Gyms are open again, and the United Kingdom’s largest chain is ready to expand with help from the public market.

PureGym — with more than 1 million members registered — is considering an IPO: A listing on the London Stock Exchange could come as soon as this year.

All of its 506 gyms, spread across the U.K., Switzerland, and Denmark, are now open. The company opened 15 new locations in the first half of 2021 and wants to accelerate expansion next year, particularly in the U.K. and Switzerland.

• PureGym was bought by California-based private equity firm Leonard Green & Partners in a deal valuing it at $823 million in 2017. The firm boosted the gym chain with a $137 million cash injection in Sept. 2020, alongside a $68.5 million increase in PureGym’s credit facility.
• The company told investors that it lost $126.2 million in the first half of this year. It carried $1.1 billion in net debt at the end of Q2.
• However, it had a profitable second quarter, with an adjusted EBITDA of $22 million. June revenues were up 99% from those of June 2019, as a slightly reduced membership was offset by price increases.

PureGym had planned to raise $260.6 million through an IPO in 2016 but scuttled those plans due to insufficient investor demand.

Now the company sees a strong market for its affordable gyms, noting the market can “support growth in these conditions as consumers consider cost-conscious alternatives.”

Former UFC executive Nakisa Bidarian and Jake Paul’s Anti Fund are leading a $30 million financing round in micro betting company Simplebet.

The raise brings Simplebet’s total funding to $80 million. Previous investors include Australian gambling machine manufacturer Aristocrat and tennis star Andre Agassi.

Simplebet offers in-game wagers for the NFL, NBA, MLB, and college football — with plans to add more.

• The company announced a multiyear deal with DraftKings on Tuesday.
• It also named MGM Resorts International head Jim Murren to its board of directors this week. 

Anti Fund launched in March and uses AngelList’s Rolling Funds platform rather than a pool of capital. Paul says the venture plans to invest “around $10 million to $20 million a year.”

The Simplebet investment is Anti Fund’s biggest yet. Paul previously cofounded TGZ Capital, a small venture fund that participated in financing rounds for 15 startups.

On Sunday, Paul will look to improve on his 3-0 record — all knockouts — by fighting mixed-martial artist and former UFC welterweight champion Tyron Woodley.

Editor’s note: DraftKings is an FOS partner.

Los Angeles Chargers controlling owner Dean Spanos has already earned one victory this summer by getting his legal dispute with his sister, Dea Spanos Berberian, moved out of Los Angeles.

Spanos will win again if the National Football League successfully maneuvers to push the case outside a courtroom altogether. 

The NFL has held off intervening in the matter so far, although court documents show that the league backs Dean Spanos’ request to transfer the matter to arbitration as soon as Sept. 9.

An attorney representing the NFL wrote in a May filing that the NFL Constitution’s arbitration provision “requires that certain disputes pertaining to the ownership of an interest in a NFL member club be submitted to arbitration.”

The Athletic was the first outlet to report on the NFL’s intentions. 

• In April, Berberian filed a petition in Los Angeles County in a bid to force a sale of the franchise, naming Amazon founder Jeff Bezos as a possible candidate to purchase the team. 
• The case was transferred to San Joaquin County, the Central Valley home of Dean Spanos, on Aug. 19. 
• Berberian alleges that a sale of the franchise is necessary to pay off more than $353 million in debt, something his brother’s attorneys claim is not the case. 

Berberian, Spanos, and two of their siblings each hold 15% of the team, with the rest (36%) in a family trust. 

The Chargers moved from San Diego to L.A. in 2017, paying a $650 million relocation fee and leaving behind a fanbase it had developed for more than 56 years.