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Former NFL Star’s Players Philanthropy Fund Is Bigger Than Sports

With his Players Philanthropy Fund, former Baltimore Ravens kicker Matt Stover is making the most of his career off the field.

Blake Yagman

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Former Baltimore Ravens kicker Matt Stover has committed to giving back to other athletes so that they have a chance to meaningfully contribute to their communities through their own creative philanthropic goals.

Think of the old saying, “a candle loses nothing by lighting another flame.”

Stover, a former NFL all-pro, started a Baltimore-based non-profit called the Players Philanthropy Fund with his partners Seth McDonnell and Emil Kallina. PPF is a tax-exempt entity that acts as a fiduciary so as to enable organizations to engage in philanthropy without the fiscal, legal and operational burden of starting a new standalone entity.

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PPF currently works with more than 65 different charitable organizations across the country – including the Ed Reed Foundation and DeAndre Jordan’s Treehouse Giving organization. It also supports organizations that increase resources for mental health issues, education concerns, pediatric cancer, military/veteran and first-responder assistance, homelessness and starvation.

“The mission of the Players Philanthropy Fund is to educate, facilitate and inspire best-practice-based philanthropy,” Stover said. “Every day, PPF’s goal is to empower athletes, celebrities and other individuals by providing financial and administrative support to their charitable organization, freeing them to focus on achieving the maximum impact possible for their charity or community.”

Stover’s concept is a unique one, essentially acting as the financial architect in helping individuals and organizations build structurally sound and compliant charities.

“There are three reasons why I founded [PPF],” he said. “First, I knew that I wanted to live a life of significance following my professional football career. I also knew that I wanted to continue on my personal journey of giving back for the greater good. In addition, I wanted to take the lessons that I learned to help others in their philanthropic and financial journeys.”

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With respect to the nuts and bolts of his fund, Stover emphasizes simplicity.

“My PPF co-founders [and I] knew that if we could develop a way to remove much of the complexity and confusion that athletes, celebrities and others’ experience in developing a charity, we’d see higher participation in giving. With that in mind, we developed three operating platforms that can be chosen: ‘The Donor Advised Fund,’ ‘Fiscal Sponsorship’ and ‘Private Operating Platforms.’”

Each of these platforms has its own unique financial and administrative benefits. So, what are a few things an athlete should be cognizant of when launching a charity?

According to Stover:

  • Brand – How will launching a charitable organization help the individual realize his or her short- and long-term personal brand goals? Does the person have the team in place to ensure the charities’ brand and messaging are strong and executed consistently and effectively?
  • Differentiation – How will the mission of this organization be different from other similar organizations in its space? How will this charity improve, change or innovate the charitable landscape?
  • Timing – Is this the right time for a person to take on the responsibility of being the face of a charitable organization? Additionally, will this person have the time required to make the organization successful?
  • Financial requirements – Does this person fully understand the financial requirements of operating a charitable organization? Does the person have a team and processes in place to ensure the charities long-term success?

PPF’s popularity, due in part to the brilliant concept that Stover came up with, is also supported through the use of strategic partnerships.

“Developing a successful charitable organization goes far beyond being financially compliant,” he said. “We know, through our own experience at PPF, that developing a successful charitable organization also requires creating an effective brand and having the infrastructure in place to consistently build upon that brand.”

A member of the Ravens’ Ring of Honor, Stover has paved a path that every person —not just athletes — should applaud: a post-playing career that uses his or her platform for good.

Blake, a recent law school graduate, lives in New York City. Blake attended undergrad at the University of Miami where he worked for Hurricanes football, WVUM and student government. Blake writes about legal issues related to the sports industry for Front Office Sports.

Athletes In Business

Cryotherapy Meets Jaylon Smith’s Crucial Three C’s

The Dallas Cowboys linebacker’s investment is more than a business move. It’s a personal statement by someone whose NFL career almost ended before it began.

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Photo Credit: Matthew Emmons-USA TODAY Sports

Cryotherapy has entered Dallas Cowboys linebacker Jaylon Smith’s life in a big way.

