Two billionaire sports team owners are going public with a banking app designed to assist low- and middle-income users.

Dave, which helps people avoid overdraft fees, manage accounts, and find gig work, is merging with a SPAC called VPC Impact Acquisition Holdings III at an approximate valuation of $4 billion. The fintech platform has more than 10 million users and was valued at $1.2 billion last year. 

The app is backed by Dallas Mavericks owner Mark Cuban, his Mark Cuban Companies, and The Kraft Group, the conglomerate founded and run by New England Patriots’ owner Robert Kraft.

Cuban has investments across the landscape of sports-related companies.

• Mark Cuban Companies owns or has stakes in the Mavericks, their G-League affiliate, esports team Mavs Gaming, sports data giant Sportradar, and fantasy sports gambling site Underdog Fantasy.
• Cuban was part of a $40 million round for sports memorabilia seller Goldin Auctions in February.
• He sold his $90 million stake in sports analytics firm Synergy Sports in 2019 to Atrium Sports, in a deal that brought in Eldridge Investments, part-owned by Dodgers owner Todd Boehly.
• Cuban has invested in the Professional Futsal League and esports betting platform Unikrn.

In addition to the Patriots, Gillette Stadium, and the surrounding Patriots Place business area, Kraft Group owns MLS’ New England Revolution and Boston Uprising of the Overwatch League.

Worth $6.9 billion, Kraft is the 18th-richest sports owner in the world, per Forbes. Cuban has a reported net worth of $4.4 billion.

Team SoloMid, ranked the most valuable esports organization in the world in 2020, announced an exclusive 10-year, $210 million naming rights partnership with FTX. 

The deal is the largest of its kind in competitive gaming history.

“We think that TSM will be able to help massively expand the presence of digital assets outside the traditional landscape,” said Sam Bankman-Fried, the 28-year-old billionaire founder of FTX.

The cryptocurrency exchange is having a milestone year. In March, it finalized a 19-year, $135 million deal to take over naming rights for the Miami Heat’s arena — one of the most expensive naming rights deals ever.

TSM will now be called TSM FTX, and the $210 million will help the team expand into mobile and accelerate its global reach.

Founded by entrepreneur and former esports athlete Andy Dinh in 2009, TSM had a valuation of $410 million in 2020, per Forbes. It fields players in global gaming hits like “League of Legends,” “Fortnite,” and “Super Smash Bros.”

The $21-million-a-year partnership measures up to naming rights deals in major pro sports:  

• Barclays’ deal with the Brooklyn Nets ($20 million per year). 
• Citibank’s deal with the New York Mets ($21 million per year).
• Allegiant’s deal with the Las Vegas Raiders (between $20 and $25 million per year). 

TSM FTX is set to distribute cryptocurrency to each of its players and employees and will purchase $1 million in FTT, FTX’s flagship digital token.

Manchester United has reportedly decided to offer ownership shares in the team in an effort to win back the trust of its fans.

The program will offer a new class of shares that carry the same voting rights as those held by its owner, American billionaire Joel Glazer, who is also a co-owner of the Tampa Bay Buccaneers.

A new fan advisory board will also be created to give supporters more influence over the organization, according to a Bloomberg report.

Shortly after Avram Glazer put $97 million worth of his Manchester United shares up for sale in March, the $4.2 billion club faced scrutiny over joining the short-lived European Super League.

Fans were outraged by the decision, protested, and rejected an apology.

“Actions speak louder than words, and he and his family have shown time and again that their sole motivation is personal profit at the expense of the football club,” the 200,000-member Manchester United Supporter Trust said in a statement.

The Glazers took over in 2005, when the team was worth $1.5 billion. Thousands of fans were forced to sell shares to the family in a “compulsory buyout,” per Financial Times.

Last week, Glazer attended the team’s forum for the first time in more than 15 years.

“Fans are the lifeblood of Manchester United, and I am personally committed to ensuring that they are given an enhanced vote,” Glazer said.