Get up to speed with latest news impacting the sports business landscape in Chicago and beyond.

Chicago

Local tech startup sells for $250 million, to hire more based in Chicago While some were still recouping from hangovers and time-off withdrawal, Mavely was selling for millions. The tech startup announced its sale to Boston-based Later for $250 million. But the company plans to stay local and hire “dozens more workers” mainly in Chicago. Mavely specializes in connecting social media influencers, especially those with smaller followings, with brands looking to pay them for promoting their products. It’s the perfect marriage in a growing industry, evidenced by the money Later is willing to pay for Mavely. According to co-founder and CEO Evan Wray, who lives in Chicago, Mavely has helped create more than $1 billion in sales through its users for a handful of Fortune 500 companies. Crain’s discusses how they grew the company in a few years and their plans to stay in the West Loop.

Bears’ owner confident on stadium construction this year, despite major questions The ongoing drama behind the Bears’ stadium (and team in general) is like that annoying kid at the grocery store yelling constantly, but the parents won’t shut them up. CEO Kevin Warren remains hopeful about starting construction on the stadium this year, preferably at the Museum Campus parking lot site. The optimism seems reasonable. But just like how the season started, giving false hope with a 4-2 start, reality settles in when you look at the facts. The Bears still own a lot of land in Arlington Heights. The city also just agreed to give them a tax break. Besides questions on location, it’s unclear where all the money will come from to fund the proposed $4.7 billion stadium. This announcement proves once again the Bears are good at creating buzz, but can they execute? Read more to see how much land they own in Arlington Heights and what happens if they move forward with lakefront construction.

On par for expansion, KemperSports seeking new capital Northbrook-based KemperSports is in the market for additional capital. They have confirmed in a statement they want to make some additions at some of their properties. Discussions of an acquisition by at least one private equity firm were mentioned, but nothing else has been confirmed. As the fifth-largest golf course management company in the country, KemperSports owns more than 140 golf courses nationwide. Maybe they are hoping to catch a windfall of cash from Saudi investors splurging in the U.S., similar to what happened with LIV Golf, to catch up with Troon’s world-leading 610 courses managed. It could also be a continuation of rebranding efforts last year that tweaked their presentation of sports events, live events, and fan engagement strategies. Sportico tracks KemperSports plans and the players involved in its financing quests.

Sky and Stars push for public funding Tired of sloppy seconds at what should be their home facilities, the Sky and Stars are speaking out for equality in public funding. Players and representatives from both organizations testified in front of the Illinois House of Representatives over a new proposed House bill. The bill would require public funds to be used or set aside whenever men’s sports are funded. Stars president Karen Leetzow and players such as Alyssa Naeher detailed the difficulties, including sharing two hotel rooms between 25 women because they couldn’t access their facility for practice. As the Bears and Sox campaign for millions and millions of public funds for new stadiums, the Sky and Stars are hoping to get a piece of the pie if and when public funding is approved. Otherwise, they’ll continue to feel like second-class citizens in facilities they can’t really call their own. Read more on how Leetzow hopes to “build the sports culture for women that I’ve deeply admired so deeply in men’s sports” through a share of public funding.

National

If you can't beat 'em, join 'em: Fubo drops lawsuit, plans to merge with Hulu+ Live TV A new streaming service will be on the horizon, a win for sports fans nationwide. Fubo will join forces with Hulu+ Live TV to combine the best that both streaming apps have to offer. This merger allows Fubo to move closer to its vision of offering sports fans an ideal sports-streaming bundle. It could allow subscribers packages more pinpointed to their individual interests, versus being forced into more expensive packages. But the progress didn’t come without a battle, with Fubo’s CEO referring to Disney’s Venu venture as a “sports cartel”. Check out the details of the Fubo lawsuit, the merger, and what the new streaming service will offer subscribers.

New year, new team: Denver pays record $110 million expansion fee Denver will receive the 16th NWSL franchise, but not at a small cost. They will pay a record $110 million expansion fee, more than double the previous record. It’s also the largest expansion fee ever for a U.S. women’s sports team. It shouldn’t come as a surprise after a groundbreaking 2024 for women’s sports. NWSL clubs are worth 57% more than they were a year ago and WNBA teams are now worth $1.16 billion collectively, an all-time high. Denver wasn’t the only city willing to shell out record amounts of cash to secure a franchise. They beat out stiff competition from Cleveland and Cincinnati, which Caitlyn Clark backed. This report explains what’s next for Denver and the outlook of the NWSL.

Not busy enough, Elon Musk ponders buying Liverpool Elon Musk seems to be able to juggle 200 balls (businesses, government agencies, conspiracy theories) at a time and still manage to get bored. The Scottish Sun reports the man worth $411.5 billion may be interested in buying Liverpool, the fourth most valuable soccer club in the world. Owned by Boston-based Fenway Sports Group (FSG) since 2010, Liverpool’s owners have been open to ‘serious, suitable investors’ for a while. They’ve already sold a minority stake to a U.S. investment firm back in 2023. Liverpool is estimated to be worth $5.37 billion, which would be like buying a deep-dish pizza at Lou Malnati’s for Musk. This article explains his ties to Liverpool and the likelihood of a shocking purchase.