Categories: Business

Tom Brady’s Religion Of Sports Raises $50 Million Series B Funding Round

Tom Brady might be one of the biggest names in global sports, and his reputation appears to carry some weight within the business world, too. Whilst the current Tampa Bay Buccaneers quarterback may have one hand on an American football after deciding to do a U-turn on his premature retirement and commit to the gridiron once again, it does not appear that he is short of options when he does call it a day.

Indeed, many that follow the sport will know about his mega-deal with FOX Sports to become the network’s No. 1 color analyst once he does quit the NFL, as he was acquired to replace the departed Troy Aikman; who subsequently moved to ESPN and was followed by Joe Buck.

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However, it seems Brady might also have another rather lucrative business on his hands if recent news to have broken is anything to go by. The GOAT is one of the founders of the Religion of Sports brand and has recently seen the organization be extremely successful in its attempts to raise revenue.

The sports media production company that he co-founded with former New York Giant and potential FOX Sports colleague, Michael Strahan, and filmmaker and entrepreneur, Gotham Chopra, has managed to raise a huge $50 million in a new series B funding round that had been organized by Shamrock Capital.

What Is The Religion Of Sports Organization And What Does It Aim To Do?

The Religion of Sports brand has been created in order to shake up the streaming industry, with the company looking to try and bring an alternative to the networks that continue to provide content but are finding it hard to keep up with demand.

In order to do this, the company has already revealed that they would look to use the capital that they have managed to generate to grow its unscripted content business, look to invest in audio, create more scripted series, as well as focus on outside projects that include NFTs for athletes.

A Number Of Unscripted Productions In The Works

Religion of Sports has revealed that the company has a number of unscripted productions already in the works, with many of them either having the rights sold as a license or fully.

According to figures, around 90% of the company’s revenue is said to come from this type of content, whilst Brady has since admitted that they had not expected the rapid pace that they have experienced since the idea was born five years ago back in 2017.

And, perhaps the business would be able to boom further if he were to be able to achieve even more on the football field this season; something that bookmakers believe is a real possibility. According to NFL odds for Regular Season MVP 2022/2023, Brady is the 2nd favorite, with odds of +800. The main favorite is Josh Allen who is priced at +600. Brady’s team, the Tampa Bay Buccaneers, is also seen by online bookmakers to be the second most likely to win the Super Bowl in the following season (+750), with the Buffalo Bills (+650) having been named favorites.

Indeed, the company has already had success where Brady is concerned, as his show “Tom vs. Time” was one of the most popular shows to have been produced, as was the “Man in the Arena” TV series that was co-produced with ESPN.

Religion of Sports has used a variety of platforms to distribute its works, including social media outlets having been used, as well as streaming services and network TV.

A Number Of Organizations Have Entered This Space

Content that revolves around sports documentaries and TV series that have focused on professional athletes have all become incredibly popular for streamers in recent years, with the market continuing to grow. Indeed, there have been examples of success that should provide Religion of Sport some further confidence about the possibility of being successful.

Omaha Productions – which was founded by Peyton Manning – has managed to expand in recent years and produce shows that have been aired on the History Channel and ESPN, whilst LeBron James’ SpringHill managed to sell a minority stake for $725 million just last year.

Final Thoughts

There is still a lot that Religion of Sports want to be able to accomplish, but if there is one thing that we do know, it is perhaps to never discount anything when Tom Brady is involved.