Highlight Reel: Utah Jazz Owner Ryan Smith Launches $1B Sports Tech Fund 🏀
Plus, the Rise of the Unibet Tietema Rockets and MrBeast Tells Creators to Shut Their Mouths...
Good morning!
It’s been a quieter week - no doubt helped by a rare burst of sunshine here in the UK. That said, it feels very much like the calm before the storm, with two big events on the horizon.
First up, we’ve got our Speakers Only reunion with Moonshot and MLB on April 24. Then, we’ll be hosting a wider social mixer on April 30 after SportsPro Live - RSVP here if you’re planning to be around.
Now, on to this week’s stories:
Ryan Smith Launches $1B Sports Tech Fund 💸
MrBeast Tells Creators to Shut Their Mouths 🤫
The Rise of the Unibet Tietema Rockets 🚀
Let’s get into it:
A NEW VENTURE
Utah Jazz Owner Ryan Smith Launches $1B Sports Tech Fund 🏀
Utah Jazz and Utah Hockey Club owner Ryan Smith is doubling down on the future of sports tech, launching HX One LP, a $1 billion growth-stage investment fund in partnership with Accel’s Ryan Sweeney.
The fund operates under a new corporate entity, Halo Experience, and runs independently from Smith’s Smith Entertainment Group (SEG), which owns the Jazz and Utah Hockey.
HX One will back startups at the intersection of sports, tech, and experiences, with early capital secured and Accel providing back-office support.
Smith and Sweeney previously teamed up on Qualtrics, which sold for $8B before being taken private again at $12.5B.
The global sports tech market is expected to grow from $14.7B in 2023 to $55B by 2030, as innovation continues to transform performance, fan engagement, and infrastructure.
Why It Matters:
Rightsholders bring more than money. They offer access to engaged fanbases, real-world testing grounds, brand reach, and performance expertise. That mix makes them some of the most valuable investors startups can have.
With HX One, Smith and Sweeney are formalising that opportunity.
“Sports effectively touches all parts of our economy,” Sweeney told Front Office Sports. “Think about the intersection of digital media, of social media, payments, security, health and wellness, the list goes on and on. All the big markets we talk about, whether it be investing or just broadly speaking in terms of the economy, all have a role and all play a part within the sports ecosystem.”
Following Red Bull’s recent launch of its own venture arm, this move shows increasing momentum from the smartest IP owners to get themselves a step closer to the source of innovation and to start claiming equity in the value that they help to create.
OPINION: KEEPING QUIET
🗣️ Jon Wilde: Why MrBeast is Telling Creators to Shut Their Mouths 🤫
“In a recent Colin and Samir podcast with Meta CEO Mark Zuckerberg, Jimmy Donaldson made an impromptu appearance to offer his perspective on Meta-owned platforms.
He explained how MrBeast has adapted content to optimise performance on Meta platforms and how, in Mark’s position, he might adjust the platforms to improve retention. As is often the case, the feedback seems obvious once you hear it out loud. Language, or lack thereof, is the key to virality on Meta.
If you remove language from your content, you remove limits to the size of your potential audience. Understanding platforms and constantly adapting is the key to sustained success and growth.”
MrBeast exercised this insight himself in this Instagram Reel that he posted, collaborating with Porsche and Formula E.
HIGHLIGHTS
Media
Ligue 1 boosted fan engagement with Snapchat, gaining 108K followers and 10.9M views. Snapchat provided a scalable solution to drive discovery, attract new followers, and deepen fan interaction - especially around match moments ⚽️
MLB could licence MLB.TV to other broadcasters in an effort to expand the audience for the platform, which was watched for 14.5 billion minutes during the 2024 season – a year-on-year increase of 14 per cent ⚾️
The 2025 season premiere of the United Soccer League on CBS featuring San Antonio FC and Phoenix Rising FC has delivered a league-record regular season viewership, averaging 453,000 viewers 📺
Marketing
On its 10th anniversary, G2 Esports has announced its entry into traditional sports with the launch of G2 Football Club. The team will make its debut in Kings League Germany, competing against eight other teams in a qualification series 🎮
Italian giants Juventus are reported to be exploring a double shirt deal with Jeep and Visit Detroit, hoping to secure agreements before the 2025 Club World Cup begins 🏆
Sephora continues women’s basketball push with Golden State Valkyries deal. The multi-year contract includes naming rights to WNBA expansion team's training facility and practice jersey branding 🏀
Finance
While other clubs fret about empty seats, Bradford City are doing something about it, charging just £13 a game for adults and 83p a game for Under-12s. This has resulted in an electric atmosphere for the club currently sit atop League 2 🎟️
Sir Jim Ratcliffe's Ineos Britannia sailing team has abandoned its challenge for the next America's Cup. The withdrawal comes at a time when Ratcliffe is cutting costs across the board ⛵️
Kylian Mbappé’s legal team are going on the attack with multiple lawsuits to try to resolve the legal dispute with his former club Paris Saint-Germain, who he claims owe him €55m in unpaid wages and bonuses ⚽️
Innovation
Buffalo Bills is committed to making the New Highmark Stadium a venue where all are fully included. The team has engaged 12 disability advocacy groups before finalising any designs or public renderings of the $2.2B stadium 🏟️
Meta joins the octagon as UFC's official fan tech partner. The alliance is poised to transform the way fans experience UFC events and interact with the sport through the integration of Meta's cutting-edge technologies 🥊
Livestreaming startup Playback wants to be “Twitch for sports,” and it has just raised $22 million from investors like Alexis Ohanian‘s Seven Seven Six to make that happen 📹
FROM YOUTUBE TO UCI
Community-First Cycling Team Continues to Make In-Roads 🚴
Founded by ex-cyclist and YouTuber Bas Tietema, alongside co-creators Josse Wester and Devin van der Wiel, the Unibet Tietema Rockets grew out of their YouTube channel Tour de Tietema.
