📬 The Berkida Brief: A Weekly Dive into Sports, Media, Entertainment, Music & Gaming
Welcome back to The Berkida Brief – your weekly download of strategic developments across global sport, media, entertainment, music, and gaming.
🌟 The Berkida Take
This edition covers M&A in content distribution and music rights, franchise expansion in women’s basketball, ownership shifts in football and tennis, a gaming IPO, and commercial traction in women’s football. This week’s brief highlights several important signals across sport, media, and entertainment:
Investors continue to chase scalable, narrative-rich IP across music, sport, and digital media, with Warner–Bain and Oaktree doubling down on distribution and catalogue value.
Financial governance is tightening across football, with UEFA’s first enforcement of its new Football Earnings Rule issuing record fines and spotlighting the strategic need for sustainable squad cost management.
Legacy music IP is proving highly monetisable across platforms, with Oasis’ reunion tour reigniting catalogue value and setting new benchmarks in live entertainment demand.
Women’s sports are accelerating commercially, from WNBA expansion to UEFA Euro viewership records, underlining their viability as standalone media properties.
US capital continues to reshape football and tennis ownership, with Beckett Layne and Stephen Ross betting on high-potential European and North American assets.
Gaming and fitness-adjacent platforms are maturing as investable categories, as shown by Hacksaw’s IPO and PAC’s funding round.
Media rights markets are showing signs of rotation and repricing, with Stan’s EPL move and Apple’s F1 cinematic success pointing to a broader convergence of content, platforms, and live sport.
And… Wimbledon 2025 opens with prestige, record demand – and quiet controversy without line judges on court.
🎵 Warner & Bain Launch $1.2 Billion Music Catalogue JV
Warner Music Group and Bain Capital have launched a joint venture with US$1.2 billion in committed capital to acquire music catalogues. The JV aims to consolidate legacy masters and publishing rights across genres, with reported interest in acquiring the Red Hot Chili Peppers' catalogue, estimated to be valued at over US$300 million.
This is Bain’s most significant foray into music assets to date and signals sustained institutional belief in music IP as a cash-yielding, inflation-hedged asset class. Warner will provide global distribution, sync licensing, and A&R-driven monetisation capabilities, while Bain offers acquisition scale and capital discipline. The move continues a trend of cross-pollination between private capital and major labels in response to Spotify-driven royalty growth and renewed competition for legacy catalogue assets.
🎸 Oasis Reunion Tour Opens to Sell-Out Crowds
Oasis kicked off their long-anticipated reunion tour this week with a sold-out show in Cardiff, marking the band’s first live performance together in 16 years. The tour, expected to span over 40 cities, has already broken UK ticket sales records and is projected to be one of the highest-grossing global music tours of 2025.
The reunion has reignited catalogue streaming — with Oasis tracks topping Spotify’s UK chart — and driven renewed interest in band merchandise and rights licensing. The commercial success underscores the long-term monetisation potential of iconic music IP, particularly when paired with live events. Industry analysts note this may further strengthen the valuation environment for rock catalogues among acquirers like Warner–Bain and KKR.
🎥 Oaktree Forms Radial Entertainment via FilmRise and Shout! Studios Merger
Oaktree Capital has merged its portfolio companies FilmRise and Shout! Studios to form Radial Entertainment, a new digital content platform with over 70,000 titles under management. The merged entity will focus on global AVOD, FAST channels, digital syndication, and niche OTT distribution.
Both FilmRise and Shout! have carved out strong positions in long-tail, genre-specific content. The merger comes at a moment when streamers are rationalising content spend, creating new demand for low-cost, high-volume licensing libraries. Radial’s combined catalogue includes classic TV, cult films, and children’s content, with the potential to become a leading aggregator in the fragmented secondary rights market.
🏀 WNBA Awards Three New Franchises at Record Valuation
The WNBA has approved expansion franchises in Cleveland (2028), Detroit (2029), and Philadelphia (2030), with each group reportedly paying a US$250 million entry fee – the highest price ever recorded in professional women’s sport.
The league’s expansion follows strong momentum: ratings are up 33% year-on-year, new sponsor categories are activating, and social engagement around players has reached all-time highs. The WNBA’s commercial evolution – including a forthcoming direct-to-consumer product and increasing international interest – is positioning it as a scaled, standalone media property. The US$750 million in combined expansion proceeds will be reinvested in player salaries, marketing, and infrastructure.
