Sport's Elite: Building Brands Beyond the Arena

KEY POINTS

• Elite footballers like Ruben Dias are increasingly focused on building personal brands that transcend their sports careers, aligning with values and long-term goals to ensure post-career success.

• Athletes such as LeBron James, Magic Johnson, and Lisa Leslie have shown that strategic partnerships, investments, and technological innovation can amplify an athlete's brand and business ventures.

• Data analytics and fan engagement are now critical tools for athletes in maximizing their marketability and creating a lasting legacy beyond their playing days.

👉 Bonus: Below you will find five ChatGPT prompts that you can use to develop your expertise in this area.

In the modern world of football and sport in general, the phrase “only the sport matters" has become antiquated. Today's elite footballers, like Manchester City's Ruben Dias, are not just athletes but burgeoning entrepreneurs and brand architects. The transition from focusing solely on on-field performance to cultivating a personal brand is now a calculated strategy for players to extend their influence and secure their future. This evolution signals a new era where the creation of a legacy goes beyond sports achievements, delving into values, partnerships, and a meticulously curated public image.

The Rise of Legacy Investing in Football and Beyond

Ruben Dias’s journey exemplifies this paradigm shift. Despite being a treble winner and at the peak of his career, Ruben is already preparing for life after football, embodying the concept of legacy investing. Legacy investing is about carving out a unique brand space and building an enduring brand that resonates beyond one's playing days. This process involves more than leveraging social media followers or seeking lucrative endorsement deals; it's about identifying core values and creating a brand architecture akin to a corporation.

This meticulous approach involves interacting with followers, sharing personal interests, and giving a glimpse into life beyond the pitch. For Ruben, who has millions of followers, this strategy is about deepening engagement and establishing himself as a multidimensional personality rather than just a football star. The aim is to cultivate a brand that embodies more than athletic prowess – a brand that aligns with his personal values and can evolve into a meaningful career after football.

Strategic Partnerships and Value Alignment

Elite athletes are now increasingly selective in choosing partnerships that align with their personal values or interests. Formula One driver Lewis Hamilton’s collaboration with Dior as an ambassador and guest designer, and Roger Federer's investment in the Swiss performance footwear company On, exemplify this trend. These partnerships go beyond mere endorsements; they reflect the athletes’ personalities and interests, creating a more authentic connection with their audience.

For Ruben, who is currently sponsored by Nike, this means carefully curating his portfolio of partnerships. The focus is not just on financial gain but on establishing long-term associations that reflect his brand identity. By sharing more about his life on social media, from his love of other sports to his fondness for fashion, Ruben is subtly shaping his public image while keeping future brand associations open. This strategy ensures that his brand remains authentic and appealing, providing a solid foundation for post-football opportunities.

Lessons from LeBron James and Magic Johnson

LeBron James and Magic Johnson exemplify how athletes can build powerful personal brands that translate into successful entrepreneurial careers. Both have demonstrated that with strategic thinking, a clear vision, and a strong personal brand, elite athletes can diversify their interests and build businesses that have a lasting impact.

With King James' empire, LeBron has taken the concept of legacy investing to new heights. From the outset of his career, he was deliberate in building his brand, partnering with companies that aligned with his values and long-term vision. His deal with Nike, for instance, was structured as a lifetime partnership, ensuring an enduring association. Beyond endorsements, LeBron has leveraged his brand to launch business ventures like SpringHill Entertainment, a production company that tells stories focusing on empowerment and cultural impact. He also co-founded Uninterrupted, a digital platform that gives athletes a voice, further cementing his role as an influencer both on and off the court.

LeBron's stake in Blaze Pizza and his investment in Fenway Sports Group, which owns Liverpool FC, showcases his business acumen and willingness to diversify his portfolio. He is not just a passive investor; he actively engages with these businesses, using his platform to drive their success. His involvement in the 2023 film "Space Jam: A New Legacy" also underscores his commitment to expanding his brand beyond the realm of sports. On October 9, Netflix will premiere „Starting 5“, a 10-part docuseries that takes viewers behind the scenes of the 2023-2024 NBA season. Produced by LeBron James' Uninterrupted, in collaboration with Barack and Michelle Obama’s Higher Ground and Peyton Manning’s Omaha Productions, „Starting 5“ is another example of LeBron’s legacy beyond sports.

