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Sunday, July 14, 2024

Caleb Williams Launches Investment Firm Before Signing a Bears Contract

  • The quarterback is starting 888 Midas for private equity, VC, and real estate deals.
  • He is expected to sign a four-year deal worth roughly $38 million.
May 10, 2024; Lake Forest, IL, USA; Chicago Bears quarterback Caleb Williams during a press conference before Chicago Bears rookie minicamp at Halas Hall.
David Banks-USA TODAY Sports

Caleb Williams, the top pick in April’s NFL draft who has yet to sign his first professional contract, is launching an investment firm. 

On Wednesday, the 6-foot-1 Bears quarterback announced 888 Midas, which will target private equity, venture capital, and real estate deals. 

“I always planned on being both an athlete and a businessman,” Williams said in a statement.

Williams’s investment team includes Sherif Guirgis, a former managing director at Main Street Advisors; Wolff Urban chairman and former Oakland A’s co-owner Lew Wolff; John Terzian, co-founder and co-president of h.wood Group; and Ross Walker, co-founder and managing partner of Hawkins Way Capital.

Williams has taken a unique approach to the business side of his career: Instead of using an established agent, he employs a team of advisers led by his father, Carl. During the draft process, Williams looked into having an ownership stake in the team that selected him, which is against NFL rules. 

According to Spotrac, Williams’s rookie contract is expected to be a four-year deal worth roughly $38.4 million with a $24.8 million signing bonus. Williams isn’t the only top-10 draft pick without a contract, as Jayden McDaniels (No. 2) and Michael Penix Jr. (No. 8) are also waiting in the wings. 

Williams started his college career at Oklahoma before following coach Lincoln Riley to USC in 2022. He won the Heisman Trophy in ’22, and was one of college sports’ top earners in name, image, and likeness deals, netting $10 million during his career, according to The Athletic.

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