🔊 Why Mark Cuban Is Betting On The Canadian Basketball Boom

This week, billionaire Mark Cuban, the former majority owner of the NBA's Dallas Mavericks, joined the ownership group of the Canadian Elite Basketball League (CEBL) team Brampton Honey Badgers.

The Honey Badgers, who now play at the CAA Centre in Brampton, are one of the CEBL's founding franchises. They won their first and only championship in 2022 while representing Hamilton, Canada.

Cuban sold his majority stake in American cable company HDNet to Honey Badgers' majority owner, Anthem Sports and Entertainment, led by Leonard Asper, and the team's chief executive officer, Al Whitley, is a former Mavericks executive.

Financial details of his investment and stake were not disclosed.

Why This Matters

Amidst all the talk around the NBA's expansion into Europe and Africa, the US’ neighboring country to the north isn't getting its due.

In case you haven’t noticed, Canada is becoming a hotbed for hoop talent.

Which is exactly what makes this investment intriguing.

As of the 2025-26 NBA season, over 20 Canadian players are on NBA rosters.

Shai Gilgeous-Alexander, the reigning MVP, leads the list, followed by other notable players such as Jamal Murray, RJ Barrett, Andrew Wiggins, Dillon Brooks, Nickeil Alexander-Walker, Andrew Nembhard, Kelly Olynyk, and Lu Dort.

Cuban isn't just buying into the Honey Badgers because of his existing relationship with the team’s front office.

He sees an untapped opportunity to get on the ground floor of a basketball market that the rest of the sports world might be sleeping on.

As he put it in the press release, "Canadian basketball is probably the most underappreciated in the world. The talent here is through the roof and getting better by the day."

Beyond the check, Cuban also brings something the CEBL needs: an owner with a track record of building winning cultures, investing in player development, and turning a once mid-market team into a consistent contender

He did exactly that in Dallas for over two decades.

Right now, basketball is the third-most-popular sport in Canada, behind hockey and soccer.

But with the Raptors' championship still fresh in the cultural memory and a generation of Canadian kids growing up idolizing SGA and Murray, I wouldn’t be surprised if that ranking switches up.

With the players Canada has produced over the past decade, they’re not asking to be considered anymore.

They’re putting the entire world on notice that they can compete and are here to stay.

Cuban recognizes that, and he won’t be the last to bet on the future of Canadian talent.

• Kalshi Raises $1B. Leading prediction market Kalshi announced a $1 billion Series F round at a $22 billion valuation, led by Coatue, with participation from Sequoia Capital, Andreessen Horowitz, IVP, Paradigm, Morgan Stanley, and ARK Invest. Kalshi will use the new capital “to scale adoption across hedge funds, asset managers, proprietary trading firms, and insurance companies, unlocking access to trillions of dollars in capital.” The company will also continue expanding its product suite, including recently launched block trading capabilities and deeper broker integrations tailored to institutional demand (more here).

• PlayReplay Raises $12M. PlayReplay, a Sweden-based tennis tech startup, has raised $12 million in funding led by Alfvén & Didrikson. Other investors include Centre Court Capital, ExM Investment Partners, Charbe Partners, Crimson Sports Capital, and a LionTree-managed fund. The capital will go toward expanding its electronic line-calling technology, now a fixture at elite events, to lower levels of play, according to Sportico (more here).

• William Blair Acquires Inner Circle Sports. William Blair, a global investment bank and financial services company, announced it has entered an agreement to acquire Inner Circle Sports, a leading boutique investment bank focused on sports, media, and entertainment. The deal, subject to closing conditions and regulatory approval. Inner Circle Sports will continue to operate with its same name for a period of time post-acquisition. Financial details were not disclosed (more here).

• Mittal Family Acquires Rajasthan Royals. Steel magnate Lakshmi Mittal and Adar Poonawalla, son of vaccine billionaire Cyrus Poonawalla, have teamed up to buy the Rajasthan Royals in a deal valued at $1.65 billion. Under the deal, Mittal and his family will buy a 75% stake in the cricket team, while Poonawalla will acquire 18% from existing investors led by British-Indian entrepreneur Manoj Badale, who, along with other investors, will retain the remaining 7%. The Rajasthan Royals were previously set to be sold to a consortium led by Kal Somani for $1.6 billion, backed by billionaire Rob Walton, owner of the Denver Broncos, and the Hamp family, led by Sheila Ford Hamp of the Detroit Lions; however, the deal ultimately fell through (more here).

