Youth sports platform Unrivaled Sports has received a $120 million investment led by Dick’s Sporting Goods and featuring participation from Miller Sports + Entertainment, Dynasty Equity, LionTree and The Chernin Group.
Unrivaled, formed by billionaire team owners David Blitzer and Josh Harris, said in a press release Tuesday 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. The investment values Unrivaled at more than $650 million, according to a source familiar with the company.
Unrivaled Sports was formed just over a year ago by Harris, Blitzer and The Chernin Group, rolling up a series of youth sports assets the co-owners of the 76ers and Devils had previously spent two years accumulating, including a majority interest in Ripken Baseball and Cooperstown All Star Village. Unrivaled also owns luxury baseball host facility Rocker B Ranch and flag football venture Unrivaled Flag among other assets. The initial investment in Unrivaled by Chernin isn’t publicly disclosed.
The Dick’s-led investment is the sporting goods retailer’s first in Unrivaled. The company already has a sizable youth sports presence through its Gamechanger app, a $100 million revenue business line Dick’s acquired for roughly $50 million in 2016. Outside The Chernin Group, the other participants are also new investors. Miller Sports + Entertainment is an investing arm of the family of Larry Miller, longtime owners of the Utah Jazz, which they sold in 2020, and current holders of the Salt Lake Bees minor league baseball team. The venture recently purchased soccer clubs Real Salt Lake and the Utah Royals from Blitzer at a valuation around $600 million.
Dynasty is the Don Cornwell-led sports focused private equity venture started in 2023 that reported $343 million in assets in August. LionTree is a merchant bank that has participated in other sports-related deals, including joining Harris Blitzer in sports real estate-focused Seregh last month. Founded in 2010, The Chernin Group has a number of sports investments, including in the Premier Lacrosse League, Barstool Sports and Action Sports.
(This article has been updated in the second paragraph with a valuation for Unrivaled.)
