Texas Rangers Baseball Club Acquisition & Valuation

Suning Sports is the sports arm of Chinese retail and property conglomerate Suning Holdings Group, headquartered in Nanjing, Jiangsu, and incorporated as Jiangsu Suning Sports Industry Co., a joint venture of Suning Holdings, which owned 90% at the end of 2016, and Suning Appliance Group. It built a business spanning sports media, over-the-top streaming, sports retail and youth training. Its digital platform PP Sports bought Chinese broadcast rights to major football competitions, including the Premier League, La Liga, Serie A, Ligue 1, the Chinese Super League and, from 2018-19, exclusive television and online rights to the Bundesliga for five seasons, along with AFC competitions and WWE, earning revenue from subscriptions and advertising. It opened its first flagship fan store in Nanjing in 2017, planning 152 stores by 2020, and developed grassroots training programmes. Through its Hong Kong subsidiary Suning Sports International, it sits above Great Horizon, the vehicle through which Suning bought a majority stake in Inter Milan in 2016, and the group also owned Chinese Super League club Jiangsu Suning. In July 2018 Suning Sports raised a $600 million Series A led by Goldman Sachs and Alibaba, with Evergrande, Yunfeng Capital, SenseTime, CCB International and others, valuing it at about $2.6 billion. Under financial strain, Suning halted operations at its Chinese football clubs, including champions Jiangsu, in February 2021.

Inter Miami CF (Club Internacional de Fútbol Miami) is an American professional soccer club based in Miami that plays in Major League Soccer's Eastern Conference. MLS awarded the franchise on January 29, 2018, to Miami Beckham United, a group of David Beckham, Marcelo Claure, Simon Fuller, Masayoshi Son and brothers Jorge and José Mas of MasTec; the club began play in 2020, and in 2021 the Mas brothers bought out Claure and Son to take majority control, with Jorge Mas as managing owner. It played at DRV PNK Stadium, later Chase Stadium, in Fort Lauderdale until April 2026, when it moved to the 25,000-seat Nu Stadium at the Miami Freedom Park development, named after sponsor Nubank. Lionel Messi's arrival in 2023 transformed the club, which won the Leagues Cup in 2023, the Supporters' Shield in 2024, MLS Cup in 2025 and the Campeones Cup in 2026. It earns revenue from ticketing, sponsorship, merchandise and media; Forbes put 2025 revenue at roughly $200 million, up from $56 million in 2022, and Sportico valued the club at $1.45 billion in early 2026, a record for an MLS franchise. It also runs a youth academy and the reserve team Inter Miami CF II.

Unrivaled is an American professional women's three-on-three basketball league based in Miami, Florida. WNBA stars Napheesa Collier and Breanna Stewart founded it in 2023 to give top players a domestic off-season league; players earn a minimum six-figure salary and share an equity pool, and the salary pool for the 2025 season was $8 million. The first season, with six clubs and 36 players, opened in January 2025 in Medley, near Miami; the 2026 season expanded to eight clubs and 54 players and took games on the road, drawing a record 21,490 fans in Philadelphia and a sell-out at Barclays Center in Brooklyn. Games use a 72-foot court, an 18-second shot clock and a target-score fourth period, and air on TNT, truTV and HBO Max. The league earns revenue from media rights, sponsorships such as Ally Financial and Under Armour, ticketing and merchandise. After raising more than $35 million in seed and Series A funding in 2024, it was valued at $340 million after a Series B led by Bessemer Venture Partners in September 2025, and in August 2026 closed an oversubscribed Series C of more than $100 million, led by Ten Pillars Sports Fund, at a $650 million valuation.

LiveScore Group is a British sports media and betting group based in London whose brands include LiveScore, the real-time football and sports scores service, and the sportsbooks LiveScore Bet and Virgin Bet. The LiveScore app and website deliver live scores, news, statistics and free-to-air live streams to millions of users worldwide, and the group uses that consumer traffic to acquire customers for its betting brands. It earns revenue from advertising and media partnerships on LiveScore and, above all, from sports betting and gaming through LiveScore Bet and Virgin Bet; annual revenue was about £100 million in 2022. The group grew rapidly in the three years to 2022 under chief executive Sam Sadi. In September 2022 Swiss media group Ringier made a £50 million strategic investment that valued the business at £500 million. The partnership, run through Ringier Sports Media Group, focused on expanding LiveScore in Central and Eastern Europe, where Ringier owns Sportal Media Group and Digital Ventures in Bulgaria, Gazeta Sporturilor in Romania and Sportal.rs in Serbia.

