Star athletes who have excelled in their professions are handsomely rewarded for their efforts and achievements. Those with a vision for the future make investments in companies that are likely to pay off when their illustrious careers in sports have faded into the archives and when the endorsements they once enjoyed are being taken up by fresher and new faces. This is just how the industry works but making hay while the sun is shining is a respectable and sensible action to take.
Some of these players prefer to take a more hands on approach with investments, getting more personally involved while others will invest in a variety of different businesses. It is generally the case that they approach investment from an individual perspective and it is rare to see a group of players invest in the sport that they are a part of, as a team. in a unique strategic financial move, David Ortiz has gathered a group of his cronies in the MLB together to invest in a private equity firm that relates directly to the sport of baseball. The name of the firm is Dugout Ventures.
Who is involved in the strategy
David has brought in a group of major leaguers from the past to form this dynamic team of investors including Tori Hunter, Nolan Ryan, Vernon Wells and Barry Larkin. Big names and also big bucks for a solid group for financing. Why not? After all, each of them knows all of the ins and outs of the baseball industry and the marketing of MLB related products.
What is Dugout Ventures?
Dugout Ventures is a private equity firm that maintains a singular focus for assigning its venture capital. It only funds businesses that are baseball related. The firm has already made investments into the Marucci company which is known for the production of baseball bats and the EvoShield company that specializes in protection and has recently been acquired by Amer Sports in the fall of 2016. The all star group began actively providing financing in July of 2016 and EvoShield received the financing that was needed for continued protection of the official protective gear that is used by MLB players.
Who Will be running the company?
David Ortiz is being credited with bringing the new investment team together. We're told that all of these lead investors will be taking an active role in overseeing the operations of the company. In addition, the team will work together in making decisions for the investments that they will make into other companies.
Each of the understand the importance of team work and working together to reach a common goal so we don't see where there should be any issues with the operations and executive decision making process. The group brings a high level of expertise to the company and this is why we're expecting some amazing results out of the new startup venture firm. One thing that they have to their advantage is that they are already familiar with the brands that offer the best quality and those which are the most preferred by professional players.
Years of professional experience, actual use of the products and some knowledge of marketing have given the group a good foundation but there is still a lot that the team has to learn. They are aware of this and have made a commitment to pull in help as needed from others who are in other aspects of the business. They are bent on making Dugout Ventures a success. They are currently open to additional investment in the company and looking at raising an additional fifty million dollars for the firm from other investors, according to Ortiz.
Other services offered by Dugout Ventures
The main focus of the firm, of course, it upon investments to support the game of baseball from a variety of angles and perspectives, but the company is also committed to offering other benefits. The veteran players understand how important it is to reach out to young players and to help them learn about how the business side of baseball works. They're working to give those newer to the game some useful insights from pros who have been there and have experiences and knowledge to share.
In addition to this, Dugout ventures has an interest in involving more MLB players to come on board. The invitation will extend to other former players as well as current players in the game. Barry Larkin shared his perspective by commenting on the strength of the fraternity that all MLB players are a part of. This fuels the desire to reach out and offer assistance for those who will be transitioning from player to former player without a lot of disruption to their lives. This can be a challenging time in the life of a professional baseball player and the group is committed to making this major life change a little easier.
Dugout Ventures is certainly backed by a group of powerful and influential men who are using their talents and experience to support and improve the game of baseball from a different angle. A much needed underscoring that addresses some of the areas that have needed the most improvements. In addition to supporting current players and those who are soon to retire, they also offer support for those who are up and coming in the game in order to grow teams for the next generation in baseball. Their approach is fairly holistic.
Will Dugout Ventures succeed in its mission?
They are certainly off to a good start. Not all investment ventures end in success stories, but the core of their mission is worthy and one that we believe will receive tremendous support from both a financial standpoint and from the moral aspects from those who believe that the sport of baseball is a highly valued commodity in the United States. We've all heard the saying that baseball is the great American pastime and it's really more than just a saying. We see it in the thousands upon thousands of dedicated fans who support the industry by attending games and purchasing MLB merchandise. They've got their ducks in a row and the perfect team for taking Dugout Ventures all the way. We're hoping to see them reach the top!
Written by Garrett Parker
Read more posts by Garrett Parker