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The Black-owned water bottle brand SUPLMNT welcomes NBA player Gary Payton II as its latest investor. The brand was founded in 2020 by South Philadelphia, PA, native Jairus Morris, who aims to improve hydration in Black and brown communities. His journey as a founder was inspired by his mother, who took on multiple jobs to support the household of five children. “I grew up in a South Philly single-mother household with four siblings. My mother was my first inspiration and motivation to want to be an entrepreneur,” he said in an interview shared on Medium. “She always tried side hustles to bring in extra income for my family; whether it was selling Mary Kay or braiding hair, she did it. Moving us out of the ghetto in South Philly to a suburb in New Jersey was the best thing she could have done. It exposed me to see that there was so much more to life outside of the hood.” As an adult, he also mentioned recognizing disparities around health and wellness, which further inspired his...
British Formula 1 driver Lewis Hamilton is helping the next generation pursue science, technology, engineering, and mathematics (STEM) careers. In 2021, Hamilton launched Mission 44, a foundation named after his race car number, dedicated to creating equal opportunities for young people worldwide. According to its website, the initiative focuses on advancing education, expanding access to STEM and motorsport careers, and empowering the next generation to reach their full potential. Initiatives include a motorsport scholarship, created in partnership with the Royal Academy of Engineering, that connects students with industry leaders. Recipients include Gerren Ntir, who earned a bachelor’s degree in motorsport engineering and is now pursuing a master’s. He was part of the scholarship’s second cohort. “Having seen the amazing work Mission 44 has been doing throughout the past year, I knew it was something I wanted to become involved in. Now, embarking on my own journey as one of their...
Kevin Durant is looking to secure a WNBA team in the city where he played before being drafted into the NBA. The basketball star played at the University of Texas at Austin in 2006 for one year. ESPN reports that during his short time there, he became the Big 12 Player of the Year and earned a Naismith Trophy, the first time in history that a freshman won the award. His talents led him to the NBA in 2007. He was drafted by the Seattle SuperSonics — which no longer exist — in the first round as the second overall pick and secured a four-year rookie contract valued at $19.5 million, per Spotrac. Durant has gone on to become one of the league’s best players and secured two championship rings with the Golden State Warriors after a decade in the league. Now, Durant could be returning to his roots through team ownership. According to USA Today, sources involved in the process named him in a group looking to bid for a WNBA team in Austin, TX. The group also includes former Milwaukee Bucks...
Giannis Antetokounmpo is expanding his portfolio with a new investment tied to sports. Sportico reports the Milwaukee Bucks superstar is an investor in ScorePlay, an artificial intelligence -powered sports media management platform launched by Victorien Tixier (CEO) and Xavier Green (CTO) in 2021. Its solutions streamline sports organizations’ essential digital workflows by automating the management of photos and short video clips, its website mentions. Features among all its tiers include: Automated ingestion of photos and short videos Unlimitied AI tagging Usage analytics “The idea is to maximize the distribution, both on your own social channel, but also distributing the content to your athletes, who are your best storytellers,” Tixier told CNBC. ScorePlay had already attracted the attention of Kevin Durant and Rich Kleiman’s 35V family office, as well as Eli Manning, notes the outlet. Most recently, it has closed a $13 million Series A round led by Harry Stebbings’ 20VC, which...
Saquon Barkley has expanded his portfolio ahead of Super Bowl LIX, set for Feb. 9, 2025. The running back, wearing a No. 26 Philadelphia Eagles jersey, is heading to New Orleans, LA, to face the Kansas City Chiefs — a rematch of the 2022 Super Bowl matchup, ESNP reports. Barkley has combined his passion for sports and business and will be featured in a Super Bowl ad for Ramp, a financial operations platform that provides exclusive perks to over 30,000 customers. These perks include smart accounts payable, which processes bills in seconds, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping. Customers have saved upwards of $2 billion through Ramp, CEO and Co-Founder Eric Glyman mentioned in a press release. For these reasons, Barkley is not only endorsing the company through the commercial but is now an investor in the platform, the press release reported. “I’ve always believed a winning mindset applies to every part of life. If you want to...
