Derek Jeter's Media Company Raises $9.5 Million
He’s led teams to the World Series multiple times, but now Derek Jeter is leading a media company through a new funding round. So far, investors have responded well.
The Players Tribune, an athlete-driven media company that the former Yankees captain and shortstop founded last year after his retirement, has closed a $9.5 million investment from venture capital firm New Enterprise Associates (NEA) and others.
Joining NEA in contributing was Thomas Tull of Legendary Entertainment, who also participated in the startup’s previous fundraising round. The latest investment apparently will allow the Players Tribune to continue cultivating content and to expand the company’s staff. The site will increase its video presence in addition to producing written articles, podcasts, a radio channel and photography pieces.
What’s more, Players Tribune co-founder and president Jaymee Messler told TechCrunch that the site will include lifestyle content over the next year.
“We are excited to partner with this world-class team to build a unique media platform that can transform the relationship between athletes and their fans,” said Jon Sakoda, a general partner at NEA. Sakoda also will have a seat on the media company’s board of directors.