LEAGUES & TEAMS
Photo: Seattle Kraken’s owner Samantha Holloway is looking to place a bid for a Seattle NBA expansion bid.
Kraken’s Owner Samantha Holloway hires JPMorgan and Moelis to advise Seattle NBA expansion bid as league process advances (May 6th)
Holloway’s One Roof Sports and Entertainment group is currently the only publicly known ownership group pursuing an NBA expansion franchise in Seattle
NBA expansion fees are expected to exceed $8B total, with Seattle and Las Vegas viewed as the league’s leading candidates for new franchises beginning as early as the 2028-29 season [Seattle Times]
NBA plans to invest $3B into NBA Europe to support launch economics and franchise stability (May 7th)
NBA told prospective investors it will help absorb early operating losses, fund launch marketing, and provide participation payments to teams as the league ramps up toward a planned 2027 debut [SBJ]
Formula One explores rescheduling cancelled Bahrain and Saudi Arabian Grands Prix amid Middle East conflict (May 11th)
F1 is evaluating ways to restore at least one cancelled Middle East race to the 2026 calendar
League executives cited financial and scheduling pressures tied to maintaining a full race calendar despite growing strain on teams and personnel [The Athletic]
PGA Tour loosens social media restrictions to help players grow audiences and creator businesses (May 13th)
Players will now be allowed to post more tournament footage, extended YouTube highlights, and archive content across social platforms
Reflects PGA Tour’s broader push to expand digital reach and better compete with golf creators and influencer-driven media ecosystems led by figures like Bryson DeChambeau [SportsPro]
FIFA awards exclusive World Cup trading card and sticker rights to Fanatics beginning in 2031, ending Panini’s 60-year run (May 7th)
Fanatics-owned Topps will produce FIFA trading cards, stickers, and collectibles beginning in 2031, while also introducing innovations like match-worn “Debut Patch” memorabilia cards [The Athletic]
WNBA media rights portfolio surpasses $3B in value following new deals with CBS, Scripps, and USA Sports (May 11th)
11-year media agreements now total $3.1B across Disney/ESPN, NBCUniversal, Amazon, CBS, Scripps, USA Sports, and NBA TV
New package includes 216 national games for the 2026 season and “reset” provisions in 2028 that could allow a renegotiation in pricing and terms as WNBA viewership accelerates [FOS]
Majority of Big 12 Conference schools decline $30M private capital credit line tied to RedBird partnership (May 7th)
More than half of Big 12 schools are opting against the optional $30M RedBird-backed credit facility tied to future conference distributions
Schools largely support the broader Big 12 x RedBird commercial partnership, but appear hesitant to immediately take on private capital financing [FOS]
Sergio Ramos-led consortium reaches agreement in principle to acquire Sevilla FC in €444M takeover deal (May 12th)
Backed by Five Eleven fund entered exclusivity earlier this year and is now moving toward finalizing purchase
Sevilla’s financial situation played a key role; reported debt concerns and relegation risk impacting valuation [The Athletic]
Aston Villa FC ownership group V Sports moves toward acquiring controlling stake in FC Annecy as multi-club network expands (May 8th)
V Sports has been integrating Annecy into its football ecosystem through player development, scouting collaboration, and loan pathways for young Aston Villa talent
Strengthens Sports’ growing multi-club model alongside stakes and partnerships spanning Japan, Spain, MLS, and Africa [The Athletic]
World Surf League explores sale and new investment opportunities as action sports interest accelerates globally (May 7th)
WSL hired Raine Group to evaluate strategic alternatives including a full sale, minority investment, or new partnerships after receiving inbound interest from investors [Sportico]
FIFA faces mounting criticism as thousands of 2026 World Cup tickets remain unsold one month before kickoff (May 11th)
Continues drip-feeding ticket inventory while maintaining dynamic pricing across many matches; some final tickets previously listed near $33,000 [FOS]
Venezia FC raises €100M and adds former Oak View Group executives Tim Leiweke and Francesca Bodie as major investors through Drake-connected consortium (May 7th)
Leiweke and Bodie become Venezia’s largest outside shareholders, with both taking leadership roles as the club pushes to strengthen its Serie A ambitions and long-term financial stability [Venezia FC]
Upshot League launches inaugural season after raising $40M and securing 90+ partners (May 7th)
New U.S. women’s basketball league co-founded by former WNBA President Donna Orender and Zawyer Sports CEO Andy Kaufmann
Planning aggressive expansion toward 30 teams nationally while building around ticket sales, sponsorships, and free digital distribution on YouTube [SBJ]
NCAA expands Division I men’s and women’s basketball tournaments to 76 teams in move expected to generate $50M annually (May 7th)
NCAA secured incremental revenue through an expanded CBS/TNT sponsorship agreement that also opens previously restricted advertising categories including alcohol brands [FOS]
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STARTUPS & VENTURE CAPITAL
Photo: Enhanced Games, a new PED-friendly league, to debut at Resorts World Las Vegas on May 24th.
