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Family offices invest in sports from pickleball to smart soccer balls

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Apollo Sports Capital, Tom Dundon make $225M pickleball investment

Ben Johns comes over to the right side to hit a dink shot against Anna Bright and Hayden Patriquine in the 2026 PPA Carvana Mesa Cup finals match of the Pro Mixed Doubles Division at Arizona Athletic Grounds on February 22, 2026 in Mesa, Arizona.

Bruce Yeung | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.

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Last month, investment firms of the ultra wealthy went all-in on sports and played on multiple fronts.

At the beginning of May, billionaire Tom Dundon’s namesake family office partnered with Apollo’s new sports fund to invest $225 million in Pickleball Inc., the parent company of Major League Pickleball and the PPA Tour. Dundon is already an owner of the Portland Trail Blazers NBA team and the NHL’s Carolina Hurricanes.

As for the major leagues, Michael Dell, as part of an investor group led by Silver Lake’s Egon Durban, bought a 25% stake in the Las Vegas Raiders football team. Dell is also a minority investor in the NBA’s San Antonio Spurs and the Austin Gamblers, a professional bull riding team.

Family offices made 51 direct investments in companies in May, holding steady from April’s deal tally, according to data provided exclusively to CNBC by Fintrx, a private wealth intelligence platform.

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A Goldman Sachs survey released last fall found that 25% of family offices have invested in sports or related assets like ticketing or arenas and another quarter are interested in doing so. Asides from love of the game, many investors are drawn to the sector as an inflation hedge.

Student housing mogul David Adelman has used his family office to extend his reach into the sports economy. Adelman is a part-owner of the NBA’s Philadelphia 76ers, English Premier League club Crystal Palace and the New Jersey Devils ice hockey team and an investor in sports merchandise giant Fanatics.

In May, his investment firm Darco Capital co-led a $12 million Series A round for PlayerData along with David Blitzer’s family office Bolt Ventures and venture capital firm Pentland Ventures. The UK startup makes GPS-enabled vests and soccer balls that help athletes track their performance.

Adelman told CNBC that some teams in his portfolio use PlayerData products. Crystal Palace, for instance, uses the vests and smart soccer balls in training its academy players. The technology’s application for athletes at all levels, including youth sports, was part of the startup’s draw, according to Adelman.

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“What stood out to me was the ability to take something complex and make it simple, practical, and accessible,” Adelman said.

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Bali Ha'i boss claims lieutenant lived high life

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Bali Ha'i boss claims lieutenant lived high life

The Australian skipper of Bali Ha’i Cruises claims his former lieutenant lived the high life in London while on an alleged $670,000-plus stealing spree.

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Oil prices rebound by more than $2 a barrel on prospect of tightening US crude supplies

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Oil prices rebound by more than $2 a barrel on prospect of tightening US crude supplies
Oil prices rose by more than $2 a barrel in early trade on Wednesday on shrinking U.S. crude inventories, recouping some of the previous session’s losses caused by a pause in fighting between Washington and Tehran.

Brent futures increased by $2.71, or 3.2%, to $86.80 a barrel at 0002 GMT, while U.S. West Texas Intermediate (WTI) ‌crude rose $2.26, ⁠or 3.4%, ⁠to $81.95.

U.S. crude inventories fell by about 3.3 million barrels in the week ended July 24 ,market sources said on Tuesday, citing data from the American Petroleum Institute.

Gasoline inventories, meanwhile, grew by 918,000 barrels, while distillate inventories climbed 355,000 barrels compared with a week earlier, the sources said.

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Official inventory data from the Energy Information Administration is due later on Wednesday.


Further supporting prices, OPEC+ will ⁠likely halt ‌oil output increases for three months starting in October, sources told Reuters, after the producer group completes the scheduled return of ⁠barrels following voluntary cuts.
Oil prices have whipsawed on the U.S.-Israeli war in Iran, which has disrupted global flows of crude oil, particularly with the effective closure of the Strait of Hormuz. Prices plunged by about 5% on Tuesday to a two-week low on hopes that efforts to end the U.S.-Iran conflict would resume in earnest after a pause in hostilities.

