Weekly Roundup: Business of Athletes, Sports, & NIL (February 6-19)
Travis Kelce entering the alcohol business, NIL getting serious in Florida, and an NBA player launching a $750M sports fund.
I go beyond the headlines for these stories in the podcast.
(1:05) - Feel good stories
Figure skating star Yuna Kim has donated $100,000 to aid earthquake recovery efforts in Turkey and Syria.
Michael Jordan has donated $10M to Make-a-Wish.
(2:50) - Business of Athletes
Carmelo Anthony is co-launching a $750 million sports-focused private equity fund alongside former WWE executives.
Super Bowl champ, Travis Kelce, has become an investor/partner in Casa Azul Spirits alongside legendary beverage founder Lance Collins.
Tom Brady is jumping right into acting post-retirement with a performance in the comedy, 80 For Brady.
Penn State Quarterback Sean Clifford sold his agency, Limitless NIL, for multiple 7 figures to TEAM Group Holdings.
(6:15) - Name, Image, and Likeness
BrinxTV which owns the NIL House has acquired a stake in the NIL marketplace, Icon Source.
Athlete brand-building firm Firestarter announced a formal partnership with Pittsburgh-based sponsorship sales and consulting agency CohnCollab.
Ohio State’s two NIL collectives THE Foundation and The O Foundation are merging.
Former Oklahoma football coach, Bob Stoops, compared NIL to the ‘NFL Without Any Salary Cap
Florida Governor Ron DeSantis signed a measure that will allow colleges and universities to help athletes get endorsement deals.
(10:30) - Future of Sports
Bluestone Capital announced an inaugural $300 million growth equity fund focused on the sports, media, and entertainment industries.
The sports tourism market is expected to grow USD $559.75 Billion between 2022 and 2027 at a CAGR of 12.88%.
Blockchain-based fantasy cricket platform, Sportiqo, has launched in India allowing users to invest or trade players, just like stocks.
The Premier League is close to agreeing on a six-year deal with video game giant Electronic Arts worth close to USD $603 million.
Stack Sports has acquired Meridix, a streaming platform for sports.
The WNBA and Athletes Unlimited are partnering to bring more women's basketball to fans.
AI content creation platform, ScorePlay, has received investments from APEX Capital and 35 Ventures. German soccer player Mario Götze is an angel investor.
PENN has acquired the remaining interest in Barstool Sports for approximately $388 million.
Being a backup Quarterback in the NFL is often a lucrative gig.
Money made per pass in the NFL:
Matt Flynn — $53,845
JaMarcus Russell — $57,890
Jimmy Garoppolo — $67,447
Taysom Hill — $113,391
Chase Daniel — $153,218
Short Passage of The Week
Each day is a unique opportunity to transform self-sabotage into self-mastery.
You are the most constant thing in your own life:
Befriend yourself first.
Invest in yourself first.
Become yourself first.
The rest will come together in time.
Source: Brianna Wiest, The Pivot Year
This newsletter was featured by Ciler Demiralp in her latest edition of the Newsletter Circle.
Great interview — check it out if you want to learn more about what goes into the releases every week.
Athlete x Business = ✅
A cap table (or capitalization table) is a document, like a spreadsheet or a table, that details who has ownership in a company.
It lists all the securities or number of shares of a company including stock, convertible notes, warrants, and equity ownership grants.
Cap tables are important because they tell you who owns how much of your company.
Accurate cap tables also play a major role in due diligence for potential investors or venture capitalists who are considering investing in your startup.
“Focus on the journey, not the destination. Joy is found not in finishing an activity but in doing it.” - Greg Anderson
Thanks for tuning in today!