Overtime (sports network)

Overtime is a sports media company geared towards Generation Z sports fans.[1]  The company distributes original sports content on social media outlets, including Facebook, Snapchat, and YouTube and sells apparel with its logos and branding.[2] In 2021, Overtime launched Overtime Elite, a professional basketball league for 16-19 year-olds.[3][4] In 2022, Overtime launched OT7, a low-contact, seven-on-seven American football league.[5]

Overtime
TypeSports Media
Founded2016
Founder
Key people
  • Dan Porter (CEO)
  • Zack Weiner (President)
OwnerOvertime Sports Inc.
Websitewww.overtime.tv

History

Overtime was founded in late 2016 by Dan Porter and Zack Weiner.[6]

Initially, Overtime focused on short-form content of high school athletes captured on iPhone technology developed by Porter and Weiner.[7] Overtime's social content helped grow the popularity of NBA stars including Zion Wiliamson[8] and Trae Young.[9] The company has expanded its offerings to include medium and long-form content.[10] In 2021, Overtime announced the launch of OT Films with docuseries on Cade Cunningham and Justin Fields[11] and a college athlete creator studio with its first project being an original series with Space Jam 2 star Ceyair Wright.[12]

In February 2017, Overtime raised a $2.5 million seed round with Greycroft and former NBA commissioner David Stern contributing.[13]

In February 2018, Overtime raised a $9.5 million Series A round with Andreessen Horowitz, BoxGroup, Kevin Durant, and returning investor Greycroft contributing.[14]

In February 2019, Overtime raised a $23 million Series B round with Spark Capital, MSG Network, Sapphire Ventures, Victor Oladipo, Carmelo Anthony, Baron Davis, and returning investor Andreessen Horowitz contributing.[15]

In March 2019, Overtime announced a partnership with MSG Network to develop simulcasts for NBA games.[16]

In April 2021, Overtime raised an $80 million Series C round with Jeff Bezos, Alexis Ohanian, Drake, Devin Booker, Klay Thompson, Trae Young, and Pau Gasol contributing.[17][18]

In March 2022, Overtime announced plans to launch a low-contact, seven-on-seven football league, OT7, with Cam Newton investing in the league.[19] OT7 officially launched in June 2022.[5]

In May 2022, Daymond John joined Overtime's board of directors.[20]

In August 2022, Overtime raised a $100 million Series D round with Liberty Media Corporation and returning investor Jeff Bezos contributing.[21]

In September 2022, Overtime announced a partnership with FootballCo to develop branded content for the 2022 FIFA World Cup.[22]

Overtime Elite
Main article: Overtime Elite

Overtime launched the Overtime Elite professional basketball league in 2021 for high school basketball players and international players between the ages of 16–19. Players receive a minimum salary of $100,000 annually, a signing bonus, and shares in Overtime's larger business. The company provides health and disability insurance and sets aside $100,000 in college scholarship money for each player if they decide not to pursue professional basketball afterwards.[3][4]

Overtime Elite built a 103,000 square-foot facility in Atlanta where players train, study, and compete.[23] Athletes participate in an academic program featuring a 4:1 student-teacher ratio and a curriculum offering traditional high school subjects alongside life skill-related subjects in financial literacy, social media and other media training, and mental health and wellness.[24]

Overtime Elite consists of 27 players divided into three teams who compete against each other and prep and postgraduate opponents. The three teams play in a playoffs and finals in March.[25]

In April 2021, Overtime Elite hired former NBA player, University of Connecticut head coach, and NCAA Champion Kevin Ollie as its first head coach and head of player development.[26]

In May 2021, Overtime Elite announced the signings of Matt and Ryan Bewley, the first prep underclassmen to sign contracts with an American professional basketball league.[27] The league also signed Dominican guard Jean Montero in June 2021 as its first international player[28] and 16-year-old Jalen Lewis, the youngest American professional basketball player in history, in July 2021.[29][30]

In September 2021, Overtime Elite announced an exclusive partnership with Topps to create basketball trading cards on Overtime Elite athletes, marking the return of Topps to basketball trading cards.[31] In October 2021, Overtime Elite announced Gatorade as a brand partner.[32]

In July 2022, Pau Gasol joined the Overtime Elite board.[33]