Allen Iverson has made history in the world of memorabilia. Iverson is recognized as a legend in the NBA. He retired from the league in 2013 and was later inaugurated into the Naismith Memorial Basketball Hall of Fame. His name remains influential today, extending his impact beyond the court. The Virginia native currently serves as Vice President of Reebok Basketball (as of 2023), working alongside the President of Reebok Basketball, Shaquille O’Neal, to shape the next generation of the game. “We gonna do big things. We gon’ work hard. We gon’ give people what they want. We gonna take care of our youngsters,” he said in an interview uploaded to YouTube. Iverson’s involvement with Reebok also includes a lifetime deal. As AFROTECH™ previously reported, he initially signed a 10-year deal valued at $50 million when he was drafted to the league, securing a spot with the Sixers. In 2001, he earned a lifetime deal after the team made its way to the finals and earned MVP. He now receives...
Jim Reynolds is leading a vegan beverage brand that generates millions and is backed by notable athletes. Reynolds’ journey as a founder began in 1997. He had already spent several years on Wall Street before deciding to launch Loop Capital, a full-service investment bank, brokerage, and advisory firm that assists corporate, governmental, and institutional clients, according to its LinkedIn page. Inc. magazine reports that it is the largest Black-owned investment bank globally. Various deals have landed on the bank’s table, including one surrounding Coco5, a hydration beverage company. Its products are made with balanced sugars and no artificial dyes or flavors. They are also vegan, gluten-free, caffeine-free, and non-GMO. Inc. reports that as a health-conscious person Reynolds had already developed a taste for coconut water by the ’90, and heard about the company in 2011. He would go on to invest in Coco5 in 2015 and join its board. Over the next decade, Reynolds attracted the...
Tyrre Burks’ background in sports gave him an upper hand as a business founder. As AFROTECH™ previously reported, Burks is the founder of Player’s Health, a platform offering solutions including insurance, an athlete safety suite with education and training, injury management forms, incident reporting, compliance forms, and tools to support name, image, and likeness (NIL) deals, geared toward sports organizations, teams, leagues, and clubs. The inception of Player’s Health dates back to Burks’ time as a former college athlete who turned pro. Becoming an athlete was a means of escaping the realities of living on the Southside of Chicago, IL. “I had a choice and sports was one of ’em or the streets. And luckily, I chose football; I chose wrestling. I chose every sport that I could choose to keep me out of the streets. And that kept me safe. It kept me out of the streets, and it kept me out of trouble. And that led to college and professional football,” he said during a podcast...
Kyrie Irving had quite the year on the online marketplace StockX. The company, founded by Greg Schwartz, allows users to bid on or purchase shoes, streetwear, electronics, and collectibles, its website notes. To ensure a positive experience for all parties involved, several safeguards have been built into its platforms, such as a multi-step verification process, true market pricing, and security and fraud systems. According to information shared with AFROTECH, over 100 brands broke sales records in their marketplace. These include Saucony, Timberland, Polo Ralph Lauren, and Stanley. “The resale market proved its resilience in 2024,” said Greg Schwartz, StockX co-founder and CEO, in a statement shared with AFROTECH™. “Whatever 2025 has in store – whether it’s new names in streetwear, viral collectibles brands, or a fresh set of players in the sneaker space – our platform will continue to diversify to serve our customers as new trends take hold.” Moreover, Irving’s partnership with...
HBCU graduates Terry Comer and Khalil Thompson have secured new funding for their work in the NIL space. In 2021, the pair, who had an interest in college sports, united to launch NIL FanBox, marketed as the only “university-approved, player-endorsed recurring collectibles platform.” It works by sending sports fans 100% authenticated collectibles from their favorite college athletes. Its website mentions that the curated box includes three to five signed collectibles, a “Golden Ticket,” exclusive player merchandise, and digital authentication. One of its partnerships, with The University of Texas at Austin, resulted in the Longhorn FanBox, which is valued at $199 each football season and energizes fans by including “ultra-rare” collectibles and “behind the moment” interviews. Photo Credit: NIL FanBox While NIL FanBox certainly benefits fans, it also supports athletes by allocating a portion of its revenue back to them. NIL FanBox returns more than 30% of its revenue to participating...
