Synergy Sports Capital, the US-based private equity firm, has made a strategic investment in League One Volleyball (LOVB), the nascent women’s volleyball league, to acquire operating rights for the LOVB Salt Lake team.
The investment company is led by former NFL American football players Terrence C. Murphy Sr. and Reggie Bush and recently announced an inaugural $150 million fund to invest in sports leagues and teams.
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Through Synergy, Murphy, Bush, and their partners plan to expand resources for the Salt Lake team.
LOVB chief growth officer Stephanie Alger, with assistance from Proskauer Rose, led the deal negotiations with the Salt Lake ownership group.
On the deal, Alger said: “Synergy is exactly the kind of ownership group we look to partner with as LOVB grows. They understand both the opportunity in professional women’s volleyball and what it takes to build successful teams, combining athlete leadership with strong investment experience.”
LOVB Salt Lake debuted in January 2025 and is now in its second season. The team’s roster features two-time Olympic medalists Jordyn Poulter and Haleigh Washington, and Japan’s 2024 Olympian Manami Kojima.
LOVB launched last year as a six-team league, with sides also in Atlanta, Austin, Omaha, Madison, and Houston.
All matches initially aired on the League One Volleyball streaming hub before international sports broadcaster ESPN picked up rights for the first season, which ran from January to April. Under that deal, ESPN aired 10 LOVB matches across its networks, while 18 matches also streamed via ESPN+.
Last September, LOVB and Versant, the media company that now houses NBCUniversal’s cable television networks, entered a multi-year tie-up, while the league further strengthened its domestic coverage by securing streaming service Victory+ as a new broadcast partner in December.
The debut LOVB campaign saw significant commercial growth, with matches sold out and merchandise sales surpassing $1 million. League and team social accounts also reached over 29.3 million, with over 191 million impressions and over 39.9 million views of match content across LOVB platforms.
In terms of outside investment into LOVB, late June 2025 saw high-profile sports investors David Blitzer, Peter Holt, and Amy Griffin come in as the owners of the league's Austin team.
The Austin team, which won the league’s inaugural finals, was the first LOVB team to become private, at that point.
In October, it was announced that a franchise in Los Angeles would be established, backed by prominent sports investor and Reddit co-founder Alexis Ohanian, and would enter the league in 2027.
On Synergy coming in as the latest ownership group, Sandra Idehen, commissioner of LOVB Pro, added: “When we look for owners, we look for leaders who see what this league can become, not just what it is today.
“Terrence, Reggie, and the Synergy team understand the journey of elite athletes, the cultural power of sports, and how to build businesses that last. Their investment in LOVB and leadership of the Salt Lake team strengthens our foundation as we build the next great professional league in America.”
The second LOVB Pro season will conclude with the championship game on April 19.
