Weekly Roundup: Business of Athletes, Sports, & NIL (July 16-22)

The Petcash Pod 🌐

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Messi: The billion-dollar businessman, new $120M sports fund (sort of), and more important headlines.

Jul 23, 2023

Additional athletes named as investors in Leeds United include Michael Phelps, Myles Jack, Erik Johnson, and Gabe Landeskog.
Former NFL star Cliff Avril has joined the ownership group of the D.C. Pickleball Team (DCPT) in Major League Pickleball.
Mario Götze invested in the machine learning training and hosting platform Tromero.
Snowboarder Scotty James has become an investor & advisor in the X Games.

Tennessee avoided a football postseason ban from the NCAA thanks to NIL and the state’s power over its legislation.
On3 and OneTeam Partners signed a data licensing agreement to track player movement in the transfer portal.
SEC Commissioner Greg Sankey says only Congress can truly set a national standard for NIL compensation in college athletics.
Dwayne “The Rock” Johnson welcomed 7 college athletes into the brand’s inaugural NIL class for his brand ZOA Energy.
Three US Senators are entertaining federal legislation they believe would protect college athletes’ economic, health, and educational rights.

Britain's Entain has acquired U.S.-based Angstrom Sports for up to $266M.
Sports and music marketing agency Wasserman acquired CSM Sport & Entertainment company.
Scrum Ventures, a Japanese venture capital firm, announced their $120M sports fund.
The Green Bay Packers reported financial results for the 2022 season that included revenue of $610 million (up 5.35% from last year).

The US Women’s Soccer Team began play in the FIFA World Cup this past week.

Here’s where the 23 players are from: ⚽

Biggest surprise looking at this…no players from Texas.

6 skills that will ALWAYS be in demand:

"If we want people to fully show up — we have to be vigilant about creating a culture in which people feel safe, seen, heard, and respected."

Source: Alan Stein, Jr., Sustain Your Game

I enjoyed this Netflix documentary following NFL quarterbacks Patrick Mahomes, Marcus Mariota, and Kirk Cousins.

The behind-the-scenes stuff is amazing…sports documentaries like this are going to continue to dominate the market.

Messi scored the gaming-winning goal in his first game for Inter Miami on Friday.

Check out his business empire here:

Getting venture capital funding can be hard…

A study of almost 900 venture capitalists found that, on average, of about 101 proposals a VC fund considers, only one of them gets funding.

But who do you turn to if you need money to keep the business growing?

Angel Investors.

Here are the benefits of having angel investors:

Flexibility. Angels can invest however they see fit because it’s their own money. They can help your business in its very early stages, in some cases even before it starts operating.
Control. In general, angel investors come into the business at reasonable terms and don’t overstep their boundaries.
Personal experience. Angels often have a background and experience as entrepreneurs in the same kind of business as yours, and they understand the challenges of a startup.