Photo Creds: Basketball Africa League’s Inaugural Championship in 2021
In 1995, the NFL relaunched NFL Europe in an ambitious attempt to plant American football across the Atlantic. Franchises were developed in Germany, U.K., Spain, Netherlands, and Scotland - built around three main goals:
Create a pathway for Europeans to play professionally
Draw international viewership to an American sport overshadowed by soccer
Build generational fandom that could globalize the game
But by 2007, the league was in shambles. Despite producing a few NFL legends - Kurt Warner, Adam Vinatieri, and James Harrison - NFL Europe racked up $400M in losses. The issue ran deeper than just struggling finances: American football culture never took root, and without local infrastructure, there was no real pipeline for European talent.
The NFL pulled the plug on the operation.
For years, NFL Europe’s collapse stood as a cautionary tale for the Big 4 American Leagues - stay away from developing pro leagues abroad.
Until NBA Africa created the Basketball Africa League (BAL) in 2019.
Fast forward to today: NBA Africa is a $1B+ operation, and is now selling franchises to outside investors, the next big step in building a permanent hold in Africa.
So why has the NBA succeeded in Africa where the NFL failed in Europe?
Simple: the NBA built from the ground up - fandom, infrastructure, and identity first - with the league as the connective tissue tying it all together.
Basketball Africa League’s Success
Launched in 2021 as a joint venture between FIBA and the NBA, the BAL set out with the same ambitions NFL Europe once had - to grow access, build fandom, and elevate the sport’s global footprint.
But unlike the NFL’s failed experiment, the BAL is thriving.
Now shifting from a Champions League-style qualification system to a permanent 12-team franchise model, the league is opening the door for investors to own teams, develop arenas, and cement long-term infrastructure.
The move make sense - the league has been crushing it:
Expansion: Franchises span Morocco, Egypt, Rwanda, Senegal, and Libya to name a few
Economic Impact: Over $250M contributed to Africa’s GDP since 2021.
Jobs Created: Nearly 37K+ across events, hospitality, and development.
Attendance: Record ~111K fans in 2025 group phases, plus thousands engaged through youth and media programs
The market tailwinds are equally strong. Africa’s sports industry is projected to reach $20B by 2035, with basketball emerging as the second most popular sport in countries like Nigeria, Ghana, and Rwanda. Rapid digitization is accelerating that growth - smartphone penetration is expected to jump from ~44% in 2023 to 88% by 2030. And in nations with remarkably young populations like Senegal (median age of 18), that means massive potential for digital fandom, streaming, and ticketed engagement.
There’s culture momentum building behind basketball in Africa - football in Europe never had that when NFL Europe was a thing. It’s the product of a methodical, grassroots movement led by the NBA, snowballing into BAL’s success.
Building the Culture
A top-down approach has never built generational fandom.
That’s why the NBA took the opposite route in Africa - starting at the grassroots level, focusing on youth development, infrastructure, and accessibility. While limited government funding has slowed local infrastructure growth, the NBA stepped in to invest directly:
1,000 Courts Initiative: Pledged in 2024 to build and renovate 1,000 courts across the continent - a $50-100M, decade-long project (12 already completed)
NBA Academy Africa: A professional-grade training facility in Senegal run by former pros, reaching 170K+ youth since 2017
Basketball Without Borders: Annual camps giving young African players access to elite coaching and exposure
BAL Arena Initiatives: Supported multipurpose arenas in Kigali and Dakar, and partnered with Kenya’s government and Zaria Group (co-founded by Raptors president Masai Ujiri) to develop a new arena in Nairobi
Beyond the league itself, African NBA stars have been central to this movement. Dikembe Mutombo (BWB co-founder), Hakeem Olajuwon (Power Forward Nigeria), Joel Embiid (Giants of Africa), Luol Deng (Foundation + NBA Africa investor), and Joakim Noah (Foundation clinics + NBA Africa investor) have all helped drive basketball’s expansion on the continent.
The NBA’s grassroots commitment runs deep - the catalyst behind the BAL’s success. It’s the blueprint for how the Big 4 can build international leagues that don’t just expand the game, but cultivate a lasting culture.
