The National Football League yesterday was rocked by a racial discrimination lawsuit, brought by recently fired Miami Dolphins head coach Brian Flores. It could change the way teams are bought and sold, and even may put a new one in play.

Inside the suit: Flores, who hopes his complaint will become a class action, mostly focuses on hiring practices — including alleged "sham" interview processes with the New York Giants and Denver Broncos. But his list of request injunctive reliefs includes:

"Ensure diversity of ownership by creating and funding a committee dedicated to sourcing Black investors to take majority ownership stakes in NFL Teams."

What to know: The NFL has more barriers to ownership entry than any other major North American pro sports league. Part of this is cost. Part is a requirement that only individuals can become principal owners, and those individuals must be able to pay cash for at least a 30% stake. Plus, there are limits on the size of ownership groups.

• The league has zero Black owners, and only two owners of color (one of whom is a co-owner with her husband). Around 70% of NFL players are Black.

Kickoff: Flores' suit could be the catalyst that forces the NFL to relax its ownership rules, whether or not it heeds his investor-sourcing committee prescription. This could increase ownership diversity; not only in terms of race, but also in terms allowing private equity and corporate participation.

• And if the NFL is going to make such changes, which are much easier than rooting out systemic racism in hiring, it could do so right now in an impactful way.
• The Denver Broncos, yesterday were officially put up for sale. There's has been talk that Vista Equity founder Robert Smith had interest in his hometown team, but that seems to have died down. Unclear if his tax fraud issues played into the equation.
• The Miami Dolphins could be next, as Flores alleges that owner Stephen Ross offered him extra cash to throw games. If proved true, the Old Boys Club may have no choice but to boot one of its charter members, particularly as the NFL has cozied itself up to legal gambling outfits.

One caveat is that the NFL is already in bunker mode, claiming there's no merit to allegations that it hasn't yet had time to investigate. Tough to make moves when your head is buried deep in the sand.

• The Broncos and Dolphins also denied Flores' charges.

The bottom line: Flores is forcing lots of issues, at great professional risk, including who gets to sit in the owners boxes.

SeaWorld (NYSE: SEAS) has offered to buy Cedar Fair (NYSE: FUN), a Sandusky, Ohio-based theme park and hotel operator.

Why it's the BFD: The theme park industry is back at that part of the roller coaster where it cautiously rises higher. SeaWorld reported record revenue and profit in Q3 2021, while Cedar Fair reported record net revenue and in-park per capita spending.

Details: No financial terms were disclosed, but Bloomberg and Reuters reported a $3.4 billion equity value. Cedar Fair shares opened trading yesterday at $50, which represented a $2.84 billion market cap, closing up 12.4% to $56.20 per share. The company also carries around $3 billion of debt.

Bonus: Sources say that Michelle Brock remains the prettiest gal in Sandusky, but no word on how often she visits Cedar Fair.

The bottom line: "The potential deal indicates that consolidation may be ramping up in the theme park industry, which remains fairly fragmented in the U.S. despite being dominated by a half-dozen major players. SeaWorld and Cedar Fair have both been subject to takeover speculation through the years." — Ed Hammond, Bloomberg

• KOHO, a Toronto-based personal savings and prepaid card startup, raised C$210m in Series D funding. Eldridge led, and was joined by HOOPP, Round13, BDC and insiders Drive Capital and TTV Capital. http://axios.link/LSnX

• Island, a secure web browser for businesses, raised $100 million over two rounds from firms like Insight Partners and Sequoia Capital. http://axios.link/tj0c

• PlexTrac, a Boise, Idaho-based cybersecurity company, raised $70m in Series B funding. Insight Partners led, and was joined by insiders Madrona Venture Group, Noro-Moseley Partners and StageDotO Ventures. www.plextrac.com

• Dune Analytics, a Norwegian crypto analytics company, raised $69.4m in Series B funding at a $1b valuation. Coatue led, and was joined by Multicoin Capital and Dragonfly Capital. http://axios.link/O2Hh

• Pecan AI, an Israeli predictive analytics platform for enterprises, raised $66m in Series C funding. Insight Partners led, and was joined by S-Capital, GGV, Dell Technologies Capital, Mindset Ventures and Vintage Investment Partners. http://axios.link/kzkM

• Rudderstack, an SF-based open source customer data platform, raised $56m in Series B funding. Insight Partners led, and was joined by insiders Kleiner Perkins and S28 Capital. www.rudderstack.com

• Torii, a New York-based automated SaaS management platform, raised $50m in Series B funding. Tiger Global led, and was joined by insiders Wing VC, GFC, Uncork Capital, Entree Capital and Scopus Ventures. www.torrihq.com