• UNA Group Acquires XGames Teams. The MoonPay X Games League announced the sale of both its New York Summer and New York Winter teams to UNA Sports Group, an investment firm focused on acquiring and partnering with leading global professional sports franchises and platforms, in an eight-figure transaction. The firm targets high-quality assets at the intersection of sport, media, and culture, with an emphasis on long-term value creation. They are also the first single group to own two X Games League Clubs (more here).

• Betterguards Acquires Nextiles. Betterguards, an injury prevention and recovery startup, announced the acquisition of Nextiles, a materials science and wearable sports technology company. As part of the acquisition, Nextiles founder and CEO George Sun will join Betterguards as CTO. The integration of Nextiles and Betterguards creates a new wearables ecosystem and data platform designed to unlock capabilities across injury prevention, athlete recovery, and performance monitoring. Both companies were selected for the NBA Launchpad program in 2022. Financial details were not disclosed (more here).

• The Team Acquires Provisions Golf. The Team, the recently rebranded powerhouse agency founded by Casey Wasserman, has acquired Provisions Golf, a golf creator agency founded by Joe Gilliland and Josh Morgan. Provisions Golf represents numerous golf creators, including Grant Horvat and the Bryan Bros, and has developed properties such as the PGA Tour Creator Classic, LIV Duels, The Q at Myrtle Beach, and Your Golf Tour. Financial details were not disclosed (more here).

• Stonewood Capital Management Invests In Cornish Pirates. Stonewood Capital Management, a Pittsburgh-based investment firm, announced an investment in the English Professional Rugby team Cornish Pirates. The investment aligns with the club’s 10-year roadmap, which includes expanding commercial and international partnerships, establishing a Cornish Pirates Academy to develop local talent, and elevate the team towards becoming a Premiership Club. Financial details were not disclosed (more here).

• Tim Leiweke & Francesca Bodie Invest In Venezia FC. Oak View Group co-founder Tim Leiweke and his daughter, former COO Francesca Bodie, announced a $117.7 million (€100 million) investment in newly promoted Serie A club Venezia FC after being introduced by rapper Drake. Leiweke joins the club as co-chairman, and his daughter will become the club president. Leiweke and Bodie’s investment vehicle is now the largest outside shareholder of the VFC Operating Committee (more here).

• Ogilvy Invests In Article 41. Ogily, a global PR agency, has invested in Article 41, an agency focused on athlete creators and NIL deals. As part of the new partnership, Vickie Segar, co-founder of Article 41, has been appointed as Global Chief Sports & Entertainment Officer, a new role at Ogilvy. Article 41 co-founder Ben Gildin is also taking on a senior role supporting Ogilvy’s sports & entertainment strategy and client partnerships. Financial details were not disclosed (more here).

Quick update before you keep reading…

If you haven’t heard, Vetted Sports has evolved into a private membership network for investors and dealmakers operating in the sports asset class.

Think private events, curated introductions, and exclusive deal flow.

In other words, you’ll get access to rooms where the people around you are actually making moves in this space, without the noise.

Our board of advisors includes some of the most prominent names in sports investing, and membership is by application only. Spots are also capped.

If you think you belong or want to learn more: www.vettedsports.com

Now, back to your regularly scheduled newsletter.

• Harvey AI, Golden State Warriors & Golden State Valkyries Announce Partnership. Harvey AI, a leading AI legal startup, has announced a multi-year partnership with the Golden State Warriors and Valkyries, becoming the Official AI Legal Partner of both organizations. Through the partnership, Harvey will have a presence across Chase Center, including in-arena signage, broadcast-visible branding, and integrated game night experiences. There will also be opportunities for Harvey to engage customers through curated events and experiences in San Francisco (more here).

• Fanatics & FIFA Announce Partnership. Expanding on their wide-ranging relationship, FIFA and Fanatics have signed a long-term, exclusive collectibles licensing deal that features trading cards, stickers, and trading card games. The agreement covers both physical and digital collectibles. As part of the deal, Fanatics will support youth football globally by distributing more than $150 million in collectibles at no cost throughout the lifetime of the partnership. FIFA also drops its partnership with Panini as a result (more here).

