ByAthletes — Issue No. 2

Cover Story

Founder Spotlight

LeBron James Is Not a Brand. He's a Business.

SpringHill Company just crossed a $200M+ valuation — and it's only the beginning of how LeBron is rewriting what athlete ownership really means.

By Jordan Falk · Staff Writer

LeBron James has been building SpringHill Company since 2015, and the media and entertainment firm he co-founded with Maverick Carter is now valued at over $200M. It's backed by a who's who of strategic investors — including Nike, Epic Games, and Reddit — and it's producing films, TV shows, and brand campaigns that exist entirely outside the traditional athlete-endorsement model.

SpringHill's latest move: a multi-year content deal with a streaming platform worth $150M in committed spend. The company employs 150+ people and manages four distinct business lines: film/TV production, brand consulting, merchandise, and athlete management.

What separates LeBron from most athlete-founders is vertical integration. He doesn't just put his name on things — he owns the creative process, the distribution, and the upside. Every project generates IP that compounds over time.

The playbook? Start with your audience. Build your platform. Then own the infrastructure that serves that platform.

"I don't want to be a brand attached to someone else's vision. I want to own the vision."

— LeBron James, Co-Founder, SpringHill Company

$200M+

SpringHill Company valuation — 2026

BasketballMediaEntertainmentBrand BuildingIP Ownership

Golf

Tiger Woods' TGR Ventures Closes $30M Round to Scale Golf Tech

TGR's design and tech division just secured $30M to expand its course analytics platform to 500 clubs worldwide. Tiger's second act is quieter — and more lucrative — than his first.

MMA

The McGregor Whiskey Blueprint: How One Fighter Built a Drinks Empire

Proper No. Twelve's sale to Proximo Spirits earned Conor McGregor an estimated $150M+ exit — and it's now the case study every athlete liquor brand tries to replicate.

Opinion

Stop Chasing Endorsements. Start Chasing Equity.

The gap between athletes who rent their name and athletes who own the upside is the defining wealth divide of this generation. The math is simple. The mindset shift isn't.

Gymnastics

Simone Biles' Mental Performance App Hits 80,000 Person Waitlist

Before launch, Biles' mindfulness platform for young athletes has already drawn an 80K waitlist — proof that her advocacy translates directly into market demand.

News Roundup

01 Swimming

Caeleb Dressel Signs Landmark Equity Deal with Target's Athletic Line

Rather than a flat endorsement fee, Dressel negotiated a revenue share — a model more athletes are demanding as awareness of equity-based deals grows.

02 Track & Field

Allyson Felix Expands Saysh into Kids Sizing — Retail Follows

After launching adult women's footwear, Felix's Saysh brand is moving into kids. Three regional retailers have signed distribution agreements ahead of the Q3 drop.

03 Tennis

Rafael Nadal Backs Spanish Agritech Startup in Seed Round

The Mallorcan legend invested in a precision irrigation startup that's raised €4.2M. Nadal cited regional water conservation as the driving motivation behind the bet.

04 Football

Marshawn Lynch Earns B Corp Certification for Beast Mode Brand

Lynch's lifestyle company became one of the first athlete-owned brands to earn B Corp status — a signal to consumers that profit and purpose aren't mutually exclusive.

Startup Tips

The athlete's
startup playbook

Equity beats endorsement — every time

A flat fee pays once. Equity pays forever. Before signing any deal, ask: what's the ownership option?

Your brand is a distribution channel

Don't build a brand to sell things. Build a brand to own an audience — then decide what to sell them.

Revenue first, valuation second

Chasing a high valuation before you have real revenue is a vanity exercise. Build cash flow first. Multiples follow.

Protect your IP from day one

Names, logos, content — trademark everything before you scale. IP is the asset that appreciates while you sleep.

Negotiate like you're already retired

During your playing career, you have maximum leverage. Use it to negotiate equity, not just dollars.

Build a board that challenges you

Surround yourself with people who will tell you no. Yes-men feel good. Challengers make you rich.

Cash flow is the scoreboard

Valuations are opinions. Cash in the bank is a fact. Manage cash like your season depends on it — because it does.

By The Numbers

The athlete
startup economy

$6.1B

Projected value of athlete-owned CPG brands by 2028 — growing at 22% annually

1 in 4

Professional athletes are actively building a business during their playing career

3.2x

Revenue multiple advantage for athlete-founded brands vs. non-athlete equivalents in consumer categories

Fastest Growing Sectors

1. Media & Entertainment
2. Consumer Packaged Goods
3. Sports Technology
4. Equity Investments
5. Apparel & Footwear

Investment Deals — Q1 2026

Stephen Curry — SC30

AR-Powered Basketball Training Platform

$11M

Curry co-led a Series A in an augmented reality training system now used by 40+ NBA G League teams. The platform uses real-time shot mechanics analysis to accelerate player development.

Basketball · Series A

Alex Morgan

Women's Sports Media Network

$5M

Morgan anchored a seed round for a digital media company dedicated to women's sports coverage — filling a gap that mainstream outlets have chronically underfunded.

Soccer · Seed Round

Usain Bolt — Bolt Ventures

Last-Mile Delivery Logistics Startup

$18M

Bolt's logistics bet targets emerging markets in the Caribbean and West Africa — regions where e-commerce growth is outpacing delivery infrastructure. Series B expected in Q4.

Track & Field · Series A

Athletesbuildingempires.