• Loading stock data...
Thursday, November 21, 2024

Overtime Raises $80M from Drake, Bezos, and Others

  • Overtime raised $80 million from Drake, Jeff Bezos, and others in a Series C round.
  • The company targets a young audience through social and digital media channels.
drake_holding_basketball
Drake/Design: Alex Brooks

Overtime raised $80 million in a Series C round and is now valued around $250 million.

The company’s investors could form a competitive NBA team: Devin Booker, Klay Thompson, and Pau Gasol were among 25 current and former NBA players to participate in the latest funding round. They join previous investors Kevin Durant and Carmelo Anthony.

The round also brought in Jeff Bezos, Drake, and Reddit co-founder Alexis Ohanian, and was led by Sapphire Sport and Black Capital.

Overtime produces content for all of the leading social platforms, meeting its audience — 88% under 35 — where they are.

Overtime also recently announced a new basketball league: Overtime Elite, which will pay top high school players at least $100,000 a year plus insurance benefits and allow them to profit off their name and image — a stark contrast to the NCAA. 

The league, comprised of around 30 rising high school juniors and seniors, will also function as a high school, providing classes to work toward a diploma.

However, joining Overtime Elite means forgoing traditional high school or college basketball.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
podcast thumbnail mobile
Front Office Sports Today

Who Can Actually Afford Juan Soto?

0:00

Featured Today

Nov 13, 2024; New York, New York, USA; New York Knicks guard Josh Hart (3) reacts after fouling Chicago Bulls guard Coby White (not pictured) during the second half at Madison Square Garden.
opinion

NBA Ratings Rorschach Test: Buy the Dip

Was it the election? Too many threes? Lack of storylines?
November 15, 2024

Executive Decision: When Richard Nixon Named a College Football Champion

In 1969, the 37th president unilaterally named the winner of the season.
November 15, 2024

How Women’s Sports Could Change in the Next Trump Era

Under the president-elect, Title IX could change drastically.
Former President Donald Trump waves to the crowd as he exits the putting green with his aide Walt Nauta, left, during the final round of the LIV Golf Bedminster golf tournament at Trump National Bedminster on Sunday, Aug. 13, 2023.
opinion
November 9, 2024

Trump Win Puts Sports Back in the White House

With Trump back in the White House, sports get more political again.

NBA Legend Hubie Brown Stepping Away From ESPN at 91

Brown has been associated with the league for over 50 years.
November 20, 2024

NFL Ratings Hold Strong Through Election Season, Chiefs Lead TV Pack

In 2016, NFL ratings fell 8% from the prior year.
Nov 19, 2024; Boston, Massachusetts, USA; The Boston Celtics and Cleveland Cavaliers play during the second half at TD Garden.
November 20, 2024

Cavs vs. Celtics Draws Big TV Numbers in NBA Cup Showdown

The game averaged 1.94 million viewers and peaked at 2.7 million.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
November 20, 2024

Comcast’s SpinCo: New Home for USA Network, Golf Channel, Sports Rights

The move by NBC Sports’ parent company reflects how dramatically the linear television business has changed.
Nov 18, 2024; Miami, Florida, USA; Philadelphia 76ers center Joel Embiid (21) looks on against the Miami Heat during the third quarter at Kaseya Center.
November 19, 2024

Will NBA Flex Last-Place Sixers From National TV Games?

Philadelphia is 2–11, tied for last in the NBA.
November 19, 2024

Bills’ Dethroning of Chiefs Draws Highest TV Ratings of NFL Season

The massive rating continues Kansas City’s dominance as the NFL’s No. 1 TV team.
November 19, 2024

Netflix Stock Rises Again As Tyson-Paul Fight Sets Streaming Record

The streamer says it generated 108 million global viewers for the bout.