Weekly Roundup: Business of Athletes, Sports, & NIL (Jan 16-22)
$225M in new sports funds, Penn State NIL deal for every college athlete, and a wild stat that will impact the NFL.
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(0:30) - Feel good stories
Sport Clips Haircuts held an event where they also donated $1.5M toward veterans' scholarships.
NBA forward Kyle Kuzma is donating $1 million to the YMCA in his hometown of Flint, Michigan.
The Green Bay Packers are donating $100,000 to provide 80 Automatic External Defibrillators (AEDs) to schools in Wisconsin.
(2:05) - Business of Athletes/Sports
Olympic gold medal-winning sprinter Usain Bolt is missing more than $12.7 million from an account with a Jamaican private investment firm.
Harris Blitzer Sports and Entertainment announced that it has purchased a major stake in Ripken Baseball.
Deal Box is launching a $125M venture arm, where they will look at “FunTech”, which includes action sports.
LIV Golf has finally found a home on American TV after striking a deal with the CW Network.
The Tennis Channel has deepened its partnership with Major League Pickleball and will now air the league's semifinal and finals.
Sports-focused NFT company Candy Digital announced a Series A extension funding round following reports Fanatics was selling of its 60% stake in Candy Digital.
EP Golf Ventures has invested in Sensible Weather, a climate risk technology company that has a partnership with the PGA.
Courtside Ventures has completed a $100M sports fund, their 3rd which includes athletes investors such as Larry Fitzgerald and Shaquille O’Neal.
(7:15) - Name, Image, and Likeness
Curastory is partnering with Tempus Ex Machina to allow Pac-12 players to post content on their social media platforms and earn 50% of the ad revenue they generate.
Penn State’s NIL collective, Success With Honor, has secured contracts with at least 1 athlete from all 31 varsity sports teams.
The College Athlete Protection Act was presented in California, which would require the state's college sports programs to share revenue with their athletes.
The number of players who left college early for the NFL was on a steady rise for decades.
Two years into NIL, the number has fallen drastically.
Overall, the draft has seen a 36 percent drop in early entrants from the final pre-NIL year to today.
It will be interesting to see if basketball has a similar trend.
Short Passage of The Week
Keep the Vision Alive
Upgrade the vision.
Hold the vision.
Love the vision.
"Stop playing down your dreams. If fortune favors the brave, then it also prefers the bold.
You need to be daring. This isn't just because aiming higher inevitably raises your expectations overall, but also because boldness often tells you what you're actually capable of, though you might not yet believe it.
If you're willing to believe that something might be possible for you ― it already is."
Passage by Brianna Wiest
An interesting podcast episode I think you’ll enjoy.
The economics of college sports:
Referees play a crucial part in sports.
Here’s how much they make in the NFL:
Many new founders don’t understand that their ownership stake reduces over time thanks to dilution.
Dilution occurs whenever new (more) shares are issued (created).
The more primary dollars raised, the more dilution.
Passage by CJ Gustafson, Mostly Metrics
“The moment you give up is the moment you let someone else win” - Kobe Bryant
Thanks for tuning in today!