One successful business started by a former professional athlete that I consider a success is The Players' Tribune, founded by former New York Yankees shortstop Derek Jeter. I consider it a success for several key reasons: 1. The Players' Tribune filled a unique gap in the sports media landscape by providing a platform for athletes to share their stories directly with fans, in their own words. This innovative approach disrupted traditional sports journalism and created a new model for athlete-driven content. 2. They achieved impressive growth and reach since its founding in 2014. It has featured content from hundreds of high-profile athletes across many sports, built a large and engaged audience, and expanded into video, podcasts, and other multimedia formats. 3. The Players' Tribune has demonstrated financial success and attracted significant investment. In 2019, it was acquired by Minute Media in. This exit provided a strong return for Jeter and other early investors. 4. I believe The Players' Tribune's success stems from Jeter's ability to leverage his deep understanding of athletes' perspectives and needs, as well as his connections in the sports world. He identified a real pain point - athletes wanting more control over their narratives - and created an elegant solution. By giving athletes a trusted platform to tell their stories authentically, Jeter built a media company that delivers unique value to both athletes and fans. The Players' Tribune's continued growth and influence in sports media is a testament to the strength of this athlete-centric model that Jeter pioneered.
One successful business started by a former professional athlete is Magic Johnson Enterprises, founded by NBA legend Magic Johnson. This business has seen remarkable success because of its diverse investment portfolio and Johnson's strategic vision. Johnson's enterprise encompasses a range of businesses, from urban development projects to ownership stakes in major sports teams like the Los Angeles Lakers and Los Angeles Dodgers. What sets Magic Johnson Enterprises apart is Johnson's commitment to investing in underserved urban communities. His approach not only yields significant financial returns but also drives positive social impact. For instance, his development projects have revitalized neighborhoods by creating jobs and fostering economic growth. This combination of financial success and community development is why I consider Magic Johnson Enterprises a standout example of a successful business started by a former professional athlete.
In my opinion, one of the most impressive professional athletes turned entrepreneurs is the larger-than-life Shaquille O'Neal. He is a brand that transcends niches and enterprises. From Franchise investments in Corporations like Auntie Annes, Five Guys, and Papa John's to investing in tech giants like Google, the man knows how to manage his investment portfolio and is a master of diversifying his income.