Derek Jeter’s Players’ Tribune Raises $9.5M From NEA And Thomas Tull
Former New York Yankee Derek Jeter’s media ambitions are scoring in financial circles: His outfit, The Players’ Tribune — which handles athlete-produced text, audio, and video content — says today it fielded $9.5 million in Series B financing from a group that includes Legendary Entertainment’s Thomas Tull and New Enterprise Associates, the largest venture capital firm.
Players’ Tribune says in an SEC filing that it hopes to sell another $5.5 million of its equity. The funds will be used to “continue delivering impactful athlete-generated content across a variety of multimedia channels,” and expand production and business staff, the company says.
“Derek’s integrity, humility and commitment to excellence has attracted many of the most talented athletes and executives” to the company, says NEA General Partner Jon Sakoda who will join the board. He calls Players’ Tribune “a unique media platform that can transform the relationship between athletes and their fans.”
Jeter introduced his idea to build a media platform for athletes in October, after ending his 20-year baseball career. He partnered with Tull, a board member of The Baseball Hall of Fame whose studio produced the 2013 biographical film about Jackie Robinson, 42. In February, Players Tribune secured a distribution deal with AOL.