LEAGUES & TEAMS
Photo: Nationwide Mutual buys minority stake in Columbus Crew at $900M valuation.
Nationwide Mutual buys 37% minority stake in Columbus Crew at $900M valuation (May 28th)
Nationwide is acquiring 30% from the Haslams and 7% from the Edwards family, with the Haslams retaining control at 40% pending MLS approval
Deal values the Crew above Sportico’s prior $800M estimate, implying a 9.7x revenue multiple on ~$93M of 2025 revenue [Sportico]
Miami Marlins sell ~15% minority stake at $1.4B-$1.55B valuation to pay down debt (May 29th)
Sold roughly 15% to two undisclosed South Florida families; valuation ranged $1.4B;$1.55B, up from the $1.2B Sherman-led group paid in 2017
MLB's 7.2x revenue multiple trails NBA (13.5x) and NFL (10.3x); Marlins’ discount amplified by bottom-tier attendance and the loss of its RSN deal [Sportico]
NBA expansion timeline remains uncertain as commissioner Adam Silver declines to guarantee decision by end of 2026 (June 3rd)
Silver declined to commit to a firm 2026 expansion decision, keeping Las Vegas and Seattle bids in continued limbo
Expansion fees are projected at $5B-$7B per team, extending uncertainty for ownership groups and arena plans in both markets [SBJ]
NBA Europe franchise bidding enters final stages and will likely conclude by the end of June, according to Deputy Commissioner Mark Tatum (June 2nd)
Bidding for NBA Europe expansion franchises is expected to conclude by the end of June, marking the league’s biggest international growth push
On track to launch the 16-team league in October of 2027, regardless if there’s an agreement with the EuroLeague [SBJ]
Luka Dončić and former Mavericks GM Donnie Nelson acquire Italian Serie A club Vanoli Cremona ahead of NBA Europe bid (June 2nd)
Nelson will lead the ownership group as managing partner, with plans to relocate Vanoli Cremona to Rome for the 2026-27 season for a Rome-NBA Europe bid; Trieste-based group considered the most prominent Italian rival
Dončić becomes the first active NBA player to publicly pursue an NBA Europe ownership stake as the league prepares its next bidding round [SBJ]
MLB salary cap fight escalates as Rob Manfred warns proposal could trigger 1994-style work stoppage (June 3rd)
Owners made their first hard cap proposal since 1994, citing rising luxury tax payments and a $169.4M Dodgers bill as evidence the current system is broken
Total luxury tax collected jumped from $78.5M in 2022 to $402.6M in 2025, with a lockout expected December 1 if no CBA deal is reached [AP News]
Denver Broncos clear path to purchase Burnham Yard, a 50-acre rail site eyed for new stadium development (June 2nd)
Broncos reached an agreement with Colorado Department of Transportation on terms governing the former rail yard near downtown Denver
Land deal marks first major step in Walton-Penner ownership group’s push for a new stadium after buying the team for $4.65B [SBJ]
Dallas Mavericks to pay $51M for portion of Valley View mall site as new arena plans advance (June 3rd)
Mavericks agreed to buy part of the North Dallas site, marking a concrete step toward a new arena project outside American Airlines Center
Site control is typically the first binding commitment in a multi-year arena development timeline as NBA teams increasingly pursue mixed-use venue districts [SBJ]
Baltimore Ravens complete final phase of $500M M&T Bank Stadium renovation project (May 28th)
Adds new fan spaces including The Talon, a 3,800-capacity event venue, and The Backstage, an enclosed premium area for 600-800 fans
Project also expands the North Plaza, doubles ticket scanners, adds upper-concourse space, and increases upper-level restrooms by 30% [SBJ]
Bipartisan “Protect College Sports Act” targets NCAA reform while sidestepping athlete employment classification (June 2nd)
Bill reinstates one-time transfer limits, creates a five-year eligibility clock, bars former pros from college play, allows 75%-consensus FBS media rights pooling, and caps agent commissions on NIL deals at 5% [SBJ]
House Judiciary Chairman Jim Jordan asks NFL Commissioner Roger Goodell to testify over broadcast fragmentation practices (June 2nd)
Goodell was asked to testify at a June 10 House Judiciary Committee hearing as scrutiny builds around the NFL’s media distribution strategy
Probe centers on the gap between the NFL’s claim that 87% of games air free over-the-air and the smaller share available free in any given local market [Awful Announcing]
Illinois legislature punts Chicago Bears’ $5B domed stadium push to later this summer after last-minute bill dies in House (June 1st)
State Senate passed a revised stadium-authority structure in an early-morning vote, but the Illinois House adjourned without taking up the bill; punts talks to summer
Revised bill would have given the Bears property-tax certainty, keeping both Arlington Heights and Hammond, Indiana stadium options alive [FOS]
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STARTUPS & VENTURE CAPITAL
Photo: Twenty Snap alumni launch Ghost Angels to back AI social media startups across music, gaming, sports, and fashion.