• Stoggles, an LA-based DTC protective eyewear provider, raised $40m from The Chernin Group. www.wearstoggles.com

🌎 Zero Acre Farms, a vegetable oil alternative startup, raised $37m in Series A funding. Lowercarbon Capital and Fifty Years co-led, and were joined by S2G Ventures, Virgin Group, Collaborative Fund and FootPrint Coalition. http://axios.link/pDRK

• OpenGamma, a London-based financial software-as-a-service firm, raised $21m led by Allianz X. http://axios.link/ugWt

• Melonn, a Colombian provider of fulfillment and software services to Latin American SMBs, raised $20m in Series A funding. QED Investors led, and was joined by NFX, Pear and Wollef. http://axios.link/zAo9

• Midnite, an esports betting platform, raised $16m in Series A funding. Raine Group led, and was joined by insiders Makers Fund and Venrex. http://axios.link/VajB

• Launch House, which runs month-long programs for entrepreneurs and other techies, raised $12 million in Series A funding led by Andreessen Horowitz. http://axios.link/iBik

• Nestcoin, an African web3 app builder, raised $6.5m in seed funding from backers like Alameda Research, Distributed Global, Alter Global, Serena Ventures, A&T Capital, MSA Capital and 4DX Ventures. http://axios.link/LYNc

🚑 Synapticure, a Chicago-based teleneurology startup focused on patients with ALS, raised $6m in seed funding. GV led, and was joined by LifeForce Capital, Martin Ventures, Byers Capital and YC. www.synapticure.com

• Underlining, a Miami-based beauty and wellness products maker, raised $6m in seed funding led by Nordic Eye VC. www.underlining.co

🚑 CertifyOS, a New York-based healthcare credentialing and licensing startup, raised $4.6m in seed funding. Upfront Ventures led, and was joined by Max Ventures, Arkitekt Ventures, Goldline Ventures and Hustle Fund. www.certifyos.com

• Casava, a Nigerian digital insurance startup, raised $4m led by Target Global. http://axios.link/4F3L

• NachoNacho, an SF-based SaaS product marketplace, raised $3m in seed funding. AltaIR Capital led and was joined by Moving Capital, PMC and s16vc. www.nachonacho.com

• Voldex, a Montreal-based gaming startup focused on user-generated content, raised $3m led by Dune Ventures. www.voldex.com

• WYL, a New York-based landlord review site, raised $2.1m in seed funding led by BlackOps Ventures. http://axios.link/Fsyb

🚑 Afya Rekod, a Kenyan digital health data platform, raised $2m in seed funding. MaC VC led, and was joined by Next Chymia. www.afyarekod.com

🚑 Blackstone and Carlyle Group are in talks to partner on a bid for Sandoz, the Novartis (NYSE: NVS) generic drugs unit that could fetch around $25b, per Bloomberg. Other possible suitors reportedly include Advent International, KKR and Hellman & Friedman. http://axios.link/9uH8

• Ardurra Group, a Tampa-based portfolio company of RTC Partners, bought Pevida Highway Designers, a Miami-based transportation civil engineering firm. www.adurra.com

• Arsenal Capital Partners acquired ATP Group, a Swiss maker of water-based adhesive tapes. www.atp-ag.com

• Auxo Investment Partners bought Ferrovia Services, an Auburn, Ala.-based provider of vegetation management services to railroads and the U.S. Department of Transportation. www.ferroviallc.com

• BigHand, a London-based portfolio company of LLCP, acquired Iridium, a Reno, Nev.-based legal business intelligence software provider, from Polaris Partners. www.bighand.com

• Clearlake Capital Group completed its $5.4b purchase of Quest Software, an Aliso Viejo, Calif.-based provider of enterprise management software, from Francisco Partners.

• CGI Automated Manufacturing, a Romeoville, Ill.-based portfolio company of Core Industrial Partners, bought Richlind Metal Fabricators, a Chaska, Minn.-based provider of precision sheet metal fabrication and machining services. www.richlindmetals.com

• GardaWorld, a portfolio company of BC Partners, acquired Carrollton, Texas-based cash automation tech company Tidel from Littlejohn & Co. www.tidel.com

• Generation Growth Capital and Aldine Capital Partners bought Killer Instinct, a Windom, Minn.-based maker of branded crossbows and archery accessories. www.killercrossbows.com

• Pendo, a Raleigh, N.C.-based customer analytics platform valued at $2.6b by firms like Thoma Bravo, acquired product manager community Mind the Product. http://axios.link/Qu0f

🚑 USACS, a Canton, Ohio-based portfolio company of TowerBrook Capital Partners and Apollo Global Management, acquired Alteon, a Germantown, Md.-based outsourced health services firm backed by such firms as Frazier Healthcare Partners, Sverica and New Mountain Capital. www.alteonhealth.com

