Billionaire businessman and philanthropist Ulysses Lee “Junior” Bridgeman has died at the age of 71. After a well-respected 12-year career in the NBA, Bridgeman built a successful fast-food empire of over 450 restaurants and later acquired EBONY and Jet Magazine. Bridgeman’s death On March 11, Bridgeman suffered a medical emergency at a fundraising luncheon in Louisville, Kentucky. He later died. Bridgeman’s daughter Eden Bridgeman, EBONY CEO said “It is with profound sadness that I share the news of my father’s passing. During this time, my family and I respectfully request privacy as we grieve
FanUp, a hub for Gen Z and female sports fans, has announced an exclusive strategic financing round with Tru Skye Ventures and 9.58 Ventures. Tru Skye Ventures, the $100 million sports tech fund co-founded by NBA Champion Metta World Peace and former Boost Mobile CEO Stephen Stokols, teamed up with 9.58 Ventures, a high-grade set of investors and trendsetters promoting groundbreaking technological innovation across society. Traditional sports betting currently only serves less than 9% of American fans. FanUp engages a more expansive and expanding audience through a creative, free-to-play model that provides users
Boston Celtics star Jaylen Brown announced his latest initiative, Oakland XChange, which will support underrepresented business owners and creators in Oakland. This initiative follows the success of his nonprofit Boston XChange (BXC), where he also created similar opportunities for underrepresented business owners, according to Boston Celtics. What is Oakland XChange? Similar to his first nonprofit, Oakland XChange will provide underrepresented creators in Oakland with $100,000 in grant funding, workspaces, and business services valued at more than $150,000. The entrepreneurs will also be offered three years of coaching and receive assistance
Scoreplay, a media management startup, raised $13 million in a series A funding round. The round included notable investors such as NBA star Giannis Antetokounmpo, soccer star Alex Morgan, and Alexis Ohanian’s Seven Seven Six VC fund. The AI-driven platform provides tools that allow teams and leagues to automate the ordering and distribution of content. This clarifies what is usually a complicated process with different types of media spread over numerous software platforms. Scoreplay helps users discover content faster by accelerating new content production and streamlining delivery to athletes, broadcasters,
Just days before leading the Philadelphia Eagles to a historic Super Bowl win against the Kansas City Chiefs in New Orleans, running back Saquon Barkley announced he had joined Ramp as an investor. The New York-based financial operations platform is designed to save companies time and money and is Barkley’s largest private technology investment. “I’ve always believed a winning mindset applies to every part of life,” Barkley said in a press release. “If you want to dominate, you don’t switch off when the clock hits zero, and I demand that
HBCU alumni Terry Comer and Khalil Thompson have raised $2.25 million for NIL FanBox in a seed funding round led by sports tech venture capital firm KB Partners. The subscription platform delivers autographed college memorabilia to sports fans’ doors every season, sharing profits with student athletes and their schools. What’s the story behind NIL FanBox? NIL FanBox’s website states that it is 100% university-approved and endorsed by the players. “They [FanBox] make it super easy for players to engage directly with fans,” Drake Maye from the North Carolina football team said.
Mark Clayton, a former NFL player, raised $1 million in funding for his LIVV Audio brand of high-performance headphones he designed in high school. The wide receiver, who spent most of his seven-year career with the Baltimore Ravens, created the headphones for athletes and those interested in fitness. Clayton’s Idea Clayton started designing the concept for his headphones while studying business administration and management at Babson College. However, the idea for the headphones came to Clayton during his pool-based rehab sessions after recovering from a knee injury when he joined the
Players Health, founded by former athlete Tyrre Burks, has secured $60 million in Series C funding to expand its mission of ensuring safety in youth sports. Led by Bluestone Equity Partners, the funding round also included Mosaic General Partners, RPM Ventures, SiriusPoint, and TriplePoint Capital, bringing the total raised to over $100 million. A Former Athlete’s Vision for Change Tyrre Burks founded Players Health to address the challenges he experienced as an athlete playing Division II football team while attending Winona State University, then in Europe and the Canadian Football
Former NBA star Metta Sandiford-Artest, formerly known as Metta World Peace, is launching a $100 million venture fund focused on sports technology, digital media, and wellness innovations. The fund, Tru Skye Ventures, is a partnership with ex-Boost Mobile CEO Stephen Stokols and is slated to raise the capital by the first quarter of 2025, according to Sportico. Tru Skye Ventures aims to back early-stage startups, combining capital with expertise in product development, brand partnerships, and growth marketing. Targeting Innovation in Sports and Wellness Tru Skye Ventures has already announced an
SpringHill, the media company co-founded by NBA star LeBron James, reported a $28 million loss for 2023 on $104 million in revenue, according to a Bloomberg report. The company, which reported a $17 million loss in 2022 and has yet to turn a profit, continued to face challenges in 2024, along with the rest of the industry. However, it recently announced a new merger, and with it, hopes of profitability. Challenges in a Changing Market SpringHill’s struggles mirror those of other production companies founded during the streaming boom. As platforms