U.S. President Donald Trump, who called off a two-week ‌U.S. bombing campaign over the weekend, told .Fox News on Tuesday that there were “good talks” with Iran, but threatened more strikes if negotiations break down. Iran, however, has ⁠denied that it is seeking to resume talks with the U.S.

Meanwhile, a Gulf source and a Western diplomat told Reuters that Oman has presented Iran with a plan to manage the strait, which would include collecting voluntary fees for using the passageway.

The proposals, backed by Gulf states, aim to serve as a basis to end the disruption to trade through the strait caused by the war.

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Council limits fence height for Goyders’ $17m Peppermint Grove house

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Council limits fence height for Goyders’ $17m Peppermint Grove house

Mining executive Tim Goyder’s plan to fence off his $17 million Peppermint Grove home has sparked a discussion on security at a western suburbs council.

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Costco $14M settlement: Washington shoppers may receive up to $500

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Costco Tillamook cheese bargain makes membership worthwhile for shoppers: report

Costco shoppers in Washington may be eligible to receive a cash payout after the retailer agreed to settle a class action lawsuit accusing the retailer of sending misleading promotional emails advertising limited-time offers.

The lawsuit alleges Costco violated Washington’s Commercial Electronic Mail Act (CEMA), which regulates commercial email marketing.  

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Under CEMA, recipients may recover up to $500 per qualifying email. However, the actual payout from the settlement is currently unknown and will depend on the number of valid claims submitted. 

While denying any wrongdoing, Costco agreed to pay $14 million to settle the lawsuit, Aaland v. Costco Wholesale Corp.

COSTCO HIT WITH LAWSUIT ALLEGING PROTEIN POWDER SOLD IN STORES CONTAINS ‘DANGEROUS’ LEVELS OF LEAD, ARSENIC

Costco

People arrive and depart at a Costco Wholesale store on June 13, 2026, in Bayonne, New Jersey.  (Gary Hershorn/Getty Images / Getty Images)

Washington residents whose email addresses are in Costco’s records and who received the promotional emails between June 2021 and July 2026 may be eligible to file a claim. 

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To receive a share of the settlement, eligible class members must submit a claim form by Aug. 24, 2026.

According to the lawsuit, Costco allegedly violated state law by sending commercial emails with deceptive subject lines that created a false sense of urgency by advertising limited-time offers that plaintiffs allege the retailer intended to extend beyond the advertised promotional period. 

Examples of the subject lines cited in the lawsuit include “Today is the last day to access Member-Only Savings” and “Hot Buys available for 5 Days Only.”

Costco shoppers in Vermont.

Customers look over food items at a Costco store in Colchester, Vermont, in August 2024. (Robert Nickelsberg/Getty Images / Getty Images)

COSTCO QUIETLY DISCONTINUES AWARD-WINNING KIRKLAND ITEM FANS CALL ‘ONE OF THE BEST’ IN THE MARKET

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The net proceeds of the $14 million settlement will be distributed equally among class members who submit valid claims after court-approved attorneys’ fees, litigation costs and service awards are deducted. The exact payout per person remains unknown because it will depend on the total number of approved claims. 

Each class member may submit only one claim form, regardless of how many qualifying promotional emails they received from Costco.

Ticker Security Last Change Change %
COST COSTCO WHOLESALE CORP. 966.58 +15.00 +1.58%

Individuals may also choose to opt out of the settlement to preserve their right to sue separately or object to its terms by Aug. 24. 

Those who take no action will receive no compensation and will be barred from pursuing future legal claims related to the allegations covered by the settlement.

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The court will decide whether to grant final approval to the settlement on Oct. 2, 2026, at 3:30 p.m. PT in Seattle. 

Costco customer receipt

Customer handing receipt to door checker employee at the exit, Costco megastore, Queens, New York. (Lindsey Nicholson/UCG/Universal Images Group via Getty Images / Getty Images)

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Corning Incorporated (GLW) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript