Dick’s Sporting Goods Leads $120M Investment in Unrivaled Sports: A Strategic Bet on Youth Sports Growth

The youth sports landscape is undergoing a transformation, and Unrivaled Sports—a startup backed by billionaire sports moguls—is at the center of it. In May 2025, the company announced a $120 million funding round led by Dick’s Sporting Goods, valuing it at over $650 million. The deal marks a significant bet on reshaping how young athletes engage with sports, combining physical infrastructure, technology, and community outreach.

The Rise of Unrivaled: A Consolidation Play in Youth Sports

Founded in late 2023 by David Blitzer (co-owner of the Philadelphia 76ers and New Jersey Devils) and Josh Harris (owner of the Washington Commanders and Activision Blizzard), Unrivaled aggregates high-profile youth sports assets such as Ripken Baseball, Cooperstown All Star Village, and Under the Lights Flag Football. These properties, now part of a 15-venue network across 30 U.S. states, host over 600,000 young athletes annually.

The company’s strategy hinges on three pillars: expanding access to underserved regions, upgrading facilities, and elevating programming. Recent acquisitions, including the Big League Dreams complexes in Las Vegas and Rocker B Ranch in Texas, underscore its ambition to become a nationwide destination for youth sports.

The Dick’s Sporting Goods Partnership: More Than Capital

Dick’s Sporting Goods, through its venture arm DSG Ventures, took a minority stake in the $120 million round. The partnership extends beyond funding: it aims to integrate Dick’s retail and tech assets into Unrivaled’s ecosystem.

• Cross-Promotion: Dick’s stores will advertise Unrivaled events, while Unrivaled venues will stock Dick’s gear.
• Technology Synergy: Dick’s owns GameChanger, a $100 million revenue platform used by 9 million youth sports participants for scorekeeping and event management. Unrivaled could leverage this tool to streamline logistics and enhance fan engagement.

Strategic Investors and Growth Priorities

The round also attracted Dynasty Equity, LionTree, and Miller Sports & Entertainment, bringing expertise in sports real estate and team ownership. Key growth areas include:
1. Flag Football Expansion: Participation rose 30% in 2024, and Unrivaled plans to host major events like the NFL Flag Championship (at ForeverLawn in Ohio) and a national girls’ flag football championship.
2. Facility Upgrades: Re-turfing fields, expanding lodging (e.g., Cooperstown’s bunk housing), and modernizing amenities like foodservice and retail.
3. Inclusion Initiatives: Expanding Ripken Baseball’s free clinics and scholarships to underserved communities.

Valuation Nuances and Challenges

The $650 million valuation cited by an anonymous source contrasts with CEO Andy Campion’s emphasis that the $120 million represents a minority stake, implying a lower implied valuation. This discrepancy reflects the sector’s complexities: youth sports businesses often struggle with inconsistent revenue models, though Unrivaled’s asset-heavy, destination-based approach offers predictable income from venue operations and event sponsorships.

The Bigger Picture: A Sector in Flux

Youth sports is a $25 billion U.S. market, but it’s fragmented and under-invested. Unrivaled’s consolidation strategy—bolstered by Dick’s and other strategic partners—positions it to capitalize on trends like:
- Rising demand for “sportainment” experiences blending athletics with family vacations.
- The growth of flag football, which the NFL has endorsed as a safer alternative to tackle football.
- Tech-driven solutions to streamline registration, scheduling, and fan engagement.

Conclusion: A Calculated Gamble with Long-Term Potential

Unrivaled’s $120 million round is a watershed moment for a sector ripe for innovation. With Dick’s providing both capital and operational synergies, and new investors adding real estate and sports expertise, the company is well-equipped to scale its footprint and programming.

The numbers tell the story:
- 600,000 athletes and 2 million attendees annually, with Cooperstown All Star Village setting a record attendance high in 2025.
- 30% year-over-year growth in flag football participation, a category now including 715 teams at the 2024 Youth Flag World Championship.
- $100 million in GameChanger’s revenue hints at the untapped potential of tech integration in youth sports.

While valuation debates linger, Unrivaled’s focus on sustainability—prioritizing profitability by year three—and its alignment with Dick’s mission to “democratize athletic opportunity” suggest this investment could be a catalyst for industry-wide change. For investors, the bet is less about short-term gains and more about owning a piece of the future of youth sports—a future where every kid, regardless of background, has a chance to thrive.