• Loading stock data...
Wednesday, July 16, 2025

SPAC Party

DraftKings
Darren McCollester/Getty Images

Going public via a special purpose acquisition company seems to be in vogue for sports-related entities, but DraftKings CEO Jason Robins said not all companies are fit for the route. DraftKings went public through a SPAC merger in April and its shares have jumped nearly 90% since then.

DraftKings’ valuation has gone from $3 billion to $13 billion since April. Morgan Stanley recently downgraded both DraftKings and Penn National Gaming to hold following big growth spurts this year.

SPACs in general are up 145% from a year ago. Allied Esports went public in 2019 through a SPAC and this summer it was reported both TopGolf and Rush Street Interactive are looking to go public through SPAC mergers. Last month, RedBird Capital launched a $500 million sports-focused SPAC — Oakland A’s executive Billy Beane joined — which is looking to target acquisitions in sports, media and data analytics.

Notable Earnings Reports This Week

9/1 – Wanda Sports Group, Shoe Carnival

9/2 – Sportsman Warehouse Holdings

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Mar 31, 2025; Washington, District of Columbia, USA; Miami Heat guard Terry Rozier (2) drives to the basket against Washington Wizards guard AJ Johnson (5) during the first quarter at Capital One Arena.

Terry Rozier’s Attorney Confirms He’s Still Under Federal Gambling Probe

Rozier finished the season playing for the Heat despite the federal probe.
DraftKings
exclusive

DraftKings in Talks to Acquire Prediction Market Railbird Exchange

Sportsbooks and prediction markets are becoming increasingly intertwined.

Featured Today

2025 PDC World Darts Championship Final - Luke Littler vs Michael Van Gerwen

A Teen Darts Prodigy Is Becoming Bigger Than the Game Itself

Luke ‘The Nuke’ Littler is cashing in on his devastatingly accurate shot.
May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive
July 13, 2025

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
patrick_mahomes

Super Bowl TV Viewership Sinks 8%

CBS Sports’ telecast of the Tampa Bay Buccaneers’ 31-9 victory over the Kansas City Chiefs averaged 91.629 million viewers, down 8%.
person_playing_cricket
December 23, 2020

Prominent Tech Execs Line Up to Back Cricket Growth In the U.S.

More than 20 investors have now bought into American Cricket Enterprise, parent company oMajor League Cricket.
man_riding_stationary_bike
December 28, 2020

Connected Fitness Company Echelon Lands $65 Million Investment

The funding came from Goldman Sachs and North Castle Partners, who now own controlling interests in the company.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
woman_holding_hockey_stick
December 23, 2020

NBC to Air NWHL Finals, Adds to Banner Year for Women’s Sports

It will be the first time professional women’s hockey games are shown live on a major national cable network in the U.S.
antetokounmpo_dribbling_basketball
December 23, 2020

‘Giannis Effect’ Felt by Bucks Following Record-Breaking Extension

Since he was drafted in 2013, the Bucks’ valuation has jumped from No. 30 in the league at $312 million to No. 19 at $1.58 billion.
December 22, 2020

Adam Silver Says NBA Expansion is ‘Manifest Destiny of the League’

“It’s sort of the manifest destiny of the league that you expand at some point,” NBA Commissioner Adam Silver said Monday.
December 22, 2020

Adidas Partners With Jerry Lorenzo, Fear of God Brand

Lorenzo will lead creative and business strategy for Adidas basketball globally, and launch a Fear of God athletics sub-brand.