• Loading stock data...
Thursday, September 18, 2025

Chernin Group Raises $1B, Adds New Partners

TCG/Design: Alex Brooks

The Chernin Group is living large after its third round of funding. 

The investment firm is raising $1 billion in its latest round, according to Axios. The report also included news of three new partners.

In February, TCG led a $40 million growth capital round in Goldin Auctions — a collectible and trading card marketplace — with a group including Mark Cuban, Kevin Durant, and Dwyane Wade.

TCG has a track record of investing in sports content, commerce, and consumer tech. 

  • Bought a 51% stake in Barstool Sports in 2016. Penn National announced it would buy a 36% stake in Barstool last year for $163 million.
  • Partnered with Barstool Sports’ CEO Erika Nardini in March to form a SPAC with a $250 million funding goal for “internet businesses” including companies in sports and gaming and wellness.
  • Formed The Action Network in October 2017. Last month, Better Collective announced it would purchase the network for $240 million.
  • Was part of the $4.6 million venture capital funding round in Stadium Goods with Forerunner Ventures and Mark Cuban.

TCG’s new partners include Maureen Sullivan, former president and COO of Heyday, who’ll concentrate on female-focused businesses; Luke Beatty, former CEO of Brandfolder, for outdoor space; and Jarrod Dicker, a former Washington Post VP, who will work on blockchain and crypto.

“We are totally focused on growth stage right now,” said TCG’s Mike Kerns. “You won’t see us doing more early-stage (investments) from our growth funds.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Trump Push to End Quarterly Earnings Has Major Sports Ramifications

U.S. President Trump proposes moving to semi-annual reporting for public companies.

Sling TV’s Day Passes Spark Another Sports-Centric Legal Battle

The disruptive programming options generate a second lawsuit in as many weeks.
Aug 23, 2025; New Orleans, Louisiana, USA; Detailed view of the Denver Broncos helmet against the New Orleans Saints during warmups at Caesars Superdome.

Broncos Eye 2031 Opening for New Multibillion-Dollar Stadium

The NFL team plans a new venue and mixed-use development.
April 27, 2025; Anfield, Liverpool, BRITAIN; Liverpool player Mohamed Salah scores the fourth goal against the Tottenham Hotspur in a Premier League match.

Tottenham Hotspur ‘Not for Sale’ Amid Takeover Interest

Two groups made offers in just the last week.

Featured Today

Premier Lacrosse League

‘The Circus Is Coming to Town’: Why Upstart Leagues Start on Tour

In their ambitious plans, a traveling schedule is only temporary.
PHILADELPHIA, PENNSYLVANIA - APRIL 19: A detailed view of the MLB Debut patch on the jersey of Patrick Monteverde #44 of the Miami Marlins prior to game against the Philadelphia Phillies at Citizens Bank Park on April 19, 2025 in Philadelphia, Pennsylvania.
September 13, 2025

The Tiny Jersey Patch at the Center of the MLB Rookie Card..

Autographed cards containing a piece of baseball history have upended the market.
September 11, 2025

Eagles-Chiefs Super Bowl Rematch Could Set More NFL Ratings Records

Fox will nationally televise Sunday afternoon’s matchup.
September 10, 2025

ESPN’s ‘MNF’ Ratings Up 8% As NFL Surges to Strong Start

ESPN posts its second-best Week 1 “Monday Night Football” audience.

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
June 24, 2025

Timberwolves’ 4-Year Ownership Saga Ends As A-Rod, Lore Take Over

The unanimous approval brought a clean end to a long-disputed transaction.
Apr 26, 2025; San Francisco, California, USA; Houston Rockets guard Fred VanVleet (5) before game three of first round for the 2024 NBA Playoffs against the Golden State Warriors at Chase Center.
June 25, 2025

Rockets Get $20 Million in Wiggle Room From New VanVleet Deal

VanVleet first signed with the Rockets in 2023.
Sponsored

How World Series Champ Dexter Fowler Became a Premier League Team Owner

Dexter Fowler discusses navigating retirement and embracing new roles as an owner & investor.
April 20, 2025

Max Verstappen Linked to $300M Aston Martin Deal Ahead of Miami GP

Aston Martin is currently seventh in the constructors championship.
March 27, 2025

Peyton Manning’s Omaha Productions Gets PE Boost

The Hall of Famer’s company gains another prominent backer.
March 20, 2025

High School Sports Power Signs Eight-Figure Rights Deal in First

The deal pays roughly $1 million annually, FOS has learned.
March 20, 2025

Maxx Crosby’s Agent: Edge Rushers Set to Dominate NFL’s Non-QB Market

Maxx Crosby just signed a three-year, $106.5 million extension.