Two of the biggest private equity names in sports are coming together: Blue Owl is close to buying a stake in CVC Capital Partners.

The deal for a roughly 10% stake values CVC at around $15 billion, per Bloomberg. 

Blue Owl was formed in May through a SPAC merger that brought together Owl Rock and Dyal Capital Partners. The companies collectively had $52.5 billion in assets under management as of March 31. 

Blue Owl and CVC have been among the most aggressive private equity firms investing in sports.

• Dyal, which has a deal with the NBA allowing it to purchase minority stakes in multiple teams, owns a stake in the Phoenix Suns through its Dyal HomeCourt fund. It was recently in talks to buy a stake in the Sacramento Kings. 
• CVC recently secured a 10% stake in La Liga’s core revenue-generating properties for $3.2 billion. CVC also has investments in the United Rugby Championship, Six Nations Rugby, and International Volleyball Federation.
• Blue Owl owns a stake in Silver Lake, which has investments in Manchester City owner City Football Group, Madison Square Garden, and Endeavor. Silver Lake is seeking player approval on an investment in New Zealand rugby club All Blacks.

The potential stake sale to Blue Owl could preview another big move. According to Bloomberg, CVC may be preparing to go public through an IPO.

Caesars Entertainment is spicing up the Fiesta Bowl with betting opportunities — the first such collaboration between a sportsbook and a college bowl game.

The company will provide gambling and fantasy gaming opportunities related to the contest. It will also operate fan lounges at the Fiesta Bowl at State Farm Stadium and the Guaranteed Rate Bowl at Chase Field.

Caesars is investing heavily in sports in Arizona and beyond. 

• In April, the company completed its $4 billion acquisition of sportsbook operator William Hill.
• Caesars became the Arizona Diamondbacks’ betting partner in May, shortly after becoming an MLB-authorized gambling partner.
• In July, Caesars acquired naming rights to the Superdome, home of the New Orleans Saints, in a 20-year, $138 million deal.

While the NCAA has historically been opposed to sports betting, the practice is making its way into college sports.

In September 2020, PointsBet struck a five-year, $1.6 million sponsorship deal with the University of Colorado. The Arizona Bowl made Barstool Sports, which operates a sportsbook, its title sponsor in July.

Sports betting in Arizona is set to begin on Sept. 9. The Arizona Cardinals will be the first NFL team to have a sportsbook in its home stadium after striking a deal with BetMGM earlier this month.

The Big Ten, ACC, and Pac-12 conferences are expected to formally announce an alliance in the next week, according to a report by ESPN. 

Last month, the three NCAA conferences began discussing an alliance that would coordinate scheduling, approaches to NCAA governance, and possibly playoff alignment. 

The potential decision to align the three Power 5 conferences follows the SEC bolstering its roster by adding Texas and Oklahoma, which will join from the Big 12 in 2025. 

Commissioners from the Pac-12, ACC, and Big Ten want to consolidate power and compete with the SEC’s dominance as it becomes a 16-team conference.  

• Next month, the three conferences and the SEC will meet to discuss an expanded College Football Playoff. 
• ESPN currently holds the media rights for the tournament on a $5.6 billion deal that runs from 2014 to 2025.  

For now, the Big 12 has yet to be invited to the party. 

The conference, which will dwindle to eight schools when Texas and Oklahoma depart, could still seek expansion or an alliance with another conference. 

The Big 12 and Pac-12 previously held exploratory discussions regarding a strategic partnership.

AMB Sports and Entertainment — parent company of the Atlanta Falcons, Atlanta United, PGA Tour Superstore, and Mercedes-Benz Stadium — is aiming to strengthen its existing properties by launching a venture fund.

The uncapped fund, AMBSE Ventures, is backed by Falcons owner Arthur Blank and adds to a string of other ventures from sports entities.

• The Los Angeles Dodgers’ ownership group created Elysian Park Ventures in 2014. It recently participated in a $15 million Series B funding round for LeagueApps.
• Courtside Ventures was started in 2016, partly backed by Cleveland Cavaliers owner Dan Gilbert. In July, the fund was included in a $13 million round for sports card marketplace Dibbs.
• The Green Bay Packers partnered with Microsoft to fund early stage companies through TitletownTech in 2019. The venture recently helped lead a $5.2 million round for StatusPRO.

AMB Sports and Entertainment CEO Steve Cannon told the Atlanta Journal-Constitution that Blank is ready to make “multimillion dollars’ worth of investment into smart business models.” 

“If and when Georgia becomes a legalized sports betting state, there will certainly be technologies we look at there,” he said.

AMBSE Ventures will take an equity position in the companies and expects to initiate multiple investments within the next year.