Note from the CEO: OK OK, yes it is a fintech news site (kinda like the name FintekNews) but sometimes we do “stretch it” a little so nobody get bored. Think of this as our Sports Section. Reason? These athletes are all on record of investing in…….fintech firms. So, NFL + venture firm = fintech. Get it?
Here is a very novel way to start a new venture capital firm. The NFL players union is getting investment capital (millions) from well established venture investors and the players are tossing in their “fame”. The group is called “The One Team Collective” and will leverage the football player’s images for equity in sports-oriented startups. It’s a very cool and interesting read and, remember, most of the players individually have tech investments (hence the link).
“The National Football League players union is starting a venture group, using athletes’ collective cachet, not cash, as investment capital alongside millions from established investors including Kleiner Perkins Caufield & Byers LLC and Madrona Venture Group LLC.
The OneTeam Collective, as the group is called, is designed to trade the rights to football players’ images for equity in sports-oriented startups. It’s a unique proposition. Other tech investors in the pro sports world, including Kobe Bryant, the L.A. Dodgers and the Philadelphia 76ers, put up seed capital but not intangible assets like marketing rights.
When it comes to NFL players, those rights are valuable. Companies like Electronic Arts and Nike pay the NFLPA handsomely to use the players in commercials, video games and other promotions.”