pilot programs, and corporate & league access; VC backing via The Collectiv and Mercury Fund [IonDistrict]
Runeasi, a 3D running gait analysis software startup, raises €1M in funding (Feb. 9th)
Funds will accelerate US & international market expansion and advance AI motion analysis tech for physiotherapists, coaches, and sports brands
Investment led by Smarter Ventures; other investors include Freshmen Fund and Gemma Frisius Fund, among others [FinSMEs]
Gamepoint, an India-based sports center chain, raises ~$770K (₹7 crore) in Pre‑Series A funding (Feb. 4th)
Funds target multi‑sport center network scale and enablement of 10M Indians to play sports; plans 300+ centres across metros and Tier I/II cities
Investment led by Zaggle’s Dr. Raj P. Narayanam and VCMint’s Aditya Vuchi [ETIndiaTimes]
Sekra, a longevity-focused wellness apartment startup, raises $12.5M in Seed funding (Feb. 5th)
Firm targets health optimization and moves into residential living; model blends circadian lighting, community, and longevity programming
Investment co-led by Fifth Wall and 8VC [Athletech]
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M&A AND INVESTMENTS
Photo: Genius Sports acquires Legend, a sports & gaming media company, for $1.2B.
Genius Sports agrees to acquire sports & gaming media company Legend for $1.2B, partners with media collective WPP Media (Feb. 5th,10th)
Genius pays $900M upfront ($800M cash, $100M stock) + $300M earnout over 2 yrs; deal closes Q2 2026; Legend owns Covers.com and Casino.org
Apollo earmarks $6B for its Apollo Sports Capital strategy (Feb. 9th)
Apollo plans to target credit and hybrid deals across the sports ecosystem
CEO Marc Rowan sees ‘$30B-$50B in sports deal origination’ beyond core fund capital [Sportico]
Paramount adds to $30/share bid to attempt to acquire Warner Bros. Discovery in hostile takeover (Feb. 10th)
Offer adds $0.25/share quarterly ticking fee if deal drags past 2026
Backed by $43.6B equity, $54B debt; Paramount also covers $2.8B termination fee, which it will pay to Netflix if WBD rejects Netflix’s bid [HollywoodReporter]
Ari Emanuel’s MARI acquires majority stake in live events discovery company Bucket Listers (Feb. 4th)
Acquisition complements MARI portfolio, including TodayTix, Miami Open, Frieze, and Barrett-Jackson, among others [HollywoodReporter]
Giannis Antetokounmpo acquires stakes in Kalshi and Chelsea Women in dual strategic stakes (Feb. 9th)
Giannis takes equity in the prediction market; barred from NBA-related trading
Also joins Alexis Ohanian as minority investor in Chelsea Women; adds to team stakes in Nashville SC, Milwaukee Brewers, Unrivaled, and LA Golf Club (TGL) [SportsPro]
Luka Dončić reportedly linked to prospective Rome-based NBA franchise as investor (Feb. 10th)
Dončić would join a group led by ex-Mavs GM Donnie Nelson to acquire Serie A licensed club Vanoli Basket Cremona and relocate the team to Rome as an NBA Europe expansion team [TheAthletic]
Humain, a PIF-backed AI infrastructure firm, acquires majority stake in sports AI/ML performance analysis startup ai.io to launch a sports vertical (Feb. 10th)
Ai.io’s AI Scout tech used by the MLS, Chelsea, Burnley, ATP Tour, and aiLab
Deal links PIF sports assets, including LIV Golf, PFL, Newcastle United, and ATP & WTA tours with AI talent ID and performance tools [SBJ]
D1 Training, a youth athletic franchise modeled after Division I strength and conditioning, reportedly seeks buyer (Feb. 10th)
Firm has 170+ locations, plans 200th in 2026; backed by Princeton Equity Partners, D1 serves 100K+ scholastic athletes annually
Tim Tebow, Chris Paul, and Peyton Manning serve as ambassadors and franchisees, reportedly [Sportico]
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STRATEGIC VENTURES
Photo: ŌURA becomes the official wearable of Team USA and LA28 Olympics and Paralympic Games.
ŌURA inks deal as the Official Wearable of Team USA and LA28 Olympic & Paralympic Games (Feb. 6th)
Becomes the exclusive provider of continuous health & fitness tracking devices, supporting athletes in sleep, recovery, and wellbeing for ‘26 and ‘28 games
Builds on prior collaborations with US Ski & Snowboard, USA Hockey, US Speed Skating, and Women’s Soccer [ŌURA]
[AI in Leagues] Google partners with the ICC and US Ski & Snowboard; NBC Sports RSNs, Sportradar partner with NBA for broadcast enrichment (Feb. 5th-11th)
ICC (M&W’s T20 World Cups): Gemini becomes the official AI fan companion; Google Pixel, the official smartphone for the tournament
US S&S: AI Athlete performance tool converts smartphones into high-precision motion-capture sensors for skiing/snowboarding via markerless 3D motion capture, real-time insights, and natural-language querying
NBA: GameFrame AI will feature streamlined graphics, animated replays, and shot charts via live player-tracking data [SVG] [USSki&Snow] [Sportradar]
Aston Martin F1 partners with temperature-regulating sleep tech company Eight Sleep to enhance driver performance and recovery (Feb. 10th)
Pod sleep systems to be provided for drivers and team personnel; deal includes branding integration via logo placement
Move follows Eight Sleep’s $100M Series D funding round back in August 2025 [AstonMartinF1]
Apple reportedly eyes scale back of AI Health+ coaching service amid a crowded health wearables market (Feb. 9th)
Standalone Health+ service shelved; features now integrated into Apple Health; AI coaching, workout analysis, and lifestyle recommendations may roll out gradually [Athletech]
Real Madrid joins X for 10-episode original series ‘Real Talks’ (Feb. 9th)
X to produce new original content featuring the club, set to premiere Feb. 13th
Episodes will feature one Real Madrid star engaging with fan-generated questions, spanning training secrets, player ambitions, and BTS storytelling [Broadcast]
Nike inks deals with three national flag football federations ahead of LA28 (Feb. 4th)
Nike signs Canada, Great Britain, and Mexico federations, supporting men’s/women’s flag and tackle teams at national and developmental levels
Partnerships include outfitting teams, product innovation, and programs to increase access within youth athletics [Nike]
NBA announces 200+ content creator roster to fuel All-Star Week (Feb. 11th)
Creators, with a collective reach of 1B+ followers, will activate on-court, in-arena, and digitally; Jesser, Druski, Lethal Shooter, and Dude Perfect, among key participants
Creator Cup 3v3, Celebrity 3-Point Contest, pop-ups, and live streams featured; inaugural Creator Court to feature interactive fan activations [NBA]
MLB Players Inc. signs licensing deal with AI avatar company Genies (Feb. 5th)
MLBP, Genies to create AI avatars of MLB stars’ likeness; move follows partnerships with the NFLPA and NBPA [Genies]
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JOB BOARD
Here are some cool roles we found and personally curated this week - enjoy!