The NHL Board of Governors unanimously approved the sale of the Pittsburgh Penguins Tuesday, ending the four-plus year ownership tenure of Fenway Sports Group. The enterprise value in the deal was $1.7 billion, according to someone familiar with the agreement. Geoff Hoffmann will be the Penguins governor. He is CEO of of the private equity […]

The Miami Marlins quietly sold a minority stake in the club this spring to help pay down debt. The deal for about 15% of the team was at a valuation of $1.55 billion, according to two people familiar with the details. Another source said the valuation was closer to $1.4 billion. The buyers were two […]

Nationwide Mutual Insurance has reached an agreement to buy a 37% stake in MLS’ Columbus Crew at a $900 million valuation, according to multiple people familiar with the details. The deal is expected to close in the coming weeks and still needs approval by the MLS board of governors. Last month, Haslam Sports Group, which […]

Billionaire Patrick Soon-Shiong, a part-owner of the Los Angeles Lakers and one of the richest men in California, has agreed to buy a Major League Volleyball expansion franchise in Los Angeles. Soon-Shiong will be the majority owner of the team, set to begin play in 2027, he told Sportico in an interview. He is buying […]

The NFL approved Arctos Partners’ latest team investment, marking Arctos’ third football club. Sportico identified 32 teams now in its portfolio—the deepest roster of investments in pro sports. The deal is for about 3% of the Cleveland Browns at a $9 billion valuation, according to someone familiar with the details. It is the first tranche, […]

Billionaire Vinod Khosla, a recent investor in the San Francisco 49ers, is prepping a bid to buy the Super Bowl-champion Seattle Seahawks, according to multiple people familiar with the plans. The co-founder of Sun Microsystems and a prominent VC investor, Khosla recently submitted a letter of intent as part of the process, said the people, […]

Aditya Mittal, a member of one of India’s richest families and an investor in the Boston Celtics, along with former Celtics control owner Wyc Grousbeck, are preparing a bid for the NFL champion Seattle Seahawks, according to multiple people familiar with the process. Mittal contributed about $1 billion to the 2025 Celtics takeover, his first […]

Golden State Warriors co-owner Joe Lacob said his unsuccessful bid to buy the San Diego Padres assumed that the entire 2027 MLB season would likely be lost due to labor strife. Lacob’s group was one of a handful of final bidders in the MLB auction, which was ultimately won by billionaire José E. Feliciano and […]

The primary group hoping to purchase the Vancouver Whitecaps and relocate the MLS club to Las Vegas is being led by Grant Gustavson, according to multiple people familiar with the matter. Gustavson is the son of billionaire Tamara Gustavson, who is one of the wealthiest women in America, worth an estimated $8.5 billion according to […]

Haslam Sports Group’s deal to buy into NWSL for $205 million had a second commercial benefit for owners: It ensured the league would also see the full amount of the $165 million committed by billionaire Arthur Blank last year. Blank’s AMB Sports and Entertainment (AMBSE) bought an NWSL expansion team in November for a then-record […]

The NWSL has agreed to add an 18th team in Columbus, Ohio, owned by Haslam Sports Group, according to multiple people familiar with the details. The league confirmed the expansion news in an announcement Tuesday. The group, which includes the Edwards family and insurance giant Nationwide, has agreed to pay a record $205 million expansion […]

Private equity billionaire José E. Feliciano and his wife Kwanza Jones have reached a deal to buy the San Diego Padres for $3.9 billion, according to multiple people familiar with the details. The price shatters the record for an MLB franchise sale, previously set when Steve Cohen bought the New York Mets for $2.42 billion […]

Second-round bids for the San Diego Padres were due this week, and all first-round bidders submitted new offers, including three of at least $3.5 billion, according to multiple people familiar with the details who were granted anonymity because the details are private. One of the bids approached $4 billion, according to two people. The Padres […]