Smith was introduced to the low-temperature recovery technology during his breakout 2018 campaign, and he credits his on-the-field success in part to the process. Now, the third-year pro is going all in and investing in Houston-based iCRYO in a move that Smith said aligns with his investing philosophy: the three C’s.

For Smith to invest in any partnership, he needs a potential deal to have the right character, chemistry and competence.

READ MORE: Trio of NFL Players Work Together for A Dunkin’ Retirement

“If you align on those three, and it fits with everything I’m trying to do from a brand and capital standpoint long term, I’m in,” Smith said. “That’s what they possessed.”

Along with becoming an equity partner, Smith hopes he can help be a major part of the branding for iCRYO moving forward.

“Just to get the word out about cryo,” he said. “It’s something that’s been around, but not everyone has experienced it. I can be a voice, a face, for cryo and iCRYO. I just love what it does from a healing standpoint relieving muscle pain, sprains, swelling.

“Cold therapy is wonderful, and I believe everyone should be doing it, not just athletes. It’s an energizer in overall life.”

Smith discovered the practice last year at the Cowboys’ practice facility. Now that he’s a regular user, he wishes he would have discovered it earlier. During his junior season at Notre Dame, Smith suffered a brutal knee injury in the Fiesta Bowl that required an intensive rehabilitation regime. He plummeted from a likely top-five draft pick in the 2016 NFL Draft all the way down to 34th, ultimately missing his entire season.

Smith debuted in 2017 and partly credits his cryotherapy discovery for his standout second season, during which he recorded 121 tackles and was named 2018 Pro Football Focus’ Breakout Player of the Year. With the physical demands of football, Smith said the cryotherapy helps him recover much faster than traditional ice baths.

“The sport I play, in the NFL, it’s a very physical and violent game,” Smith said. “Availability is everything. It’s all about how fast you can recover.”

Smith’s investment is more than just an endorsement deal or some money; he’s putting his money where his mouth is, said Kyle Jones, iCRYO COO and co-founder. Jones opened the first company’s retail location five years ago and has since sold “a couple dozen” franchise locations, grabbing a significant market share in a relatively new industry that could reach $5 billion by 2024.

The two hit it off during the 2018 holiday season at a Boys and Girls Club event, and as they teamed up it became clear to Jones that, given Smith’s injury history, this investment was personal.

“He’s shown nothing but serious involvement,” Jones said. “He wants to know the science, get involved with the business. He’s very hands on.”

Beyond his position as an equity partner focused on providing brand awareness support, Jones expects Smith to own several franchises in the near future.

Smith has always wanted to be an entrepreneur, and this entry into the cryotherapy space is not his first business endeavor. He also started an eyewear line called CEV Eyewear, a venture he enjoys both for his love for eyewear as well as the brand’s name, Clear Eye View, signifying the sort of focused approach he believes everyone should have for life. Beyond his own businesses, Smith said he’s always looking to allocate a portion of his money into real estate, private equity and venture capital investments when possible.

As an NFL player, Smith understands he has access to opportunities many other aspiring entrepreneurs don’t have. He’s hoping to capitalize on them as much as he can before those advantages go away while learning as much about business as he can when he’s not on the field.

READ MORE: Jake Plummer Carries Quarterback Lessons into the Startup World

“I want to maximize the platform of being a professional athlete,” he said. “You’re granted with stature and stardom, and you can leverage the impact and influence for access and connections.”

Smith is only two years removed from the injury that many expected to end his career and remains cognizant of how quickly football can be taken from him. Off the field, like many other modern professional athletes, Smith is already looking beyond the horizon, looking to set up his post-playing days.

“Whenever I’m not playing, I have a love and desire for entrepreneurship,” he said. “I’ll continue to dive into that and educated myself and my peers, providing access to people I love and people who deserve opportunities.”

