Lacrosse League Secures $100M Series E

Investment firm Ares Sports and sports team owner Joe Tsai led the $100M Series E to grow the eight-team league.

The massive investment aims to attract a new generation of fans before lacrosse joins the 2028 Los Angeles Olympics.

Funds will improve television broadcasts, secure commercial sponsors, and help launch a professional women’s lacrosse league.

Investors and existing European sports clubs offered at least $500M, with some bids exceeding $1B, to own teams across 12 target cities.

The US-based NBA and international basketball group FIBA will launch the 16-team league in October 2027 to tap into an undervalued market.

To attract investors, the NBA will cover all early financial losses until the new league becomes profitable and splits ownership equally.

Bridge Football Group, an investor owning lower-tier clubs in the Netherlands, Italy, and China, bought LAFC's 96% stake, a full US exit.

Grasshopper are Switzerland's record 27-time champions, yet under LAFC they finished near the bottom and barely avoided relegation three years running.

Years of fan protests and mounting losses drove LAFC out, letting it refocus its European efforts on Austrian club Wacker Innsbruck.

The global sportswear brand reported flat annual revenue of $46.4B and warned that upcoming sales will decline as consumers spend less money.

Quarterly profits of $1.1B easily beat expectations due to a tariff refund, but the company still faces a 12% sales drop in China.

CEO Elliott Hill asked for patience, promising that a massive internal restructuring will put better products on shelves and drive growth by 2027.

Advertising giant Omnicom will oversee the sportswear brand's media strategy, an account valued at roughly $512M.

The move shifts the lucrative contract away from rival advertising firm WPP, which managed the business since 2018.

Omnicom's agency PHD will lead the work, adding Adidas to a client roster that includes Google and Volkswagen.

The five-year, $8.43M agreement with a local Native American tribe marks the largest sponsorship deal in the university's athletic history.

Washington State is the first Pac-12 university to secure a jersey patch sponsorship since the NCAA recently allowed these brand placements.

Brokered by sports marketing agency Playfly, the partnership funds tribal youth clinics, basketball events, and a $250K donation to the athletic program.

The soccer tournament reached this record during a sold-out match between France and Sweden that drew over 80K fans.

The event averages more than 64K attendees per game, achieving a massive 99.7% stadium occupancy rate across 78 matches.

Fans continue to pack the stadiums in record numbers despite facing expensive ticket prices and extreme 90-degree summer heat.

The NBA set its team spending limit at $165M, requiring a minimum $148.5M payroll.

Teams exceeding the higher $200.4M tax limit will face financial penalties to help maintain fair league competition.

These new budget rules activate on Wednesday, immediately following the start of free agent contract negotiations.

European football authority UEFA fined Chelsea €3M because the club spent more of its revenue on player costs than financial rules permit.

This penalty is a significant drop from last year's €11M fine, proving the team is making steady progress toward balancing its budget.

Still, the club must drastically cut expenses or sell players before next season to avoid a strict ban from future international tournaments.

A conservative majority ruled that bans in Idaho and West Virginia do not violate the US Constitution.

The justices unanimously agreed these athletic bans do not violate Title IX, a federal law preventing sex discrimination in education.

This decision supports over two dozen similar state bans nationwide but leaves laws protecting transgender athletes in states like California unresolved.