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Two separate groups are focused on turning track and field into a major TV sport outside of the Olympics cycle.

Why it matters: An influx of new pro sports leagues are arriving as the need for live sports has never been greater for media companies.

Driving the news: Two track and field leagues, including one backed by Michael Johnson, are currently fundraising ahead of their planned launches next spring, both co-founders tell Axios.

Grand Slam Track is backed by Johnson and Winners Alliance, an athlete licensing and sponsorship firm co-founded by tennis star Novak Djokovic. The league has already raised $30 million, with the majority of that coming from Winners Alliance, co-founder Steve Gera says.

The other league is a head-to-head competition series called Duael Track, co-founded by sports and ticket industry veterans Ben Schragger and Barry Kahn. Kahn founded dynamic ticketing startup Qcue.

Both Gera and Schragger argue that track and field's lack of footing in the U.S. — the sport is more broadly popular in Europe — stems not from a lack of popularity but rather poor TV distribution and small prize money for winners.

"The classic track format is not made for broadcast," Schragger says. "The space has been really fragmented. We've got over 400 professional meets globally, not to mention anything with the IOC."

Those two aren't the only ones trying to make track and field work outside the Olympics.

Alexis Ohanian's venture capital firm 776 will host a women-only track event in September called the 776 Invitational.

The big picture: After years of helping to grow international sports, investors are paying more attention to fledgling U.S. sports leagues, Gera says.

"People have started to kind of look around and say, 'You know what, I can't invest in the NFL. I can't invest in the NBA.' ... But there's still a real yearn and a need for live sports," Gera says.

Women's sports has been one of the biggest beneficiaries, with recent funding examples including Women's Elite Rugby, Unrivaled, and record sums for franchise sales and media rights for the NWSL and WNBA.

K. Don Cornwell, CEO of Dynasty Equity, co-led TMRW Sports' recent funding round. He believes cricket and motorsports could be ripe for the same kind of experimentation that TGL — a TMRW-backed, team-style indoor golf league — is doing with golf.

"As we get into the first season and people see it and feel it, that'll get the creative juices flowing," he says.

Other leagues backed by Tiger Woods, Shaun White and Brianna Stewart begin play next year.

Unrivaled, an offseason pro women's basketball league from Stewart and fellow WNBA player Napheesa Collier, also begins play in January.

White is launching a new snowboarding tour that holds its first meet in March.

Women's Elite Rugby is also set to debut next spring.

Track and field latest sports league to rush the field

Two separate leagues are raising funds ahead of spring debuts.

Noah Lyles of Team United States crosses the finish line to win the gold medal in the Men's 100m Final during the Paris Olympics.

Noah Lyles of Team United States crosses the finish line to win the gold medal in the men's 100-meter final during the Paris Olympics. Photo: Cameron Spencer/Getty Images.

Sports

Two separate groups are focused on turning track and field into a major TV sport outside of the Olympics cycle.Why it matters: An influx of new pro sports leagues are arriving as the need for <a class="gtmContentClick" data-vars-link-text="live sports" data-vars-click-url="https://www.axios.com/2024/07/24/nba-tv-deals-espn-comcast-amazon-tnt" data-vars-content-id="3c725ed2-1ec1-4bef-809d-7f1578543968" data-vars-headline="Track and field latest sports league to rush the field" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/07/24/nba-tv-deals-espn-comcast-amazon-tnt" target="_self">live sports</a> has never been greater for media companies.

Track and field latest sports league to rush the field

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