🎥 Brad Pitt’s F1 Film Delivers Record Opening for Apple
Apple’s Formula 1-themed feature starring Brad Pitt has opened to US$144 million globally, making it the tech giant’s largest theatrical release to date. Co-produced with F1 and supported by Mercedes-AMG Petronas and Liberty Media, the film was heavily promoted through the Grand Prix calendar and fan activations.
The release not only affirms Apple’s cinematic ambitions but underscores the narrative value of sport. With the F1 fanbase skewing young and global, the film serves both as brand storytelling and soft diplomacy for Apple’s long-term interest in sports rights – particularly as its Apple TV+ platform expands its live sport offering.
🎮 Hacksaw Gaming Completes IPO on London Stock Exchange
Hacksaw Gaming, a Malta-headquartered real-money game developer, has floated on the London Stock Exchange at a valuation of approximately £1.1 billion. The offering was significantly oversubscribed and drew demand from institutional investors across Europe and North America.
Founded in 2018, Hacksaw built early traction with instant win games and has since expanded into slots and scratch card formats. Its modular architecture and regulated market focus – with licences in the UK, Malta, Sweden, and Ontario – have made it a favoured partner for online casinos. This is the first major iGaming IPO in London since 2022 and could spur further listings as investors seek exposure to digital-first, B2B gaming infrastructure.
🚫 UEFA Enforces Record Financial Sanctions Under New Earnings Rule
UEFA’s Club Financial Control Body (CFCB) has finalised its first ever assessment under the newly introduced Football Earnings Rule for the 2024/25 season. Twelve European clubs – including Chelsea, Aston Villa, Barcelona, Lyon, and Porto – have been placed into settlement agreements after exceeding the newly established limits on wage and transfer spending relative to football-related revenue.
The new rule, introduced as part of UEFA’s post-FFP reforms, replaces the break-even requirement and limits total squad costs to 80% of club revenues, falling to 70% by 2025. Sanctioned clubs have agreed to multi-year compliance plans and face fines ranging from €20 million to €80 million, with additional conditional penalties for non-compliance. In some cases, UEFA has imposed squad registration restrictions for UEFA competitions, forcing clubs to sell players to register new ones.
The ruling sends a strong signal to club owners, executives, and investors that UEFA is tightening enforcement and shifting from reputational penalties to direct sporting and financial consequences. It places pressure on clubs to align their commercial and sporting strategies, and further emphasises the need for disciplined squad cost management across Europe’s top leagues.
⚽ Beckett Layne Acquires AC Monza
US investment firm Beckett Layne has acquired an 80% stake in Italian Serie A club Monza from Fininvest, the holding company of the Berlusconi family, in a deal worth approximately €45 million. The remaining 20% is expected to transfer by 2026, pending regulatory clearance.
Monza, promoted to Serie A for the first time in 2022, has become one of the more commercially viable clubs outside Italy’s top six. With proximity to Milan, a recently renovated stadium, and a young supporter base, Monza presents a strategic asset for American capital. Beckett Layne is expected to pursue enhanced matchday operations, improved sponsorship yield, and long-term brand building – replicating elements of the US playbook seen at clubs like Toulouse and Venezia.
🎾 Stephen Ross Nears Deal for 45% of Miami Open
Stephen Ross is reportedly close to acquiring a 45% stake in the Miami Open tennis tournament, as part of a larger divestment by Endeavor to a consortium including RedBird Capital and Apollo. The deal would unify ownership of the Miami and Madrid Opens under shared commercial management.
Ross, owner of the NFL’s Miami Dolphins and developer of the Hard Rock Stadium, already hosts the tournament at his venue. The deal is expected to accelerate crossover sponsorships, enhance premium hospitality, and drive programming efficiencies. The transaction is emblematic of a broader trend: elite single-location events being bundled into multi-event commercial platforms.
📈 Rogers Increases Stake in MLSE to 75%
Rogers Communications has purchased BCE’s 37.5% stake in Maple Leaf Sports & Entertainment (MLSE) for C$4.5 billion, taking majority ownership in Canada’s most valuable sports group. The portfolio includes the NHL’s Toronto Maple Leafs, NBA’s Raptors, MLS’s Toronto FC, and Scotiabank Arena.
Rogers is reportedly considering strategic options, including bringing in a minority investor or exploring a partial IPO. MLSE’s operating income has remained strong, buoyed by premium media rights, venue revenue, and merchandise. The transaction shows the continued institutionalisation of club ownership, and the opportunity for sports groups to generate liquidity while retaining control.
