Deal Brief · Week of Jul 13
Tracking the deals shaping the business of culture.
Investments
Alma Mater draws a group of athlete-investors
The golf footwear startup, founded by Nike Golf and FootJoy alums, brought on a wide roster of athlete backers — including NFL players Jordan Poyer and Levi Wallace, MLB veterans Kevin Millar and Jackie Bradley Jr., NHL legends Joe Pavelski and Tyler Seguin, and professional golfers Taylor Montgomery and Natasha Oon — ahead of a new fundraising round. Its shoes use a proprietary three-piece construction platform.
APEX takes a stake in the Northern Super League
The athlete-backed investment firm — whose 100+ backers include Carlos Sainz, Lando Norris, and Giorgio Chiellini — is investing an initial $20M in Canada’s first professional women’s soccer league, with an option to reach $30M. The deal values the NSL at roughly $85M.
Fundraising and acquisitions
David Beckham’s IM8 raises $1B
Beckham’s wellness startup secured $1B in growth financing from General Catalyst’s Customer Value Fund. Under the structure, the fund covers up to 70% of IM8’s monthly marketing spend in exchange for a capped return tied to each month’s cohort of newly acquired customers.
Full Swing, the Tiger Woods–backed golf simulator, acquired for $530M
Versant — the Comcast spinoff that owns Golf Channel — is buying Full Swing from Bruin Capital for $530M. Woods has held a stake since 2015; the company powers TGL, the league he co-founded with Rory McIlroy, and is the PGA Tour’s official simulator.
New ventures
Megan Thee Stallion launches her first fragrance with Coty
The three-time, Grammy award-winning singer launches her new fragrance, Hot Girl Summer Eau de Parfum, marking the latest expansion of her growing business portfolio. Developed in partnership with Coty, the limited-edition product is designed as a unisex offering, and will debut through an exclusive launch with Ulta Beauty. This marks the latest extension of her Hot Girl Summer brand, which started as a Walmart swimwear line and has since grown into menswear and pet apparel.
Michael Strahan’s SMAC Productions launches a podcast network
The media platform Strahan co-founded with Constance Schwartz-Morini is launching a podcast network this fall, anchored by two flagship shows — one with Terrell Owens and Chris Spencer, the other with Strahan and Schwartz-Morini.
Brand endorsements
Hailey Bieber and Gap launch The Hailey Jean denim capsule
Bieber reimagines Gap’s relaxed denim icons through her own ‘90s-leaning lens, with two fits — the Extra Baggy and ‘90s Low Rise Loose — anchoring a limited-edition capsule and campaign.
Kylie Jenner teams up with Dunkin’ on the King Kylie Collection
A limited-time nod to her “King Kylie” era, the collaboration pairs a retro campaign with three pink-hued drinks: a Candy Pink Lemonade Refresher, a Vanilla Pink Cloud Latte, and a Pink Lemon Drop Suncloud Lemonade.
Graff taps BTS’s Jung Kook as its first-ever global ambassador
British luxury jeweler Graff made history in by appointing BTS member Jung Kook as its first-ever global house ambassador in its 66-year history. He fronts the House’s new Laurence Graff Signature campaign in pieces from the brand’s unisex goldwear collection.
Michael Jordan named Upper Deck’s first Legacy Partner
Jordan extended his 30-year relationship with Upper Deck, granting the company exclusive rights to keep producing his authenticated autographed collectibles — and taking a more hands-on role in product selection and creation.
Sachin Tendulkar becomes the face of Sulphur Mills
The cricket icon signed on as brand ambassador for the Indian agriculture company, lending his national reach to a push for sustainable farming technologies and soil health.
Darian Mensah signs a luxury watch NIL deal with Derby Watch Supply
The Miami quarterback inked one of the first-ever luxury watch NIL partnerships ahead of his Hurricanes debut, promoting the Rolex Datejust after leading Duke to an ACC title last season.
Media deals
Viola Davis inks a first-look deal with Universal Global Television
JuVee Productions, Davis and Julius Tennon’s company, signed a first-look TV deal with UGT — kicking off with Pawn, a romantic drama adapted from a Kennedy Ryan short story.
Roles and appointments
Landry Fields joins Project B to lead its men’s basketball division
Project B, the new global basketball league, has named former Atlanta Hawks general manager Landry Fields as its head of men’s basketball. The league will feature 6 teams with 11 players and plans to expand across Europe and Asia. Valencia, Spain, and Tokyo have already been announced as two of the host cities. It has started rolling out its women’s circuit, with participation from Dallas Wings rookie Azzi Fudd, former WNBA MVP Nneka Ogwumike, Alyssa Thomas, Jonquel Jones, Jewell Loyd and Seattle Storm rookie Awa Fam.
Jeremy Lin makes his in-game broadcasting debut
Lin called live games at NBA Summer League in Las Vegas alongside play-by-play announcer Drew Carter, providing on-air commentary and analysis in his broadcasting debut.
Really interesting take on how customer financing is evolving beyond traditional venture capital. The funding model may end up being just as important as the celebrity brand behind IM8. It’ll be interesting to see whether more consumer startups follow this path.
The real story in IM8 isn't the $1B headline, it's the structure. General Catalyst isn't buying equity, they're funding customer acquisition and taking a capped return off each cohort's revenue. That means IM8 keeps the brand and the cap table clean while someone else carries the marketing risk. Most athlete-led brands do the opposite - they burn their own cash or give up equity too early just to get the flywheel moving. The APEX-backed Northern Super League deal is the same principle from the investor side: pooled athlete capital getting into a league at an $85M valuation before it's a known asset, not after.