Let’s skip the small talk,

Things are finally starting to get warmer in NYC. It’s going to be a hell of a spring.

Recently, several athletes reset their markets. Jaxon Smith-Njigba, Tyler Linderbaum, and Catarina Macario all signed record deals at their positions.

Big contracts always get attention, but they also tend to change what shows up off the field.

This week, founder of Rec Technologies, Birju Kadakia, shares what founders actually look for when athletes invest in companies and join cap tables.

More on both in this week’s Backstage.

LINEUP
1. Headlines This Week 🗞️
2. What Record Salaries Really Mean 💰
3. Founder’s Perspective Ft. Birju Kadakia 🧠
4. March Sadness 🥺
5. Equity Agreement Education ✍️
6. Company of the Week Presented by OPTYO: Rec Technologies 📲

NEWS

🚨Headlines of the Week🚨

  1. New contracts for Jaxon Smith-Njigba, Tyler Linderbaum, and Catarina Macario have record-breaking numbers (see more below).

  2. Free agent offensive lineman Justin Pugh speaks with Good Morning Football on NFL BizWeek helping prepare players for life outside of football.

  3. NBA Vet Roger Mason Jr.’s sports incubator Vaunt acquired by Future of Sports Platform (FSP).

  4. LA Chargers’ Kendall Williamson joins Arena Talent’s Advisory Board, he announced on LinkedIn.

  5. Ashley “Charlotte” Flair, 14-time WWE Women’s Champion, makes six-figure investment for 10% equity stake in mental health advocacy and lifestyle brand Self-Care Is For Everyone.

A&A IN DEPTH

Records Broken, Leverage Built

Jaxon Smith-Njigba, Tyler Linderbaum, and Catarina Macario have all set new salary records at their respective positions.

  • Smith-Njigba became the highest-paid wide receiver in NFL history with a four-year, $168 million extension.

  • Linderbaum agreed to a three-year, $81 million contract with the Las Vegas Raiders, about 50% higher than the previous center record.

  • Macario’s move to San Diego Wave FC is largest total contract in women’s professional soccer history, worth roughly $8 million over five seasons.

These deals will be remembered as salary milestones, though, beyond income, they increase visibility, leverage, and the types of opportunities these athletes can access off the field.

Becoming the highest-paid player at a position brings visibility, and visibility drives brand value. That recognition opens doors for better investment opportunities and more ownership conversations. The contract becomes more than compensation and serves as the platform and the capital that funds everything that comes next.

With that platform, athletes can take equity instead of cash, invest in private deals, join ownership groups, build businesses while still playing, and make existing impacts on their leagues. Trinity Rodman is a recent example: after becoming the highest-paid player in women’s soccer earlier this year, she helped push forward the NWSL’s “High-Impact Player Rule,” which was applied for Macario’s contract.

Athletes are also reaching these financial milestones earlier in their careers, which gives them more time to invest, build businesses, and participate in the sports ecosystem while still playing. The contract is still important, but what athletes do with the credibility that follows is the harder and more interesting question to answer.

ATHLETE INSIGHT

Aligning With Athlete Investors

By Birju Kadakia, Co-Founder and CEO of Rec Technologies, an AI-driven software platform for community recreation.

When my co-founder and I started Rec a few years ago, we weren’t thinking about cap tables. We were thinking about the first time you step onto a field and feel like you belong. The pickup games in neighborhood parks that build lifelong friendships. And the coaches who saw something in us before we saw it in ourselves. Sports and recreation have a way of shaping identity, discipline and confidence long before anyone talks about equity or exits.

But as we’ve built Rec, we’ve realized that the investors you have around the table shapes the company just as much as your product roadmap. There has to be alignment from the start, and a shared belief in the vision.

The best athlete investors show up the same way they show up to compete. They prepare, study, and ask hard questions. They know greatness is built through repetition and rigor, not just speed and hype.

When they invest, they don’t just write a check. They bring perspective and real-life experience from operating under pressure and scrutiny, along with a commitment to long-term growth. They make introductions, open doors, and lean in when it matters.

We’ve been fortunate to partner with phenomenal athletes who are personally invested in our mission – Larry Fitzgerald, Kelvin Beachum, Kevin Durant and Rich Kleiman’s 35V, and Joe Montana’s Liquid 2 Ventures. They grew up on public courts and neighborhood fields, and are each deeply invested in making it easier for more kids and communities to access play.

On the other hand, the wrong investor – athlete or otherwise – treats startups like trading cards. They just want the headline, logo, or photo on the website, but don’t get to know the founders or the product. They don’t ask about the end users. They don’t care about the messy middle of building a company and a culture that lasts.

For me, alignment starts with one question: Do you feel personally aligned to our mission? Is this something you would care about, even if no one knew you invested?

Rec now powers access to sports and recreation for hundreds of thousands of families across more than 25 states. Athletes on our cap table have helped in tangible ways, opening doors and lending credibility.

When someone who competed at the highest level says access to sports changed their life, it reinforces that this isn’t just software – it means someone gets to step onto the field for the first time.

You can tell when someone cares because they go deeper than valuation. They ask to see the product demo and seek to understand how a first-time user discovers a league or instructor. They ask how we support the kid priced out of private leagues. And they want to know how we reduce friction, not just accelerate growth.

The right athletes and investors don’t sit on the sidelines. As a founder, my responsibility is to build a company at scale, and the right partners help make it happen.

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."

MADNESS

March Sadness

‘Sco Cos!

Did we deserve a timeout?

MOST VALUABLE PLATFORM

Equity Agreement Education

What’s up everyone, Noah here. We know agents and lawyers create most of the contracts for athletes. I don’t expect that to change too much even with advances in AI, even though the legal industry is getting re-invented with AI.

However, athletes have been asking more about what goes into an equity/advisory agreement. It’s our responsibility to do a better job of educating.

So we put together a comprehensive breakdown in our equity agreement page. Would love to hear your feedback and hopefully this is a helpful tool that creates ownership and generational wealth.

We used a real example and made annotations on it 👀 will share more soon!

COMPANY OF THE WEEK

Company of the Week Presented by OPTYO: Rec Technologies

Rec Technologies is an AI-powered software platform that helps cities and communities manage and grow local sports and recreation programs.

Why should athletes care?

  • Youth sports infrastructure

  • Community impact and access

  • Sports tech investment opportunity

Rec Technologies builds the software that helps cities and organizations run sports leagues and recreation programs.

For athletes interested in community initiatives or investing in the future of sports, Rec represents the infrastructure layer that supports how the next generation of athletes gets started.

Athlete investors in Rec include Larry Fitzgerald, Kelvin Beachum, Kevin Durant and Rich Kleiman’s 35V, and Joe Montana’s Liquid 2 Ventures, who participated in the company’s $11 million Series A round.



Want to get in front of ~8,500 of the most influential athletes and investors in Sports & Entertainment? Reply to this email and tell us why we should work together.



Athletes and Assets, Inc. accepts no liability for the content of this blog, or for the consequences of any actions taken on the basis of the information provided. Please invest responsibly and consult a financial advisor before making any investment-related decisions.

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