Search

Actor Ryan Reynolds, along with Rob McElhenney, has acquired the Colombian football team Club Deportivo Seguros La Equidad as part of a US investment group. The group, led by Al Tylis and Sam Porter, will invest in the team's academy and women's team. Reynolds and McElhenney previously acquired Wrexham AFC in 2021 and are known for using their popularity to boost the clubs they invest in. Other investors in Tylis' group include Eva Longoria, Justin Verlander, and Kate Upton. [Extracted from the article]

Snowboarding icon Shaun White's Snow League, a professional circuit he founded, secured $15 million in funding led by Left Lane Capital. The league aims to elevate athletes, increase their earnings, and enhance the sport's popularity. With a media rights deal with NBC Sports and upcoming events in Aspen and beyond, the league seeks to engage fans globally and build momentum leading up to the Winter Olympics. The initiative has garnered support from investors like David Blitzer and Will Ventures, signaling potential growth in the snowboarding and skiing community. [Extracted from the article]

The Buffalo Bills have added three Toronto sports stars, Vince Carter, Tracy McGrady, and Jozy Altidore, to their ownership group in an effort to expand their fanbase into Canada. The individual stakes of the athletes were not disclosed, but they are part of an 11% equity sale to an investor group. Former professional athletes entering team ownership is becoming more common, with McGrady expressing his surreal excitement at achieving this goal. Altidore is eager to learn more about team management and contribute a different perspective to the ownership group. [Extracted from the article]

A group of private equity firms has invested $100 million in a women's volleyball startup, League One Volleyball, to launch a US professional league in January. This new league aims to address the historical struggles of pro volleyball leagues in the US, providing opportunities for athletes who previously had to play abroad. The founders of League One Volleyball emphasize the importance of building a strong foundation through a youth club network to ensure the success of the professional league. [Extracted from the article]

A new women's volleyball startup, League One Volleyball (LOVB), has raised $100 million from private equity firms to launch a professional league in the US in January. LOVB has a unique business model, starting with elite training clubs and now expanding to a pro league with six teams in cities with top college volleyball programs. The surge in interest and investment in women's sports, including volleyball, reflects a growing trend in the US. LOVB was founded in 2020 with the goal of building a strong foundation for the professional league by leveraging the sport's popularity at the youth level. [Extracted from the article]

NBA star Giannis Antetokounmpo has launched a venture capital fund, Build Your Legacy Ventures, with an initial investment in women's basketball. The fund is supporting Unrivaled, a 3-on-3 professional women's basketball league set to start in January. Antetokounmpo's foray into venture capital follows a trend among professional athletes like Andre Iguodala, Kevin Durant, and Serena Williams, reflecting the evolving landscape of sports and player earnings. [Extracted from the article]

The Tsais, owners of the Brooklyn-based sports empire, recently celebrated their first WNBA title with the New York Liberty. They aim to expand their sports empire by making Brooklyn a larger destination, attracting more fans and building a stronger fanbase. The company, BSE Global, has plans to invest in various initiatives, including a wine club, online magazine, and potential investments in nearby performance venues, restaurants, and hotels, to enhance the overall fan experience and economic growth in the area. [Extracted from the article]

Alexis Ohanian, co-founder of Reddit and husband of Serena Williams, is making a push into women's sports with his latest venture, Athlos. The event, held at Icahn Stadium in New York, aimed to make track more entertaining for fans and increase pay for athletes. Ohanian funded the event through his venture capital firm, 776, and hopes to disrupt the sport by creating a "Coachella" vibe with music and theatrics. The event featured six races and offered the largest purse ever given at a women's track event, with the top finisher receiving $60,000. Ohanian's goal is to address the pay gap in women's sports and provide a platform worthy of the athletes' greatness. [Extracted from the article]

NBA star Steph Curry, fresh off leading the US to an Olympic gold medal in basketball, is heavily involved in the design and evolution of his sportswear brand with Under Armour. Curry recently signed a one-year, $62.6 million contract with the Golden State Warriors and became president of the Curry Brand as part of his arrangement with Under Armour. The company, currently undergoing a restructuring effort, recently raised its annual forecast and is set to move into its new Baltimore headquarters. Curry expressed relief at winning the gold medal, stating that as Team USA basketball, they were expected to win. [Extracted from the article]

