Actionable news
0
All posts from Actionable news
Actionable news in INTC: Intel Corporation,

NFL Players Union To Trade Marketing Rights For Startup Equity

The National Football League players union is starting a venture group, OneTeam Collective, to trade the rights to football players’ images for equity in sports-oriented startups.

Capital

The group is getting its investment capital from six other founding partners: Harvard Innovation Lab, Intel Corporation INTC 0.96%, Kleiner Perkins Caufield & Byers (KPCB), LeadDog Marketing Group, Madrona Venture Group and the Sports Innovation Lab.

Purpose

The venture will offer companies access to the NFL players union’s brightest stars via licensing, marketing and content rights, research and development, funding and mentorship for product development and marketing support.

These rights are valuable as firms such as Nike Inc NKE 2.47% shell out a huge sum to use the NFL players in commercials, video games and other promotions.

In a press release, the union said OneTeam Collective will, among others, consider business ventures and product ideas related to fan engagement, data analytics, performance and training and virtual and augmented reality.

Potential

“We are thrilled to bring together this remarkable group of world-class partners,” said Ahmad Nassar, president of NFL Players, Inc. and the OneTeam Collective board chairman, said in a press release.

“Together we will help companies unlock the value of the world’s greatest unifier – sports and the athletes who play them. With the OneTeam Collective, the goal is to build on that appeal to nurture and grow businesses that will be beneficial to all,” Nassar added.

The OneTeam Collective is planning a number of events and competitions in the coming months, beginning with a presence at the 2017 Consumer Electronics Show in Las Vegas.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.