Wisdom Ventures closes an oversubscribed $77.7M Fund II focused on AI-powered health, wellness & connection startups (May. 12th)
Includes $1M–$5M checks into ~40 startups across AI implementation in health, wellness, and connection
LPs include Reid Hoffman, Evan Sharp & Stewart Butterfield; Fund I backed OpenAI, Anthropic & Function Health [Athletech]
Outside Capital launches to invest in startups across sports, performance, and consumer wellness (May 12th)
Founded Tom Black and Parth Dalal (formerly at Imaginary Ventures), who plan to back early-stage brands operating across sports, human performance, and wellness [LinkedIn]
Enhanced Games expands beyond “Steroid Olympics” positioning into supplements, telehealth, and longevity business strategy ahead of debut event (May 11th)
Enhanced Games debuts May 24 in Las Vegas, allowing athletes to compete using certain FDA-approved performance-enhancing substances under medical supervision
Expanding into supplements, recovery products, and telehealth as it builds a broader human performance and longevity platform [FOS]
PlayReplay, an AI-powered electronic line-calling startup, raises $12M in funding at $50M+ valuation (May. 6th)
Plans to expand geographically and delve into other racquet sports, including Pickleball
Investment led by Alfvén & Didrikson; other investors include Centre Court Capital, ExM Investment Partners, and Crimson Sports Capital, among others [Sportico]
Betterguards acquires smart fabric IP from Nextiles to deepen injury prevention capabilities (May 6th)
Betterguards develops advanced ankle braces used across more than two-thirds of NBA teams, while Nextiles built smart fabric technology capable of tracking motion and force data [SBJ]
ETS Performance, a youth athlete training operator, acquires Kula Sports Performance (May. 5th)
KSP founder Brian Kula remains as managing partner; brand continues operating independently within ETS
ETS client roster includes Adam Thielen & Jake Guentzel; KSP has trained Christian McCaffrey, Josh Morrissey & Anna Hall [Athletech]
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M&A AND INVESTMENTS
Photo: Sports PE-fund Bruin Capital acquires Matchroom Boxing at a $1.35B valuation.
Bruin Capital buys stake in sports promoter Matchroom Boxing, valuation reaches $1.35B (May 11th)
Bought a 15% stake from the Hearn family at a valuation of $1.35B
Produces more than 600 events and 2,400 hours of programming annually including boxing events, darts competitions, and the World Snooker Tour [Sportico]
University of Michigan could see massive NIL implications from early OpenAI investment now reportedly valued near $2B (May 8th)
Michigan reportedly invested $20M into OpenAI through its endowment years ago, with recent court documents implying the stake could now be worth billions on paper
Reports suggest the windfall could eventually supercharge Michigan athletics and NIL spending [EssentiallySports]
Sixth Street, the sports-focused investment firm with stakes in the Patriots, Celtics, and Real Madrid, eyes expansion into Australian sports market (May 11th)
Sixth Street has reportedly begun meeting with Australian institutions and family offices to gauge interest in a new sports and entertainment-focused investment fund [FinancialReview]
Byron Allen acquires majority stake in BuzzFeed for $120M and plans AI-powered streaming expansion (May 12th)
Allen Family Digital will acquire a 52% stake in BuzzFeed through a $120M investment, with founder Jonah Peretti transitioning into a new role as President of “BuzzFeed AI”
Allen plans to expand BuzzFeed and HuffPost into free-streaming video, audio, and user-generated content, positioning the company as creator-led media [Variety]
Aescape, a Tom Brady-backed AI robotic massage startup, enters insolvency after a January foreclosure sale (May 7th)
Silicon Valley Bank issues a default notice in Dec. 2025 on an $11.8M secured loan; Black Stag Lending acquired the loan and foreclosed; Aescape Recovery Inc. submitted the sole $16.625M credit bid
Total liabilities: ~$152.6M in unsecured debt + $4.55M still owed to Black Stag; unsecured creditors "unlikely" to receive distributions [Athletech]
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STRATEGIC VENTURES
Photo: Kalshi becomes the Official Prediction Market Partner of Madison Square Garden.
Kalshi signs multi-year partnership with Madison Square Garden, renaming MSG’s sixth-floor concourse the “Kalshi Concourse” (May 8th)
Deal makes Kalshi an Official Prediction Market Partner of Madison Square Garden and includes arena signage, fan activations, marquee placements, and integrations across MSG Networks [Kalshi]
FOX Sports and Cosm partner to bring 40 FIFA World Cup 2026 matches to immersive dome venues (May 8th)
Cosm will broadcast select World Cup matches across its Los Angeles, Dallas, and Atlanta venues using its 87-foot 12K LED dome technology to recreate stadium-like viewing experiences [FOX Sports]
WHOOP becomes official health and fitness wearable partner of Boston Red Sox in multi-year deal (May 11th)
Runs through 2028 MLB season and gives WHOOP exclusive wearable health technology rights, along with prominent in-stadium branding across Fenway Park [WHOOP]
DraftKings and FanDuel expand beyond sportsbooks into prediction market infrastructure through new market-making operations (May 8th)
Disclosed plans to act as market makers across prediction market platforms, helping monetize trading activity beyond their sportsbook operations
Executives positioned prediction markets as a major long-term growth opportunity; citing strong early profitability and highlighting customer acquisition potential in unregulated betting states [FOS]
Disney+ becomes exclusive streaming home of the Savannah Bananas’ Banana Bowl championship event as Disney deepens Banana Ball partnership (May 12th)
Disney+ will exclusively stream the Banana Bowl this October, while ESPN and Disney platforms continue expanding live Banana Ball coverage through a 25-game media package [Disney+]
Polymarket removes U.S. waitlist and officially launches iOS trading platform following QCEX acquisition (May 12th)
Relaunch follows its acquisition of CFTC-licensed exchange QCEX, allowing the platform to legally re-enter the American prediction markets ecosystem after its 2022 regulatory settlement [Covers]