Washington - SB Nation, a new network of sports-related blogs, has raised a "mid-seven-figure" sum of venture capital financing led by Accel Partners, SportsBusiness Journal reports.

Other investors included Allen & Co.; AOL vice chairman Ted Leonsis; Northgate Capital managing director Brent Jones; former Yahoo executives Dan Rosensweig and Jeff Weiner; and several former executives from Providence Equity Partners.

The year-old, Washington-based start-up counts more than 150 local team sites, which are operated by local writers.

The company's model gives writers equity stakes in SB Nation and a share of ad revenues, in return for the rights to their content and related assets.

SB Nation is headed by chairman Jim Bankoff, former chief of programming at AOL, and president Tyler Bleszinski, whose Athletics Nation blog was a template for the company, according to SBJ.

Related Links:
http://www.sportsbusinessjournal.com/article/60379

http://blog.sbnation.com/2008/10/29/649137/sportsblogs-nation-gets-fu