Field Notes: 4 People Moves, 3 Announcements, 2 Things Worth Your Time, and 1 Stat That Matters in the Sports Economy.
Curated and delivered every other Wednesday.
4 People Moves
Matt Anderson: Last valued at $2.2 billion, Strava is reportedly eyeing an IPO in 2026. Adding a six-year finance leader from Nextdoor (NYSE: NXDR) signals they’re serious about getting their house in order ahead of going public.
Massimo Calvelli: RedBird adds former ATP CEO Massimo Calvelli to lead International Development. A global sports operator joining one of the sector’s most active investors hints at bigger ambitions abroad.
Nick Heitz: Overtime keeps pushing as one of the most innovative platforms in sports. Elite partnerships, original content, and massive distribution remain a winning mix.
Jonathan Nabavi: FanDuel is set to launch a new prediction markets platform this month. Smart move to bring in more legal firepower from the NFL—regulatory scrutiny will only keep tightening.
People moves data via Workforce.ai by Live Data Technologies
3 Announcements
Chiefs-Cowboys Thanksgiving day game breaks viewership record | Adam Schefter
At 57.23 million viewers, this SMASHED the regular season record by 36%. This is why, as Ari Emanuel puts it, the NFL is the “beast of all beasts.” It’s the last unmissable appointment television in America. And yet, teams are still leaving money on the table: betting integrations, international expansion, loyalty programs, stadium monetization…the revenue ceiling hasn’t even been sniffed yet.
New restaurants, sports club to transform Dallas’ Design District | Dallas Business Journal
If you thought pickleball took America by storm, wait until padel proliferates—long popular in Europe and Latin America, it’s doubles-only, fast-paced, and built for community. I was blown away when I first visited Padel Haus’ Brooklyn location in 2023, so I’m fired up to have one coming to my backyard.
You Won’t Believe the Sweetheart Terms in Lane Kiffin’s LSU Contract | The Rich Eisen Show
If there’s a Lane Train crash in Baton Rouge, Kiffin will still be owed a $73,000,000 buyout. Brian Kelly will receive a direct deposit from LSU of ~$800,000 every month for over six years. The President of the university has an annual salary of $750,000. Magical things better happen in Death Valley between now and 2032 for this one to pencil.
2 Things Worth Your Time
WATCH: Ari Emanuel’s “Anti-AI” Bet on Live Entertainment | Invest Like The Best
This might be my single favorite podcast episode of 2025. From bull riding to boxing, the world’s most famous super-agent turned global dealmaker isn’t slowing down at 64. Ari runs TKO Group Holdings (UFC, WWE, PBR), just launched MARI (Frieze art fairs, Barrett-Jackson, IMG events) in October, and still holds a stake in WME. His thesis is simple: as the world automates, the things you have to experience in person only get more valuable.
READ: Sports tech market undergoing rapid consolidation — what’s driving it? | SBJ
Teams don’t want point solutions anymore—they want platforms. That’s fueling consolidation as disproportionate gains accrue to category leaders. Can acquirers stay nimble while scaling inorganically? How many of these tools get shelved post-deal? When will we see the the killer app for sports?
1 Stat That Matters
>$32 Billion – The total amount of disclosed deal value across 233 sports tech M&A deals in the first half of 2025. (Drake Star)
While mega-deals grab headlines, this transaction volume shows how much action is in strategic tuck-ins quietly reshaping competitive landscapes.
Pull of the Week
I’ll be publishing Field Notes every other Wednesday.
Stay tuned and share this with someone who should be paying attention to where the sports economy is headed.
If you’re building, investing, or advising within this ecosystem — please reach out!
Email: underthenumberpod@gmail.com.
– Brent