The 4th Quarter: Latest In Sports Tech This Week, June 13th, 2025

New $500M College Sports Fund, Live Nation’s $1B Venue Pledge, New Job Board

Jun 13, 2025

*Photo Creds: Elevate launches a $500M college sports fund with help from Velocity Capital and Texas’s Permanent School Fund*

The New Era of College Athletics: Elevate’s $500M Playbook

On June 6th, 2025, the historic House vs. NCAA was finally approved and it forever changed college athletics. This settlement mandates that schools pay up to $20.5M annually to student athletes starting in 2025.

Not even seven days later, Elevate Sports Ventures - the prominent management consulting firm focused on teams & leagues - raised a $500M fund designed to support the school’s capital intensive projects such as facility upgrades, renovations, and multimedia rights. The fund’s uniqueness lies in Elevate’s long-term operating agreements with universities with the capital support of Velocity Capital Management and Texas Permanent School Fund.

At first glance, the timing makes sense: college sports are monetizing like never before, creating what looks like a massive opening for private equity to get involved. But properly penetrating this space is anything but simple.

College Sports Investing is Unchartered Territory

Although new monetization opportunity have exploded for college sports - creating a seemingly lucrative opening for private equity - there are a few cumbersome barriers that still stand in their way:

Teams just aren’t profitable. If you want a PE firm’s equity check, you have to follow their golden rule: generate stable, predictable cash flows. College athletic programs rarely operate that way. Only ~1.4% of college athletic programs turned a profit in the ‘21 - ‘22 academic year. Even some of the biggest college brands are bleeding: UCLA Athletics hit a $52M loss in 2024, accruing $220M in debt over the last six years.

Elevate’s Chief Business Officer Jonathan Marks said it best: “Revenue streams probably can’t grow annually to outpace the needed return on the private equity side.”

Universities stick to academics. To get a deal done, you need buy-in from multiple stakeholders - especially the board of regents, many of whom aren’t in it for business. While PE firms care about returns, regents prioritize protecting the school’s academic mission and avoiding scandal. Deals can feel like outsiders are trying to seize control of a school’s cherished team, triggering backlash from donors, fans, and alumni.

Is it really worth the hassle? Most universities are tax-exempt entities without traditional equity structures, and investing in public university operations may require government exemptions. While there are some legal loopholes - like establishing NewCos that house specific assets like ticket sales or media rights - schools may decide the headache isn’t worth it.

While we don’t have full visibility into the exact deals Elevate’s Collegiate Investment Initiative Fund has closed or is targeting, it’s evidently clear that they see real creative opportunities to deploy capital - using structures that work around these barriers and still generate serious returns.

It’s All About Private Credit and Structured Deals

Elevate’s new fund isn’t in the game of providing equity checks - they’re in the business of lending. To expand new revenue streams - from venue renovations, multimedia rights deals, and NIL platforms - universities need dollars upfront at a low cost of capital. A direct loan helps finance these projects, while Elevate generates a steady return through interest and principal repayment.

But while private credit opens the door, structured deals are where real upside lives. Following Sixth Street’s playbook - like revenue-sharing partnerships with La Liga Media and Real Madrid’s stadium - Elevate could eventually strike similar agreements that give them a piece of the upside. It’s a way to provide capital today while tying returns directly to the long-term growth of college sports' most valuable assets. For example, financing Alabama’s stadium renovation today could set the stage for future capital returns tied directly to premium seating, sponsorship, and ticket sales.

In a landscape where schools need creative capital solutions but want to avoid full-scale equity deals, this hybrid approach may prove to be the winning model.

Sports-Tech Market Activity: Investors & Deals

Venture Capital

Ballers, a pickleball and racket sports-focused social club, raises $20M in Series A ahead of ambitious U.S. expansion plans (June 9th)
- Bringing total funding to $30M; 50+ location expansion planned, including its first club to open in Philadelphia, with Boston, L.A., and Miami coming by 2026
- Investment led by Sharp Alpha and RHC Group; other investors include over 30 professional athletes and 76ers & NJ Devils owner David Blitzer, among others [Sportico]
Somnee, a sleep tech wearables startup merging neurotech and software via its neurostimulation headband, raises $10M in Seed Extension funding round (June 10th)
- Participant of the NBA Launchpad’s 2025 cohort
- Supporting its second-generation headband launch; currently in beta pilot phase with select NBA teams
- Investment led by Khosla Ventures; other investors include Time Ventures, Lead VC, DeVos family, and Seaside Ventures, among others [Athletech]
Arketa, an all-in-one operating platform for small to mid-sized boutique fitness studios, raises $15M in Series A funding (June 9th)
- Accelerating product development and expanding its boutique fitness software market share
- Investment led by Inspired Capital; other investors include existing investors First Round, Y Combinator, Amity, and Velvet Sea [Athletech]

ReSpo.Vision, a deep-tech sports computer vision startup that recreates single camera broadcasts into multi-POV 3D player tracking insights, raises €4.2M ($5M) in funding (June 10th)
- Expanding offerings to broadcasters and rights-holders, among other key platforms
- Investment led by VC funds Vinci and Smartlink; other investors include Southampton’s D Jan Bednarek, and Snowflake’s Marcin Zukowski, among other angel investors [SBJ]

Eli Health, a health-tech startup targeting hormonal health through at-home saliva-based hormone monitoring, raises $12M in Series A funding, bringing total funding to $20M (June 10th)
- Supporting scale of first flagship product, Hormometer™, and expanding its biomarker library
- Investment led by BDC Capital’s Thrive Venture Fund; other investors include Muse Capital, among others [FittInsider]