Idan Ofer is expanding his sports empire. The Israeli shipping tycoon, who Forbes estimates is worth $32.1 billion, has purchased Spain’s Los Gallos SailGP Team through his holding company Quantum Pacific Group. Terms of the deal were not disclosed. But SailGP managing director Andy Thompson said the transaction was “in line with our recent valuations.” […]

The NBA board of governors approved Tom Dundon’s agreement to buy the Portland Trail Blazers from the estate of former owner Paul Allen. Sportico was first to report last year that Dundon’s group, which includes Blue Owl Capital co-president Marc Zahr and Portland-based Sheel Tyle, co-CEO of Collective Global, had a deal to buy the franchise. […]

Houston Rockets owner Tilman Fertitta reached an agreement to buy the Connecticut Sun and will relocate the WNBA franchise to Houston, according to a Monday morning statement from his company, Fertitta Entertainment. The deal is still pending league approval, but the team is expected to begin play at the Toyota Center for the 2027 season. The […]

This column originally ran in Club Sportico, a Friday newsletter community that discusses sports business with additional opinion and humor. You can subscribe here. The NBA is officially soliciting bids for a new franchise in Seattle. After years of casual discussion and much speculation, commissioner Adam Silver announced this week that owners had greenlit the league’s first […]

Alexis Ohanian was in the middle of celebrating his golf team’s TGL championship Tuesday night when he broke a piece of news: Earlier that day, he said, he’d purchased the second franchise in TGL’s upcoming women’s league. It’s the latest in a slew of M&A in the upstart golf league, which just finished its second […]

The Carolina Hurricanes’ latest minority transaction received approval from NHL owners on Tuesday, according to a person familiar with the matter. Sportico previously reported that Tom Dundon had agreed to sell 12.5% of the team at a $2.66 billion valuation. Under the terms of the transaction, three new minority partners joined the franchise’s cap table. […]

Carlos Vela is coming home. The 37-year-old Mexican star is returning to LAFC, where he spent seven seasons from 2018 to 2024 and scored 90 goals in all competitions. But Vela, who announced his retirement in May, isn’t planning to lace up his boots again. He’s going down a different path. Vela headlines a group […]

Carolina Hurricanes owner Tom Dundon has reached an agreement to sell 12.5% of the team at a $2.66 billion valuation, according to multiple people familiar with the terms. The deal includes three new minority partners, said the people who were granted anonymity because the details are private. Their identities were not shared. The sale comes […]

Marc Lasry’s Avenue Sports Fund has reached an agreement to invest $40 million into NWSL club North Carolina Courage at a $155 million pre-money valuation. The deal does not include a path to control, according to multiple people familiar with the deal who were not authorized to speak publicly because the details are private. Representatives […]

The Miami Dolphins are adding a new limited partner to their ownership group at a record valuation for a publicly known minority transaction, according to multiple people familiar with the matter. Lin Bin, the co-founder and vice chairman of Chinese consumer electronics company Xiaomi, has reached an agreement to buy a 1% stake in the […]

When billionaire Rob Walton bought the Denver Broncos four years ago, he didn’t hesitate to flex his financial muscle. The 81-year-old, who Forbes estimated was worth $65 billion in 2022, paid a then-record $4.65 billion for the NFL franchise, reportedly outbidding the next best offer by at least $400 million. In retrospect, the purchase price […]

The owners of the Houston Dash are relaunching the formal process to sell the team after trying last year to finalize an agreement with a group tied to a disappeared Chinese billionaire. Ted Segal, who owns both the Dash and the Houston Dynamo, was in advanced talks last year to sell the NWSL club to […]

Two different billionaire English Premier League owners are among those who have expressed interest in buying the San Diego Padres, according to multiple people familiar with the process. Dan Friedkin, whose Pursuit Sports owns Everton and AS Roma, and José E. Feliciano, whose Clearlake Capital is a backer of Chelsea, are two of a handful […]