Photo Creds: Bahrain acquiring McClaren in 2024.

From Apollo $5B Fund to McLaren’s Sovereign Takeover

We’ve all heard the cliché: “institutional capital is coming to sports.” The truth is, it’s already here. The real story now is how that capital is being carved across the sports stack - with very different return targets and strategic goals.

All in this past week - Apollo, Chiron Sports Group, and Middle Eastern Sovereign Wealth Funds made the fragmentation crystal clear:

1. Apollo Global ($800B AUM) unveiled a $5B permanent-capital sports vehicle.

  • The model: treat clubs like toll roads. Private credit + minority equity → steady yield, optional upside.

  • £80M loan to Nottingham Forest (stadium-secured).

  • £40M loan at ~10% to Sports Invest Holdings (Kia Joorabchian’s agency).

  • Past interest: Atlético Madrid stake talks, a $1.25B Liga MX proposal.

Apollo isn’t chasing fandom. It’s packaging sports into predictable, replicable instruments - much like infrastructure funds that earn steady coupons from bridges, airports, or energy assets, then capture equity appreciation when valuations climb.

2. Chiron Sports Group launched Legacy 25, a $150M fund backed by family offices and athletes like Rob Gronkowski.

  • The model: growth equity → inject capital, build NIL collectives, monetize operations where boosters once filled the gap.

  • The target: college athletics, especially mid-majors and non-revenue sports. The bet is that NIL-era programs can be professionalized like startups.

If Apollo is about steady IRR, Chiron is about venture-style multiples - betting small checks can unlock asymmetric 5-10x returns in the “blue ocean” of NIL college sports.

3. Bahrain’s Mumtalakat and Abu Dhabi’s CYVN consolidated full ownership of McLaren Racing at a £3B+ ($4B+) valuation, handing MSP Sports Capital and Ares a profitable exit.

Unlike Apollo or Chiron, sovereigns aren’t primarily chasing financial IRR. Their playbook is strategic:

  • Soft power: global visibility through iconic sports brands.

  • Economic diversification: tie motorsport, football, and golf into national tourism and entertainment.

  • Control: majority ownership aligns clubs with state agendas (Saudi Vision 2030, Qatar’s global sports diplomacy).

The effect: sovereigns often reset valuation norms, paying premiums that pure financial investors won’t, and in turn reshaping geopolitics along with the global sports landscape.

This Week: Three Pools, Three Motives

Line them up, and the sports capital stack looks like this:

  • Institutionals (Apollo, Sixth Street, Arctos): yield + minority equity, treating sports like infrastructure plays.

  • Specialists (Chiron, athlete-backed funds): growth equity aimed at college athletics and other under-monetized programs where returns can still be unlocked.

  • Sovereigns (Mumtalakat, CYVN, PIF, QIA): soft power and control, using sports as diplomacy and branding.

This isn’t about when capital arrives, it already has. The next decade is about segmentation: different pools of money chasing yield, growth, or power.

Sports has become a modular asset class. Apollo doesn’t necessarily care about NIL. Chiron doesn’t need 5% of Atlético. Sovereigns aren’t in it for 15% IRR. They’re all in sports, but for radically different reasons. And this past week alone showed us how sports finance is becoming stratified.

Sports-Tech Market Activity: Investors & Deals

Accelerators

  • Shochiku Ventures, a Japanese entertainment-based CVC group, backs two startup finalists in first ‘Global Game Accelerator’ (Sept. 2nd)

    • Blacknut Cloud Gaming operates across Europe, Asia, MENA, and Americas, partners with ISPs, device manufacturers, OTT & media companies for DTC solutions with 500+ games on cloud platforms

    • Ememe Co’s (AI text-to-motion) tech auto-generates 3D animation from text—based on physical laws, reducing production costs for game studios

    • Startups chosen from 200+ applicants: each receiving $50K, publisher introductions, and chance to demo at Tokyo event Sept. 24 with gaming fintech company Xsolla [GamesPress]

  • USTA hosts second US Open networking event to link up key startup, league, and investor players (Aug. 29th)

