Players Media Group has landed a top sponsor for its TV industry backed by notable professional athletes.
The company entered into a multi-year partnership with global investment bank UBS. The Swiss bank will provide input and co-create content for the channel. UBS will also be present in PlayersTV’s digital and streaming properties.
The conditions have not been made available. It’s a seven-figure deal, according to a source familiar with the deal and not authorized to discuss the terms publicly.
PlayersTV was launched last year with the support of several athlete investors, including National Basketball Association stars Chris Paul, Kyrie Irving, Damian Lillard and CJ McCollum. Major League Baseball legend Ken Griffey Jr. is also involved with the company.
The channel was created to help athletes get distribution for personalized content and it shares ad revenue with creators. PlayersTV is available on Samsung TVs, Dish Network’s streaming service Sling TV, and other platforms like Roku.
The media group was worth $20 million last spring, CNBC reported. The company declined to provide an updated rating.
UBS and PlayersTV will team up to produce Long Game, an interview-style series featuring former National Football League lineman Adewale Ogunleye, who now heads UBS’s sports and entertainment division. The parties also want to set up financial literacy programs to demonstrate “basics of budgeting and interest rates to taxes and income planning.”
“We are excited to partner with PlayersTV to create culturally relevant content that will educate viewers about the value of financial wellness through the eyes of their favorite athletes and heroes,” Jason Chandler, head of UBS wealth management, said in a statement. . “We believe in the power of learning through others’ experiences and hard-earned life lessons and know that our content will be relatable, easily digestible and informative to make a difference in viewers’ lives.”
Another show, which kicks off in the fall, is a 10-episode series called Front Office with Chris Paul. The behind-the-scenes show will feature athletes considering business ideas from fans.
“UBS and PlayersTV have shared values and are committed to creating athlete-led content to increase financial education and wellness and empower entrepreneurs and communities,” said Christina Milano, PlayersTV vice president of sports media and entertainment.
UBS is bracing for more presence in the US sports landscape this year. It is preparing to open the New York Islanders arena after the company signed a $350 million naming rights deal last July. UBS Arena will open for the start of the 2021-22 National Hockey League season.
UBS reported net income of $1.8 billion on Tuesday, but said revenues for the first quarter of 2021 were impacted by the scandal involving Archegos Capital. Shares of UBS closed 2% higher on Wednesday.