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LeBron James reportedly is advocating for an international league. ESPN reports that Maverick Carter, James’ business manager, was considering a $5 billion raise to launch an international basketball league with the help of multiple private equity funds. According to CBS Sports, the league would compete directly with the NBA. James, who is playing with the Los Angeles Lakers under a $52.6 million player option for the 2025-2026 season, has expressed interest in NBA team ownership, particularly for Las Vegas. When the international league was announced, James was reportedly not involved with its plans. However, he may now be taking part. Front Office Sports mentions there was a meeting held in France between Carter, James, and Miško Ražnatović — the European agent of Denver Nuggets player Nikola Jokić — regarding the international league, according to sources close to the matter. Details surrounding the league include having six men’s and six women’s teams that travel to play in...
Bobby Wagner is already laying the groundwork for a lasting legacy beyond the field. Wagner was drafted to the NFL in 2012 by the Seattle Seahawks and now represents the Washington Commanders. According to Spotrac, the linebacker has earned $109.5 million over his career so far. Wagner also served as his own agent to negotiate his last four contracts, such as a five-year deal valued at $65 million with the Los Angeles Rams in 2022, CNBC reports. Now, it appears Wagner is working to increase his business acumen as a student at Howard University, notes The Dig at Howard University. He is enrolled in the HBCU’s Master of Business Administration program. Additionally, Howard is the only HBCU listed on Bloomberg Businessweek’s top business schools in the U.S. “There is a lot of excitement around having a prominent NFL player and someone who is doing great things off the field choose Howard University as his institution of choice,” said Mariko Carson, Ed.D., director of graduate affairs...
Richard Seymour is a minority owner in the league he once played in. A three-time NFL Super Bowl champion and Hall of Famer, Seymour played in the league for 12 seasons and earned $89.5 million in career earnings, notes Spotrac. Beyond the playing field, he has been taking charge within the business and investing arena. In fact, he co-founded 93 Ventures — named as an homage to his jersey playing for the New England Patriots — alongside venture capitalist and strategic advisor Albert G. Sye IV. According to its website, the venture capital firm is based in Atlanta and has interests in industries such as late-stage pre-IPO tech unicorns, growth-stage consumer packaged goods and fintech, and early-stage Web3. Its investment portfolio includes Lyft, Airbnb, Sundae, Dapper Labs, and Calaxy, which is a social marketplace founded by tech entrepreneur Solo Ceesay and NBA star Spencer Dinwiddie. Calaxy has direct-to-consumer monetization and is intended to create more intimate experiences...
It’s official! Detroit will have its own WNBA team, backed by familiar and notable names. NBA legends Grant Hill and Chris Webber are minority team owners of the new WNBA team. As AFROTECH™ reported, Hill and Webber joined a bid in January 2025, led by Tom Gores, the owner of the Detroit Pistons, to secure a stake in bringing a WNBA team to Detroit. Both Webber and Hill had once played in the city, representing the NBA. Now, halfway through the year, the group — which also includes football quarterback Jared Goff — has much to celebrate, as their bid for a WNBA team has been approved. The team is set to launch and begin competing by 2029, with Little Caesars Arena as its home base and a new practice facility in development, according to CBS News. “This is a huge win for Detroit and the WNBA,” Gores said, per the outlet. “Today marks the long-hoped-for return of the WNBA to a city with deep basketball roots and a championship tradition.” He added, “Detroit played a key role in the...
TIAA President and CEO Thasunda Brown Duckett is now an investor in the WNBA’s New York Liberty. As AFROTECH™ previously told you, Duckett is one of two Black women CEOs of Fortune 500 companies. Now, she is making headlines for her minority stake in the New York Liberty as part of an investor group, Essence reports. Majority team owners, Clara Wu Tsai and her husband, Joe Tsai, raised capital through the group at a valuation of $450 million, which is a record for a professional women’s sports franchise, according to The New York Times. What’s more, Clara shared that she thinks the team is capable of becoming the “first billion -dollar women’s sports franchise.” The Tsais are also co-owners of the NBA’s Brooklyn Nets. Duckett expressed on Instagram, “Sports has made a profound impact in my life. It taught me grit, perseverance, teamwork and resilience. To be an investor in women’s sports and the NY Liberty franchise is truly an impact moment.” View this post on Instagram A post...