NBA star Steph Curry is expanding his product line with Under Armour, following his success in leading the US to an Olympic gold medal in basketball. Curry is involved in the design and evolution of the line and is excited about its potential even after he retires from basketball. He recently signed a one-year, $62.6 million contract with the Golden State Warriors and became the president of the Curry Brand. Under Armour, which has faced challenges in recent years, brought back its founder, Kevin Plank, as CEO to focus on culture and strategy. [Extracted from the article]

The National Women's Soccer League (NWSL) has made significant changes in its bid to become the top soccer league in the world. The league has abandoned the draft system and instead implemented a new collective-bargaining agreement that allows players to enter the league as free agents. This move reflects the league's recognition that what works for men's sports in the US may not work for women's sports. The NWSL has been gaining traction and attracting big names in sports and entertainment, with a recent media deal worth $240 million and the largest franchise sale in women's sports history. However, rival leagues in Europe are also closing the gap, so the NWSL is focused on innovative strategies to attract top talent and reform the way the industry approaches women's sports. [Extracted from the article]

The National Women's Soccer League (NWSL) has made the decision to abandon the draft system in order to compete with other global leagues and attract top talent. This move comes as rival leagues in Europe, such as Barcelona Femení, Lyon, and Chelsea, have been gaining popularity and attracting top players. The NWSL recently signed a lucrative media deal and completed the largest franchise sale in women's sports history. While most major US sports use a draft system, the NWSL believes that a different approach is necessary to maintain its position as the leading nation for women's soccer. [Extracted from the article]

Simone Biles' success at the Paris Olympics has brought attention to GK Elite, a company that produces American-made gymnastics apparel. The company, which has a factory in Pennsylvania, makes the leotards worn by Biles and other US gymnasts. The exposure from the Olympics has boosted sales, particularly of replica uniforms that Team USA promoted before the games. GK Elite is now the dominant provider of gymnastics apparel worldwide and has collections with US Olympians. The company has also partnered with retailers like Dick's Sporting Goods, Target, and Amazon to reach new customers. [Extracted from the article]

The US fencing team recently achieved a historic performance at the Olympics, winning four medals, including their first team gold. In an effort to capitalize on this success, USA Fencing is seeking corporate sponsorships to increase their annual budget of nearly $16 million. Currently, 90% of their funding comes from membership, events, and donors, but they have successfully secured partnerships with companies like Nike and Hilton, totaling over $1 million. These sponsorships have elevated fencing's status among niche sports. The national governing body for fencing operates differently from major sports leagues, relying on sponsorships rather than broadcast deals. Fencing is an expensive sport, with athletes often spending hundreds of thousands of dollars on travel, coaching, and equipment. While many fencers come from affluent backgrounds, some rely on organizations like the Peter Westbrook Foundation for financial support. The US fencing team's increased medal count in Paris compared to the previous Olympics is expected to attract more sponsors, as they offer access to high-income households in major coastal cities, including Asian American and Pacific Islander families. USA Fencing's budget is primarily self-funded, with less than 6% coming from the US Olympic & Paralympic Committee, in contrast to other national teams that receive 70-95% of their funding from the committee. The success of fencers like Lee Kiefer, who won three Olympic gold medals, and Lauren Scruggs, the first Black American woman to win an individual fencing medal, is hoped to further elevate [Extracted from the article]

The New York Liberty, a women's basketball team, has experienced a significant turnaround in recent years under the ownership of billionaire Joe Tsai and his wife Clara Wu Tsai. The Tsais have invested in the team and treated it on par with their NBA team, the Brooklyn Nets. The Liberty's success on the court, driven by good drafting and attracting free agents, has been accompanied by efforts to increase fan engagement, such as moving to a larger venue, offering free streaming of games, and expanding merchandise offerings. These strategies have paid off, with increased attendance, ticket revenue, and corporate sponsorships. The team's success has attracted new investors, including the Koch family. Overall, the Liberty's transformation has positioned them as a top team in the Women's National Basketball Association and a symbol of the growing interest in women's basketball. [Extracted from the article]