• Electronic Arts & Visa Announce Partnership. EA Sports has agreed a multi-year collaboration with Visa, focused around its FC26 video game franchise, while also extending across selected titles for US audiences. The deal is designed to bring branded rewards and experiences into gameplay, with EA FC 26 as a primary focus. New in-game activations are set to feature in the company’s flagship title, including a dedicated “Visa Objective” and “Visa Live Game Mode”, where players can unlock time-limited rewards tied to Ultimate Team mechanics such as Squad Building Challenges (more here).

• Doppel & New York Knicks Announce Partnership. Madison Square Garden Sports Corp $MSGE ( ▼ 2.33% ), the holding company for the New York Knicks, announced a new partnership with Doppel, naming the AI social engineering defense platform an Official Partner of the team. Doppel’s brand will be showcased at the Knicks home games at Madison Square Garden, including through in-arena contests and Gardenvision features during the Knicks' regular season. Also, the Knicks digital channels will feature Doppel in a variety of ways, including a content series on the Knicks social channels (more here).

• Genius Sports & Liga MX Announce Partnership. Genius Sports has announced a new technology and AI partnership with Liga MX, Mexico’s top-flight soccer league. Through a multi-faceted collaboration, the GeniusIQ data and AI platform will be deployed across every Liga MX stadium. GeniusIQ combines tracking, video, and insights to power real-time advertising activations, augmented broadcasts, semi-automated offsides, and data-driven coaching tools. The platform was launched in 2024 and is already in use by several major soccer competitions, including the English Premier League, French Ligue 1, and Belgian Pro League (more here).

• PWHL Announces Detroit Expansion. The Professional Women’s Hockey League (PWHL) announced an expansion to Detroit next season, adding a ninth franchise at a time of record growth for the league. With the addition of Detroit, the PWHL will now have five American teams to Canada’s four. The team will be known as PWHL Detroit until its name and logo are revealed, and will play at Little Caesars Arena. The PWHL has plans to expand by between two and four markets additionally (more here).

• Celtics & 49ers Investors Prepare Seattle Seahawks Bid. Investors Aditya Mittal, Wyc Grousbeck, and Vinod Khosla have emerged as potential bidders for the Seattle Seahawks, according to reports from Sportico. Mittal and Grousbeck, both tied to the Boston Celtics, reportedly submitted a joint letter of interest to the investment group handling the potential sale. Khosla has also submitted his own letter of interest to Allen & Company, though details are limited. The franchise is now estimated to be worth between $6 billion and $8 billion (more here).

• Golden State Valkyries Becomes Women’s Sports First $1B Team. CNBC released its ranking of the most valuable WNBA franchises in 2026, and the Golden State Valkyries topped the list with a $1 billion valuation. The Valkyries’ unprecedented valuation is mostly driven by a league-high $78 million in revenue generated during their inaugural 2025 season. Joe Lacob and Peter Guber paid a $50 million franchise fee just 3 years ago, already yielding a 20x return on their investment. After Golden State, the top five are the New York Liberty ($600 million), Indiana Fever ($560 million), Las Vegas Aces ($500 million), and Seattle Storm ($450 million) (more here).

• LALIGA Launches GOALITOS. LALIGA announced the premiere of the first episode of GOALITOS, its first original children’s series. The animation project combines entertainment, education, and advanced generative AI technology to offer a space dedicated to young viewers, while reinforcing the values of sport in a safe and engaging environment. The series will be distributed weekly via LALIGA’s broadcasters, its own channels and digital platforms, including a dedicated page on the LALIGA website, its YouTube channel (via youtube.com/goalitos), and other environments within its digital ecosystem (more here).

• Why This Athlete-Led Agency Is Going All-In On Women's NIL. Learfield, one of college athletics' premier partners for marketing, technology, ticketing, sponsorship, media, and digital assets and data insights, is leading in the Name, Image, and Likeness space, thanks to its focus on hiring former athletes, especially women. According to Learfield, 70% of their NIL team members are either former student-athletes or former college administrators (more here).

This week’s guest on the Vetted Sports podcast is Thomas Salas.

Thomas Salas is the Co-Founder & CEO of Faves.

Faves is a digital platform that offers athletes ownership, brand proof, and fans real access all in one place.

The platform launched a few months ago with hundreds of athletes and a $3 million funding round.

In this episode, we discuss:
‣ Why he decided to start Faves
‣ Raising $3 million, and how the platform is different from other platforms
‣ Thoughts on the future of the athlete creator economy

Check out the full episode here: Apple | Spotify | YouTube