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READ IN BROWSER
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Sydney Sweeney appeared in a racy ad for sports-focused prediction market Novig that was released ahead of Wednesday night’s NFL season opener. Novig CEO Jacob Fortinsky told Front Office Sports the movie star is an equity holder in the company, and although Kalshi and Polymarket have a head start on brand recognition, the Sweeney spot “forces us into the national discourse.”
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—Ben Horney and Dan Roberts
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DEAL FLOW
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Guardians Ownership
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USA TODAY Network via Reuters Connect
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Browns cornerback Denzel Ward has purchased a minority stake in the Guardians. Ward, a five-time Pro Bowler, played college football at Ohio State. His investment comes a few months after NFL star Travis Kelce acquired a minority stake in the team. Front Office Sports previously confirmed in March that David Blitzer, who currently owns a 35% stake in the Cleveland MLB team, has the option to become majority owner after the 2027 season.
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Trae Young is investing in frozen fruit pop maker Hundy! The company, which earlier this year appeared on Shark Tank, says its sales are up 347% year-over-year. It touts using 100% organic whole fruit “and nothing else.” Young, who in January was traded from the Hawks to the Wizards, is also invested in the three-on-three women’s basketball league Unrivaled and sports media company Overtime.
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Robinhood is taking equity stakes in Crypto.com and its prediction-market business OG as part of a “multi-year partnership” under which Robinhood will offer OG’s event contracts on its platform. The deal comes as Crypto.com was valued at $20 billion after receiving a $400 million investment from Citadel Securities in July. The press release announcing the Robinhood deal pegs OG’s standalone valuation at $5 billion.
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Private equity firm L Catterton is leading a group that has agreed to buy Hyrox, which puts on extreme fitness competitions. The two Hyrox founders, Christian Toetzke and Moritz Fürste, and an investment firm called WndrCo, are also part of the buying group. The seller is Swiss marketing company Infront Sports & Media, which falls under the umbrella of Chinese conglomerate Dalian Wanda Group. Rumors of a Hyrox sale date back to June.
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