Walt Disney Co. CEO Bob Iger and his wife Willow Bay are purchasing a controlling stake in the Los Angeles women's soccer team, Angel City Football Club, for $250 million, making it the most valuable women's sports team globally. Bay, the dean of the University of Southern California's journalism and communications school, expressed her admiration for the team and its success. The growing interest in women's sports, along with the team's potential for growth, motivated the couple's investment. The team was founded in 2020 by actor Natalie Portman, venture capitalist Kara Nortman, and entrepreneur Julie Uhrman, and it generated the highest revenue of any women's sports team in 2023. [Extracted from the article]

Willow Bay, dean of the University of Southern California's journalism and communications school, and her husband, Bob Iger, CEO of Walt Disney Co., have acquired the Los Angeles women's soccer team, Angel City Football Club. The deal values the team at $250 million, making it the world's most valuable women's sports team. Bay and Iger plan to invest $50 million to support the club's growth, and Bay will become the controlling owner. Despite its high valuation, the team has struggled on the field, ranking 11th out of 14 teams. The sale is subject to league approval. [Extracted from the article]

Strategic Sports Group, a collection of sports team owners, has reached a deal to invest up to $3 billion in the PGA Tour. Mark Attanasio, co-founder of Crescent Capital Group and owner of the Milwaukee Brewers, aims to ease the turmoil in professional golf caused by the conflict between the PGA Tour and LIV Golf. Attanasio believes that the best athletes in the world want to compete against each other and hopes to bridge the gap between the two organizations. Despite the controversy surrounding professional golf, Attanasio sees this investment as an opportunity for growth. [Extracted from the article]

Billionaire Ted Leonsis expressed his desire to add the Washington Nationals baseball team to his collection of sports franchises in Washington, D.C. Leonsis, the CEO of Monumental Sports & Entertainment, already owns the NHL's Capitals, NBA's Wizards, and the WNBA's Mystics. He believes that acquiring more teams would allow for cost-sharing and better results. Leonsis also mentioned his dedication to making Washington the capital of women's sports and expressed interest in owning a women's hockey and volleyball team. [Extracted from the article]

Billionaire Ted Leonsis expressed his desire to acquire Major League Baseball's Nationals and add them to his collection of Washington sports franchises. Leonsis, the CEO of Monumental Sports & Entertainment, already owns the NHL's Capitals, NBA's Wizards, and the Mystics of the WNBA. He aims to create a "super city" of sports in Washington, allowing for cost-sharing and improved results. Leonsis also mentioned his interest in making Washington the capital of women's sports, potentially adding women's hockey and volleyball teams to his ownership. [Extracted from the article]

Billionaire Ted Leonsis expressed his desire to acquire the Washington Nationals baseball team, adding to his collection of Washington sports franchises. Leonsis, the CEO of Monumental Sports & Entertainment, already owns the NHL's Capitals, NBA's Wizards, and the Mystics of the WNBA. He envisions creating a "super city" of sports in Washington, allowing for cost-sharing and improved results. Leonsis also mentioned his interest in making Washington the capital of women's sports, potentially adding women's hockey and volleyball teams to his ownership. [Extracted from the article]

Carolyn Tisch Blodgett, the governor and co-owner of Gotham FC, has invested in the Los Angeles Golf Club, one of the teams in the new indoor golf league called TGL. The league, created by Tiger Woods and Rory McIlroy, was originally set to launch in January 2025 but was delayed due to storm damage to the facility in Palm Beach Gardens, Florida. TGL has attracted high-profile investors and athletes, including Reddit co-owner Alexis Ohanian, Serena and Venus Williams, and Stephen Curry. The league plans to play weeknights with two dozen players, using golf simulators and indoor greens with adaptable bunkers and topographies. Each team in the league faces the challenge of creating a new brand that resonates with fans, despite not playing in the cities they represent. The Los Angeles Golf Club is donating 10% of its revenue to the Maggie Hathaway Golf Course in Compton, California, where Venus and Serena Williams grew up. [Extracted from the article]

Oleksandr Usyk, a professional boxer from Ukraine, used an online application called Ready To Fight to find sparring partners for his upcoming match against Tyson Fury. Usyk, who is also the co-founder of the app, used filters to find tall sparring partners similar to Fury's height. The app aims to revolutionize the boxing industry by creating a more efficient platform using blockchain technology. Usyk's use of the app for his training camp was successful, exceeding his expectations. [Extracted from the article]

