Weekly Sports Business Update

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]

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