Weekly Roundup: Business of Athletes, Sports, & NIL (July 1-9)
NFL RB joins a big $6M investment, Joey Chestnut makes millions eating food, and why USC + UCLA might signal the end of the NCAA.
4:08 - Business of Athletes
WNBA players Diani Taurasi, Breanna Stewart, and Sylvia Fowles are investing kid’s food brand Yumi.
Jonathan Taylor is now involved with muscle data company Strive. He joined their $6M Series A round led by Future Communities Capital.
Kylian Mbappe is investing in NFT-powered fantasy soccer platform SoRare.
7:30 - Name, Image, and Likeness
Jaden Rashada’s $9.5M deal
Paying college athletes
Power 5 restructuring
10:30 - Future of Sports
FanRally, a ticket subscription membership service, has raised $3 million in equity financing led by Capital One Ventures.
KB Sports Partners have said they may invest over $200M in sports tech by 2025.
NFLPA, acquired an equity stake in Sports Data Labs, who creates new fan engagement opportunities.
Kairos Sports Tech, an Irish sports team and athlete scheduling software, has raised £500,000 ($611,000).
Endeavor is buying sports betting platform OpenBet for $800M.
ChromaWay, a blockchain technology company, has made a €2 million ($2.14 million) strategic investment in VRM, a sports-centric Web3 company.
Sportlight, a startup that provides player-tracking insights for EPL clubs, has raised $4.75 million in funding.
Major League Eating is technically a professional sport so here we go:
Joey Chestnut has won 14/15 Hot Dog Eating competitions, with his only loss being in 2015 to Matt Stonie.
Why do I bring that up?
Because Matt Stonie has a YouTube channel where he posts videos of him devouring food.
His channel brings in roughly $6,000/day or $2,190,000/year.
The stats are somewhat interesting — but my main point is that thanks to the internet athletes have the ability to monetize at far greater scales than ever before.
Short Passage of The Week
It's a new month ― let's put down some things as we move through July.
Being mean to yourself when you fall short.
Not clearly communicating your needs.
Deprioritizing yourself to win people over.
Overcommitting to things you don't want to do.
Emotionally draining friendships and relationships.
"When you ask for clarity and peace in your life, don't be surprised when you start shedding the people, places, and things that don't align with what you're asking for."
Source: Alexandra Elle, How We Heal
A nice breakdown on how to approach a 10k:
Worth a read (especially if you approach it with no bias from the start)👇
Wanted to provide you with some interesting financial facts today, there’s enough gloom going around.
The world’s first bank, Monte Dei Paschi Siena, was founded in 1472 and headquartered in Tuscany, Italy (it’s still around today).
Until the Federal Reserve was created in 1908, individual banks were allowed to create their own money.
The United States generates more than 20% of the world's GDP with about 4% of the world's population.
“Patience is bitter, but its fruit is sweet” — Aristotle
In a rushed world, it’s important to fall in love with the process. I’m constantly reminding myself that it’s the person who loves walking that gets farther than the person who is trying to get to a destination.
Thanks for listening and reading The Petcash Post today!