Track stars Sha’Carri Richardson, Gabby Thomas, and Tara Davis-Woodhall are investing in familiar territory. What Is ATHLOS The trio has teamed up to join the ownership group of the ATHLOS track and field league. ATHLOS, launched in 2024 by Alexis Ohanian, Reddit founder and Serena Williams ‘ husband, began as an all-women’s track and field meet. According to Forbes, ATHLOS will return to New York, NY, for its 2025 meet but will scale into a full-fledged league starting next year. The team-based league’s website states that it will feature some of the fastest athletes in the world, span multiple cities, and build momentum toward a championship event. “ATHLOS is shifting gears, moving from a solo spotlight to team-centered showdowns where participating athletes will compete for teams, not just times. It’s still blazing fast, but with teams to cheer for,” the website mentions. ATHLOS offers $60,000 in prize money to the winner of each event across the meet, and 10% of all event...
Michael Strahan is reportedly looking to invest in his former team. Strahan was drafted by the NFL’s New York Giants in 1993 as a 40th overall pick, according to Sports Illustrated. He remained with the team throughout his 15-year career, stamping field achievements such as 850 tackles and over 135 sacks. In 2008, he won the Super Bowl, which he says changed his life permanently. “That Super Bowl was the biggest thing – that’s pretty much one of the biggest things to ever to happen to me,” Strahan expressed, per Big Blue View. “Winning that Super Bowl, especially in the fashion we did it, against the team that we did it against with that record that they had, definitely put me in a different light to a lot of people – which has led to an incredible life.” Nearly four months after the major victory, Strahan announced he would retire from the league, forgoing a $4 million contract for the 2008 season, The New York Time reported. Strahan amassed $76 million in earnings throughout his...
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...
Former NBA player Jason Kidd has invested in another soccer team. As AFROTECH™ previously told you, the 10-time NBA All-Star and current head coach of the Dallas Mavericks has continued to pursue his passion for sports well beyond his playing days. As an investor, his portfolio includes two soccer teams based in his hometown of Oakland, CA: Roots SC (men’s) and Soul SC (women’s). “In The Town when you talk about sports, we all had heroes. I’m excited to join the Roots and Soul family,” Kidd said at the time, according to Andscape. “I’ve been seeing videos of all the support they get. I’m just trying to help the family. I especially like that there are both male and female teams. Also, with the teams being in The Bay, I felt like it was a great fit.” Everton Added To Portfolio Now, Kidd has invested in another soccer team, this time joining Roundhouse Capital Holdings, which is part of The Friedkin Group, the ownership group of English Premier League club Everton, mentions ESPN. The...
Super Bowl champion Marshawn Lynch has invested in another Seattle, WA, team. As AFROTECH™ previously told you, he secured a stake in the NHL’s Seattle Kraken back in 2022. The investment marks a return home, as he also once represented Seattle’s NFL team, the Seattle Seahawks. “This is something I never would have imagined,” Lynch expressed at the time. “I always dreamed of playing on a professional team but owning one is something special. As I look back on some of my accomplishments — I retired before I was 30 and now being an owner of a professional club at the age of 35 – I’m gonna continue to count my blessings.” According to a press release, per CBS 42, Lynch also holds stakes in teams such as Oakland Roots SC of the United Soccer League, the Professional Fight League, the Beasts in the Fan Controlled Football League, and the Bay Area Panthers of the Indoor Football League. He has now added Major League Rugby team Seattle Seawolves to his portfolio, the release states. Lynch...
