The vehicle, co-founded by former NFL players Terrence C. Murphy Sr. and Reggie Bush, targets properties outside America’s big four leagues, prioritizing measurable growth over established scale. A first deal, in USL Championship soccer, has already closed.
Synergy Sports Capital is establishing an inaugural fund of $150 million for the acquisition of controlling stakes in sports properties outside the big four leagues of the US and presenting “measurable growth in viewership, sponsorship, and cultural momentum,” such as one finds in “women’s sports and next-generation formats,” as the press release reads.
Synergy will be integrating these stakes into its “Synergy Sports Operating System – a centralized platform that combines technology deployment, data analytics, media strategy, and stadium-anchored real estate development and sports-adjacent businesses.”
In short, the fund seeks to put its money where growth is probable rather than in assets that have achieved scale.
As advertised, the fund has one deal already done: with Atlético Dallas, of the USL Championship – the American division below Major League Soccer (MLS). However, that deal’s announcement (August 2025) suggests that Synergy’s founder and Managing Partner, Terrence C. Murphy Sr., acquired the equity stake as an individual investor.
Deals in the works?
Murphy tells Front Office Sports (FOS) that he is an investor in the United Pickleball Association (UPA), although we find no mention of him in any announcement of or reporting on its fund-raisings: merger raise ($75m, Feb. 2024), bridge loan ($10m, Jan. 2025), second raise ($15m, July 2025). According to The Dink (which draws from Huddle Up, Joe Pompliano’s Substack), UPA is planning to raise another $150 to $200 million.
About the partners
Murphy played one season in the NFL, as wide receiver for the Green Bay Packers, until an injury obliged him to retire. His immediate move (2006) was to invest in real estate. He joined real-estate firm Stillwater Capital as a Limited Partner in 2010, right about the time he founded his own brokerage, Terrence Murphy Team. Other company foundings ensued – about a hundred of them, purportedly. And the resulting companies are now held by a single entity, Terrence Murphy Companies.
In July 2025, a month before the Atlético deal, Murphy took an equity stake in Third Coast Renegades Angling Club, one of 16 regional franchises in the Sport Fishing Championship (SFC). His fellow owners are Rob McGowan (President & CEO, R3), Warren Fisher (founder & CEO, Manole Capital) and Garrett Frazier (Managing Director, Frazier Companies; co-founder, Anetik Performance).
Synergy has one other Partner on record: Reggie Bush, a retired running back who played for the New Orleans Saints, Miami Dolphins, Detroit Lions, San Francisco 49ers and Buffalo Bills. Bush has since worked as a sportscaster for Fox and ESPN.
According to FOS, which has interviewed both him and Murphy, Bush is the founder of The Athletes Tour, or The United Athletes Tour – a golf league for professional athletes, with as yet no presence online. Whatever it’s called, Murphy believes the league “fits perfectly” within Synergy’s scope.
Bush is known also for winning the Heisman trophy (2005) only to have it stripped from him and restored 14 years later. According to Deadline (2024), Bush has a contract with Paradigm Talent Agency and with his wife has founded a production company, R+L Production, to make a documentary about the trophy affair.