Sports-Tech Market Activity: Investors & Deals
League & Team Transactions
NFL hints at lift on 10% PE ownership cap as investment interest grows, following ‘successful’ campaign (Oct. 2nd)
Roger Goodell said the NFL could eventually allow private equity firms to own 10%+ of teams, following league’s 2024 rule change
Policy aims to give owners greater liquidity and access to institutional capital while maintaining control within current ownership groups [SportsPro]
New international ‘Project B’ basketball venture seeks $5B to launch global 5-on-5 men’s and women’s leagues, Maverick Carter out (Oct. 7th)
Led by Skype’s Geoff Prentice and ex-Facebook Grady Burnett; league plans to debut Fall 2026, with tournaments in Asia, Europe, and LATAM and equity stakes for players
Group includes Novak Djokovic, Candace Parker, Steve Young, and Sloane Stephens, with Alana Beard serving as co-founder and chief basketball officer [FOS]
NWSL’s Houston Dash to be sold to S&E investment firm RHC Group for $120M, up from $74M last year (Oct. 8th)
RHC, founded by Xiao Jianhua’s son Richard Hsiao, nears $120M acquisition, marking one of the highest prices for a lower-revenue NWSL franchise
Deal would separate Dash from Houston Dynamo, which Ted Segal acquired together for ~$400M (2021); approval from NWSL Board pending amid funding-source reviews [Sportico]
UFL, a pro spring football league, expands, unveiling three new franchises and rebranding key teams, amid declining viewership and attendance numbers (Oct. 8th)
Columbus Aviators, Louisville Kings, and Orlando Storm replace Memphis, Michigan, and San Antonio teams, all playing in MLS/NWSL soccer-specific stadiums
New ownership group led by Mike Repole (Impact Capital), Fox, RedBird, ESPN, and Dwayne Johnson aims to stabilize spring football with smaller, more local venues [SportsPro]
Crux Football, a women’s football multi-club ownership platform, acquires French side Montpellier HSC Féminines in first deal (Oct. 1st)
Crux takes control of its women’s teams, academies, and commercial operations
Plans to expand across Europe, targeting clubs in the UK, Scandinavia, and Spain; raising $50M to fund additional acquisitions [Bloomberg]
City of San Jose acquires $13.5M 3.56-acre site to expand sports and entertainment district (Oct. 3rd)
Acquisition supports plans to expand convention center and develop a connected sports and entertainment zone
San Jose recently renewed its NHL Sharks agreement through 2051, including SAP Center renovations to anchor the district [SBJ]
Breakaway rugby competition R360 adds UAE’s 885 Capital as backer to fund new global women’s rugby league (Oct. 2nd)
League secures full funding for first three editions after adding 885 to investor group
England’s Women’s Super League (WSL) taps Goldman Sachs to explore new funding options for women’s soccer growth (Oct. 6th)
Organizing body WSL Football to assess financing options, including potential stake sale
Deloitte is also being lined up as advisor after recent role in The Hundred franchise sales; WSL clubs’ aggregate revenue rose 34% YoY to £65M (US$87.3M) in 2023/24 [SportsPro]
Funds
Sharp Alpha, a sports, gaming, and entertainment fund, closes $150M in non-dilutive capital for user acquisition (UA) (Oct. 6th)
Fund to invest $4M-$30M/deal, focusing on firms generating $10M-$100M revenue and nearing profitability; online gaming and interactive entertainment as prime candidates [GamesBeat]
Venture Capital
Splash Sports, a peer-to-peer sports gaming platform operating real-money games, raises $14.5M in Series B funding (Oct. 8th)
Funds to expand product suite, scale marketing and partnerships, and deepen its footprint across the US and Canada
Investment led by Dream Ventures; other investors include EP Golf Ventures, Boston Seed, and Velvet Sea Ventures, among others [SplashSports]
Helios, a performance wearables sensor startup that tracks on-ice movement metrics for hockey players, raises $2.2M in Seed funding (Oct. 3rd)
Aims to expand from youth to collegiate and pro hockey markets; tracks stride speed, agility, and skating time - without requiring arena-installed hardware
Investment backed by Stadia Ventures and Oregon Sports Angels alongside Hockey HOFer Ron Francis and pro Alex Kerfoot [SBJ]
Simple Life, a health and wellness app leveraging AI-powered coaching for weight loss via nutrition scores, receives $35M in Series B funding, led by Kevin Hart’s Hartbeat Ventures (October 9th)
Funds will support development of gamified companion, AI-assisted content creation, and hyper-personalized features
Investment led by Kevin Hart’s Hartbeat Ventures; other investors include private credit firm Liquidity [Athletech]
M&A and Investments
Mari, a new Ari Emanuel-led global live events holding company, raised $2B in equity, backed by Apollo, RedBird, QIA (Oct. 8th)
Consolidates assets from Endeavor, including the Madrid Open and Miami Open, among other top-tier tennis tournaments
Venture extends beyond tennis to include Frieze (arts) and Barrett-Jackson (auto auctions), signaling a broader bet on cultural experiences and live entertainment [SportsPro]
Paramount Skydance seeks private equity backing for potential all-cash $60B Warner Bros. Discovery bid (Oct. 8th)
David Ellison reportedly ‘in talks’ with Apollo and other firms to fund potential bid
Move follows Skydance’s $8B merger with Paramount and recent $150M acquisition of The Free Press, as Ellison looks to expand the studio’s scale and streaming footprint [PEInsights]
NYSE’s parent company Intercontinental Exchange ‘plans to invest’ up to $2B in crypto-powered prediction market Polymarket, valuing it at $8B (Oct. 7th)
Deal marks sharp jump in valuation, up from $1B in last funding round (August)
Buyo Capital, NJF Capital reportedly lead bid to acquire sports marketing agency Infront Sports & Media from Chinese conglomerate Wanda Group (Oct. 7th)
Consortium ‘in talks’ to acquire firm, which was bought for €1.05B ($1.22B) in 2015
Follows financial strain on Wanda’s real estate business, prompting divestment of non-core assets, including Infront’s units sold to Next League (2023) and WSC (2025) [SportsPro]
Sony acquires majority stake in athlete wearables tracking company STATSports Group to expand its sports data business (Oct. 8th)
Adds STATSports’ wearable tracking tech, used by 800+ elite teams including Arsenal, Liverpool, PSG, and England national team, to Sony’s sports tech portfolio
Sony to integrate GPS, sensor-based performance systems with Hawk-Eye, KinaTrax, and Beyond Sports, for comprehensive optical + wearable tracking ecosystem across pro sports [PRN]
Midnite, a UK-based sportsbook and casino platform spanning sports betting, casino games, and esports wagering, secures $100M in financing (Oct. 2nd)
Capital will support user acquisition, platform enhancements, talent pool, and product development
Investment led by PvX Partners; other investor includes returning backer Discerning Capital [EsportsInsider]
Seat Unique, a Harry Kane-backed online ticketing marketplace for premium seats, acquires premium soccer experiences company Circuit Hospitality to expand venue offerings (Oct. 8th)
Acquisition follows 7.9K% revenue growth in four years for Seat Unique
Deal marks Seat Unique’s first acquisition, adding Circuit’s hospitality network across major UK venues, including Wembley Stadium, Manchester United, and Everton [SeatUnique]
Photo Creds: Grand Slam Track secures emergency funding to keep the league alive.