    • Supports USTA’s long-term goal of 35M active US tennis players by 2035

    • Event gathered 100+ attendees, including MLS, NBA, NHL, Apple, and Google execs; Move connects USTA Connect (39 partners) and USTA Ventures (tennis-focused investments) companies with invaluable connections [SBJ]

Venture Capital

  • PlayMaker, a sports sponsorship platform centralizing sponsorship agreements that uses AI to track obligations and build activation roadmaps, raises $1M in Seed funding (Sept. 4th)

  • AIStats, a football (soccer) analytics platform developing advanced real-time metrics and predictive insights via computer vision and machine learning, raises $1.1M in funding (Aug. 29th)

    • Funding will support development of its football analysis foundation model with closed beta and mobile app offerings out currently

    • Investment backed by Acquinox Capital, among other angel investors [RTIH]

  • Model Health, a biomechanics startup using motion-tracking and computer vision via smartphone for lab-grade insights, targeting sports clinics and pro organizations, raises $1M+ in Pre-Seed (Sept. 2nd)

  • Blue Jeans Golf, a golf entertainment brand investing in driving ranges, raised $20M in Series B funding (Sept. 3rd)

    • Funding will support acquisition of up to 12 driving ranges for ‘Golf Ranch’ brand by 2026, building on 5+ current/finalized locations

    • Long-term plan includes scaling to 50 sites and 100K members, positioning Golf Ranch as the hub of ‘Golf Lite’

    • Investment led by Old Tom Capital and Creator Sports Capital [SBJ]

  • Bayes Market, an Asia-focused social prediction platform spanning entertainment, pop culture, and social issues, raises $2M in funding (Sept. 2nd)

    • Funds to accelerate product development, regional expansion, and user acquisition

    • Investment backed by GreenVision Fund, Jkapital, and Bearcat, among others [FinSMEs]

  • Flex, a fintech startup providing an all-in-one payment infrastructure for direct-to-consumer (DTC) health and wellness brands, raises $15M in Series A funding (Sept. 3rd)

    • Platform enables health and wellness brands to accept HSA/FSA payments, tapping into $150B+ in pre-tax health spending

    • Funding will support team growth, product enhancements, and stronger consumer shopping experiences

    • Investment led by First Round and Core VC; other investors include Y Combinator and Rethink Impact, among others [FinSMEs]

  • Sheba Joy, the Riyadh-based mobile gaming studio behind ‘Ludo Chat’ and ‘Town Stars’ titles, raised $293K in Pre-Seed funding (Aug. 29th)

    • Plans to launch four additional titles this year and scale operations following HQ relocation from Dubai to Riyadh

    • Part of Exel by Merak’s (accelerator) $300K investments (each) in 17 Saudi Arabian game startups

    • Investment led by Merak Capital [PocketGamer]

M&A and Investments

  • Chiron Sports Group, a Swiss sports investment firm, targets US college athletics, launching $150M ‘Legacy 25’ fund (Aug. 29th)

    • Legacy 25 to invest across college programs, focusing on roster building, NIL initiatives, and boosting revenue for mid-majors and non-revenue sports

    • Fund backed by ex-Patriots Rob Gronkowski, Jason & Devin McCourty, Brian Hoyer, and Matt Slater

    • Strategic partners include Jump, Vega Sports Intelligence, YBVR, CSMG, and College Sports Co [Sportico]

  • New York Giants, the 3rd most valuable NFL franchise, sells 10% stake to Koch family at $10B+ valuation (Sept. 3rd)

  • Speech Graphics, a speech-to-facial animation tech firm, acquires facial animation tech company OC3 Entertainment’s assets (Sept. 2nd)

    • Acquisition includes FaceFX, used in major titles including GTA V, Halo, Starfield, and Baldur’s Gate 3

    • OC3 CTO Jamie Redmond joins Speech Graphics to continue FaceFX support and advance next-gen animation tools

    • Deal consolidates market leaders, enhancing realism and scalability for gaming, film, and digital experiences [BusinessWire]

  • Aonic, a gaming and multiplatform tech group, acquires market research firm Prime Insights for $250M+ in largest deal to date (Sept. 4th)

    • Creates unified global rewards and data platform spanning 50M+ consumers, 12 brands, and $300M+ annual revenues

    • Both firms achieved 80%+ organic growth in last two years, doubling scale across gaming and consumer insights [Gamigion]

  • Sports betting infrastructure startup SharpSports merges with consumer-facing betting platform Pine Sports (Sept. 2nd)

    • Pine Sports, renowned for its sports betting analyst LLM companion ‘jaXon’

    • SharpSports provides bet-tracking and data solutions for companies, including OddsJam, RotoWire, and Covers

    • New offerings to include advanced NFL metrics and white-label AI chat interface, with NFL season as the proving ground for the merged strategy [Next.io]

  • Saudi billionaire and Kingdom Holding Co. founder Prince Alwaleed reportedly in talks with PIF to acquire majority stake in SPL club Al Hilal FC (Sept. 2)

    • Negotiations center on PIF’s 75% stake; Alwaleed already linked to the remaining 25% via a non-profit he funds

    • Would mark one of Saudi Arabia’s most high-profile football privatizations, aligning with Vision 2030 diversification goals [Bloomberg]

  • Castore, a UK sportswear brand, secures investment from chemicals company INEOS alongside ‘Belstaff’ acquisition (Aug. 29th)

    • Ineos invested in Castore as the company acquired Belstaff– an Ineos company

    • Castore, valued at ~£1B in 2023, after £145M funding round led by Raine Group

    • Partnership provides Castore with fresh capital and lifestyle brand to expand beyond core sportswear business [SportsPro]

  • Superstudio Events, a Milan-based event venues operator, acquires live events audio, video, and lighting (AVL) service operator Audiolux to form €31M integrated AVL group (Sept. 4th)

    • Expands Superstudio’s AVL offerings for events, TV productions, and live shows

    • Combined entity projects €31M turnover with 33% EBITDA margin, creating a leading European integrated operator

    • Client base spans global brands, major events, including Honda, Campari, Sky, F1 Monza GP, and Nitto ATP Finals, among others [FinSMEs]

Strategic Ventures

  • Underdog, a fantasy sports and betting unicorn, partners with Crypto.com and affiliate Derivatives North America (CDNA), to launch prediction markets (Sept. 2nd)

    • Underdog users can now trade CFTC-regulated sports futures contracts in-app

    • Partnership leverages Crypto.com’s exchange, which first introduced US sports prediction contracts in Dec. 2024

    • Move positions Underdog as first licensed US gaming operator to integrate prediction markets; follows FanDuel–CME partnership, alongside competing markets Polymarket, Kalshi, and DraftKings entering the space [Sportico]

  • Skydance’s Paramount agrees to film deal with Activision to produce Call of Duty movie (Sept. 2nd)

    • Paramount to develop, produce, and distribute the live-action film, expanding the franchise to new audiences

    • Deal reinforces Microsoft’s push to monetize Activision IP beyond games, following April’s $957.7M Minecraft film success [Paramount]

  • USTA tests metaverse, reportedly working with Roblox and Fortnite for US Open fan engagement (Sept. 2nd)

    • Launch of ‘Champions of the Court 2025’ via Roblox mirrors tournament grounds, complete with sponsor tie-ins like Ralph Lauren

    • Part of broader digital push as ATP taps TikTok and Overtime partnerships to reach younger fans [SBJ]

  • Sportz Interactive, a sports-focused tech and fan engagement firm, generates AI-powered anthems for India’s Pro Kabaddi League teams (Aug. 30th)

    • SI produces three distinct team anthems for the Bengal Warriorz, Gujarat Giants, and UP Yoddhas — blending AI-generated music, visuals, and player avatars

    • Campaigns aim to deepen Gen Z fan engagement, highlighting AI as a tool for speed, creativity, and cost efficiency in sports storytelling [SportsPro]

