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There are clubs that no amount of charm or charisma can get you into. The kind where wealth isn’t enough if it isn’t old, where opportunity depends not on merit but on access, and where the real decisions are made behind velvet ropes and closed boardroom doors. For far too long, the world of professional sports ownership has been one of those clubs. This is where Jaia Thomas and Diverse Representation enter the chat. What started as a digital directory for Black agents and publicists has evolved into a movement to radically shift the face of power in sports and entertainment. Through events like the recent Black Ownership in Sports Symposium in Atlanta, GA, Founder and CEO Thomas is not just asking for a seat at the table. She’s building new tables altogether. The symposium brings together current and aspiring Black owners, investors, and leaders to discuss tangible pathways into one of the most exclusive spaces in business. Paxton Baker was one of the speakers at this year’s...
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...
A wise investment made by Serena Williams and Alexis Ohanian has greatly benefitted their daughters. As AFROTECH™ previously reported, the couple has been very intentional about investing in their children’s futures. When their first child, Alexis Olympia Ohanian Jr., was 2 years old, she made headlines as the youngest owner of a professional sports team when she was listed alongside her parents as an investor in Angel City, the National Women’s Soccer League team based in Los Angeles, CA. “As someone who spends hours kicking around a football with my two-year-old daughter, I want her to have a front-row seat to this revolution,” Alexis Ohanian said at the time. “I’m personally investing on behalf of my family because creating more opportunities in women’s sports is important to my wife and me, and we want to be a part of making a better future for our daughter.” In August 2023, the couple welcomed the birth of their second child and daughter, Adira River Ohanian, Today reported....
Celebrity-backed investment firm Avenue Capital Group seeks to raise more than $1 billion. According to a press release, Marc Lasry and Sonia Gardner’s Avenue Capital Group established a sports investment fund in October 2023 to provide capital to sports leagues and teams in North America and Europe. The fund intends to extend its reach to Africa, Asia, South America, and Australia. The fund also plans to supply financial solutions to sports teams, owners, and leagues and invest in sports media, entertainment rights, real estate, and associated ventures, per the press release. Notable names supporting the venture include Stephen Curry, Lauren Holiday, Harry Kane, Candace Parker, Michael Strahan, and Lindsey Vonn. “We built out the company advisory board of athletes who are part of our company… Lauren Holiday, Candace Parker, Harry Kane over in Europe, and Steph Curry,” said Strahan during an interview with Forbes at the 2024 Forbes Iconoclast Summit. “It’s interesting ’cause it was...
A new powerhouse has joined forces with Tiger Woods and Rory McIlroy’s tech-infused golf league, TGL. Shonda Rhimes revealed that she has become a part of the ownership group for the California-based Los Angeles Golf Club (LAGC), TGL’s first team. “I’m beyond excited to announce my involvement as the newest owner of Los Angeles Golf Club, the inaugural team in the @tglgolf league,” Rhimes wrote in an Instagram post. “I can’t wait to bring my passion for golf to this incredible venture.” She continued, “Joining this team is an honor and, as someone who believes in the power of storytelling and community, I’m eager to see how we can elevate the game together. Let’s tee off on this new journey. We are LAGC.” View this post on Instagram A post shared by Shonda Rhimes (@shondarhimes) The renowned TV producer and creator is now standing alongside fellow Los Angeles Golf Club owners Serena and Venus Williams, Alexis Ohanian Sr., and Antetokounmpo brothers Giannis, Thanasis, Kostas, and...
TMRW Sports, co-founded by Tiger Woods, Rory McIlroy, and Mike McCarley, has announced a new funding round. As AFROTECH™ previously told you, TMRW Sports has secured investors such as Shaquille O’Neal, Dwyane Wade, Stephen Curry, Chris Paul, Andre Iguodala, and Jayson Tatum, as well as Kevin Durant and Rich Kleiman’s 35V . Now, according to Bloomberg, TMRW Sports has received funding in a round led by Dynasty Equity Partners and Connect Ventures — bringing the sports, media, and entertainment company’s valuation to $500 million. “Our goal has always been to partner with world-class management teams in sports that have a big following,” K. Don Cornwell, co-founder of Dynasty Equity Partners, said per Bloomberg. “TMRW is taking intellectual property and applying it in such a way that’s going to not only get existing fans excited, but bring new fans under the tent. And, since accessibility and bringing diversity into sport is among our priorities, it’s a great fit.” According to...
Serena Williams has positioned herself for a lifetime of success. However, as a mother, her children’s well-being also defines true victory. Williams and her husband, Reddit Founder Alexis Ohanian, have two daughters: Alexis Olympia Ohanian Jr., who is now 6 years old and was born on Sept. 1, 2017, and Adira River Ohanian, born in August 2023. View this post on Instagram A post shared by Serena Williams (@serenawilliams) Early on, Williams and Ohanian began making moves to establish wealth for their daughters. When Olympia was 2 years old, she made history as the youngest professional sports team owner. As AFROTECH™ previously reported, she became part-owner of the women’s soccer team Angel City FC (Los Angeles, CA), along with her parents. “As someone who spends hours kicking around a football with my two-year-old daughter, I want her to have a front-row seat to this revolution,” Ohanian said in a National Women’s Soccer League news release at the time. “I’m personally investing on...
