Youth sports platform Unrivaled Sports has received a $120 million investment led by Dick’s Sporting Goods. Other participants in the funding round included Miller Sports + Entertainment, Dynasty Equity, LionTree and The Chernin Group.
Unrivaled, formed by David Blitzer and Josh Harris, co-owners of the Philadelphia 76ers and New Jersey Devils, as well as The Chernin Group, operates a portfolio of youth sports destinations and programming, including Cooperstown All Star Village, Ripken Baseball Experiences, Rocker B Ranch, Diamond Nation, Unrivaled Flag, and Under the Lights Flag Football.
Andy Campion, Nike’s former COO and CFO, became Unrivaled’s chairman and CEO last year.
Unrivaled said in a press release that the funds will be used for “further acquiring, building and diversifying destinations and programming that deliver unrivaled experiences to girls and boys of all ages.” The investment also will go to boosting experiences and amenities, including upgrades to fields, improving officiating, and elevating food and beverage.
Dick’s investment comes from DSG Ventures, the corporate venture capital fund of Dick’s and is the sporting goods retailer’s first in Unrivaled. The company already has a sizable youth sports presence through its Gamechanger app, acquired in 2016.
“We’re incredibly excited to invest in and partner with Unrivaled Sports,” said Michael Stack, vice president of strategy and corporate development at Dick’s Sporting Goods. “They share our core belief that sports have the power to change lives, and the impact they’ve made in just one year has been incredibly impressive. We are fully aligned to their vision for transforming youth sports for the better by investing in the fields, spaces and events where memories are made, friendships are formed and life lessons are instilled. We look forward to working together to create more sports experiences that build fun, excitement and community in the moment, and that have lasting impact over a lifetime.”
“Dick’s Sporting Goods has become the undisputed leader in serving young athletes as they gear up to play the sports they love. Their mission-driven approach to youth sports has been at the center of their ecosystem, from their early days as a small family business to their growth into the nation’s leading sporting goods retailer to the grants they provide to youth programs through the Sports Matter initiative, and now, their partnership with us at Unrivaled Sports,” said Unrivaled’s Campion. “We are thrilled to build the future of youth sports together with Dick’s Sporting Goods, and with the support of our other new strategic partners.”
Outside The Chernin Group, the other participants are also new investors. Miller Sports + Entertainment is an investing arm of the family of Larry Miller, former owners of the Utah Jazz and current holders of the Salt Lake Bees minor league baseball team.
Dynasty, founded by former broadcast media executive Don Cornwell, is a sports investment firm focused on acquiring minority interests in sports franchises and other related assets and rights. LionTree is an American merchant bank with a focus on industries related to technology, media and telecommunications.
The Chernin Group’s sports-related investments include in the Premier Lacrosse League, Barstool Sports, Vuori, Surfline and The Pro Closet.