Strategic Ventures
Michael Johnson’s Grand Slam Track secures emergency funding to repay athletes, staving off potential legal action, eyes 2026 return (Oct. 6th)
League obtains funds to cover 50% of athletes’ unpaid prize and appearance fees; set to spend next 60 days developing 2026 relaunch plan, continuing to seek new investors
GST planned $12.6M in prize money across four events, but its final 2025 event was canceled after key backer withdrew support [SportsPro]
ESPN and Fox launch streaming bundle combining ESPN+ and Fox One (Oct. 2nd)
New bundle offers ESPN’s DTC service and Fox One together for $39.99/month, ~$10 cheaper than separate subscriptions
Move revives momentum after discontinuation of ESPN-Fox-WBD joint venture, Venu Sports; reunites two of three Venu partners, following Fubo’s antitrust suit [SBJ]
Netflix set to bid for exclusive global UEFA Champions League rights in upcoming media cycle (Oct. 9th)
UEFA’s next broadcast cycle (2027–30) could include global rights package - a first for the organization - as it could seek annual media revenues from €4.4B to €5B
Netflix considers bid for one exclusive global match per round, competing with DAZN, Sky, and Warner Bros. Discovery under UEFA’s new structure led by Relevent Sports [SportsPro]
EA Sports partners with The Athletic for sports content integration via games and app, in sports media ecosystem push (Oct. 8th)
The Athletic’s written and video coverage will appear across EA Sports FC, NFL, F1, and college football titles, as well as within expanded EA Sports App
Marks The Athletic’s first in-game media integration; reflects EA’s push to evolve from gaming publisher into sports media ecosystem [SportsPro]
Lululemon x Fanatics x NHL collection expands from 11–club pilot, last year
Move reinforces Fanatics’ league merchandise dominance; deepens Lululemon’s entry into licensed sports apparel, aligning with rising demand for high-end fan gear [NHL]
Man City enters US media collaboration with Paramount+ amid 2025/26 UEFA Champions League campaign (Oct. 9th)
Deal brings Paramount+ branding and content via City’s US digital and social channels
Move extends City’s decade-long US expansion strategy, following City Studios NYC and preseason tours aimed at building deeper fan engagement [ManCity]
MLS expands fan data partnership with S&E–focused customer data platform StellarAlgo (Oct. 8th)
Counting 14 league-wide deals, including the NBA (an investor), NHL, and MiLB
MLS and its 30 clubs to leverage StellarAlgo’s Sports CDP for deepened fan insights and personalized engagement across league [SBJ]
Ergatta, a game–based connected rowing fitness company, partnered with governing body World Rowing for multiyear global esports expansion (Oct. 6th)
Partnership includes installations and tournaments at events like World Rowing Championships, Virtual Sports Forum, and Versa Challenge Finals [Athletech]
UEFA Women’s Champions League (UWCL) signs global media deals with ESPN, Disney+, BeIN, and FanCode spanning Asia, Africa, Australia, and LATAM (Oct. 8th)
ESPN Deportes secures US Spanish-language rights to all 75 UWCL matches through 2029/30, complementing CBS’s English-language coverage
Disney+ and BeIN Sports to air the tournament across LATAM, Africa, Oceania, and Asia, marking a shift from DAZN’s global streaming exclusivity [SportsPro]
Lawsuits
Strava sues GPS-enabled fitness wearable company Garmin for patent infringement and breach of partnership (Oct. 3rd)
Suit filed in Colorado federal court, accusing Garmin of violating a 2015 cooperation agreement, infringing on three patents tied to its ‘Segments’ and heatmap tech
Strava alleges Garmin’s Connect app, Edge computers, and Forerunner/Fenix/Epix watches misuse its routing and popularity-based tech [Athletech]
Job Board & Opportunities: Week of October 3rd
Here are some cool roles we found and personally curated this week - enjoy!