Let’s skip the small talk,
Tuesday’s midterm elections have created a fascinating paradox in college sports: we have a better idea of where it's headed, but less control over how it gets there.
The Protect College Sports Act (PCSA) will likely not pass. The NCAA will continue to fight legal battles they cannot win, the conferences will continue to enforce their own rules, and battles in DC will continue to drag on.
What does this mean for the athletes? Continued freedom, yes, coupled with a wild west of lack of structure that will create continued chaos.
Some conferences might make athletes employees, but I kinda hope that doesn’t happen.
There might be more financial security, legal protections, and bargaining power, but it will come with a tradeoff of less flexibility, more contractual obligations, and greater taxation complexity that will create an absolute shit show.
An 18-year-old freshman could be juggling an employment contract, NIL endorsement deals, scholarship agreements, and tax obligations, all while trying to earn a degree and compete at the highest level.
And though there are plenty of attorneys and financial advisors to assist athletes (many of whom are friends of A&A), I know I don't feel comfortable having someone manage my financial life without knowing everything that’s happening myself.
In short, we are professionalizing college athletics faster than we’re preparing athletes how to be professionals.
These kids have too much going on to add another piece of complexity and education to their current "education”, although purely focusing financial literacy might be more useful than Algebra 2 at this point.
Thanks for locking in for another addition: Here's what else you may have missed this week…
LINEUP
1. Headlines This Week 🗞️
2. Dame’s Quiet Insole Brand 👟
3. CC’s Historic Partnerships 👀
4. Scouting Report: Cam Jordan 🏈
5. New Partnership: Nabi x Axal 🤝
NEWS
Headlines of the Week
Damian Lillard’s Move Insoles reaches $8M in annual revenue and about 560 Dick’s Sporting Goods.
Caitlin Clark becomes the first athlete to sign with Dick's and Foot Locker.
Rafael Nadal joins the Real Madrid board of directors.
Dak Prescott invests in LEGION, a football protective gear brand.
LeBron James sends a cease and desist to "Bron AI," a betting app that used his likeness.
A&A IN DEPTH
Dame’s Quiet Insole Brand
At the start of Blazers training camp, Ja Morant told Damian Lillard he needed more pairs of the insoles he'd been wearing. Lillard asked him, "You know that's my company, right?" Morant thought he was joking.
Lillard co-founded Move Insoles with Nate Jones, a sports marketing executive at Goodwin Sports, the agency that represents Lillard. Move launched in December 2021 and did $1.2 million in revenue in 2022. In 2025, revenue reached $8 million.
Jones estimates around 25 NBA teams now use Move, and NBC News reports those teams found it through word of mouth. A'ja Wilson and CeeDee Lamb wear the insoles without paid endorsement deals. The product is also sold in about 560 Dick's Sporting Goods stores.
Lillard designed it around his own feet. He has worn orthotics since breaking his foot at Weber State, dealt with plantar fasciitis early in his NBA career, and tested Move prototypes while practicing with Team USA before the Tokyo Olympics. Chris Paul and Jamal Crawford are investors.
The growth came with problems. Move sold $120,000 in its first month without any marketing, and demand outran inventory planning, which left the company with unexpected shipping costs. It has since dealt with rising manufacturing costs, distribution issues, and tariffs.
NBA players already ask their trainers for Move by name, and its now set to become an official partner of the National Basketball Athletic Trainers Association. Lillard wants the insoles to become standard equipment in pro leagues and youth sports, and Jones is looking at other sports-performance accessories.
HISTORY MADE
Clark’s Historic Deals
via Fox Business
Caitlin Clark has signed a multiyear deal with Dick’s Sporting Goods and Foot Locker. It’s the first time either brand has signed any individual athlete as a partner.
Both chains have worked with athletes on marketing campaigns and in-store events before, but never at the brand level. It’s also the first joint athlete partnership between the 2 banners under Dick’s Inc., which acquired Foot Locker in September of last year.
Clark will work with both retailers on campaigns, fan activations, and promotions supporting her Nike signature line. The Caitlin 1 set sales records for Nike after hitting stores in October.
In 2024, Clark became the first female athlete to have her team apparel sold in all 724 Dick’s stores, joining Lionel Messi, Travis Kelce, and Deion Sanders. Clark called the new deal “a really special full-circle moment.”
(via Fox Business)
Shoutout to our friends the Gronkowski’s at G&G Fitness. If you’re interested in building a weight room in your home, feel free to reach out to us for an intro.
THE SCOUTING REPORT
Cam Jordan
Cam Jordan is playing his 16th and final NFL season with the New Orleans Saints. The 37-year-old defensive end is the franchise’s all-time leader in sacks and games played, with 8 Pro Bowls and 3 All-Pro selections since New Orleans drafted him 24th overall out of Cal in 2011.
Jordan made his first franchise investment in August 2024, joining AMF Restaurants founder Andrew Feghali and partner Michael Khalil in a Little Caesars acquisition. His stake covers 8 locations in and around Indianapolis. The deal grew out of his work in Little Caesars’ NFL commercials and a habit that started at the store across the street from his high school in Chandler, Arizona.
He also runs the Cam Jordan Foundation, which funds youth development programs and resources for families, and he’s been the Saints’ Walter Payton Man of the Year nominee 3 times. This season he launched Thank You NOLA, a 16-week campaign of service projects, fan experiences and community activations tied to his farewell year.
Brands interested in reaching out to Cam and his team can connect with them here.
NEW PARTNERSHIP
Nabi x Axal
Why would an a16z-backed fintech sign a USL soccer player?
Axal is a savings app backed by a16z CSX and CMT Digital. Users deposit dollars or USDC, and Axal puts that money into automated stablecoin yield strategies. Its newest growth partner plays centre-back for Indy Eleven.
Nabi Kibunguchy was the 18th pick in the 2021 MLS SuperDraft and has represented Kenya internationally since 2023. He joins Axal as a referral partner to help bring new accounts onto the app.
Here’s why the fit works:
Money is personal. People move their savings when someone they trust recommends a product, and fintech companies grow through those recommendations.
Pro athletes sit at the center of tight networks of teammates, fellow pros, family and fans. Many of those people earn real money and want a smart place to put it. Nabi’s network runs through the US, Singapore and Kenya.
A referral partnership ties Nabi’s role to new accounts; he wins when Axal grows.
The best startups aren’t paying for reach anymore. They’re paying for trust. That’s the funnel we’re building at Athletes & Assets™.
Another one done. More coming soon.
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