May 14 โ€ข 14M

Weekly Roundup: Business of Athletes, Sports, & NIL (May 1-14)

Aaron Rodgers $150M fund II, more pickleball athlete owners, and interesting stats around game times.

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Appears in this episode

Andrew Petcash
Insightful convos with the founders, athletes, and investors transforming the future of sports.
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Audio Timeline:

(1:20) - Business of Athletes

  • NBA forward Kevin Love invested in the Series A round of Thesis, a maker of personalizedย brain supplements focused on mental performance.

  • Burnley FC received minority investments from retired NFL star JJ Watt and his wife Kealia Watt, a former NWSL soccer player.

  • Aaron Rodgerโ€™s RX3 Ventures has raised $150 million from athletes and celebrities for its second consumer-focused growth equity fund.

  • NFL linebacker Kayvon Thibodeaux and NBA guard Spencer Dinwiddie have become team owners in the US Masters T10 cricket league.

  • More MLP pickleball team owners have surfaced in Josh Allen, Jayson Tatum, Haley Jones, and Zach LaVine.

(6:30) - College Sports/NIL

  • Attorneys for the NCAA and the Power Five conferences filed a 50-page brief opposing a motion for class certification in In Re College Athlete NIL Litigation (also called House v. NCAA).

  • Over 40 college athletes at Iowa & Iowa State have been suspended for gambling in violation of NCAA policies.

  • Highly-touted transfer Hunter Dickinson reveals he made ~$100,000 at Michigan opening up his decision to transfer to Kansas.

  • Technology provider Stack Sports has partnered with NIL solution, Icon Source, to help build a marketplace for high school athletes.

  • The Chicago White Sox have signed 8 more college athletes, adding to their CHISOX Athlete NIL roster.

(10:25) - Sports Business

  • Rich Paulโ€™s Klutch Sports Group acquired ELITE Athlete Management, bringing over 35 NFL clients including Odell Beckham Jr.

  • Trace has unveiled an AI-based PlayerFocus platform that spotlights individual soccer players and aggregates their footage into a single short-form video.

  • Jake Paulโ€™s micro-betting app, Betr, has acquired the gaming solutions platform Chameleon from FansUnite.

  • MLS and ai.io announced a partnership that will help grant soccer players a chance to be scouted by the league for free, without having to travel.

  • Florida Democratic donors are hoping to recruit NBA legends Dwyane Wade and Grant Hill to run for Senate against Rick Scott in 2024.

  • Former NFL player Tully Banta-Cain launches the first-ever Beach Football League (BFL) set to debut Terrell Owners, Jaime Collins, etc.


Interesting Stat

Pickleballโ€™s growth is wild ๐Ÿ‘€

2016 - 2023:

  • 12,000 courts โž” 44,000 courts

  • 2 million players โž” 36.5 million players

  • 0 professional leagues โž” 3 (MLP, APP, PPA)

Image

Short Passage of The Week

5 strategies to avoid getting stuck in a rut:ย 

  1. Make time every day to sit in stillness, self-reflect, and check in with yourself.ย 

  2. Aim to have people in your life that care enough about you to help you see your blind spots.

  3. Prioritize your self-care and make sure your own bucket is full.

  4. Focus on work that you find meaningful, in service of others, and that contributes to something bigger than yourself.

  5. Prioritize your personal development.

Source: Alan Stein, Sustain Your Game


Media

Saudi money has greatly impacted this yearโ€™s list of the worldโ€™s highest-paid athletes.


Interesting Stat #2

Average game times (in hours):

  • ๐Ÿ€ย NBA:ย 2:16

  • ๐Ÿ’ย NHL:ย 2:29

  • โšพ๏ธย MLB:ย 2:38

  • ๐Ÿˆย NFL:ย 3:02

  • ๐Ÿˆ FBS: 3:21

To me, the perfect amount of time is 2 hours.

Stats via NBA, NHL, NFL, Baseball Referree, SI


Business Jargon

1 million users is a big accomplishment for any tech companyโ€ฆ

This still blows my mind:

ChatGPT smoked all the records reaching it in 5 days. So I asked it how a new product could replicate the success.

Hereโ€™s what it said:

  1. ๐๐ฎ๐ณ๐ณ & ๐€๐ง๐ญ๐ข๐œ๐ข๐ฉ๐š๐ญ๐ข๐จ๐ง: This is achieved through effective marketing campaigns, teaser trailers, social media promotions, press releases, and influencer partnerships.

  2. ๐•๐ข๐ซ๐š๐ฅ ๐Œ๐š๐ซ๐ค๐ž๐ญ๐ข๐ง๐ : Implementing referral programs or incentives that reward users for inviting others to download the product can help generate viral momentum.

  3. ๐€๐ฉ๐ฉ ๐’๐ญ๐จ๐ซ๐ž ๐Ž๐ฉ๐ญ๐ข๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง (๐€๐’๐Ž): Using relevant keywords, crafting an appealing app description, creating eye-catching visuals, and leveraging positive user reviews and ratings is great for ASO.

  4. ๐–๐ข๐๐ž-๐‘๐ž๐š๐œ๐ก๐ข๐ง๐  ๐ƒ๐ข๐ฌ๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐ข๐จ๐ง ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ๐ฌ: Making the product available on multiple platforms and app stores can expand its reach. Supporting popular platforms include the web, iOS, and Android.

  5. ๐ˆ๐ง๐Ÿ๐ฅ๐ฎ๐ž๐ง๐œ๐ž๐ซ ๐Œ๐š๐ซ๐ค๐ž๐ญ๐ข๐ง๐ : Collaborate with thought leaders in relevant industries to create awareness, credibility, and a sense of trust around the product.

  6. ๐…๐ซ๐ž๐ž/๐…๐ซ๐ž๐ž๐ฆ๐ข๐ฎ๐ฆ ๐Œ๐จ๐๐ž๐ฅ๐ฌ: Offering the product for free without financial commitment lowers the barrier to entry and increases the likelihood of widespread adoption.

  7. ๐”๐ง๐ข๐ช๐ฎ๐ž ๐•๐š๐ฅ๐ฎ๐ž ๐๐ซ๐จ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง: Have a compelling value proposition that solves a problem, addresses a specific need, or offers a significant improvement over existing solutions.

  8. ๐๐จ๐ฌ๐ข๐ญ๐ข๐ฏ๐ž ๐”๐ฌ๐ž๐ซ ๐„๐ฑ๐ฉ๐ž๐ซ๐ข๐ž๐ง๐œ๐ž๐ฌ: Delivering a high-quality, user-friendly, and well-designed product is crucial. Word-of-mouth ensues if the product performs well, is intuitive to use, and provides value.

There's a lot more nuance to this...but overall that's a great playbook.


Quote

โ€œLuck has a peculiar habit of favoring those who donโ€™t depend on it.โ€œ โ€“ Unknown

Thanks for tuning in today!

Peace,

-AP