Tiger Woods’ reported payout from the PGA Tour has been revealed. As previously shared by AFROTECH™, the PGA Tour announced its $1.5 billion investment from Strategic Sports Group (SSG), which was launched to allow almost 200 PGA Tour members to become “equity holders” in PGA Tour Enterprises. The grants from the new enterprise hinge on career accomplishments, future participation and services, and PGA Tour membership status. “It was incredibly important for us to create opportunities for the players of today and in the future to be more invested in their organization, both financially and strategically,” Woods and fellow board members Patrick Cantlay, Peter Malnati, Adam Scott, Webb Simpson, and Jordan Spieth shared in a joint statement. “ This not only further strengthens the Tour from a business perspective, but it also encourages the players to be fully invested in continuing to deliver–and further enhance–the best in golf to our fans.” Moreover, d uring a conference call with...
Tiger Woods is merging technology and sports with a new venture. AP News reports that the sports legend has joined fellow professional golfer Rory McIlroy for TMRW Sports, which aims “ to build technology-focused projects with a progressive approach to sports, entertainment and media.” Within the media venture, it will feature “TGL” — a tech-infused golf league. “As a big sports fan myself, I’m excited about blending golf with technology and team elements common in other sports,” Tiger Woods said in a statement, according to the outlet. “We all know what it’s like to be in a football stadium or a basketball arena where you can watch every play, every minute of action unfold right in front of you. It’s something that inherently isn’t possible in traditional golf.” The outlet details that the league will include 18 players, who will compete in a series of 18-hole matches. For two hours, fans can expect to watch three-man team competitions in a stadium. “Our custom-built arena,...
Sometimes small businesses face the challenge of learning how to develop effective bookkeeping practices. This obstacle could lead to disrupted cash flow and a failure to meet the financial obligations of one’s business. Looking to resolve this issue in Nigeria is the startup Kippa, which markets itself as the country’s simplest accounting software. Founded by Kennedy Ekezie alongside Duke Ekezie and Jephthah Uche in February 2021, the application is designed to help small business owners create a bookkeeping system that will help them “recover debts 3x faster,” TechCrunch reports. According to Kippa, a stand-out feature on its application is customers who have not made payments can not only be tracked, but they will receive an automated reminder message for the business owner to recover debts. In addition, businesses can manage inventory, track daily cash flow and expenses, create invoices and generate receipts. “For us, what we do is we have such a unique opportunity to provide...
What would you do if told your student debt could be erased? These students don’t even have to consider this question because it’s been done! Insider reports that the president of Wilberforce University, the country’s oldest private historically Black university, surprised Saturday’s graduating class with the gift of a lifetime- no student debt! During his commencement address, President Elfred Anthony Pickard announced that he would forgive the students’ debt. He proposed the move came after realizing the difficulties students faced while attending school remotely during the pandemic. “Because we are in awe of your strength and perseverance because you have made your family and yourselves proud because you have shown that you are capable of doing work under difficult circumstances because you represent the best of your generation, we wish to give you a fresh start,” said Pinkard in his speech. “So, therefore, the Wilberforce University board of trustees has authorized me to...
Google’s Black Founders Fund announced on Tuesday that it’s awarding $5 million to 76 Black founders . In a blog post on Google’s website , Jewel Burks Solomon, Head of Google for Startups U.S., reiterated that these investments are “non-dilutive, meaning that unlike most investments, founders are not giving up any ownership in their company in exchange for funding.” She also added: “Racial equity is inextricably linked to economic opportunity around the world, and that’s why we’ve also announced funding to support Black founders in Brazil and across Europe.” According to TechCrunch , all the selected startups had previously participated in Google’s Founder Academy in Atlanta, a program for Georgia-based startups, or are connected to Google’s startup community . Burks Solomon also told TechCrunch Google “didn’t open it outside of our network because we want to be able to offer support, in addition to the funding.” Atlanta Journal-Constitution (AJC) reports that at least 35 of the...
Thanks to the magic of a free and open Internet and social networking, this generation has the ability to document every day of their entire lives. On the flip side, once posted there’s no way to erase the occasional stupid comment, regretful photo or random rookie mistake…or, is there? Photo: Giphy As co-founder of On Second Thought , Maci Peterson has patented a system that allows users to recall and edit their messages in real time. The inspiration came to the 30-year-old entrepreneur three years ago, when she accidentally texted an ex-boyfriend something she later wished she could take back. I mean, who hasn’t been there? In 2014, that inspiration lead Peterson to launch an app used to recall text messages. Now she and her partner are taking it a step further and expanding the technology for use on social networking platforms. In fact, the patented recall system will be made available on all forms of telecommunications. Brilliance! No one deserves a permanent, easily sharable...