Betting App Underdog Sells For $1.3B

London-based financial firm IG Group will pay at least $1.1B, plus up to $850M in employee bonuses for hitting high earnings goals.

The deal gives IG Group entry into the prediction market space, which allows nationwide betting by bypassing individual state gambling laws.

The rapidly growing app recently became profitable, producing $59.6M in earnings while reaching over 950K monthly active users.

The new mixed martial arts business will operate under the brand of MVP, a sports promotion firm led by influencer Jake Paul.

This merger combines MVP with PFL, an established fighting league, to create a larger platform intended to challenge the dominant UFC.

Founders aim to disrupt the industry's traditional business model by offering athletes fairer pay and a modernized stage to become global stars.

World soccer governing body FIFA proposed selling a 21% stake in its events to private investors to raise $4.2B for its member groups.

European soccer group UEFA and North American group Concacaf rejected the idea, with UEFA threatening a total boycott if it proceeds.

The massive backlash has caused member groups to lose confidence in FIFA President Gianni Infantino ahead of his upcoming re-election bid.

The National Women's Soccer League terminated its contract with streaming service Victory+ because the platform failed to make its required payments.

The 57 affected matches will now stream on the league's own free app, maintaining accessibility within its broader $240M media strategy.

The financially struggling streaming service recently lost similar partnerships with major baseball and hockey teams after failing to secure new funding.

The NBA team will move its local games to DAZN, a global sports streaming platform, after its previous broadcast partner collapsed.

Fans must use the app to watch matchups since they will no longer be available on traditional cable or satellite television.

While exact monthly subscription costs remain unannounced, the franchise will offer 15 local games for free to ease the transition.

Larry Berg, co-owner of a Los Angeles soccer franchise valued over $1B, is the favorite against former Fox media executive David Nathanson.

The winner needs a two-thirds majority vote to replace Don Garber, who has led the growing soccer league since 1999.

To avoid conflicts, the selected candidate must sell their team investments before officially taking over as commissioner after the 2026 season.

The National Women’s Soccer League, America's top female soccer tier, will launch its 2027 season on February 11 to mark its earliest start ever.

This schedule shift creates a two-month summer pause so players can compete in the 2027 Women's World Cup without missing standard league games.

The winter kickoff introduces logistical hurdles for clubs, including freezing weather conditions and scheduling conflicts with shared men's professional soccer stadiums.

The professional basketball league canceled its Abu Dhabi preseason events for the first time in five years due to the ongoing U.S.-Iran war.

Abu Dhabi's tourism department remains a major NBA business partner, hoping to eventually host 22.5K fans at a new regional high-tech arena.

With no timeline for a Middle East return, the league will instead play international exhibition games in Paris, Mexico City, and Manchester.

Police arrested Romo, a prominent CBS television sports analyst, after he failed field sobriety tests on July 23.

Authorities stopped his vehicle for illegally passing highway traffic on the shoulder and discovered an open alcohol bottle inside.

He received three citations carrying over $1.5K in total fines and has a court hearing scheduled for September.