🔊 SURJ Makes A Billion Dollar Bet

📰 TOP STORY
DAZN Sells Minority Stake To SURJ Investment Fund

• SURJ Sports Investments, the sports arm of Saudi Arabia’s Public Investment Fund (PIF) has acquired a minority stake in international sports-focused streaming service DAZN. The agreement is reported to be worth $1B in exchange for a 10% ($10B valuation) stake in the business. SURJ Sports has invested in other sports-related companies, teams, and leagues such as Bellator MMA, Euroleague, LIV Golf, and Professional Fighters League, but this is one of their biggest bets, and for good reason. DAZN, founded in 2007, has become one of the premier sports streaming services globally. Headquartered in London, it has also been largely bankrolled by billionaire and owner Len Blavatnik. Yet, it has still struggled financially. In 2023, the company posted a pre-tax loss of $1.43B (up from the loss of $1.2B in 2022) despite a growth in revenue year-on-year from $2.19B to $2.86B. Last week, I wrote about how critical media and IP are to the future of the sports ecosystem, but in this business, it also takes significant upfront investment and operational costs. This influx of capital allows DAZN to continue competing globally and removes the pressure on Blavatnik to continue supplying funds. With this funding, DAZN can bid for rights, diversify its media business, and expand its subscriber base worldwide. Also, as sports become more prevalent in the Middle East, this partnership will be a game-changer for the entire region regarding distribution and broadcasting. For SURJ, outside of helping the growth of sports throughout the MENA region, this gives them ownership in a mega-asset, that rights seems massively undervalued, where they can capture significant upside and return on their investment over time (more here).

💰 MONEY MOVES 
Trading Card Marketplace Raises Series A Round

• CollX Raises $10M. CollX, a Philly-based trading card platform, announced a $10M Series A round. The company plans to use the funding for marketing and platform development. Lead investors included Brand Foundry Venture and 114 Ventures, which also contributed to the company’s $5.5M seed round in 2023. Ben Franklin Technology Partners, Next Coast Ventures, and FJ Labs also contributed to both rounds (more here).

• Ochy Raises $1.7M. Ochy, an AI-powered running gait platform based in Rennes, France, raised $1.7M in Pre-Seed funding. The round was led by Redstone’s Social Impact Fund and included participation from Look AI Ventures, BPI France, Berkeley SkyDeck, and strategic corporate investors, including Agile Physical Therapy. The company intends to use the funds to drive its next growth phase, enhancing its computer vision AI technology, expanding its global reach, and strengthening its community-driven initiatives (more here).

• Blueprint Sports Acquires SANIL. Blueprint Sports, a leading NIL agency for collegiate athletic departments and student-athletes announced its acquisition of SANIL, another early pioneer in the NIL landscape. This strategic acquisition positions Blueprint Sports as a leading NIL force in transforming collegiate athletics. It also provides dedicated on-campus revenue-generating NIL personnel with enterprise-grade digital solutions that generate new commercial fan revenue, ensure compliance, and reveal actionable insights through advanced analytics on fans and student-athletes (more here).

• Tether Invests In Juventus Football Club. Cryptocurrency firm Tether has acquired a 5% minority stake in Serie A soccer club Juventus. The team expects to use Tether’s expertise in technology to deliver a “sports-digital asset synergy at a new level.” Juventus has been majority-controlled by the Agnelli family since 1923. The family is also the majority owner of the automotive company Stellantis, which comprises brands such as Fiat, Chrysler, Alfa Romeo, and Ferrari. (more here).

 🤝 PARTNERSHIPS
Portland Trailblazers Are Investing In A New Fan Experience

• Portland Trailblazers & ANC Sports Form Partnership. The Portland Trail Blazers have announced plans for videoboard upgrades to be available next season at the Moda Center. The project is the product of a new partnership with ANC, a sports entertainment agency. The scoreboards will also be designed in collaboration with technology consultant Anthony James Partners (more here).

• Portland Thorns & Ring Form Partnership. The Portland Thorns of the NWSL have signed a multi-year sponsorship deal with Amazon-owned home security company Ring. The Ring logo will be displayed on the front of the Thorns’ jerseys, cold-weather jackets, and media backdrops. The partnership will also include interactive fan activations and exclusive team experiences to boost fan engagement. Ring will also install its products throughout the Thorns’ training facility and at Providence Park, giving fans a behind-the-scenes look at training (more here).

🔊 ATHLETES & OTHER NEWS
NBA Tech Summit Celebrates Its 25th Anniversary

• NBA Introduces Robots At 25th Annual Tech Summit. The highlight of this year’s summit was the demonstration of Boston Dynamics' Spot® robot dogs, which entertained the audience by launching T-shirts and showcasing their agility. However, beyond entertainment, the event delved deeper into the practical applications of robotics in professional basketball. Videos featuring Stephen Curry, Draymond Green, and head coach Steve Kerr provided a firsthand look at how AI-driven robots can enhance performance (more here).

• The Most Valuable MLS Teams 2025. Forbes recently released its rankings for the most valuable MLS teams. For the third straight year, LAFC is MLS’s most valuable team, worth an estimated $1.25B, just ahead of No. 2 Inter Miami at $1.2B. The LA Galaxy, No. 3 at $1B, became the league’s third team in the three-comma club. Check out the full rankings (more here).

• Milwaukee Bucks Ownership Group Has A New Billionaire. Former NBA player turned entrepreneur Junior Bridgeman, recently joined the ownership group of his former team. This past week, he reached another milestone by becoming a billionaire according to Forbes. Bridgeman, retired from the NBA in 1987 and acquired more than 450 fast-food franchises, including a series of Wendy's, Pizza Hut, and Chili's locations, before acquiring a Coca-Cola bottling company in 2016 (more here).

• San Francisco 49ers Weight 10% Stake Sell At $9B Valuation. The 49ers are reportedly seeking a fee that would value the overall franchise at $9B, the most ever for an NFL team, with private equity funds and wealthy individual or familial investors being considered. In December 2024, the Buffalo Bills and the Miami Dolphins became the first NFL teams to confirm private equity investment, while the New York Giants recently tapped an investment bank to lead their private equity search (more here).

• NBA All-Star Game Ratings Tank, Second-Lowest On Record. The NBA All-Star Game averaged 4.7M viewers, the second-least-watched game on record, after unveiling a new, tournament-style format. Viewership of Sunday night’s game across TNT, TBS, and TruTV was down 13% year-over-year, according to Front Office Sports’ Ryan Glasspiegel (more here).

• TitletownTech Will Host Startup Draft Day Ahead Of NFL Draft This Year. TitletownTech, a venture capital firm formed out of a partnership between the Green Bay Packers and Microsoft, is launching a competition awarding $1M investments to startup companies. To qualify, startups must have less than $10M in capital and be based in the United States or Canada. The intention is to promote everything Wisconsin has to offer in emerging technology (more here).

• Cavs' Tristan Thompson Takes Leading Role In New AI Company. The Cavs veteran, playing in his 14th NBA season, has been named the chief content officer and lead advisor of a new artificial intelligence platform. TracyAI, showcased during NBA All-Star Weekend, will provide real-time analysis, predictive insights, and engagement for sports broadcasts designed to enhance the way basketball fans see and understand the game (more here).