Weekly Roundup: Business of Athletes, Sports, & NIL (June 12-18)
55+ athlete investments this week, 2023 NCAA revenue/expenses by school, and more interesting developments.
First off, Happy Father’s Day to all the dads tuning in today.
(1:05) - Business of Athletes
50+ pro athletes have invested in the online travel marketplace GetYourGuide — Justin Jefferson, Jason Kelce, and Khris Middleton headlined it
Soccer stars Chris Smalling and Jesse Lingard have invested in the $3M pre-seed round of One Future Football, a virtual soccer league.
Record $56.6M in prize money at Wimbledon this year (up 11.2% YoY).
Michael Jordan is selling his majority stake in the Charlotte Hornets at a $3B valuation.
(5:50) - College Sports/NIL
The IRS has muddied the water around NIL collectives and their tax-exempt status.
(8:40) - Sports Business
FIFA has announced its pay structure ahead of the Women’s World Cup in July and the payouts will be $110M (up from $30M four years ago).
GameOn, a fantasy sports platform, has secured $1.7M in financing from Lightning Capital and Flow.
The MLB is looking into possibly curbing the spending of clubs in areas outside player salaries (technology, player development, scouting, and health).
Arctos Sports Partners, a private equity firm, is in the final stages of negotiations for a minority stake in the Tampa Bay Lightning, according to Sportico.
Tagboard, a Seattle-area startup that helps sports, news, entertainment, and other brands produce live broadcasts, raised another $4 million.
USA Today released NCAA revenue & expenses for 232 schools:
See the full chart here:
*private institutions aren’t listed
Short Passage of The Week
You can control:
Your time and effort
Your vision and habits
Your health and friends
Your attitude and honesty
Your humility and mindset
Your network and integrity
Your thoughts and reactions
“You may not control all the events that happen to you, but you can decide not to be reduced by them.”
Passage by Dr. Maya Angelou
Info on the IRS memo about NIL collectives here:
19-year-old British soccer star Jude Bellingham has signed a six-year deal with Real Madrid.
Real Madrid will pay an initial £88.5m for Jude Bellingham but the deal could rise to £115m - a record deal for a British player.
Bellingham is the third player signed by Madrid for a €100+ million fee, joining Gareth Bale (2013) and Eden Hazard (2019).
Next up for young European players…
19-year-old French basketball player Victor Wembanyama, who will be the 1st pick in this year’s NBA draft (June 22nd).
I came across 12 business lessons from successful entrepreneurs:
Forget the haters
Believe in yourself
Set your own trends
Solve a burning problem
Learn from your mistakes
It’s not all about the money
Value your team and employees
Constantly improve and reinvent
Don’t waste time dwelling on ideas
Create something of value & dream big
The customer is the one that truly matters
The process is more important than the destination
Passage by Career Advice
“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice, and most of all, love of what you are doing or learning to do.” - Pele
Thanks for tuning in today!