A new $7 billion investment firm named Blacksun has launched, bringing together former Obama administration officials, media executives, and prominent athletes with the stated goal of altering the landscape of professional sports investment. The firm is positioned at the intersection of sports, media, technology, and real estate.
Blacksun is led by Atonn Muhammad, a former Miami Hurricanes football player and founder of the Real Hip-Hop Network. Nick Rathod, a political operative who served in the Obama Administration and managed Beto O'Rourke's gubernatorial campaign, is the chief of strategy and global communications for Blacksun. Rathod expressed a desire to move away from what he described as the "old model" of team transactions, where "several good ol boy billionaires" move franchises among themselves without community benefit.
Among the firm's strategic priorities is the potential revival of the Seattle Supersonics NBA team. Blacksun is reportedly forming an ownership group to pursue this goal and is exploring a partnership with a Native American tribe. The proposed plan involves securing a lease on tribal lands to construct a new arena and entertainment district, with the tribe potentially becoming stakeholders in the venture.
The NBA is officially considering expansion teams in Seattle and Las Vegas, according to reports. The league reportedly adjusted its rules in 2025 to permit greater private equity ownership in teams.
Blacksun also intends to establish new sports leagues, including the World American Football League and a combat sports league named Knockout Fights. The firm's backers include athletes such as boxer Roy Jones Jr., Lawrence Taylor, and Gary Clark, alongside former media executives like Ross Levinsohn, who previously held positions at Yahoo, Fox Sports, and the LA Times.
The fund's capital was raised from high-net-worth individuals and institutional investors, with assistance from Dubai-based Greenstone Equity Partners.
