LEAGUES & TEAMS
U.S. League & Team News
NWSL’s Gotham FC raises $100M at a record $350M valuation as it invests behind New York growth (Nov. 6th)
Adds seven minority investors and values Gotham 84% above Forbes’ April estimate, despite just $11M of 2025 revenue, driven by market growth & next media-rights cycle
Allocating new funds toward a new New Jersey training facility and Gotham’s 2028 move into Etihad Park [Forbes]
CF Montréal launches a sale process after 30+ years under the Saputo family, becoming the third MLS club currently on the market (Nov. 9th)
BMO Capital Markets is leading the process, with Montréal valued at $430M after a 4% decline in 2026
The sale joins San Jose and Vancouver, both of which have faced weak buyer interest amid facility needs and market challenges [Sportico]
Fortune 500 sponsorship in women’s sports rises to 16% in 2026, with company participation growing 3.8x faster than in men’s sports (Nov. 10th)
The number of Fortune 500 companies sponsoring women’s sports grew 18% YoY, while total sponsorship deals jumped 38% as existing brands expanded their commitments
Women’s sports still trail men’s significantly, but 86% of sponsors are renewing and 12 Fortune 500 companies now sponsor exclusively on the women’s side [SBJ]
MLB raises its proposed salary cap to $258.2M and floor to $180.2M, with implementation pushed to 2028 (Nov. 3rd)
Based on 2026 payrolls, 12 clubs would need to add a combined $636M while eight teams would need to cut $528M
Proposal also includes 50/50 revenue sharing, centralized media revenue, a $1M minimum salary and earlier free agency beginning in 2027 [MLB]
International 🌍
Jeff Bezos-backed 1892 Holdings could eventually take full control of Liverpool after buying a 38% stake in the football club (Nov. 5th)
Initial investment is worth more than £2B ($2.6-2.7B), with the group able to increase its ownership to roughly 69% or potentially 100%
Structure gives Fenway Sports Group a path to gradually hand over control while 1892 Holdings familiarizes itself with operating the club [The Athletic]
Otro Capital explores sale of its 24% Alpine F1 stake after buying in at a $900M valuation in 2023 (Nov. 11th)
BDT & MSD Partners is advising the process, with at least seven investors reportedly interested
Its stake is backed by RedBird, Ryan Reynolds, Patrick Mahomes, Travis Kelce and Rory McIlroy, as soaring F1 valuations drive new investor demand [Sportico]
English football regulator will force EFL and National League clubs to hold cash reserves based on financial risk, with full compliance required by 2030 (Nov. 10th)
Low-risk clubs must hold roughly one month of wages, while higher-risk teams face additional reserve requirements tied to operating losses
94% of clubs across England’s top five divisions lost money last season and 29% could not survive 30 days without owner funding [The Athletic]
Tom Brady exits Birmingham City after three years as a 3.3% minority investor, with the club sitting atop England’s Championship (Nov. 9th)
Brady held no voting rights or day-to-day role, but advised the club on health, nutrition and recovery
His departure comes as Birmingham pushes for Premier League promotion, potentially reducing some of the commercial value tied to his involvement [The Athletic]
Real Estate Deals
San Diego approves 105-year redevelopment deal for a new 16,000-seat home for the Gulls, Sockers and Seals (Nov. 10th)
Includes 4,254 residential units plus commercial space, parks and public plazas, with construction targeted to begin in 2029
Stan Kroenke’s Kroenke Group is the lead investor, alongside Zephyr, Chelsea Investment Corp. and Legends Global [SBJ]
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INVESTMENTS
M&A
Bluestone Equity Partners acquires a majority stake in experiential design firm 11th St. Workshop, marking the first buyout from its $350M fund (Nov. 12th)
11th Street builds custom environments for major events including the Super Bowl, FIFA World Cup, US Open, Coachella and the Grammys
Planning to accelerate national expansion and sports growth, with the company’s core U.S. market estimated at $2.5-3B and growing 10%+ annually [Bluestone]
Liberty Media founder John Malone cuts his voting power in F1 parent Liberty Media from ~48% to 3% as the company consolidates control (Nov. 11th)
Liberty repurchased Malone’s super-voting shares after he received unsolicited third-party offers, preventing that voting block from changing hands
Gives Liberty greater control over major decisions, including any future F1 sale, after acquiring the series for $4.6B in 2017 [SBJ]
Fox closes its $22B acquisition of Roku, combining live sports, news and local programming with a streaming platform reaching 100M+ households (Nov. 6th)
Folds Roku alongside Tubi and Fox One inside a new Fox Digital Platforms division
Roku founder Anthony Wood joins Fox’s board as the company accelerates its push into connected TV and streaming distribution [SBJ]
Enhanced Group, parent of the peptides-forward Enhanced Games, acquires 77% of European live entertainment platform DEAG at a ~$139M valuation (Nov. 5th)
DEAG produces ~6,000 events annually and is expected to generate ~$600M of 2027 revenue across live entertainment and ticketing
The all-stock deal values DEAG at 5.3x 2027E adjusted EBITDA, while Enhanced is also raising a $15M PIPE to fund further growth and acquisitions [Enhanced]