Machaxi, a Bengaluru-based sportstech platform making sports more accessible through grassroots coaching and leasing multi-sport centers, raises $1.5M in funding (June 11th)
- Funding expansion into Hyderabad, Pune, and Chennai markets
- Investment led by Rainmatter, the investment arm of Zerodha [FinSMEs]

M&A and Investments

Elevate, a global sports representation firm, launches $500M ‘Collegiate Investment Initiative’ fund for college athletics revenue-generating ventures, primarily through credit (June 9th)
- Focused on deals for stadium upgrades, NIL platforms, and media rights, among others; two athletic programs have reportedly already signed deals
- Elevate will also provide strategic consulting via its ownership group, including HBSE and the 49ers
- Investment backed by Velocity Capital and Texas Permanent School Fund; capital targets [Elevate]
Warner Bros. Discovery undoes 2022 WarnerMedia-Discovery merger in splitting cable and streaming divisions, expected to conclude mid-2026 (June 9th)
- ‘Global Networks’ unit to house cable channels like CNN, TNT Sports, Discovery, and Bleacher Report, among others
- ‘Streaming & Studios’ unit to house HBO, HBO Max, Warner Bros. film and TV studios, and DC Studios [Sportico]

Teamworks, an operating platform for elite sports teams, acquires football video analytics platform Telemetry Sports to enhance its football coaching analytics platform (June 6th)
- Follows Teamwork’s $65M Series E funding, raising $165M in total funding
- Telemetry serves 80% of NFL teams and 20% of Power 4 college football programs
- Deal adds advanced player tracking, video, and data analysis to ‘Teamworks’ Intelligence’ new coaching platform [Teamworks]
MLB acquires minority stake in creator-led sports media company Jomboy Media, collaborating across content and IP development, among other functions (June 10th)
- Acquisition stems from MLB’s over $1B Baseball Endowment L.P. (BELP) fund
- Seeks to expand reach via baseball content creators, sponsorship collaborations, and Jomboy Media content on MLB platforms [Sportico]

Diamond Baseball Holdings, owner and operator of MLB-affiliated minor league clubs, acquires Washington Nationals Single-A affiliate, Fredericksburg Nationals (June 9th)
- Acquiring stake from the Silber family, who held ownership since 1990
- ‘FredNats’ join the Nationals’ Double-A affiliate, the Harrisburg Senators, in acquisitions by DBH [MiLB]

Premiership Rugby taps Raine Group, Deloitte, opening doors to US investment interest in league or individual clubs (June 11th)
- Follows Premiership Rugby’s 26% stake sale to CVC for £200M in 2018
- Raine and Deloitte duo recently active in The Hundred’s auction processes for its eight franchises
- Raine and Deloitte to explore supplemental growth opportunities rather than transactional stake sales, as seven clubs face the threat of balance sheet insolvency [SportsPro]
Grand Slam Track welcomes new roster of investors to league’s cap table, canceling LA meet (June 12th)
- New investors include Sundial Brands’ Richelieu Dennis and Robert F.Smith
- Funding the league’s second season; LA June event cancelled following completion of Kingston, Miami, and Philadelphia meets [Sportico]

‘European League of Football’, an American football style league that debuted in 2021, raises over $10M in funding (June 11th)
- Tournament media rights have reportedly been sold in North & South America, Africa, and Europe
- Investors include Goal Line Sports, 885 Capital, and Oakvale Ventures [SkyNews]

Live Nation devotes $1B towards development of 18 US live music venues to bring ‘big shows’ to smaller US cities (June 10th)
- Developments towards both new and renovating venues ranging from clubs to amphitheaters
- Follows Live Nation’s reported $14B investment towards putting on artists’ shows in 2024 [MBW]

Photo Creds: Ballers, a pickleball & rackets-focused social club, raises a $20M Series A

Strategic Ventures

Puma, Meta partner in immersive mixed-reality retail experience for the launch of ‘All Pro Nitro’ sneaker (June 11th)
- Follows the pair's previous collaboration in VR featuring HIIT, boxing, Zumba, and yoga workouts offered in Germany Puma locations last year
- Experience launched on Meta Quest headsets, allowing users to measure shoe size within a virtual ‘WebXR’ store environment [Athletech]

Portuguese soccer club SL Benfica partners with metaverse company Infinite Reality to gamify shopping through the ‘first 3D soccer merchandise store’ (June 11th)
- Virtual experience to feature 3D version of Benfica’s locker room accompanied by an AI-agent guide, and BTS content, targeting digitally-savvy customers [SportsPro]

Theta Labs, a blockchain-powered video delivery network, partners with MLS’ Philadelphia Union, powering new AI app for fan engagement (June 12th)
- Named presenting partner of Union’s official mobile app, launching summer 2025
- AI agent to offer real-time insights, player stats, interactive content & in-seat QR access across Subaru Park
- Deepens Theta’s sports presence alongside NBA, NHL, MLS, and top esports teams [PhiladelphiaUnion]

Gold’s Gym partners with functional fitness competition Hyrox to launch dedicated Dallas Performance Center (June 9th)
- Builds on Hyrox’s affiliate gym model launch last year via ‘Performance Centers’
- Featuring official Hyrox equipment, alongside Hyrox coach and athlete-led workshops and clinics [Athletech]

Opendorse, a leading NIL marketplace, partners with athlete marketing intelligence platform Student Athlete Score for bolder NIL insights (June 5th)
- ‘Opendorse Discover+’ platform features integration that brings real-time benchmarking, audience insights & influence scoring [Opendorse]

Fastbreak AI, a sports scheduling and operations platform, launches youth-sports scheduling engine ‘Fastbreak Compete’ (June 10th)
- Already adopted by 12 youth sports orgs; 40+ committed for 2026 rollout
- Fastbreak Compete now features AI scheduling used by 50+ pro leagues, including NBA, NHL, MLS, and NWSL [SBJ]