Kevin Garnett broke away from the status quo with his financial decisions during his first decade in the NBA, opting for an unconventional approach that set him apart from his peers. The South Carolina native was drafted into the NBA in 1995 as the fifth overall pick by the Minnesota Timberwolves, notes ESPN. The power forward signed a three-year rookie contract worth $5,397,120, according to Sportico. He remained with the team for 13 years before being traded to the Boston Celtics. For the majority of his time with the Minnesota Timberwolves, Garnett had an unconventional way of keeping track of his paychecks, which he attributes to a lack of financial literacy. “I was kind of raised with a certain pedigree and mindset so I wasn’t introduced to wires or just fintech. I wasn’t financially savvy. I didn’t know about direct deposit. I didn’t know none of this,” Garnett admitted during an interview on “Jimmy Kimmel Live.” Garnett opted to cash his earnings and store it under his...
Dawn Staley continues to offer a guiding hand to basketball star Aliyah Boston. The pair first teamed up at The University of South Carolina. Staley serves as the school’s head coach of women’s basketball and is currently signed to a historic seven-year contract that has made her the highest-paid head coach in NCAA Women’s Basketball, as AFROTECH™ previously reported. Boston played under Staley’s leadership from 2019 to 2023. Together, they won one national titles against the University of Connecticut in 2022, notes NBC-10 Philadelphia. Boston’s collegiate career would position her as the school’s all-time leader in overall rebounds, offensive and defensive rebounds, blocked shots in SEC games, double-doubles, and triple-doubles, among others, according to the WNBA. She is also a four-time SEC Defensive Player of the Year, two-time National Player of the Year, and two-time SEC Player of the Year. Throughout it all, Staley has remained front and center as a fan even as Boston...
Coco Gauff has invested in women’s basketball. Unrivaled is a 3-on-3 basketball league announced in 2023 and founded by WNBA stars Napheesa Collier and Breanna Stewart. Each player participating in its first season was granted equity in the league, setting a precedence in sports. “For years, women have relied heavily on off-court sponsorships for a majority of their income,” Stewart said in a press release shared with AFROTECH™ . “With Unrivaled , we’re revolutionizing the game by prioritizing investments in our stars and ensuring their on-court performance is reflected in their pay.” Collier added: “With the growing popularity of women’s basketball and the WNBA, this is an opportunity for us to extend our visibility into the traditional basketball season. Breanna and I set out to create a league that would change the way women’s sports are viewed and ultimately how sports leagues operate. We may have had the vision, but this isn’t just our league – it belongs to the players, and...
Shaquille O’Neal went several years without spending a dime of his first NBA paycheck. O’Neal’s glory days in the league date back to June 24, 1992. He was drafted by the Orlando Magic as a first-round draft pick, according to ESPN. His initial contract was a four-year deal valued at $17,400,000, notes Spotrac. O’Neal’s talent and charisma made him a sought-after player among companies looking to endorse the young player. In fact, he sustained himself solely through his endorsements until he had his first child, Taahirah, in 1996. “I didn’t spend my first NBA check until I started having children. I had so much coming in, I was like, ‘NBA money over there, and I’ll just live off endorsement money,'” he said during a 2022 interview with Gayle King on “CBS Mornings.” When he became a free agent, he signed with the Los Angeles Lakers, ultimately leading to three national championship rings. He earned his fourth with the Miami Heat in his 14th career year. Beyond his success on the...
Chris Paul has shared an exciting update about one of his investments. According to its LinkedIn page, the former NBA star is an investor in PlayersTV, the first athlete-owned media network and content provider. As previously reported by AFROTECH™ , the network was launched in 2020 by Deron Guidrey and Collin Castellaw. PlayersTV offers athletes the opportunity to hold a stake in the company, with many also owning production companies. Notable athlete investors include Travis Kelce, Dwyane Wade, and Damian Lillard. “Dwyane Wade, Chris Paul, and Damian Lillard are just a few of the 50+ athletes on PlayersTV’s roster. All of our athletes each have their own production companies and unique content they want to share with their fans,” Guidrey previously told AFROTECH™. “PlayersTV unlocks this opportunity and enables them to share their content in an authentic and meaningful way . By partnering with PlayersTV, these athletes are able to connect with their fans on a larger scale through...