Closing Bell

The Yankees are in “advanced talks” to raise nearly $3B of financing from Apollo Global Management Inc., according to sources cited by BLOOMBERG NEWS. Sources said that the two are “discussing the terms of a package comprising mostly debt and also some equity.” They added that some of the funds raised are “expected to be used to refinance existing debt, with the remainder earmarked for growth opportunities.” The sources noted that deliberations are “ongoing and no final decisions on the size or structure of the financing have been made.” The deal, if it goes ahead, would mark Apollo’s “biggest investment” in U.S. sports to date (BLOOMBERG NEWS, 7/15).

The Texas Rangers have abandoned the digital platform Victory+ effective immediately and, starting Friday, will instead stream their games on the freshly designed DTC service BZZR. The in-season move reflects the financial challenges inside Victory+, which has had three recent negotiations with NBA teams fall apart and were also dropped Wednesday by the NHL’s Ducks. Victory+ declined comment.

As part of the launch of the Rangers Sports Network in early 2025, the Rangers had chosen Victory+ as their initial DTC partner and offered fans a yearly paid subscription option. Since February, however, Victory+ has had difficulty securing additional financing. And according to multiple sources, Victory+ has had equal trouble funding its minimum guarantee payments to teams in multiple leagues.

Up until now, Victory+ has streamed games free for the NHL’s Stars and Ducks and WNBA’s Lynx and Dream. With the Ducks out of the picture, it is unclear whether the Stars -- who reportedly have a financial stake in Victory+ -- will remain with the platform. In the case of the Lynx and Dream, those teams do not receive a minimum guarantee and are merely in an advertising revenue share with Victory+.

The Rangers’ and Ducks’ decisions to leave almost certainly end Victory+’s recent pursuit of NBA teams. Sources said the Magic, Hornets and T’Wolves were, at one point, all prepared to air their 2026-27 games on Victory+. But it was contingent on Victory+ obtaining new financing, which never materialized. The issue, according to those sources, was that those three teams wanted deals with one-year exit clauses -- considering the NBA’s centralized hub was coming in 2027-28 -- and the potential financiers believed there was no upside to a short-term investment.

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The Ducks have informed streaming platform Victory+ that they intend to terminate their local streaming agreement, according to a source with knowledge of the situation. The team, which had two more seasons remaining on its deal with Victory+, is in the process of finding another direct-to-consumer streaming partner for the 2026-27 season. The move comes in the wake of the Texas Rangers’ announcement Wednesday morning that they would be leaving Victory+ in the middle of the current MLB season, switching to new direct-to-consumer service BZZR beginning this Friday. Multiple sources told SBJ that Victory+ has missed rights payments to several of its partners in recent months.

The Ducks already have a deal in place with the local Fox station for over-the-air broadcasts of up to 65 of their matches this coming season. The team could explore expanding that deal to include all of its local telecasts this season but would still aim to have a streaming option in place for its games as well.

Both the Ducks and Victory+, which is owned by A Parent Media Co., declined to comment on the status of their agreement. The platform’s other rights partners include the Stars, who also have equity in the business, as well as the NWSL, the Dream, the Lynx and League One Volleyball.

While it is not known which streaming solutions the Ducks are considering, they are likely in discussion with the NHL, which is standing up a centralized local broadcast production operation for the upcoming season. The league has yet to announce which clubs will be opting in for 2026-27.

Buss Sports Capital, a business venture launched by Joey and Jesse Buss following the Lakers sale, is “actively pursuing NBA Europe franchises in multiple markets,” according to sources cited by THE ATHLETIC. The group has “placed multiple bids for ownership” in London; Manchester, England; and Lyon, France. The sources said that a venture by Lakers F Luka Dončić and former Mavericks GM Donnie Nelson Jr. in Italy “could also be a possibility.” Buss Sports Capital is “also interested in an ownership stake” in the Padres as part of the group led by José Feliciano and Kwanza Jones (THE ATHLETIC, 7/15).

R&A CEO Mark Darbon gave his “state-of-the-union address” Wednesday ahead of this weekend’s Open Championship at Royal Birkdale, and he addressed the idea of possibly moving up tee times for Sunday’s final round if England ends up playing in the World Cup final. The R&A “expects the final putt on Sunday to drop at 6:40 p.m. local time, which should leave time for a three-hole playoff to be completed in time for the World Cup final.” But Darbon “admitted that if England does get through to the final, they’ll have more discussions.” Darbon: “I’m an England football fan, so it would be a great problem to have. But I guess also, because I’m an England football fan, we should also wait to see how the semifinal goes before we get too far ahead. Of course in the background, we’ve been doing a lot of thinking about this. ... At this stage, no plans to alter anything, but we’ll maintain that under review and finalize our position after the semifinal” (GOLFWEEK, 7/15).

Darbon also said the R&A is “getting pretty close” to staging an Open Championship outside of the U.K. for the first time, at Portmarnock Golf Club in Dublin. The R&A first revealed the possibility of Portmarnock hosting the Open in 2023, with the Irish government “announcing its support of up to” $45M. Darbon: “It’s a complicated venue because of the scale of the Open Championship. ... We’ve undertaken a big feasibility study. That work is pretty much done. We’ve confirmed that we believe we can take an Open Championship there. ... That’s the dialogue we’re in right now with the Irish Government and we’re optimistic that those discussions are heading in the right direction.” On when a decision might be made, Darbon said the R&A is “hoping to have a pretty clear view by the end of the year” (BBC.com, 7/15).

