This is Buying Sandlot — the only newsletter that focuses solely on the business of youth sports.
The year is off to a rocking start as those firehoses of capital are beginning to get turned on. With large acquisitions underway, the latest round of comps in the industry are getting set as we speak, and they portend to be massive.
Let’s get to it.
In the email today:
🎥 GTCR’s Youth Sports Push Starts Fast
GTCR has reportedly acquired hockey-focused streamer LiveBarn for $400M.
The news comes days after the Chicago-based PE firm launched Ascent Sports Group — a youth sports tech platform — with former Match Group COO Gary Swidler.
LiveBarn began exploring a sale in May
Montreal-based company has cameras in over 2K venues
Locations in 49 states, 10 provinces
Subscription model with live games, on-demand replays
Live tagging, highlights, AI-powered analysis tools through Sportloqic
Company is reportedly profitable with around $80M in annual revenues
The deal will require Canadian regulatory approval since it is a foreign takeover, according to The Globe and Mail. Sportico also reported the deal has been “on and off for months” and some claimed it had recently fell apart.
LiveBarn was the subject of a government privacy probe last year after one of its cameras accidentally live streamed a kids summer camp in Ontario. It is also currently in litigation with former partner Black Bear Sports Group — a Buying Sandlot sponsor — regarding BBSG’s streaming service.
There are too many unknown variables to draw conclusions on what this deal means for any potential SportEngine sale beyond it’s interesting that GCTR is paying what many have thrown out as a potential sticker price Versant would aim for.
What is crystal clear: GCTR/Ascent Sports Group is playing for keeps.
It feels like this could become a race between LiveBarn and GameChanger to grow via adoption in sports beyond their respective wheelhouses, with basketball as the obvious main battleground to start — something we’ve long predicted would emerge as the prevailing strategy in such a fragmented space.
Globe and Mail reports that LiveBarn has revenue in the neighborhood of $80M and is profitable. So we’re looking at a 5x revenue multiple for a dedicated youth sports streamer.
Meanwhile, GameChanger, which is projected to have $150M in revenue, would certainly be worth more than $1B if it were a standalone company. Valued as a streamer it would be worth $750M with a 5x multiple, but it has more platform elements than LiveBarn and, thus, would get a higher multiple.
Anyway, this explains why so many in the space - from Black Bear, to TeamSnap, to GC - are investing so heavily in expanding their streaming offerings. With some scale, it’s a 10-figure business opportunity.
The Scouting Combine For Youth Sports*
MPI’s pitch is very simple: it’s a scouting combine for youth sports (age 13+).
Or as I (Kyle) call it: The SAT score for athletes.
College recruiting is an increasingly thankless task as athletes can switch schools at will. This means college coaches rely on hard data to help make all-important scholarship decisions. But where does that data come from, and can you trust it?
That’s where MPI Sports comes in.
They offer:
Standardized Testing for speed, power, and agility
A Composite Number that aggregates physical data into a single, understandable number, similar to a credit rating
Percentile Rankings
Longitudinal Tracking with digital passports for athletes
Athletes and families receive actionable roadmaps for growth. Coaches and clubs remove bias from roster decisions and can use the data to inform load management practices. Recruiters deal with proof, not hype, and become more efficient. And organizations can establish internal uniformity while creating new revenue streams.
Find out how athletes in your program can get their MPI score right here.
*Sponsor
🏟️ Only 1 Week Remains For Early Bird Tickets
Ticket prices for the Buying Sandlot Summit will increase on January 31. Early bird tickets are $599 and include 2-days of programming and networking with a who’s who of youth sports + our evening event at the amazing Ballers (pictured here). All meals, dinner, drinks included in early bird pricing.
🏈 The NFL Is Giving Flag Football A ‘Super’ Showcase
The sport will be everywhere in the Bay Area next week before the New England Patriots and Seattle Seahawks meet in Super Bowl LX.