  • Fox Sports unveils new high-tech XR studio for ‘NFL Kickoff’ in collaboration with Architecture van Brandenburg (Sept. 2nd)

    • Stage B overhaul adds 54M+ LED lights and doubles the size of Stage A’s LED volume walls

    • Powered by 36 rendering engines using camera tracking system Pixotope via Unreal Engine to deliver extended reality graphics

    • Studio will host NFL Kickoff, plus select college football, MLB postseason, and FIFA World Cup coverage [SBJ]

  • Cosm’s immersive LED domes to feature key FOX Sports events following multi-year Shared Reality partnership deal (Aug. 29th)

    • FOX Sports’ top events, including College Football, NFL, MLB, and Daytona 500, set to stream in Cosm’s 87-foot, 12K+ LED dome venues

    • Partnership launches with Texas vs. Ohio State, building on prior Emmy-winning collaborations in immersive storytelling

    • Cosm operates venues in LA and Dallas, with Atlanta '26, Detroit '26, and Cleveland '27 expansions planned [Cosm]

  • Good Good Golf, a creator-driven golf media and lifestyle brand, launches Discord community following $45M backing from Creator Sports Capital and Omaha Productions (Sept. 4th)

    • Expansion strategy spans retail, live events, and content activations

    • New platform offers fan engagement via fantasy challenges, gaming events, and monthly interactions with creators

    • Brand engages 1.9M YouTube subscribers; 75% of revenue from apparel, now rivaling traditional golf lifestyle labels [Sportico]

  • World Sevens, a global women’s 7v7 soccer series, taps full-service agency HS&E for media and sponsorship strategy (Sept. 4th)

    • Next tournament set for Dec. 5–7 in Fort Lauderdale, offering $5M prize pool and potential new league partners

    • DAZN holds global streaming rights, aiming to scale reach through free broadcasts and digital-first engagement

    • Backed by $100M investment over five years, W7s debuted in April with Bayern Munich winning inaugural event [Sportico]

  • WSL, England’s top women’s soccer league, secured 13 international media rights deals for 2025/26 season (Sept. 4th)

    • WSL YouTube to stream all games in markets without partner, expanding reach for global fans

    • Broadcasters include Stan Sport (AUS), Rogers (CAN), Movistar (ESP), Fox (MX/C. America), BeIN (SE Asia), Dubai TV (MENA), and Azam TV (SS Africa)

    • Move builds on UK£65M domestic rights deals with Sky and BBC; international audience already 72M+, with 76% outside UK [SportsPro]

  • ICC, cricket’s global governing body, partners with Google to elevate women’s cricket (Aug. 29th)

    • Move follows Unilever deal earlier this year as ICC’s first global women’s partner

    • Partnership spans flagship events: Women’s Cricket World Cup 2025 (India/Sri Lanka) and T20 World Cup 2026 (England/Wales)

    • Integration of Android, Gemini, Pixel, and Google Pay aims to boost worldwide fan access, storytelling, and engagement [ICC]

Job Board & Opportunities: Week of Sept. 5th

Here are some cool roles we found and personally curated this week - enjoy!

1. Netflix - Coordinator, Nonfiction Sports Marketing: 3+ Years of Experience / $120K

2. BOLD (Venture Fund of L’Oreal) - Part-Time Investment Analyst

3. Brodie Sports Group - Director of Sales & Acquisition: $109K + Commission

4. Vivenu - Go-To-Market Strategy & Operations Manager: 1-3 Years of Experience

5. Bullpen Capital (Early FanDuel Investors) - VC Analyst: 0-3 Years of Experience

6. Augusta National Golf Club - Sr. Manager, Financial Planning & Analysis: 7+ Years of Exp

7. NHL - Senior Director, Club Business Affairs: 6+ Years of Experience / $175K

8. Boston Legacy - VP, Finance (Founding Executive Team): 8+ Years of Experience

9. KRAFTON - Games Investment & Corporate Development Director: 8+ Years of Experience

10. Altius Sports Partners - Senior Vice President, College Strategy

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