Victory+ Replaces Chief Executive After Losing Three Major Sports Partners
Dallas, Sunday, 2 August 2026.
Sports streaming service Victory+ replaced founder Neil Gruninger as chief executive after losing three major team broadcast partners in just fifteen days over missed payment obligations.
Executive Leadership Change at Victory+
Victory+, a sports streaming service owned by A Parent Media Co. Inc. (APMC), has replaced founder Neil Gruninger as chief executive officer following a period of significant operational turbulence [1][2]. The leadership transition was confirmed on 2026-07-30, marking the end of Gruninger’s tenure as CEO amidst reports of financing difficulties and partner departures [1][4]. Board member Jon Spencer of TriWest Capital Partners has been appointed as the new CEO to steer the company through this restructuring phase [1][2]. Gruninger, who co-founded the Calgary-based business 15 years ago in 2011, will transition to a role focused on technology, innovation, and strategic relationships [1][2]. The company stated that Gruninger will continue to drive long-term vision and business development where he has consistently delivered value [1].
Rapid Loss of Broadcasting Partners
The executive exit highlights a volatile 15-day period during which the platform lost three major broadcasting partners due to missed rights fee payments [1][3]. The National Women’s Soccer League (NWSL) terminated its deal with Victory+ on 2026-07-24, following similar departures by the Texas Rangers and Anaheim Ducks earlier in July 2026 [2][3]. These terminations occurred after Victory+ requested contract renegotiations to address unsustainable rights fee obligations, which the partners declined [2][3]. The NHL’s Ducks, MLB’s Rangers, and the NWSL all cited the platform’s failure to pay agreed-upon rights fees as the primary reason for ending their contracts [1][3]. This exodus represents a significant contraction from the company’s expansion plans announced earlier in the year, which included a partnership with the NWSL scheduled to begin in March 2026 [5].
Financial Strain and Operational Downsizing
Victory+ faced an inability to secure crucial financing required to fund significant rights fees for potential NBA and NHL team deals [1][3]. Attempts to expand by pitching a free-stream concept to 20 NBA and NHL teams, including conditional deals with the Magic, T-Wolves, and Hornets, failed due to this lack of financing [1]. Consequently, the company intends to downsize and pursue exclusive deals with teams and leagues willing to renegotiate terms under a more manageable revenue-sharing model [1][3]. The platform continues to broadcast content for the NHL’s Stars, who hold equity in Victory+, and the WNBA’s Lynx and Dream via advertising revenue shares without rights fees [1][2]. The viability of the platform’s remaining operations depends heavily on the commitment from the Stars for the 2026-27 NHL season [1].
Strategic Outlook and Market Position
Jon Spencer expressed confidence in the business evolution, noting his long-standing belief in the company’s power while serving on the board [2]. The Dallas Stars, a founding partner and equity owner, described their current relationship with the platform as status quo despite the surrounding turmoil [2]. Victory+ aims to target more WNBA teams under the same advertising revenue share model used for the Lynx and Dream as part of its revised strategy [1]. However, the company does not appear positioned to compete with larger bidders like DAZN or Fubo for major league rights in the immediate future [3]. The shift underscores the ongoing volatility within regional sports broadcasting networks as direct-to-consumer platforms scramble to secure sustainable media rights agreements [1][2].