Oura acquires AI-native primary care startup Counsel Health for $625M as it expands beyond wearables into healthcare delivery (Nov. 10th)
Counsel combines AI-powered medical guidance with access to licensed physicians and was already integrated into the Oura app
Follows Oura’s postponed IPO and comes as FY2026 revenue reached ~$1.75B, up 92% YoY [TechCrunch]
Real American Freestyle acquires World of Wrestling, expanding from pro wrestling into major youth tournaments including Tulsa Nationals (Nov. 5th)
Adds Tulsa Nationals, Reno Worlds and the Kickoff Classic to RAF’s platform
RAF plans to invest in the events while preserving the existing World of Wrestling brand and youth development pipeline [SB Nation]
Earnings Updates
DraftKings reports Q3 earnings, lowers 2026 revenue guidance to $6.35-6.55B and pushes deeper into prediction markets (Nov. 6th)
New outlook is down from $6.5-6.9B, while shares fell more than 29% after earnings
Added 1M+ prediction-market customers in Q3; Expects hundreds of millions in gross revenue from the business, though promotions keep net revenue near breakeven [FOS]
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STARTUPS & TECHNOLOGY
Startup Fundraising
LeBron James and Kevin Durant launch Futures Basketball League, a new national U18 league paying top high school prospects through NIL beginning in 2027 (Nov. 10th)
FBL will feature 12 regional teams and top players from the 2028–2031 classes, with NIL compensation available in cash, league equity or both
Backed by SC Holdings, with Paolo Banchero, Derrick Rose and Gary Vaynerchuk among founding owners; MADE Hoops will serve as operations partner [Forbes]
Sports AI startup Snapp raises $4.6M to expand its real-time intelligence platform for teams, fantasy users and prediction markets (Nov. 9th)
Investors include a16z Speedrun, Dorm Room Fund, Gold House Ventures, House Fund, Valia Ventures and others
Snapp powers 30+ live data pipelines for pro team scouting and consumer tools across ESPN, Yahoo Sports, Sleeper, Kalshi and Polymarket [FinSMEs]
Fan data platform Toutix raises $3M from Evolution Equity Partners to help teams and venues better understand fan behavior inside live events (Nov. 10th)
Combines ticketing data with opt-in geofencing to track F&B, retail and crowd movement inside venues
Uses the data to build fan profiles, improve sponsorship valuation and power loyalty through its fan passport product [SBJ]
Poppi founders Allison and Stephen Ellsworth launch hydration startup Jetty with $2.5M of self-funded capital, taking direct aim at Gatorade (Nov. 8th)
Jetty is launching across Whole Foods, Target and Amazon with bottled drinks and electrolyte powders aimed at everyday hydration
The founders expect to raise outside capital in 2027 as the $2.6B hydration and electrolyte category continues to grow [CNBC]
Product Launches
Sports enterprise AI platform Jump and real estate loyalty giant Bilt partner to help pro teams turn fan engagement into revenue (Nov. 10th)
Jump’s Fan Growth Engine will be bundled into Bilt Neighborhood OS across ticketing, premium sales, marketing and operations
The offering helps teams monetize year-round fan engagement beyond the stadium through tickets, memberships and sponsorships [Jump]
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STRATEGIC VENTURES
Media Deals & Updates
CFP expands with ESPN: ESPN signs a 5-year, $1.7B deal to expand the playoff to 24 teams in 2027, paying ~$345M more annually while gaining the ability to sublicense six new games. [ESPN]
UFC could return to linear TV: TKO is exploring UFC and Zuffa Boxing on TNT Sports and HBO, leveraging flexibility in UFC’s 7-year, $7.7B Paramount+ deal following the Paramount-WBD merger. [Awful Announcing]
Ligue 1 puts everything up for grabs: The league is shopping its complete 2027–2032 domestic rights package for the first time, with Disney+ and Paramount+ among potential bidders and nearly 20 partners contacted. [SBJ]
WTA takes control of its media: The tour expects media rights and data revenue to exceed $300M by 2029, helping push total revenue toward ~$400M by 2030 as it brings more key assets in-house. [SBJ]
The CW locks in PBR Teams: Extended its exclusive Sunday broadcast rights through 2029, with 13 live events per season beginning in 2027 and streaming through the ESPN App. [PBR]
Other Partnerships
PGA Tour sponsorships top $1B: Sponsorship revenue jumped 14% YoY, with Rolex, AWS, Raymond James and AbbVie helping drive growth and nearly every Championship Series event already sold. [SBJ]
Topgolf × TMRW Sports: Multi-year deal brings TGL and WTGL competition holes, watch parties and VIP experiences to 100+ Topgolf venues, with activation across 28,000+ in-venue screens. [Topgolf]
Hotels.com × Real Madrid: Multi-year global partnership gives Hotels.com matchday branding, digital content and Bernabéu hospitality access across Real Madrid’s 677M-fan audience. [Expedia]
Bundesliga × NFL: Extended collaboration covers fan engagement, digital marketing, innovation and content as both leagues deepen growth efforts across the U.S. and Germany. [Bundesliga]
Fever × Tixly: Fever partners with ticketing and CRM platform Tixly, adding infrastructure serving 300+ performing arts venues across 17 countries after raising $250M in September. [The Ticketing Business]
Red Bull × EA Sports: Wings Cup combines EA Sports FC 27 competition with a boat-vs.-helicopter final, plus branded Red Bull cans offering in-game rewards. [SBJ]