In this modern age of sports and media, it's all about one thing: power to the players. Ask UBS, Players Media Group, and Chris Paul of the show called Front Office.
Starting with LeBron James' command and draw in the sport of basketball, players such as Chris Paul have been taking up ownership over their careers more and more over the past few decades, and have just taken another one.
The company Players Media Group, headlined by its television division (PlayersTV), has just inked a multi-year, seven-figure partnership with UBS, one of the world's largest international investment banks. Neither the athlete-backed company nor the Swiss financial giant have released any further details, but this is a huge step for a hallmark organization in professional sports, with Chris Paul in the middle of the venture.
For those that don't know, PlayersTV launched quite recently, backed primarily by NBA stars. Chris Paul spearheaded the group, which includes Kyrie Irving, Damian Lillard, and C.J. McCollum. Ken Griffey, Jr. of MLB legend has also gone in on the company.
According to CNBC, the media group as a whole was worth $20 million as of last spring, but has declined to update that valuation.
The goal of the new company, and particularly PlayersTV — as Chris Paul knows — was and is to create player-driven content, enabling players to really get into the drivers seat of their careers off the court and field. Two shows have already been greenlight by the partnership, the first being an interview-style series called Long Game, which focuses on the importance of financial education for athletes.
Chris Paul himself will head the fall lineup of offerings from this new venture with a 10-episode run of a series called Front Office, which features Paul (and possibly other athletes) fielding business ideas from fans in a style reminiscent of the current show Shark Tank.
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