2026 NFL Flag International Championship: Three-day tourney featuring U13 coed teams from the U.S. and 13 other nations; the title game is Feb. 3
NFL Flag Girls High School Showcase: The Feb. 3 event will feature top HS girls flag players from around the country competing in events that mirror the Pro Bowl games; it will be shown on ESPN and streamed live on ESPN's app, Disney+ and elsewhere starting at 6:30 p.m. ET
Pro Bowl Games: The flag football event will begin at 8 p.m. ET on Feb. 3 and be televised on ESPN
USA vs. Mexico Flag Football Showcase: The NFL will stream the matchup between the men's national teams from both countries on YouTube at 7 p.m. ET on Feb. 4
Toyota Glow Up Classic: Top Bay Area HS girls players will compete under UV lights and in glowing jerseys and gear with NFL legends and players coaching on Feb. 4
Super Bowl LX Flag Football Game: A celebrity game the night before the big game on Feb. 7; it will be streamed on YouTube and start at 10 p.m. ET
Team USA star (and Unrivaled Sports partner) Ashlea Klam will be among the global flag ambassadors in attendance at the events; Hall of Famer Steve Young will be named a new global ambassador during the week
Quick Take: There have been rumblings the NFL could formally launch its new men’s and women’s professional leagues during Super Bowl week as well. So the flag push could be even greater than advertised.
💰 Another PE-Backed Deal On The Horizon
Varsity Brands is about to drop a bag on a major acquisition, but first everyone has to play a game of business “Guess Who?”
The KKR-owned youth sports platform is freeing up hundreds of millions to buy an unspecified company "that sells sports apparel and equipment in the club/select channel," according to Moody’s and pointed out by Sportico.
Some other clues via the credit rating agency:
The company is focused on soccer
Largely serves elite club teams
Also has smaller multi-sport apparel business
70% of its sales are to teams
Some DTC sales for soccer apparel/equipment
The interesting part: Varsity Brands is already in the apparel and equipment space as owner of BSN Sports. And it recently launched Club Direct, which works exclusively with club teams and has quick factory-direct manufacturing as its main selling point.
But Moody’s believes BSN has more room to grow — and the acquisition will capitalize on the upside if executed properly.
The acquisition provides an opportunity for Varsity to expand its own presence in the private sports club market, an area currently underpenetrated at BSN. [Acquisition target] is largely focused on the larger premier youth clubs in the US.
We believe that Varsity will be able to expand Target's offering more broadly to small clubs across the country by leveraging its large sales force and distribution network. The participation and popularity of soccer is growing in the US and should support sales growth. We also expect Varsity will improve the EBITDA margin at the acquired business by contributing its own manufacturing and distribution advantages and by providing access to its licensing partnerships with leading apparel companies.
We expect the combined company to benefit from revenue and expense synergies that are reasonable in scope, but will require good execution to realize. Target also sells soccer apparel and equipment directly to consumers through its digital offerings. The expansion into ecommerce retail modestly diversifies Varsity's business outside current school and club focus.
⚽️ Bank of America Launches Youth Sports Initiative With Soccer Legend
David Beckham and BOA rolled out their partnership last week at the World Economic Forum in Davos, Switzerland — a natural place for youth sports activations — after it was quietly announced last year.
The Sports with Us initiative is designed to create access and opportunities for youth athletes and their families. The upcoming World Cup will be a big focus — BOA is the official bank partner of U.S. Soccer and the official bank sponsor of the event.
There is also a golf-specific initiative — Golf with Us — that piggybacks off BOA’s partnership with The Masters and other relationships in the sport.
BOA also sponsors the Boston and Chicago Marathons and various youth sports clinics nationwide.
🤦♂️ Parents Behaving Badly, Taser Edition
Basketball is a big deal in Kentucky.
Case in point: A fracas during a live-streamed middle school boys game last week ended with a man getting tased.
Carr Creek — which led Emmalena by 18 — was bringing the ball up the court when two players came flying into view, wrestling on the ground near half court.
Several coaches and spectators spilled onto the floor to break things up … a few side scuffles broke out … and a security guard used what appeared to be excessive force.
“And they just tased Ryan,” one of the broadcasters said in an all-time understated call. “This ball game is over.”
The stream ended soon after.
💼 Youth Sports Transactions Wire
Bernard Lagat has been named USA Track and Field’s GM for youth programs.
The five-time Olympian won silver and bronze medals for Kenya in the 1500m; he is also an eight-time world champion and three-time NCAA champion.
Lagat will oversee the Junior Olympics, Youth National Championships, U20 Championships and other initiatives, including camp programs. He was most recently the head cross country coach and an assistant track coach at the University of Arizona.
🔗 Youth Sports Links
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