
Let’s skip the small talk,
Welcome to April! Our question of the month: What emerging sports league is next?!
The biggest headline: Tiger Woods and Rory McIlroy’s TMRW Sports partnership with the NFL will see the creation of TMRW Flag Football.
However, many more sports are starting to take off with new leagues, many backed by an athlete owned and involved model.
We will dive into it on this week’s edition of Backstage.
LINEUP
1. Headlines of the week 🗞️
2. New Leagues, New Owners 🏟️
3. Athlete’s Perspective Ft. Casey Toohill 🧠
4. The Eye in the Sky 👀
5. Company of the Week Presented by OPTYO: Cob Foods 🍿
NEWS
🚨Headlines of the Week🚨

Tiger Woods and Rory McIlroy’s TMRW Sports to launch new pro flag football league in partnership with the NFL (see more below).
Giannis Antetokounmpo claims minority stake in IM8, a supplement brand co-founded by David Beckham and backed by Aryna Sabalenka and Ollie Bearman.
WHOOP raises $575 million at $10.1 billion valuation. Athlete investors include Cristiano Ronaldo, LeBron James, Rory McIlroy, Virgil van Dijk, and Kevin Durant, whose investment from 2017 gained 81x valuation.
Advent International acquires Salt and Stone, founded by former professional snowboarder Nima Jalali, for more than $500 million.
Malcolm Jenkins launches Pleasant Rock, an investment firm focused on sports and real estate, targeting $500 million.
Malcolm Brogdon joins University of Virginia Men’s Basketball as Strategic Advisor.
Haitian Soccer Icon Duckens Nazon signs 5-year equity partnership with Mabï Artisanal Tea.
A&A IN DEPTH
New League Lunacy

Earlier this year, TMRW Sports made headlines for its partnership with the LPGA to launch the Women’s TMRW Golf League, backed by Alex Morgan’s Trybe Ventures.
This week, they announced their partnership with the NFL for a new flag football league starting with $192M in funding, including $160M from external investors and $32M from the NFL. Though seemingly, Tiger Woods and Rory McIlroy (TMRW Sports founders) are not the only athletes venturing into new leagues in sports.
As we reported last year, the World Fencing League, started by Myles Chamley-Watson, is set to kick off this month.
The first MoonPay X Games League will take place this summer, backed by founding athletes Eileen Gu, Zeb Powell, Nyjah Huston, and more.
Shaun White’s The Snow League raised $15 million through numerous institutional investors including 359 Capital, BITKRAFT Ventures, and WISE Ventures.
Padel’s global expansion is charged by the Pro Padel League and the Hexagon Cup, with numerous athlete investors and team owners.
The Premier Jumping League, “backed by McCourt Global and shaped by leaders from equestrian sport” (Business Wire) announced its launch this week, with a record-breaking prize pot of $300 million.
Current and former athletes are choosing to use their capital and brand to invest in their respective sports, as well as those that are emerging. These emerging professional sports, each with their niche audience and participants, are increasingly being seen as innovative long-term plays with the involvement of private equity firms, tech investors, and athletes.
Ultimately, many of these leagues are built to better support athletes who may only have competitive opportunities through events with larger barriers to entry like the Olympics. Institutional backing brings legitimacy and financial stability to these new leagues, while athlete investors help grow audience interest and public awareness.
With athletes external to the sport and institutional investors to support these leagues, their credibility feeds back into the value of their investment, aiming to generate more consistent opportunities for athletes to compete, earn, and build a career, inside and outside of their sport.
ATHLETE INSIGHT
The Case for Stacking, by Casey Toohill

