Finance

The X Games League, the new action sports league that will kick off its first summer season this weekend in Sacramento, has sold its summer team representing São Paulo to Ali El Ali, CEO of Emirati offshore energy logistics firm ZMI Holdings, through his Summit Ventures. Financial details were not d...

New Zealand Rugby CFO Chris Kinraid said that a decision on buying back Silver Lake’s investment is “to be decided in time,” according to Samuel Sherry of the NEW ZEALAND HERALD. NZR’s provincial unions signed off on the initial NZ$200M (US$134M) Silver Lake deal in 2022. Kinraid was “asked about wh...

Kalshi is “in talks to raise funds at a valuation of about” $40B as the “rapidly growing predictions market steps up efforts to offer new products and challenge the biggest players in the derivatives and gambling industries,” according to Levingston, Pollard & Steer of the FINANCIAL TIMES. Sourc...

Sportway, an AI-powered streaming provider founded in Sweden, has raised a $22.7M investment round led by Gamma Waves Partners, an investment fund co-founded by two key figures in Juventus former chairman Andrea Agnelli and retired star player Giorgio Chiellini.

Sony Pictures Entertainment is making a $100M investment in Cosm and taking a minority stake in the immersive venue operator, which shows live sports in LED dome theaters. The investment leads a larger Series C financing round into the company, according to a source, but a Cosm spokesperson declined...

After being financed by Mark and Kimbra Walter through its first three seasons, the PWHL has raised outside capital for the first time from a pair of prominent sports industry investors: Ilitch Companies and Kilmer Sports Ventures. The investments in the single-entity league follow its second round ...

Tom Dundon discovered pickleball around the time many of the sport’s nearly 25 million U.S. players came to love it: at the front end of its post-COVID boom.

DAZN is restructuring its business to “make it easier to raise new money and explore a possible public listing,” with “a new Cayman Islands holding company” to be established for the DAZN Group, according to sources cited by Agini & Thomas of the FINANCIAL TIMES. Sources also mentioned that cont...

MSP Sports Capital, the private equity firm founded by veteran sports investor-operators Jahm Najafi and Jeff Moorad, has acquired a majority stake in SailGP’s New Zealand team, the Black Foils. Financial terms of the sale were not disclosed, but, in an interview with SBJ, SailGP Managing Dir Andy T...

Seven Seven Six, the venture capital firm co-founded by Alexis Ohanian, has acquired collegiate sports trading card company Onit. Longtime sports executive Evan Parker -- an SBJ Forty Under 40 honoree in 2021 and the current CEO of Mantel, a collectible-focused social media platform launched by Ohan...