Magic Johnson serves as another blueprint for elite athletes looking to build successful post-sport careers. His transition from NBA superstar to a business mogul is a testament to the power of strategic branding and entrepreneurship. Johnson’s Magic Johnson Enterprises has invested in a wide range of businesses, from movie theaters to Starbucks franchises, demonstrating his ability to identify and capitalize on diverse opportunities. His partial ownership stakes in the Washington Commanders (NFL), Los Angeles Sparks (WNBA), Los Angeles FC (MLS), in MLB’s Los Angeles Dodgers and Team Liquid, an eSports franchise, further solidify his status as a major player in the sports and entertainment industries. Beginning of September, “Magic” has joined the Washington Spirit’s investor group with team owner Michele Kang.

What sets “Magic” apart is his focus on community and social impact. Many of his business ventures are aimed at providing services in underserved communities, reflecting his commitment to giving back. This approach not only builds his brand as a socially conscious entrepreneur but also creates sustainable business models that benefit both his enterprises and the communities they serve.

Inspiration from Lisa Leslie’s Investment in Tech

Adding to the examples of athletes expanding into entrepreneurship is WNBA legend Lisa Leslie, who has ventured into the tech and metaverse space. In 2022, Lisa invested in LootMogul, a blockchain gaming platform aimed at enhancing fan engagement through experiences and merchandise. Her involvement as a brand ambassador and business partner in this venture reflects her commitment to embracing innovative technologies that offer fans unprecedented experiences. LootMogul’s vision includes setting up S.M.A.R.T. stadiums and providing unique opportunities for fans to connect with player ambassadors, showcasing how athletes can integrate cutting-edge technology into their brand-building strategies.

Lisa’s investment in LootMogul exemplifies how athletes can utilize their brand to push the boundaries of traditional sports engagement. By aligning herself with a company that merges sports with the metaverse, she illustrates the potential for athletes to be at the forefront of technological innovation in fan interaction. Lisa emphasizes the importance of accessibility in her investment choices, highlighting her desire to create inclusive experiences for all fans. Her approach shows how elite athletes can leverage their influence to support ventures that not only align with their personal values but also drive the sports industry forward.

A discussion between Frida AI Fridason (Entrepreneur & Advisor, former S(ai)lor) & Tom AI Tomson (Entrepreneur & Investor, former Mount(ai)n Biker) on the topic:

Be aware that this is one of our AI experiments, so Frida and Tom don’t really exist.

👉 You can find our other podcasts collected in our Athletes in Business Lounge.

The Athletic Entrepreneur: Redefining Post-Career Success

The concept of the athletic entrepreneur is gaining traction among footballers, moving away from traditional investments like restaurants, bars, or real estate. Former players and athletes who have become successful entrepreneurs and business leaders are paving the way for this new breed of athlete. More and more companies and offerings are emerging that support athletes make the transition to new careers beyond sport. This shift in mindset signifies a growing awareness among athletes about the importance of building a brand that extends beyond their sports career.

Mario Götze, the World Cup-winning German footballer, echoes this sentiment, emphasizing the need to start building a brand while still playing. Mario, who still plays for Eintracht Frankfurt, has publicly discussed the importance of leveraging an athlete's potential to expand into different fields. His approach underlines the idea that the best time to lay the groundwork for post-football success is during one’s playing career when the spotlight is brightest, and the athlete's brand is most visible.

The Process of Brand Building: Strategy Over Spontaneity

Building a personal brand is a complex process that requires careful strategy and long-term planning. The foundation of everything is understanding an athlete's experiences, personality and core values. The process involves hours of conversations to uncover the DNA of the athlete's brand, moving beyond managed personas to create a genuine representation of who they are. Since often even athletes are not aware of the “assets” that lie dormant within them, the experiences, personality and core values ​​of an athlete must not only be understood in the abstract, but athletes must make it part of their DNA that they are much more than just athletes. This process is also extremely important and requires a very individual approach, since the authenticity that is necessary to convey via social media only becomes visible when athletes can actually embody this DNA beyond sport.

Gary Neville, a former Manchester United and England defender, serves as a case study in successful brand building. His transition from football to television punditry and business ventures shows the power of a well-crafted personal brand. Gary's public-facing talent, combined with his business acumen, has enabled him to carve out a post-football career that rivals his on-field achievements.

