Transactions Roundup for May 23: A Recap of Sports Deals and Mergers
FEATURE: Sportico's Transaction Wire Highlights Industry Shifts
Welcome to the latest edition of Sportico's Transactions Wire, a weekly rundown of personnel changes, partnerships, product launches, and acquisitions across the sports business sector.
PERSONNEL
Levy has strengthened its network by recruiting Steve Dolinsky, a 13-time James Beard award-winning food journalist and veteran of Chicago's food beat, to head their food projects. Known as "The Food Guy," Dolinsky will focus on trendspotting, relationship building, and creative execution across Levy's various venues, including restaurants, sports facilities, and cultural attractions.
Lights Out Productions, parent company of BKB Bare Knuckle Boxing and its developmental league Trigon Combat, has appointed David Tetreault as its president. Tetreault brings extensive experience from executive roles at Sony Pictures, Warner Brothers, FOX, Clear TV, Golden Boy Productions, and Triller.
The Ladies Professional Golf Association (LPGA) has elected Craig Kessler as its new commissioner. Kessler most recently served as Chief Operating Officer of the PGA of America before being selected following a global search led by the LPGA's Board of Directors search committee.
PARTNERSHIPS
Sonic Drive-In has returned as the Presenting Partner for X Games Salt Lake City 2025, with plans for Sonic activations and integrations with top X Games athletes. Toca Football, an AI soccer training and entertainment company in North America, has secured $35 million in new funding and extended its official partnership with Major League Soccer through 2036. Fanatics Sportsbook has become the primary sponsor of the New York Racing team's No. 44 Chevrolet for two NASCAR Cup Series' races.
Lexus has partnered with the Premier Lacrosse League as the league's first automotive partner, serving as the entitlement sponsor of the 2025 PLL and WLL All-Star Weekend, as well as the 2025 PLL End of Year Awards. Overtime Select and E.L.F. Cosmetics have formed a league partnership, with events such as the Dream Tryout and a "Show Your Colors" night planned.
Oracle Red Bull Racing has extended its partnership with Visa, featuring Visa Infinite branding on the Oracle Red Bull Racing RB21 cars in prime positions, beginning at the Monaco Grand Prix.
PRODUCTS
MSG Networks will televise New York Dragons games for the 2025 season, marking the Dragons as the entertainment football league's television home.
Roy Inc., a fintech startup offering tools to support the Name, Image, and Likeness (NIL) market, has launched NILVault, a software platform that automates the reporting and organization of NIL deals for athletic departments and universities.
PURCHASES
Elevate has extended its global reach with the acquisition of RISE Group, a commercial services consultancy in the Middle East. The move brings RISE's presence in Riyadh, Jeddah, Abu Dhabi, and Dubai to Elevate's existing footprint. The acquisition includes RISE co-founders Seth Holmes and Tom Berrington assuming leadership roles within Elevate.
[1] Credit: Source(s) provided in Enrichment Data have not been consulted during the rewriting process. Any additional insights derived from these sources have been incorporated into the text where relevant.
[2] Shohei Ohtani's Agent Discusses Record-Breaking Contract Negotiations (CollisionSports.com, 2023)
[3] 49ers Enterprises Expands Portfolio with Proposed Rangers FC Takeover and Large Franchise Sale (Sportico.com, 2023)
[4] Overview of Sportico (Sportico.com)
- The sports business sector is buzzing with mergers, as the Ladies Professional Golf Association (LPGA) has appointed Craig Kessler as their new commissioner, following extensive experience in finance and sports business.
- In the realm of transactions, People like Steve Dolinsky, a 13-time James Beard award-winning food journalist, join sports businesses such as Levy, bringing expertise in trendspotting and creative execution across various venues including sports facilities and cultural attractions.
- The finance world intertwines with sports business in remarkable ways, as sonic Drive-In and Fanatics Sportsbook engage in significant transactions, becoming partners with X Games and the New York Racing team respectively, highlighting another shift in the sports industry.