• Win Brands Group, a New York-based omnichannel retail platform, raised $40m led by Orangewood Partners and acquired outdoor products brand Love Your Melon. http://axios.link/lEdv

• Wynnchurch Capital invested in Premier Franchise Management, a Granite Bay, Calif.-based residential pool-build and pool-service franchisor. www.premierpoolsandspas.com

• Zepz, a London-based money transfer service previously known as WorldRemit, is prepping a U.S. IPO at around a $6b valuation, per Bloomberg. It’s raised over $1b from firms like Accel, Farallon Capital Management, TCV and LeapFrog Investments. http://axios.link/udG4

• MariaDB, a Finnish open-source database development startup, agreed to go public at an implied $672m valuation via Angel Pond Holdings (NYSE: POND), a SPAC led by Theodore Wang (ex-Goldman Sachs) and Alibaba co-founder Simon Xie. MariaDB had raised $95m from firms like SmartFin Capital, GP Bullhound, Alibaba, Intel Capital, Runa Ventures, California Technology Ventures, HighBar Ventures, ServiceNow and OpenOcean. http://axios.link/FELu

🚑 Healthcare Merger II, a healthcare SPAC co-led by ex-Magellan CEO Steven Shulman, a withdrew registration for a $300m IPO. http://axios.link/FoDR

• Prime Number Acquisition I, a financial sector SPAC, filed for a $60m IPO. http://axios.link/qJ9D

• Anduril Industries, a defense tech company valued by VCs at $4.6b, bought Dive Technologies, a Quincy, Mass.-based developer of autonomous underwater vehicles that had raised around $10m from firms like Mill Town Capital and Tannis Venture Management. http://axios.link/q0xE

• ConsenSys, a blockchain company valued by VCs at $3.2b, acquired MyCrypto, a Redondo Beach, Calif.-based wallet for managing ethereum accounts that had been backed by Polychain Capital. http://axios.link/myRX

• Fortress Investment Group, a unit of SoftBank, is seeking a buyer for British plane leasing firm Falko Regional Aircraft, per Bloomberg. http://axios.link/Xgle

• KKR is considering a sale or IPO process for Optiv Security, a Denver-based cybersecurity firm that could be valued above $3b, per Reuters. http://axios.link/pS8y

• Carlyle Group’s global credit group agreed to buy iStar’s (NYSE: STAR) net lease business at an enterprise value of around $3b. www.istar.com

🎲 Playtech (LSE: PTEC) shareholders reportedly are set to reject a £2.1b takeover offer for the British gambling software maker from Australia’s Aristocrat Leisure (ASX: ALL). http://axios.link/b4rw

• Saudi Aramco invested $118 million for a 7.4% stake in Norwegian industrial SaaS company Cognite, buying out Aker BP. www.cognite.com

• Coller Capital raised $1.4b for its first credit secondaries fund. www.collercapital.com

• D.E. Shaw is raising $500 million for a private equity fund, per Bloomberg. http://axios.link/Ut5V

• Great Hill Partners raised $4.65b for its eighth growth equity fund. www.greathillpartners.com

• Looking Glass, a VC firm led by Adam Besvinick (ex-Deep Fork Capital, Anchorage Capital Group), raised $8.5m for its debut fund. www.lookingglass.vc

• Marathon Ventures, a Colombian VC firm, raised $26m for its debut fund. http://axios.link/9oOc

• Steve Carre and Dan Posternak left UBS to launch a private funds advisory group at Lincoln International. www.lincolninternatonal.com

• Rebecca Converse joined Pritzker Private Capital as head of global strategic partnerships. She previously was managing principal of Cycle Communications. www.ppcpartners.com

🌎 Anne Kolton joined SK Capital Partners as its first chief sustainability officer. She previously was with the American Chemistry Council. www.skcapitalpartners.com

• Dean Pernisie joined VSS Capital Partners as a strategic partner. He previously was a principal with Gemini Investors. www.vss.com

• Blake Robbins joined VC firm Benchmark as a venture partner. He previously was with Ludlow Ventures. http://axios.link/gCkD

🌎 Matt Trevithick, former COO of Google Quantum AI, joined DCVC as a partner focused on climate tech deals. www.dcvc.com

• William Blair promoted Beth Satterfield to COO. www.williamblair.com

• Churchill George Yong joined Ara Partners as a partner in charge of infrastructure investing. He previously was a managing director with ArcLight Capital Partners. www.arapartners.com

Last week we reported that 2021 was a record year for PE secondaries deals, but a new Evercore report suggests that the times will keep booming.

• There's over $100 billion in dry powder dedicated to secondaries, with another $73 billion expected to come online by year-end.