Salary Capped

Professional athletes and entertainers receive large paydays during their careers. However, many lack the knowledge or have the right people around them to not go broke. Wale Ogunleye, who played 11 years in the NFL, wants to change all that by leading UBS’ Athletes and Entertainers Strategic Client Segment. He joined host Tyler Kern on Salary Capped to share his experiences and current mission. The number one thing new drafts need to realize, Ogunleye said, is that “this is business time.” Players have to know they are the business of football now, and that’s true of anyone signing a lucrative contract. “We want to support them with the infrastructure to move into being an entrepreneur and businessperson. In investing, you need to know about the business. You wouldn’t go out on the field without knowing the playbook. It’s the same principle.” – Wale Ogunleye Ogunleye was in the same situation, and he admits he had zero financial literacy during his playing days. He’d like to see the league take a more proactive rather than hands-off approach. “Give players more life skills, balancing a checkbook, credit score awareness, and vetting those around them and also explaining a contract. There’s so much jargon and complex information. Help players understand it better,” he said. Because of his experience and so many cautionary tales, Ogunleye has become a disruptor to the industry. “We want to support them with the infrastructure to move into being an entrepreneur and businessperson. In investing, you need to know about the business. You wouldn’t go out on the field without knowing the playbook. It’s the same principle.” Ogunleye noted that sports stars and entertainers can build their own brands now and go direct to fans through social media. He believes this is the future of monetizing their brand and aligning with companies. To do that, they’ll need guidance and investors they can trust. At UBS, Ogunleye’s leadership of this new division is about bringing his experiences and the company’s to adapt to new needs and ensure the money they make lasts.

Adonis Jennings used to pound the gridiron in the XFL. Now the former football player is a clothier for Harper & Jones in Dallas. On this episode of Salary Capped, Host Tyler Kern talked with Adonis Jennings about the similarities between playing football and being a professional clothier. Jennings noted the hard work that both football and high-end clothing require. Both also require the skill to develop relationships with co-workers and clients. Some fun is also thrown in the mix. When the NFL Draft happens on April 29, players will be dressed up in the finest clothes. It is one of their biggest days, and one Jennings is familiar with, and some of his clients want to dress up in a suit and tie. Some want to wear a nice shirt. This year will be tricky with the pandemic, so some rookies will be attending, and some are staying at home, which will also affect how they dress. Jennings worked with Kwity Paye from the University of Michigan and Caleb Farley from Virginia Tech. According to Adonis, both will be wearing interesting suits, though Farley will be doing so from home. Dressing a future professional footballer requires the knowledge of a former professional football player. With unique sizing, considerable time will be spent fitting clothes to these athletes.

Many of us have seen our favorite athletes warm up before a game — and wondered what they are listening to to get themselves ready to perform. One entrepreneur took that a step further, launching a social media app based on that premise. This week on Salary Capped, host Tyler Kern sits down with Co-Founder and CEO of EarBuds, Jason Fox. During his second year in the NFL, Fox was looking at Cam Newton warming up with a pair of headphones on and was studying the quarterback’s routine. Fox wanted to mimic the ferocity Newton had before the game and was curious what was playing in his ears. The app was born not long after. EarBuds, which allows users to listen to the same music streams as their friends or celebrities at the same time, now counts other NFL stars, including Baker Mayfield (through Camwood Ventures), among investors. For Fox, the league provided a gateway into other interests. He knew he was going to have to prepare for life after football while he was still in the NFL, and he was enrolled in an MBA program while he was playing for the Dolphins. Kern and Fox also dove into how celebrities and brands are looking for more and more opportunities for collaboration and different ways to build community.

The Super Bowl is the biggest day of the year for the advertising world, but how do the brands measure success from their big-game commercial campaigns? Through the power of AI, one company is attempting to provide users with the “through the eyes” perspective of any consumer audience in an exact moment. This week on Salary Capped, host Tyler Kern sits down with the Director of Consumer Intelligence of Vizit, Adam Colasanto, who is helping global consumer brands increase sales by optimizing their visual content. The duo dove into a few products planning to advertise during the game and how they are measuring the impact of that presence.

What began as a pivot, Encore quickly realized how underserved many areas are in getting sporting events and concerts.