2026-08-06
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Finance & Investments
Golf league LIV approved a mystery backer's term sheet to replace the Saudi Public Investment Fund, which recently withdrew its financial support.
London-based private equity firm BC Partners is reportedly considering a loan to keep the golf tour operating through the 2030 season.
The revamped league will feature 10 global events and make players majority owners, allowing them to freely compete on rival golf tours.
Super Group, the parent company of global sportsbook Betway, achieved a $123M profit compared to last year's $3M loss, validating its US market exit.
Total revenue jumped 18% to $684M, fueled by steady international casino play and a massive spike in sports wagers during the FIFA World Cup.
Monthly active players grew 13% to 6.2M, giving the business a highly profitable user base to monetize across international sports and casino platforms.
Top YouTube star MrBeast recently hit 500M subscribers and is expanding his online channel into a massive company selling toys and financial apps.
To capture surging ad dollars, internet personalities are adopting corporate structures by hiring chief executives and securing institutional investor funding.
Meanwhile, traditional media companies like Hearst and Business Insider are replacing key executives and restructuring operations to survive this industry shift.
The golf equipment maker reported second-quarter revenue of $612.2M, beating expectations and prompting a raised full-year sales forecast of over $2B.
Growth was driven by a 15% jump in golf ball revenues, helping the brand capture a record 23% share of the US market.
To boost profitability, the business will close four underperforming retail stores and reward investors through an ongoing $200M stock buyback program.
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Media, Broadcasting & Sponsorships
The media giant secured deals with 58 brands, marking the earliest a network has ever sold all ad spots for the big game.
While Disney hid exact prices, industry experts estimate a 30-second commercial cost between $8.5M and $9M due to soaring advertiser demand.
This early sellout guarantees massive revenue, with Disney expected to beat competitor NBC’s previous $920M sales record for the highly viewed sporting event.
The Braves, the only publicly traded baseball team, saw second-quarter media earnings fall to $72.85M, representing a 10% drop from last year.
This decline follows the bankruptcy of their former broadcaster, regional channel FanDuel Sports Network, which forced the team to launch its own network.
The team blames the drop on payment delays from their new network, highlighting broader industry struggles to replace lost cable television revenue.
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Teams & Leagues
Canadian investment giant Brookfield bought the remaining 26% of US fund Oaktree, reportedly for $3B, valuing Oaktree at about $11.5B.
Oaktree has owned Inter Milan since May 2024, seizing the club after previous Chinese owners Suning failed to repay a loan.
Reports suggest Brookfield and Oaktree may now sell Inter, the reigning Serie A champions, whose finances have recovered sharply since the pandemic.
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Miscellaneous
FIFA President Gianni Infantino faced massive backlash after attempting to sell stakes in global soccer tournaments to private investors.
Despite the failed proposal, top executives at the soccer governing body backed his continued leadership during a recent crisis meeting.
The president still faces intense pressure to resign from regional soccer organizations ahead of a leadership election next March.
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