Now a UCI ProTeam, they’re shaking up a sport that has often prioritised sponsors over supporters.
In 2025, they’ve already picked up wins at Cholet Agglo Tour and Paris-Camembert, are ranked 25th in the UCI standings, and have their sights set on the Tour de France within three years.
Before signing a single rider, they built a loyal audience with viral stunts like handing out pizzas at the Tour de France or climbing Alpe d’Huez on a kid’s bike — regularly attracting 200K–600K viewers per video, in Dutch.
While most teams rebrand every few years with new title sponsors, the Rockets are building a franchise-first identity: consistent visuals, long-term storytelling, and a monthly behind-the-scenes series, We Are The Rockets.
They’re also innovating off the road, from ultras-style fan sections and fan buses to Roubaix, to football-inspired merch drops that drive real-world engagement.
Why It Matters:
The Tour de France ranks among the world’s most-watched sporting events, yet few cycling teams have turned that exposure into long-term fandom.
The Rockets are flipping the model: community first, then team. Their approach offers a blueprint for how identity, consistency, and storytelling can build lasting value in a sport where teams often serve as little more than vehicles for short-term sponsorship.
As strategic board member (and Sports Pundit member) Benjamin Abitbol put it:
“Most teams never tried to build any identity at all. Sponsors set the identity, and it resets every few years. That’s a barrier to fandom.”
GROUP CHAT
That’s a wrap for this week - huge thanks to everyone who’s part of our growing community.
A special shoutout to Benjamin Abitbol for his contributions this week, notably sharing additional context with me around the story of the Unibet Tietema Rockets. This earns him the title of Contributor of the Week 👑🙏.
A shoutout should also go to Nathan Kaplan for originally bringing the story to my attention.
Welcome to all of our new members, too:
Kim van Dijk (Nike)
Adwait Bapat KPMG
Rafi Bertoli Mitchell (BOXXER)
Shachi Pai (Built For Athletes)
Josh Linn (Fuse)
Griff Leader (Snowsport Wales)
Michael Litschka (ML Marketing)
Sinead Lambe (Rising Ballers)
Rachel Roediger
Not part of the group yet? What are you waiting for? Apply to join us by filling out a simple form on the website. Feel free to share this link with (your favourite) colleagues.
P.S. You can see a full list of all the current members, here.
ON THE PODCAST
#49 Michael Yormark: Empowering Vini Jr and Siya Kolisi's Purpose-Led Approach 👊
On this week’s episode, I’m joined by Michael Yormark, President of Roc Nation Sports International, an agency representing the likes of Vini Jr, Kevin De Bruyne, Endrick, and Siya Kolisi.
Michael set up this division in 2019, moving to London with nothing but a suitcase and an alternative approach to representing athletes, particularly within European football. They’ve since expanded their presence to places like Italy, South Africa, and Brazil - and expanded their remit from football to also include rugby and netball.
In this conversation we discuss that journey, the influence of Jay-Z, representing some of the biggest and most marketable athletes in the world, approaching new sports, how he would market rugby, and much more.
SPORTS BUSINESS CONFERENCES
What’s Coming up This Month? 🤔 And How to Get a Discount 🎟️
This month has plenty of major conferences, from Sportel in Miami, World Football Summit in Rabat, CAA World Congress of Sport in Nashville, and SportsPro Live in London.
We’ve created a calendar featuring over 125+ industry events across the year that you can access for free here 📆
Even better, we’ve agreed discounts with many of these leading conference organisers if you book via the Sports Pundit website. For example, we’re offering 40% off SportsPro! Use the link below to view and book.
JOBS BOARD
We're not a recruitment agent, but we have created a custom search on LinkedIn to help to you to find some the most exciting job opportunities within the sports industry a little bit more easily…`