The Open is coming off of its best final-round viewership on NBC since 2022, drawing 4.1 million viewers for Scottie Scheffler’s win at Royal Portrush last year. That was up 21% from Xander Schauffele’s win at Royal Troon in 2024 and up 16% from Brian Harman’s 2023 win at Royal Liverpool (SBJ).

NWSL club Gotham FC will take on the Washington Spirit at Citi Field on Wednesday in the “first-ever regular-season NWSL match” in N.Y. With “more than 40,000 tickets sold as of Monday, they are set to shatter the franchise’s single-game attendance record (15,569 in the 2024 playoffs) and the mark for the highest-attended women’s sporting event in N.Y. (28,144 for Coco Gauff’s U.S. Open women’s singles final in 2023).” A sellout of the ballpark’s capacity of roughly 42,000 is “in range.” Gotham FC, “building off the example of previous NWSL games in baseball stadiums” in Chicago and S.F., “quickly landed on Citi Field -- which is across the road from the team’s future home field at Etihad Park -- as the ideal alternative venue.” Gotham VP/Brand & Fan Experience Laura Petro “ticked off paid media campaigns, social media outreach, working with influencers and a ticket deal partnership” with N.Y. Mayor Zohran Mamdani “among the levers they’ve pulled to garner a record-setting attendance” (N.Y. POST, 7/14).

At the 2026 ACC Kickoff, new Syracuse AD Bryan Blair joins SBJ’s Austin Karp to talk about taking the reins in Syracuse and the roadmap he’s charting for the Orange.

The NHL “announced home openers for all 32 clubs” Wednesday, with the full schedule “set to be released on Thursday.” The Hurricanes and Panthers, the Canadiens and Maple Leafs, the N.Y. Rangers and Bruins, the Blackhawks and Golden Knights, and the Canucks and Oilers will all “face off as part of a five-game curtain raiser” on Sept. 29. The NHL is set to start its regular season before October “for the first time since 1993-94” as the league moves to an 84-game schedule. The 1,344 games “will be the most in NHL history” (AP, 7/15).

The Hurricanes will “raise another Stanley Cup banner” on Sept. 29 in a 5pm ET home opener that “features the last three Stanley Cup winners.” The Panthers won back-to-back titles in 2024 and 2025 before missing the playoffs last season (Raleigh NEWS & OBSERVER, 7/15).

The NHL recognized the top business, marketing and fan engagement initiatives from across its 32 clubs Wednesday at the eighth annual Stanley Awards, held during the league’s Club Business Meetings in Denver. More than 1,300 club and league executives are attending the four-day event, presented by Ticketmaster and hosted by the Avalanche, marking the largest Club Business Meetings in league history. Winners were selected from 161 submissions by an external panel of sports and entertainment industry execs, with awards recognizing excellence in areas including marketing, sponsorship, ticketing, analytics and game presentation.

The Ducks were the biggest winners, capturing honors for both Marketing Campaign with their “Mask On” initiative and Game Presentation Moment of the Year, giving the club its second and third Stanley Awards victories, respectively. The Maple Leafs earned their league-leading sixth Stanley Award in the Strategy, Analytics and Innovation category for their “Fan Access” program. The Lightning claimed Social Media Club of the Year for the third time. Other winners included the Senators for Social Impact and Growth Initiatives, the Jets for Sponsorship Activation, the Sharks for Ticketing Initiative and the Sabres for Venue Business Initiative.

The annual Stanley Awards, launched in 2018, recognize club business achievements in fan engagement, innovation and creativity as part of the NHL’s annual Club Business Meetings, where execs from across the league gather to share best practices and business strategies (SBJ).

Fanatics Chair & CEO Michael Rubin said Fanatics and its partners will “spend $80M or $90M” to put on this week’s Fanatics Fest. Rubin, appearing on “The Breakfast Club” podcast, noted with tickets at $70-$80, if 200,000 people come, the event would generate around $15M in ticket revenue. Rubin said, “We do it because it’s just a great thing to work your ass off.” He added, “With fans that come through, they love Fanatics when they leave.” Rubin cited growing demand as the reason for expanding the event from Friday-Sunday to Thursday-Sunday, saying the previous format could no longer accommodate the volume of athletes, entertainers and programming (“The Breakfast Club,” 7/10). Adult tickets are $70 on Thursday, Friday and Sunday and $80 on Saturday; children’s tickets are $30 each day. Photos and autographs cost extra.

By the numbers

• 1 million+ square feet of event space at the Javits Center in N.Y., a 25% increase from last year.
• 100+ leagues, teams, brands and sponsors will host activations and immersive fan experiences.
• 400+ athletes, celebrities and creators are scheduled to appear.
• 250+ hobby dealers are expected, making it N.Y.’s largest trading card show.
• 100+ event-exclusive products, including apparel, jerseys and trading cards, will debut.
• Dozen stages will feature live broadcasts, podcasts and original programming.
• Fanatics Games return with more than $2M in prizes, including a $1M grand prize, featuring 50 athletes competing alongside 50 fans.
• More than 50 live shows and podcasts are planned (Fanatics).