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The deal included private equity firm and MLB, NBA, NHL, and PLL investor Arctos Sports Partners as a limited partner. In January, Smith Entertainment Group and David Blitzer - co-owner of the Philadelphia 76ers, New Jersey Devils, Cleveland Guardians, and Crystal Palace - purchased RSL for $400 million.

Previously, global mining company Rio Tinto paid $2 million annually for naming rights.

Formerly known as Rio Tinto Stadium, the venue will be renamed America First Field.

Major League Soccer club Real Salt Lake has reportedly secured a stadium naming rights deal with America First Credit Union worth nearly $100 million over 15 years, per Sportico.Īs part of the pact, America First - a federally chartered credit union based in Utah that has partnered with RSL since 2005 - will have branding and activations throughout the venue. Tonal adds to a growing list of connected fitness companies restructuring their businesses following an initial pandemic boon. The San Francisco-based company has yet to become profitable since its launch in 2015. Before the pandemic, Tonal’s workforce stood at just over 110 employees and currently sits at roughly 750. In July, Tonal announced it’s slashing 35% of its workforce and plans to cut back on advertising to alleviate customer acquisition costs, according to CNBC.

To date, the company has raised $450 million in fresh capital.

GARETH BALE FIFA 21 SERIES

In March 2021, Tonal raised $250 million in Series E funding at a $1.6 billion valuation.It is subject to terms, including the latest investors being paid first if Tonal is ever sold.

The round will allow Tonal to continue growing amid ongoing supply chain constraints.

The potential funding round for Tonal - already backed by a star-studded group of investors including Serena Williams, LeBron James, Mike Tyson, and Drew Brees - is expected to include existing investors like private equity firm L Catterton and Dragoneer Investment Group. Fitness company Tonal is looking to raise $100 million in financing in a deal that would value the company at $1.9 billion, according to Bloomberg.