Gannett, publisher of USA Today and more than 100 daily newspapers in the U.S., landed a deal with a major sports betting company.

The five-year, $100-million agreement with Tipico USA Technology is a first-of-its-kind deal for a major U.S. newspaper publisher. It reportedly includes $90 million in media spend, with Tipico providing sports betting content throughout the USA Today Network.

In May, Gannett recorded a decline in first-quarter revenue but its digital subscription business is growing. 

Ark Invest estimates the U.S. sports betting market will hit $37 billion by 2025 — a significant increase from the current $9.5 billion figure.

• Eleven states have passed the $1 billion wager mark.
• In the first three months of 2021, sports betting revenue reached $961.1 million, according to the American Gaming Association.

The sports audience for Gannett is already established. The network has a footprint in 46 states with roughly 200 sports websites after being acquired by GateHouse Media in a $1.38 billion deal two years ago.

Tipico’s foray into the newspaper industry isn’t the first time a betting company has teamed up with a media outlet. The Associated Press, Barstool Sports, CBS Sports, and ESPN have all partnered with sports betting companies.

Technavio expects the global sports betting market to grow by $134 billion from 2020 to 2024.

Hyperice announced its acquisition of mental wellness company Core on Tuesday, creating a new division that looks at opportunities beyond physical wellness. 

Terms of the deal were not disclosed, but sources told FOS that prior to the acquisition Core was in the midst of a funding round at a post-money valuation of $40 million. 

The acquisition comes at a time when mental health is at the forefront of wellness.

Core is designed to help people improve their focus and mental strength. The company’s products, which retail starting at $179 with a premium option available for $249, include a mediation trainer and access to meditations. 

Through the acquisition of Core, Hyperice enters a global meditation apps market that is expected to reach $4.2 billion by 2027. 

It also marks the third acquisition for Hyperice in less than two years. 

• Last year, it acquired NormaTec, an innovator of cutting-edge pneumatic compression systems.
• It also acquired RecoverX, a San Diego-based company that specializes in intelligent thermal tech.

Following a $48 million funding round in October that included Patrick Mahomes, Russell Westbrook, and Lindsey Vonn, Hyperice is valued at $700 million. 

Hyperice has signed a bevy of partnership deals within the last year that include agreements with the NBA, UFC, WNBA, and the English Premier League.

Editor’s Note: Hyperice is an FOS partner.

Sporting Kansas City announced on Tuesday that Kansas City Chiefs quarterback Patrick Mahomes has joined the Major League Soccer club’s ownership group. 

The investment in Sporting KC adds another team to the NFL superstar’s portfolio, which now includes stakes in multiple sports franchises in Missouri.

The MVP of Super Bowl LIV also owns a minority stake in the Kansas City Royals, while fiancée Brittany Matthews is co-owner of Kansas City NWSL. 

The 25-year-old signed a record contract extension worth up to $503 million in 2020 and stays busy off the field, too. 

• Last year, Mahomes joined Hyperice, an athletic recovery technology company, as both an ambassador and investor. Other ambassadors include Naomi Osaka, Ja Morant, and Juju Smith-Schuster. 
• He signed a multiyear partnership in August with BioSteel. The sports nutrition company inked a deal with NBA star Luka Dončić in March.

The average MLS team is worth $550 million, up from $313 million in 2019, per Sportico.

Sporting KC is ranked 10th in MLS with a total value of $550 million following revenue of $25 million in 2020 — down from $45 million due to the global pandemic.

Sporting Kansas City is owned by Sporting Club, which is comprised of local business and community leaders.