Will Packer knows a thing or two about spotting a good story. With films like “Ride Along,” “Think Like a Man,” and “Stomp the Yard,” he’s turned everyday moments into box-office gold, built characters we root for, and created cultural blueprints that stick. But when the call came offering a confidential shot at owning a piece of an NFL team — no details, no guarantees — this wasn’t a plot twist in a film. This was real life. And it didn’t come with a pitch deck or press release. It came with a non-disclosure agreement and the vaguest of possibilities. “I said, NFL? National Food League?” Packer joked. “Because I know the NFL doesn’t just let people in.” The terms? Mysterious. The team? Unknown. The risk? High. But Packer signed the NDA anyway. That moment — unflashy, uncertain, but undeniably bold — set off a chain of events that would lead him not just into the NFL ownership circle but into a growing movement to rewrite what power and equity look like in professional sports. Fast...
Kylian Mbappé has added a team to his growing investment portfolio. Forbes named the French and Real Madrid soccer player among the richest athletes in 2024, with an estimated total earnings of $110 million. It appears he is putting his earnings to good use by investing in the luxury watch-shopping platform Wristcheck, which Jay-Z also backs. According to Robb Report, Mbappé’s interest in the company stemmed from their innovation in technology and creativity. “I’m thrilled to join Wristcheck as an investor through Coalition Capital,” Mbappé said in a press statement, according to the outlet. “As a Hublot ambassador and someone passionate about watches and innovation, I see Wristcheck as a platform that truly understands the next generation of collectors. They’re reshaping the watch industry with a forward-thinking approach that blends technology, transparency, and creativity.” More recently, Mbappé became a team owner. He secured a stake in the France SailGP Team, which is owned by...
Detroit, MI, native Eminem is joining a list of individuals, such as former NBA players Grant Hill and Chris Webber, to bring a WNBA team to the city, according to Sportico. The 15-time Grammy Award-winning rapper — born Marshall Mathers — is part of a group led by Tom Gores and the Detroit Pistons. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into the city,” Gores said previously, per AFROTECH™. “For the WNBA, this is home, and our bid represents an unprecedented opportunity for the league to come full circle and effect a long-hoped-for Detroit homecoming. No city is more prepared to embrace the team as a community asset that drives unity and common ground.” According to Sportico, the franchise would play at Little Caesars Arena, which cost $863 million to build and is home to the Pistons and Red Wings. As AFROTECH™ previously reported, Michigan’s largest city had a WNBA team called the Detroit Shock from...
Serena Williams has ownership in a new sports team. As AFROTECH™ previously reported, the tennis legend is an investor in the National Women’s Soccer League (NWSL) club Angel City FC, alongside her family, which includes her husband, Reddit co-founder Alexis Ohanian Sr., and their two daughters, Alexis Olympia Ohanian Jr. and Adira River Ohanian. According to a press release, Williams has officially joined the ownership group of the WNBA’s Toronto Tempo, which is owned by Larry Tanenbaum’s Kilmer Sports Ventures. Williams’ presence is also a full-circle moment, as she launched her career journey in Canada back in 1995. View this post on Instagram A post shared by Serena Williams (@serenawilliams) “I am thrilled to announce my ownership role in the first Canadian WNBA team, the Toronto Tempo,” Williams said in the press release. “This moment is not just about basketball; it is about showcasing the true value and potential of female athletes — I have always said that women’s sports...
Tracy McGrady has long aspired to team ownership, and now that he’s secured a stake in the NFL, he’s dedicated to increasing representation in the league. As AFROTECH™ previously reported, the basketball icon was announced as a minority owner of the Buffalo Bills in December 2024. He joins his former Toronto Raptors teammate and fellow Florida native, Vince Carter, as part of a group of 10 limited partners, which also includes soccer star Jozy Altidore. This marks the first time the Bills, owned by Terry and Kim Pegula, have expanded their ownership group. “I’ve always wanted to be an owner of a franchise and really didn’t care whether it’s the NBA, a soccer league, whether it’s in the NFL,” McGrady explained in an exclusive interview with AFROTECH™ held at a private reception that was hosted by Diverse Representation and William Morris Endeavor (WME) on Saturday, Dec. 8 to honor Black professionals in sports. Kevell Byrd McGrady also reveals the backstory behind becoming a minority...