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Athletes In Business

Trio of NFL Players Work Together for A Dunkin’ Retirement

Ricky Jean Francois, Jordan Reed and Sam Shields are building a Dunkin’ empire in South Carolina and Georgia to better set themselves up for retirement.

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Photo Credit: Mark J. Rebilas-USA TODAY Sports

Prior to his fifth season, Ricky Jean Francois received a significant lump sum of cash from the contract he signed with the Indianapolis Colts. He knew exactly what to do with it. 

“I needed a retirement fund,” said Jean Francois, a 10th-year defensive tackle who’s currently a free agent. “I had the money but didn’t want to spend all the money. I wasn’t going to be a 30 for 30 subject about going broke. If I had the resources, we needed to get a retirement plan going.”

His financial manager, Sherard Rogers, suggested Dunkin’ franchises as a potential pathway for his post-career plans. Rogers brought Jordan Reed and Sam Shields, two of his other clients, into the fold, and together the three players started U Donuts, LLC. The business has since purchased territory rights between Hilton Head, South Carolina, and Savannah, Georgia, with the potential to build 26 stores. The company began with three locations and now has nine operational, with four more planned to open this year. Jean Francois said U Donuts is prioritizing steady growth over exploding the number of franchises.

READ MORE: Jake Plummer Carries Quarterback Lessons into the Startup World

“It’s a growing brand that will let us take it as far as we want to,” he added. “Everybody loves coffee. “We thought it’d be smart to get into something a lot of people can’t not start their day with”

Dunkin’ relies on franchisees like the trio of NFL players to continue its growth throughout the nation, said Grant Benson, Dunkin’ Brands senior vice president of franchising and business development. Benson noted Jean Francois, Reed and Shields all demonstrate high confidence in the Dunkin’ model, which makes them easy to work with.

“Many of the skills learned in sports can translate to franchising, and these professional athletes know how to work hard and utilize the operations playbook to their advantage,” Benson said. “We look forward to working with U Donuts to bring great products and an exceptional guest experience to our loyal guests throughout South Carolina and Georgia.”

The trio of NFL players combined their efforts to help other prepare for their post-NFL lives. Jean Francois said the trio could have prioritized individual endeavors but understood early on that combining resources will better prepare all of them for retirement.

“It’s better when you have other people that want to get their post-career started now, investing now,” he said. “I get to learn from them, they get to learn from me, and we all get to make our money work now and see what our money is doing.”

Likewise, Jean Francois said he’s excited to set himself up for other business endeavors, which might start sooner rather than later, as he’s unsure of whether he’ll be on a team this fall.

“We all work together, get on calls with one another and our other partners that are professionals, so I know it as well,” he said. “I’m on the back end of my career, so I have to start preparing and be used to it.”

One additional venture could be real estate. The group is currently purchasing the real estate on which future Dunkin’ locations will sit, provided they don’t get a better offer for the land. 

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“I want to look at dirt and not see it as dirt, [but] I see the future Dunkin’ built there,” he said. “Being part of it makes you work, makes you work the brain.”

As the trio of players continue to build their coffee and donut empire, Jean Francois wants more players to focus on building their post-career plans early on, so they can retire and walk gently into a comfortable life.

“When you have the resources, why not set an example for others?” he said. “We’ve all seen these recent deals. If these guys put 10% away, they can own whatever they want and coast.”

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Athletes In Business

Jake Plummer Carries Quarterback Lessons into the Startup World

After years on the sidelines in retirement, the Pro Bowl quarterback has entered business world by co-founding ReadyList Sports.

Mike Piellucci

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Photo Courtesy: ReadyList Sports

Jake Plummer isn’t ashamed to admit it: The former Pro Bowl quarterback had no idea what he was getting into when he agreed to co-found a startup. He’s just glad his wife gave him a push.

He had been out of the NFL for nine years in 2015, and none of his post-retirement projects had stuck. None of them necessarily had to, either, with the windfall he accrued over 10 NFL seasons. He briefly took up coaching. He dabbled in real estate. He advocated for Charlotte’s Web CBD, a hemp oil. A stint on television with the Pac-12 proved to be short-lived. “That got old pretty quick,” he says.