Crypto.com, a digital-asset exchange, plans to sponsor more sports events as a way to reach non-crypto enthusiasts. They have been the title sponsor for the Formula One Miami Grand Prix since 2022 and have a global sponsorship deal with the racing circuit. Other crypto firms have also been sponsoring sporting events following the collapse of FTX in 2022. Crypto.com has partnerships with various sports teams and organizations, and their visibility has increased significantly since focusing on sports marketing. They currently have over 100 million users and are in the process of expanding their workforce. [Extracted from the article]

This article discusses the evolution of pay in the Women's National Basketball Association (WNBA) and the challenges faced by professional female athletes. Alysha Clark, a WNBA veteran, reflects on her experience starting with a low salary and the lack of financial guidance. Minimum salaries have increased since then, but there is still a significant gap between WNBA and NBA contracts. Many WNBA players supplement their income by playing overseas during the offseason. Clark also shares her financial advice for younger players and emphasizes the importance of sustainability and wise investments. The article concludes with Clark's reflections on her accomplishments and frugal lifestyle. [Extracted from the article]

Shedeur Sanders, the 22-year-old son of NFL Hall of Famer Deion Sanders, has set his sights on becoming a billionaire. While billionaire athletes are rare, Sanders has already gained fame as a star quarterback at the University of Colorado and has secured lucrative endorsement deals with brands like Nike. He is expected to be one of the top picks in the next NFL Draft and has also founded a clothing brand called Legendary. In an interview with Bloomberg, Sanders discussed his financial mistakes, his partnership with his father, and his advice for college athletes navigating endorsement deals. [Extracted from the article]

Former NFL player Andrew Hawkins regrets not investing in the sneaker blog that eventually became StockX, a popular online resale platform valued at nearly $4 billion. Hawkins had connected with the creator of the website, Josh Luber, and pitched the idea of turning it into a business. However, Hawkins got distracted by his football career and Dan Gilbert, owner of the Cleveland Cavaliers, ended up buying the blog and transforming it into StockX. Despite this missed opportunity, Hawkins has since become the co-founder of a sports technology and gaming startup called StatusPro, which recently closed a $20 million funding round. In an interview with Bloomberg, Hawkins discusses his investment stories and lessons learned, including the importance of aligning culture and ideology with investment opportunities. [Extracted from the article]

Terence Crawford, a welterweight champion boxer, is considered one of the best fighters in the world. Despite being 36 years old, he is still focused on pursuing lucrative mega fights. In an interview with Bloomberg's Randall Williams, Crawford revealed that he felt he had "made it" when he received his first $1 million paycheck. He also mentioned that he is currently investing in real estate, believing it to be a reliable investment. [Extracted from the article]

Read more: Women's Basketball Is Raking in More Cash Than Ever, But the Players Aren't "People are realizing that a lot of shoes have been passed off as women's shoes that are men's shoes in a smaller size", said Matt Powell, a senior adviser at consulting firm Spurwink River. (Bloomberg) -- For Courtney Williams, a guard for the WNBA's Chicago Sky, breaking in her shoes to get them to fit properly and avoid injury has been a ritual for her entire playing career. [Extracted from the article]

On this episode of the Bloomberg Originals series Next in Sports, we explore how - as World Chase Tag co-founder Christian Devaux said - World Chase Tag is building a league and a business. The league draws most of its competitors from the ranks of parkour, a loosely organized sport practiced mostly by daredevils caroming off buildings, cars or other structures. "Success for me is getting the sport to a point where there is financial gain being made, not just by World Chase Tag, but by all of the people within the community", Devaux said. [Extracted from the article]

And just like Madden, NFL Pro Era has a star player - in Baltimore Ravens quarterback Lamar Jackson - to be the face of the game. A few years ago, Troy Jones, who played quarterback in college, and Andrew Hawkins, a former NFL wide receiver, pitched the league and the NFL Players Association on a virtual reality video game. [Extracted from the article]

The Questionable Science Behind Sports "Recovery" Tech (Bloomberg) -- The "recovery" technology industry claims to help athletes bounce back after training. Players have endorsed everything from massage guns to cryo-chambers, and even professional sports leagues are getting in on the action. [Extracted from the article]