Weekly Roundup: Business of Athletes, Sports, & NIL (March 20-26)
Two NFL QB's buy women's sports teams, Charles Barkley rips politicians over NIL, and fundraising comes to alternative basketball.
(1:10) - Business of Athletes
TMRW Sports received an investment from Shaquille O’Neal, Dwyane Wade, and Kevin Durant.
England & Chelsea forward, Raheem Sterling has invested in the Afro-Caribbean grocery delivery service Oja.
NFL quarterback, Matthew Stafford, has invested in the NWSL team Angel City FC.
Tom Brady has purchased an ownership stake in the WNBA’s Las Vegas Aces.
(3:45) - Name, Image, and Likeness
Texas A&M receiver Jalen Preston signed a NIL deal with Gage Gandy Bail Bonds (one of the strangest I’ve seen to date).
Fairleigh Dickinson University has seen a 1,027% increase in page views since the start of the NCAA Tournament via Sidearm Sports.
NIL marketplace and solution, MOGL, has raised a $2.6M seed round led by Magarac Venture Partners.
Charles Barkley sounds off on politicians after being asked about NIL intervention during a CBS Sports broadcast, calling them all crooks.
(7:00) - Sports Business
Televised trampoline basketball league, SlamBall closed an $11M Series A round co-led by IA Sports Ventures and EbergCapital. Blake Griffin also invested.
NBC Sports Next and US Youth Soccer (USYS) announced a new multi-year technology partnership to build online and mobile content.
Youth sports organization Powers Gymnastics added $16.8M in a Series A round led by Relevance Ventures.
Came across some startup data I think you’ll enjoy:
15.4% of the US population is involved in startups.
It takes 2-3 years on average for startups to make a profit.
Only 40% of startups are profitable, and 1/3rd of startups continue to lose money.
61% of startups offer B2B solutions while only 39% of startups offer B2C solutions.
According to Steve Blank, a startup is a “temporary organization designed to search for a repeatable and scalable business model”, while a small business runs according to the fixed business model.
Short Passage of The Week
7 Rules of Life
Let it Go: Never ruin a good day by thinking about a bad yesterday.
Ignore Them: Don't listen to what other people think of you. Live a life that is empowering to you.
Give it Time: Time has a beautiful way of healing.
Don’t Compare: The only person you should try to beat is the person you were yesterday.
Stay Calm: It's okay to not have everything figured out. You'll get there.
It’s on You: You are in charge of your happiness and life design.
Smile: Life is short. Enjoy it while you have it.
Passage by Clint Hurdle
Also thanks to The NIL Deal for writing an article about me this past week: https://www.nildealnow.com/andrew-petcash-changing-how-talk-sports-heres-how/
Follow-Up Interesting Stat
Numbers of startups by country in 2023:
🇺🇸 USA = 77,399
🇮🇳 India = 17,144
🏴 England = 7,021
🇨🇦 Canada = 3,900
🇦🇺 Australia = 2,893
🇧🇷 Brazil = 1,176
🇳🇬 Nigeria = 816
🇸🇪 Sweden = 723
I have no clue how Startup Ranking calculates this but it’s interesting nonetheless.
Business Jargon: Affiliates
Affiliate marketing is a process where publishers earn a commission by promoting a product or service made by another retailer or advertiser using an affiliate link.
The affiliate partner is rewarded a payout for providing a specific result to the retailer or advertiser (usually a sale).
Funny enough, there are some companies built entirely on referring users to sportsbooks such as DraftKings and FanDuel.
The payout for 1 user is between $150-250 😲
“Maybe other people will try to limit me but I don’t limit myself.” – Jim Carrey
Thanks for tuning in today!