Prescient bets by the likes of Shaquille O'Neal and Serena Williams have triggered an explosion in tech investing among Europe's sports stars
Athletes including Andy Murray, Mario Götze, and Chris Smalling are backing the region's startups.In 2016, Shaquille O'Neal stumbled across a little-known video-doorbell company called Ring whileThe ability to communicate with anyone who came to his front door regardless of where in the world he was enamored the NBA legend so much that he decided to invest in the startup.
"Firstly: inspiration. The most successful athletes in the US have built the majority of their wealth off the court. Secondly: COVID. This 'pause' created a lot of time for athletes to reflect on the length of their careers and how quickly situations can change," MacDonald said. "I got interested in venture capital a couple of years ago, inspired by US athletes like Kevin Durant or Lebron James," Götze, 30, told Insider.
"While it's been mainly US athletes, it feels like more European athletes are now starting to get involved," Caroline Weir, a Scottish soccer player who plays for Real Madrid CF and the Scottish national team, said. "There's a really high bankruptcy rate for athletes post-career," MacDonald said."They often get terrible advice and either invest poorly or not enough, so now they're seeing venture and startups as a way to invest in the long term. It's more established in the US, but it's emerging as a trend in Europe."
Chris Smalling, a professional English soccer player who won two Premier League titles with Manchester United and who currently plays for Roma, has made a series of investments with a focus on sustainability in recent years through his consultancy, ForGood.and made a deal to back Allplants in recent years.
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