But he had no clear direction until Chad Friehauf, a friend and former teammate on the Denver Broncos, showed him with a 300-slide PowerPoint presentation at a Boulder, Colorado, coffee shop. The subject was a business venture called ReadyList Sports, a product that digitizes football playbooks and makes them interactive. Plummer returned home and went about his week until his wife, Kollette, urged him to call follow up with Friehauf.

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“’Did you look into that? It looked like a pretty cool idea. If it was to work, it would be a pretty awesome deal,’” Plummer recalls Kollette telling him. “Some men are afraid to admit it, but I’m not: My wife is usually right.”

Plummer signed on, and the two former quarterbacks got to work. As CEO, Friehauf handles the technical aspects. Plummer’s strength, meanwhile, is thinking ahead, not only to where the company is going but who it can partner with to get there.

“He’s definitely a big door-opener for us, whether it’s teams, coaches, investors, front office people, just his network now that his teammates are coaching high school or his teammates have kids in youth sports,” Friehauf says. “He’s great at seeing the big picture of where we want to take this thing.”

For Plummer, that means as high as possible. The product is tailored for all levels of competition, and Friehauf says ReadyList has clients ranging from youth flag football to the collegiate level via the University of Louisville. But its crown jewel is a longstanding relationship with current New York Jets and former Miami Dolphins head coach Adam Gase, who used the system in Miami after Plummer originally approached him during Gase’s time as the Broncos’ offensive coordinator. The next step is to add more clients like him.

“The pro level is where we feel we can validate this,” Plummer says. “Once you can convince a couple of coaches who are influential – and not just influential by making people do stuff, but if they do something, everyone is like, ‘Oh, we better check this out’ – that’s what we’re pursuing.”

Plummer says he’s encountered his fair share of pain points in his first-ever business venture. Among them: business terminology, the ever-changing timetables and updates associated with ReadyList’s technology, and, of course, work-life balance.

“You learn through business and starting this up that the work’s really never done,” he says. “There’s always somebody I haven’t called or emailed or told about this, so it can be tiresome if you don’t say ‘Alright, it’s 5 o’clock, I’m done. I won’t make any more calls, won’t answer any more emails.'”

Perhaps the greatest challenge of all, however, lies in persuading the often-close-minded world of football to think differently. That was never a problem for Plummer, who famously left the NFL to pursue a career in handball. It can be another matter entirely for coaches who are sometimes used to teaching players in a certain way for decades.

“We’re hoping that this tool can convince coaches, ‘Hey, there’s a better way to teach and there’s a more efficient way to run practices and everything,’” he says. “Kind of streamline that so time can be spent strategizing how to beat an opponent, not just getting kids lined up right.”

But four years of startup life have taught Plummer something valuable. After years on the sidelines following his retirement, he now realizes was more ready to take on a large-scale venture than he ever knew.

READ MORE: Less is More: How Andrew Luck Handles Off-The-Field Partnerships

“Being a quarterback, I realize I was already so immersed in business, but I didn’t know it,” he says. “You’ve got to be able to really play a lot of different roles. So as the business side of things has come around, I’ve learned a lot about it. It’s really been an easier transition than I thought, just because, as a QB, you’ve got to know your personnel, right?

“You’ve got to know your guys, how they respond when you push them, how you respond when they’re praising them, and the same goes with business. You’ve got to know when to put the pedal to the metal and when to lay off a little bit.”

Plummer is well aware that the work is only beginning. ReadyList intends to launch a new high school-specific product within the month, while the football offseason represents a prime sales opportunity for teams eager to get their selections in this month’s NFL draft up to speed as soon as possible once they’re signed. It’s been more than two decades since Plummer was in that situation as a first-round pick out of Arizona State. He’s learning to reacclimate to the learning curve.

“As a businessman now, to correlate to playing ball, you have failures,” he says. “You lose games, but you’ve just got to back to the drawing board and figure out what you can do better next time.”

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