📺 Stan Acquires Premier League Rights from Optus
Stan, the streaming platform owned by Nine Entertainment, has acquired domestic Australian rights to the English Premier League and FA Cup from Optus in a deal worth around A$30 million per season. The multi-year agreement covers all matches and includes digital highlights and mobile clips.
Optus had held exclusive EPL rights since 2016. The switch to Stan marks a reset in the Australian sports media landscape, with traditional media operators regaining key properties from telecoms. Stan plans to integrate the rights into its premium sport offering alongside rugby, tennis, and domestic football, reinforcing its position as a challenger to global OTT platforms.
🤝 Volo Sports Acquires ZogSports
Volo Sports has acquired ZogSports, a long-standing US-based operator of social recreational sports leagues, bringing the combined player base to over 600,000 people across 11 major cities. The transaction was backed by Bluestone Equity, which previously invested $21 million in Volo to help scale its digital infrastructure and national footprint.
Founded in the aftermath of 9/11, ZogSports built a loyal following by offering amateur adult sports leagues—like dodgeball, kickball, soccer, and volleyball—primarily for young professionals in major metro areas. It combines sport with socialising and charity, donating a portion of league fees to participant-selected nonprofits. Volo, by contrast, operates at larger scale, with a strong focus on tech integration, sponsorship activation, and corporate wellness offerings.
The deal creates the largest social sports platform in North America and reflects growing investor interest in “connected fitness” ecosystems—especially those blending real-world activity with scalable brand experiences. The merged entity plans to expand into mid-sized US cities while building new revenue streams from events, brand partnerships, employer programmes, and eventually, original media content.
🧠 Pro Athlete Community Raises $7.6 Million to Support Athlete Transitions
Pro Athlete Community (PAC), a virtual education and mentorship platform for athletes in transition, has closed a US$7.6 million Series A led by GSV Ventures and Maveron. Founded in 2022, PAC now supports more than 650 athletes from 18 sports.
Its services include peer mentoring, career coaching, and digital education tools tailored to the athlete experience. The investment reflects continued interest in wellbeing-focused platforms at the intersection of sport, tech, and education – particularly as retired and active athletes look to build sustainable off-field pathways.
🏟 Aston Villa Explores Sale of Women’s Team
Aston Villa is reportedly exploring a sale of its women’s football team, following a similar path to Chelsea’s 2023 decision to separate its women’s and men’s operations. The sale process is in early stages but could value the team at up to £60 million, according to industry sources.
The move aligns with rising commercial interest in standalone women’s football assets, especially among investors seeking undervalued properties with established brand linkage and growth headroom. Villa Women currently compete in the WSL and benefit from shared infrastructure with the men’s side. UEFA Women’s Euro 2025 and the next Club World Cup are likely to further elevate asset values.
🏆 UEFA Women’s Euro 2025 Breaks Attendance and Prize Money Records
UEFA has announced that more than 600,000 tickets have already been sold for Women’s Euro 2025 in Switzerland, surpassing the 2022 edition’s total sales. Prize money has risen to €41 million – a 156% increase from the previous tournament.
The opening round delivered strong TV ratings, viral social clips, and full stadiums, including a historic moment for Wales’ debut and Vivianne Miedema’s 100th international goal. England’s early defeat to France added intrigue. The tournament has become a focal point for sponsor activation and federation-backed visibility, continuing the upward commercial trajectory of women’s football in Europe.
🎾 Wimbledon 2025 Opens with Prestige, Record Demand – and Quiet Controversy
Wimbledon kicked off its 2025 edition with full crowds, high-profile sponsors, and continued global viewership dominance. The tournament remains a masterclass in heritage curation and premium positioning — offering a blueprint for sports properties balancing legacy with scale.
But this year also marked the first tournament without line judges on court, as Hawk-Eye Live took over all line-calling duties. The change, while technically effective, has drawn criticism from players, commentators, and fans, who argue that it erodes the theatre and tradition of the game. Organisers have defended the decision as a step toward consistency and efficiency.
The reaction underscores a growing dilemma in sports governance: how to integrate automation without compromising identity. For Wimbledon — like Augusta or the Olympic Games — brand equity is built as much on ritual as performance. Expect further debate around how far innovation can go before it starts to subtract.