A group led by David Blitzer, co-owner of the Philadelphia 76ers and the New Jersey Devils, has reached an agreement to purchase MLS club Real Salt Lake for nearly $400 million, according to people familiar with the talks.
The first increment of the $1.5 billion sale of the Minnesota Timberwolves to e-commerce mogul Marc Lore and retired baseball star Alex Rodriguez has been formally approved by the NBA
Boutique investment bank Inner Circle Sports has spent two decades advising the buyers and sellers of pro sports teams, but the firm only expanded into sports technology and services advisory in 2015 following an internal pitch from Kyle Charters.
Major League Soccer’s (MLS) Orlando City SC are close to being sold to the Wilf family, the owners of the National Football League’s (NFL) Minnesota Vikings, according to Sportico.
Sports IQ, a betting tech provider, has raised $7 million in seed funding from a group with deep sports experience, including the Kraft Group, which owns the New England Patriots, former Chicago Cubs executive Theo Epstein and Boston Red Sox CEO Sam Kennedy.
At a time when some of the largest collegiate sports agencies have been struggling due to the impact of COVID on their businesses, Wasserman is making a move in the collegiate space with the acquisition of Riddle & Bloom, a Boston-based marketing firm that targets collegians, generally outside of athletic venues.
There is an old joke that goes, If you want to become a millionaire, be a billionaire and buy a sports team. While this may have been true once upon a time, the world of sports is drastically different today.
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