Record franchise deals, expanding sports partnerships, and evolving media distribution highlighted another active two weeks across sports.
Institutional capital remained active across sports over the past two weeks, led by Stan Kroenke's record $4 billion agreement to acquire the Los Angeles Angels and Marc Stad's $4.5 billion acquisition of the Timberwolves and Lynx. Beyond ownership activity, leagues continued investing in their core products, betting and prediction platforms expanded their relationships with major sports properties, and media companies pursued new distribution partnerships.
Franchise Transactions and Institutional Capital Remain Active
Control sales, minority investments, and new capital raises reflected continued investor demand for premium sports assets.
Stan Kroenke agrees to buy the Angels for a record $4 billion
Stan Kroenke reached an agreement to acquire a controlling interest in the Los Angeles Angels from Arte Moreno for $4 billion, setting a new record for an MLB franchise sale. The transaction surpasses the $3.9 billion sale of the San Diego Padres completed just weeks ago and further expands Kroenke Sports & Entertainment's portfolio, which already includes the Rams, Nuggets, Avalanche, Arsenal, and Colorado Rapids. The deal remains subject to MLB approval.
Marc Stad agrees to buy control of the Timberwolves and Lynx at a $4.5 billion valuation
Marc Stad, founder of Silicon Valley investment firm Dragoneer, has agreed to acquire the majority of Marc Lore's stake in the Minnesota Timberwolves and Lynx, which would make him the teams' controlling owner at $4.5 billion valuation. The price is triple the $1.5 billion valuation Lore and Alex Rodriguez paid to acquire the teams from Glen Taylor in 2021; Rodriguez is increasing his own stake and will remain Lynx governor, while Lore retains a minority position.
Islanders add Lateralus Holdings' David Shuman as a limited partner
The New York Islanders added David Shuman, founder of venture capital firm Lateralus Holdings, as a limited partner, a deal that is subject to NHL approval and does not affect Scott Malkin's control of the team. Neither the size of Shuman's stake nor the team's valuation in the transaction was disclosed, though Forbes' most recent list valued the Islanders at $2.1 billion.
Woody Johnson buys a minority stake in the Aston Martin Formula 1 team
New York Jets and Crystal Palace owner Woody Johnson bought a minority stake in the Aston Martin Formula 1 team and joined its board as vice chairman. The size of Johnson's stake was not disclosed; Sportico's most recent F1 valuations put Aston Martin at roughly $3 billion, the series' fifth most valuable team.
Unrivaled raises $106 million at a $650 million valuation
Unrivaled, the 3v3 women's basketball league, closed an oversubscribed $106 million Series C round led by Ten Pillars Sports Fund, which is backed by UC Investments. The round nearly doubles the league's valuation to $650 million, up from $340 million in last year's Series B, with Carmelo Anthony, Ashton Kutcher, Alex Morgan, and Trae Young among the investors. Players remain the largest shareholder group, with their equity pool now valued at nearly $200 million.
Leagues and Tours Adjust Their Competition and Economic Models
Record prize money and changes to competition formats highlighted recent developments across major sporting events.
The US Open sets record $108 million prize purse as commercial business expands
This year's US Open kicked off with arecord $108 million prize purse, up 20% from 2025, and the sport's largest-ever single winner's check at $5.5 million. The tournament has grown its sponsor roster from 21 to 31 partners over the past year and is in the first year of a 12-year, roughly $2 billion domestic media rights deal with ESPN, while Arthur Ashe Stadium is midway through an $800 million renovation funded entirely by the USTA without public money.
PGA Tour overhauls its postseason with a new match-play format
The PGA Tour announced a revamped postseason beginning in 2028: the top 90 players compete in a 72-hole stroke-play finale before the top 32 advance to a two-week, match-play Tour Championship. The format replaces the three-event, progressive-cut playoff structure the Tour has used since 2007.
Betting and Prediction Markets Expand Their Sports Footprint
New partnerships across the NFL and MLB show betting and prediction platforms continuing to deepen their relationships with major sports properties.
NFL renews DraftKings and FanDuel, adds Fanatics as an official betting partner
The NFL signed new multi-year deals with longtime sports betting partners DraftKings and FanDuel and added Fanatics as a new official partner. The agreements let the three operators use NFL trademarks, appear at events including the Draft and Super Bowl, and integrate the league's real-time Genius Sports data into live-betting products; financial terms were not disclosed.
Kalshi expands its MLB presence through partnerships with five teams
Prediction-market platform Kalshi signed multi-year partnerships with the Atlanta Braves, Boston Red Sox, Los Angeles Dodgers, San Diego Padres, and San Francisco Giants, expanding its presence across in-stadium signage, digital media, radio, and fan activations. The agreements mark Kalshi's first partnerships with MLB clubs and come as the company says baseball-related trading volume on its platform has increased 36x year over year.
Media Distribution Continues to Evolve
Media companies continued expanding sports distribution through acquisitions, new partnerships, and evolving streaming strategies.
Prime Video adds six NHL teams to its local streaming lineup
Prime Video and the NHL announced a multi-year deal making Amazon's platform the exclusive local streaming home for six teams, including the defending Stanley Cup champion Carolina Hurricanes, along with the Ducks, Blue Jackets, Stars, Wild, and Blues, starting with the 2026-27 season. It builds on Prime Video's growing footprint in NHL local media, which already spans the Seattle Kraken, MSG Networks, NESN, YES Network, and several other regional sports networks, and follows the 12-year deal reached this summer to exclusively broadcast Wednesday night national NHL games in Canada.
DAZN's EverPass acquisition gains momentum with expanded Netflix deal
DAZN agreed to acquire EverPass Media, the exclusive commercial distributor of NFL Sunday Ticket, expanding its U.S. presence across bars, restaurants, hotels, casinos, and other commercial venues. Days later, EverPass expanded its relationship with Netflix through a multi-year agreement to distribute Netflix's full NFL slate to commercial establishments, including five games in 2026 and NFL Honors. As part of the DAZN transaction, 32 Equity, RedBird Capital Partners, and TKO Group Holdings will become minority shareholders in DAZN.
NWSL replaces Victory+ with Roku after ending streaming partnership
The NWSL reached a deal with Roku to carry its remaining Sunday night matches after ending its partnership with Victory+, which had been scheduled to carry 57 league matches this season. Roku will stream eight remaining Sunday night games in 2026 on its free Roku Sports Channel before expanding to 25 matches in 2027. The shift highlights the importance of both distribution reach and counterparty stability in a fragmented sports media landscape.
And On a Fun Note...
My kids may have been more interested in Spider-Man than tennis at this year’s U.S. Open. During Fan Week, the tournament handed out 45,000 special-edition Spider-Man comics, and My kids may have been more interested in Spider-Man than tennis at this year’s U.S. Open. During Fan Week, the tournament handed out my kids managed to snag a couple. I also appreciated that Fan Week was free to attend, a nice way to bring families in and perhaps create a few future tennis fans along the way.