All in all, building a personal brand is not a quick fix; it requires time, effort, and a willingness to evolve. This is evident in all the careers of athletes who have developed into successful entrepreneurs, business leaders, and speakers alongside and after their sports careers. Initial difficulties in articulating one's own messages in business roles and products outside of sports are the norm and show the iterative process of brand development. In the end, the key to opening doors is to establish a reputation step by step, develop the networks beyond sports, build trust and gain influence - elements that are cultivated over time.

5 PROMPTS THAT ATHLETES CAN USE TO DEVELOP AND BUILD EXPERTISE

• What are the key steps in creating a personal brand as an elite athlete, and how can I align it with my values and long-term career goals?

• How can I identify and approach strategic partnerships that align with my personal brand and enhance my business opportunities post-retirement?

• What lessons can I learn from athletes like LeBron James, Magic Johnson, and Lisa Leslie in diversifying investments and building a successful entrepreneurial career after sports?

• How can I use data analytics to enhance my social media reach and marketability, and what metrics should I focus on to maximize my brand value?

• What are some innovative ways athletes are using emerging technologies like blockchain, the metaverse, and fan engagement platforms to expand their brand beyond the field?

👉 Check ChampionsChat GPT for your prompts.

Leveraging Big Moments and Data Analytics

One advantage footballers (NBA and NFL players) have in brand building is the significant impact of their big moments on the field. These moments can lead to a surge in social media following and influence. For instance, Ollie Watkins gained nearly 200,000 followers after scoring a decisive goal for England, and Jude Bellingham's following skyrocketed by nearly 1.8million to 34.8million during the European Championship. These moments provide a springboard for athletes to amplify their personal brand and engage with a broader audience.

Beyond leveraging big moments, footballers, NBA and NFL players are increasingly turning to data analytics to quantify their value and enhance their marketability. Players like Kevin De Bruyne (Manchester City) have used analytics to inform contract negotiations, while services like ProDataStack offer insights into performance figures and social media reach. By understanding and utilizing metrics such as "reach," athletes can strategically position themselves and demonstrate their value to potential partners and sponsors.

The Role of Data in Brand Development

Data analytics also play a crucial role in helping athletes develop their personal brands. By analyzing social media activity, marketability, and performance metrics, players can identify areas for improvement and optimize their brand strategies. Fiona Green, the founder of ProDataStack, emphasizes the importance of the "reach" metric (produced by combining mentions and interactions) – the number of people touched by a brand – over mere social media following. This metric provides a more comprehensive understanding of an athlete's influence and potential marketability.

For female athletes, data analytics offer opportunities to innovate and develop the women’s game. Maria Karlsson De Cecco, CEO of agency CMG, believes that harnessing data can help female players and managers enhance their brands and advance the sport. By using data to guide branding strategies, athletes can make informed decisions and maximize their impact both on and off the field.

A New Era for Athletes

Social media changed the game a long time ago, but those savvy enough to recognize the opportunities are finding ways to make it work to their advantage. The strategies employed by Ruben Dias and other elite athletes mark a new era where building a personal brand is as crucial as developing skills on the pitch. This evolution reflects a broader shift in the sports industry, where athletes are viewed not just as performers but as multifaceted personalities with the power to influence, inspire, and lead in various domains. The focus on legacy investing, strategic partnerships, and data-driven brand development demonstrates a sophisticated understanding of the modern landscape where the sports' elite are crafting enduring legacies that transcend their sporting careers.

In conclusion, the landscape for elite athletes has evolved dramatically, with brand-building now being an integral part of an athlete's career. From legacy investing to leveraging data analytics, athletes like Ruben Dias, LeBron James, Magic Johnson, and Lisa Leslie are redefining what it means to be successful both on and off the field.

The modern athlete is not only a sports star but also a brand architect, an entrepreneur, and a community leader. This evolution highlights the importance of strategic thinking, value alignment, and technological engagement in creating a personal brand that can stand the test of time. Athletes who embrace these principles are not just securing their post-career futures; they are also setting a new standard for how elite athletes can use their platform to influence, inspire, and innovate. This shift underscores a broader change in how athletes can impact industries beyond sports, signaling a future where the athletic career is just the beginning of a much larger legacy.

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I really appreciate you reading my note today.

Cheers,

Irg

Irg’s work is provided for informational purposes only and should not be construed as legal, business, investment, or tax advice. You should always do your own research and consult advisors on these subjects. This work may feature assets and entities in which the author has invested.

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