Twenty Snap alumni launch Ghost Angels, early-stage angel fund backing AI social media startups (May 30th)
Fund will target pre-seed and seed startups across AI-powered social connection tools and generative media across music, gaming, sports, and fashion
Formalized by former Snap partnerships exec Max Rivera, the fund plans to back 15 more companies within a year [TechCrunch]
SpeedLabs, an AI-powered live sports markets startup, raises $6.5M seed round to launch “Momentum Markets” (June 2nd)
New capital will help SpeedLabs scale ahead of its summer 2026 launch, with its AI engine creating real-time binary markets around live momentum swings during games
Investment led by Parlay Capital Holdings; other investors include Bullpen Capital, TA Ventures, and EdgeEquity [InGame]
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M&A AND INVESTMENTS
Photo: Rockets owner Tilman Fertitta acquires Caesars Entertainment for $5.7B.
Rockets owner Tilman Fertitta agrees to buy Caesars Entertainment for $5.7B, excluding debt, in major casino and hospitality consolidation deal (May 28th)
Merge Fertitta’s Golden Nugget and restaurant empire with Caesars’ 50+ resort portfolio, while excluding assets like non-casino hotels and the Houston Rockets [Bloomberg]
WTGL, the Women’s Indoor Tech Golf League founded by TMRW Sports, adds Aryna Sabalenka, Diana Taurasi, and five WNBA stars as investors via Trybe Ventures ahead of fall 2026 launch (June 2nd)
Trybe Ventures, the league’s primary capital partner, added seven new investors including Sabalenka, Taurasi, Hilary Knight, Breanna Stewart, Nneka Ogwumike, Napheesa Collier, and Gabriela Jaquez [Golfweek]
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STRATEGIC VENTURES
Photo: Steph Curry officially signs with Li-Ning, the Chinese athletic brand founded by Olympic gymnast Li Ning.
Steph Curry signs 10-year partnership with Li-Ning, the Chinese athletic brand founded by Olympic gymnast Li Ning, to expand Curry Brand globally (June 2nd)
Deal expands Curry Brand into golf and athleisure, with Li-Ning planning retail stores in the U.S. and abroad
Partnership positions Curry to monetize China’s basketball market as Nike’s Greater China revenue has fallen 20% over four fiscal years [Sportico]
Ryan Reynolds and Hugh Jackman land Disney+ docuseries around their ownership of Australia’s SailGP team Bonds Flying Roos (May 29th)
Untitled series will follow Reynolds and Jackman as co-owners of Australia’s SailGP team, which competes in a league with a $12.8M prize purse
Deal extends Reynolds’ celebrity-owner content playbook from Welcome to Wrexham, with Rob McElhenney joining as executive producer [Variety]
Fanatics Markets and ADI Predictstreet launch co-branded FIFA World Cup 2026 prediction markets hub across 23 U.S. states (May 27th)
co-branded Fanatics Markets hub combines FIFA-licensed prediction markets, tournament news, and official player data in one experience
Available in 23 states and 4 territories; deal extends ADI Predictstreet’s FIFA partnership into the U.S. through Fanatics’ reported 10M+ existing fan relationships [BI]
Airbnb launches £1M player accommodation fund through multi-year partnership with WSL Football (June 4th)
Funding short-term housing for players transferring into the Barclays Women’s Super League and Women’s League 2 across every transfer window for three years
Named official accommodation and experiences partner of WSL Football as attendance and matchday travel continue growing across women’s soccer [Airbnb]
FIFA launches “Digital Football” multi-publisher gaming strategy after moving beyond single-partner exclusivity (May 28th)
Replaces its decades-long exclusive model with an open licensing ecosystem across simulation, mobile, free-to-play, and non-traditional gaming formats
Follows FIFA’s 2022 split from EA, rebranding to EA Sports FC, as governing bodies increasingly diversify digital licensing beyond one dominant partner [Delimiter]
Zee Entertainment lands Indian media rights to 39 FIFA events from 2026 to 2034, including three World Cups (June 1st)
Zee secured Indian broadcast and streaming rights for the 2026 and 2030 Men’s World Cups, the 2027 Women’s World Cup, and additional age-group and futsal tournaments; Resolves FIFA’s prolonged India rights negotiations [SBJ]
Alibaba becomes exclusive AI, cloud, and e-commerce partner of UEFA men’s club competitions and UEFA EURO 2028 (May 29th)
Alibaba will support Champions League, Europa League, and Conference League fan engagement, content management, and merchandise commerce through Alibaba Cloud and Qwen LLM [EQS]