Ollamani SAB is a holding company that operates through its subsidiaries in various businesses, including the Football Business, which is the Company that owns Club America, a professional soccer team with championships in Mexico and considered one of the popular teams. Estadio Azteca is the company that owns and operates the Estadio Azteca. Games and Sweepstakes Business under the PlayCity brand, the company operates eighteen casinos in Mexico with food and beverage service, as well as a website in the one that offers sports betting and casino betting. The Company's operations are classified into three segments: Football Segment, Gaming Segment, and Publishers and Distributors Segment.

Overtime is an American sports media company that started as a Brooklyn start-up and is aimed at Generation Z fans, which distributes original sports content on social platforms such as YouTube, Snapchat and Facebook and sells branded apparel. It was founded in late 2016 by Dan Porter and Zack Weiner and began with short-form videos of high school athletes filmed on iPhones, helping build the profiles of future NBA stars such as Zion Williamson and Trae Young, before adding longer documentaries through OT Films. The company has since become a league operator: it launched Overtime Elite, a professional basketball league for 16- to 19-year-olds who receive salaries and equity, in 2021, the seven-on-seven football league OT7 in 2022 and Overtime Boxing (OTX) in 2023. It earns money from advertising and brand partnerships, such as its adidas apparel deal and NFL content partnership of 2023, as well as media rights, events and merchandise. Overtime raised a $2.5 million seed round in 2017, $9.5 million led by Andreessen Horowitz in 2018, $23 million in 2019, an $80 million Series C in April 2021 with backers including Jeff Bezos and Drake, and a $100 million Series D in August 2022 with Liberty Media. Co-founder Dan Porter left the company in March 2026.

Juventus Football Club is an Italian professional football club based in Turin, founded in 1897, that plays in Serie A and is listed on Euronext Milan. It is controlled by the Agnelli family through Exor, which holds 65.4% of the share capital. Tether, the stablecoin issuer, became the second shareholder in 2025 with a holding of more than 10%. Revenues and income for the 2024/25 financial year were EUR 529.6 million, up 34.2% from the previous year, and revenues fell to EUR 474.7 million in 2025/26. The group's income comes from matchday, broadcasting rights, sponsorship and commercial activities, and player trading. Its share capital is EUR 16,731,359.80. A capital increase of up to EUR 250 million was proposed to shareholders in autumn 2026.

Pickleball Inc. is an American professional pickleball company that owns the Carvana PPA Tour and Major League Pickleball, the sport's two leading professional competitions. It was formed in 2026 by combining the two tours with the retailer Pickleball Central, the tournament-software platform PickleballTournaments.com, the consumer portal Pickleball.com, the court builder Just Courts and the channel Pickleball TV. The business earns revenue from media rights, sponsorship, events, retail sales and software, and on a combined basis its units generated more than $140 million of revenue in 2025. It has more than 150 signed professional players and more than $33 million of combined annual prize money, its platforms hosted 4,500 tournaments and 2,000 league seasons in 2025, and a PPA Tour broadcast on CBS in January 2026 averaged 791,000 viewers. On 1 May 2026 Apollo Sports Capital, an investment platform of Apollo Global Management, led a $225 million structured investment in the company. Tom Dundon and the Pardoe family remain the majority shareholders, and PPA Tour founder Connor Pardoe is chief executive.

Cannae Holdings is an American holding company and principal investor headquartered in Las Vegas, Nevada, and listed on the New York Stock Exchange under the ticker CNNE. William P. Foley II is its vice chairman and Ryan Caswell its chief executive. It takes minority and majority stakes in restaurants, technology-enabled services, financial services and, increasingly, sports and entertainment. Its main holdings include about 42% of Black Knight Football Club, which owns AFC Bournemouth, FC Lorient and a majority of Moreirense, and a 50% stake in the activist hedge fund manager JANA Partners. It also owns a restaurant group made up of 88.5% of Ninety Nine Restaurant & Pub and 65.4% of O'Charley's, along with interests in the flavourings maker Watkins (acquired in 2024) and Alight. In 2025 it sold its Dun & Bradstreet stake to Clearlake Capital for total proceeds of US$630 million and bought back US$323 million of its own stock. Its board has since said it will concentrate the portfolio on sports and entertainment, and in June 2026 its Black Knight Rugby subsidiary acquired English rugby club Exeter Chiefs. It earns returns from equity-accounted investments and consolidated operating revenue, and has about 6,600 employees.

Borussia Dortmund GmbH & Co KGaA operates a football club. The company conducts its business through the following segments: Borussia Dortmund GmbH & Co. KGaA operates a football club that includes a professional football squad and leverages revenue potential from player transfers, catering, TV marketing, sponsorship, and ticketing. The BVB Merchandising segment consists of a separate merchandising business. The BVB Event and Catering GmbH segment conducts tours, provides and arranges event staffing services, plans and organizes, caters, and manages events of all types. The Besttravel Dortmund GmbH segment arranges travel by air, rail, and ship. The company earns the majority of its revenues from the Borussia Dortmund GmbH & Co. KGaA segment.