Recovery technology is deeply fragmented and honestly I am part of the problem. You can ask my wife. I own way too many recovery gadgets. Ice baths, saunas, Normatec, massage guns, BFR, float tanks. Where will it end? Each one takes time and is usually not cheap. Athletes are actually at the forefront of this craziness. Every locker room I have been a part of has tried stacking these for years. You throw everything at the wall to see what sticks. The problem is it's manual, expensive, and slow. You're scheduling multiple sessions, managing multiple devices, and hoping the combination does something better than the individual components alone.
I demoed the Ammortal Chamber recently. Full disclosure: I'm an investor, which is part of why I wanted to experience it firsthand. Three 15-minute sessions, two recovery-focused, one more energizing. I thoroughly enjoyed the experience and left with some thoughts on where the recovery and optimization category may be headed. Ammortal has been in the news lately, and for good reason. Mike Trout, Freddie Freeman, and George Kittle are among the athletes who have recently joined as investors, alongside players from multiple MLB and NFL teams (Business Wire).
Ammortal's pitch is simple: one chamber, multiple modalities, 15, 25, or 50 minutes. Whether the science on simultaneous stacking fully holds up is still being studied. Most research is done on singular treatments, and it's genuinely hard to study combinations, especially when some protocols heat the body and others cool it, some enhance blood flow while others restrict it. Therabody acknowledged that no independent studies had examined pneumatic compression combined with vibration and LED light therapy before they ran their own internal study on the JetBoots PRO Plus (Therabody).
That's not necessarily a dealbreaker. The experience and the efficiency argument can carry a product far. You have heard this pitch before: instead of spending time and money on multiple protocols, buy the one product that does it all.
The efficiency argument holds water. Therabody is the clearest example. Their JetBoots PRO Plus combine wireless pneumatic compression, infrared LED light, and vibration in a single boot (Therabody). Their ThermBack LED stacks heat, far infrared, vibration, and near infrared light therapy into one wearable back wrap (Therabody). That's not one product. That's a strategy.
The sports recovery technology market sits around $3.1 billion today and is projected to reach $10.5 billion by 2033 (Futuredatastats). Facilities are spending on recovery infrastructure. Wellness spas are adding modalities to justify memberships. My question is whether a single device that consolidates the experience becomes the obvious winner.
Top performers have been trying to stack modalities for years. Products like the Ammortal Chamber are trying to systematize that instinct. Whether the science is fully settled is an open question, but consumer behaviors are already there. Biohackers, weekend warriors, and recovery enthusiasts are buying the feeling of having covered all their bases efficiently.
Exclusive Offer:
OPTYO helps sports, fitness, and wellness brands grow their online presence by improving how they market and reach customers.
They are offering one month of their services for free (up to a $2,000 value) for Athletes and Assets™ Backstage readers.
To claim this, interested brands should visit the "Get Started" page at https://www.optyo.net/contact to schedule a Growth Strategy Intro Meeting. When prompted with "How did you hear about us?", select "Athletes & Assets."

MOST VALUABLE PLATFORM
The Eye in The Sky

We recently shipped this dashboard for companies and it's played a small part in the partnership deals executed these past few weeks 👀
Our improved company dashboard allows companies track their meetings, messages, and basic analytics, including which athletes have viewed their profile.
It also can preview what your company looks like from the athlete's perspective.
We want to empower founders with as much insights as possible to see who is a fit to join their team.
Admittedly we've been very athlete-side heavy in terms of tools and features, but it takes two to tango. Excited to share more company-side features as we collect more data points on how to accelerate deal speed.
For Founders/CMOs wanting to learn more about the magic we've created, please do not hesitate to reach out.
COMPANY OF THE WEEK
Company of the Week Presented by OPTYO: Cob Foods

Cob Foods makes sorghum-based, corn-free, gluten-free snacks and was co-founded by tennis star Novak Djokovic.
Why should athletes care?
Sustained energy in a snack
Gut health and recovery
Backed by an active elite athlete
Sorghum is an “ancient super-grain” which is slow digesting, helping provide steady energy throughout the day. Other ingredients like the prebiotic fiber supports gut health, supporting recovery, inflammation, and overall performance.
Watch our interview above with founder and CEO Jessica Davidoff to learn about how Novak Djokovic became a co-founder in the company and the role he plays to back the performance-focused nutrition over simple consumer snacking.