OT7

Overtime launched OT7, a low-contact, seven-on-seven American football league with Cam Newton, in 2022.[5] The first OT7 season was held in June 2022 in Las Vegas, Nevada. The first season featured 18 seven-on-seven teams from around the U.S. Participants included top-ranked quarterbacks Malachi Nelson, Dante Moore, Nico Iamaleava, and Jaden Rashida.[34] Over 100 Power Five recruits participated in the first season. The South Florida Express defeated Cam Newton's C1N in the OT7 finals.[35]

OTX

In February 2023, Overtime launched Overtime Boxing (OTX), which will debut as a four-event fight series in August 2023 at Overtime Elite Arena in Atlanta, Georgia.[36] The events will be aired exclusively on DAZN.[37] Nutrabolt and its drink brand C4 Energy were named the first sponsor in a multiyear deal.[38]

References
  1. Patel, Sahil; Mullin, Benjamin (2019-12-06). "Overtime, Gen Z Sports Oasis, Looks to Raise $40 Million". The Wall Street Journal. ISSN 0099-9660. Retrieved 2022-01-06.
  2. Young, Jabari (2021-04-22). "Jeff Bezos, Drake and others invest $80 million in sports media company Overtime". CNBC. Retrieved 2022-01-06.
  3. Draper, Kevin (2021-03-04). "A New League's Shot at the N.C.A.A.: $100,000 Salaries for High School Players". The New York Times. ISSN 0362-4331. Retrieved 2022-01-06.
  4. Gregory, Sean (November 8, 2021). "Inside the New Basketball League Paying High Schoolers Six-Figure Salaries". time.com. Retrieved August 14, 2022.
  5. Dixon, Ed (June 6, 2022). "Introducing OT7: Why is Overtime launching a new seven-on-seven football league?". sportspromedia.com. Retrieved August 19, 2022.
  6. Young, Jabari (2021-05-19). "Overtime selects Atlanta for its basketball league that pays 16- to 18-year-olds $100,000". CNBC. Retrieved 2022-01-06.
  7. "The Brooklyn Startup Helping High-School Athletes Go Viral". The New Yorker. 2019-06-19. Retrieved 2022-01-06.
  8. Gardner, David (2021-11-09). "Hype House of Highlights". The Ringer. Retrieved 2022-01-06.
  9. Young, Jabari (2021-03-04). "Overtime is starting a basketball league for 16-to-18-year-olds that pays at least $100,000 a year". CNBC. Retrieved 2022-01-06.
  10. McCarthy, Michael (November 18, 2019). "Overtime Aims To Be Next ESPN For Generation Z". frontofficesports.com. Retrieved August 13, 2022.
  11. Shea, Bill. "Cade Cunningham, Justin Fields and the new Overtime docs that give an inside look at rising stars of pro sports". The Athletic. Retrieved 2022-01-06.
  12. Andreeva, Nellie (2021-08-10). "Overtime Sports Startup Launches College Athlete Creator Studio, Signs NIL Deal With Ceyair Wright". Deadline. Retrieved 2022-01-06.
  13. McAlone, Nathan (February 22, 2017). "This founder who sold a startup for $200 million wants to build the next ESPN out of smartphone footage". Business Insider. Retrieved August 13, 2022.
  14. Spangler, Todd (February 14, 2018). "Sports-Media Startup Overtime Raises $9.5 Million From Kevin Durant, Andreessen Horowitz". variety.com. Retrieved August 13, 2022.
  15. Spangler, Todd (February 14, 2019). "Overtime Banks $23 Million From Spark Capital, MSG Networks, Carmelo Anthony and Others". variety.com. Retrieved August 13, 2022.
  16. Ogus, Simon (March 29, 2019). "MSG Networks And Overtime Collaborate To Tap Into Next Generation Of Basketball Fans". forbes.com. Retrieved October 18, 2022.
  17. Patel, Sahil (April 22, 2021). "Overtime Raises $80 Million From Jeff Bezos, Drake, NBA Stars and Others". wsj.com. Retrieved August 13, 2022.
  18. Young, Jabari (April 22, 2021). "Jeff Bezos, Drake and others invest $80 million in sports media company Overtime". cnbc.com. Retrieved August 13, 2022.
  19. Koons, Zach (March 29, 2022). "Cam Newton, Overtime to Launch New High School Football League". Sports Illustrated. Retrieved August 19, 2022.
  20. Sprung, Shlomo (May 17, 2022). "Daymond John Joins Overtime Board of Directors". boardroom.tv. Retrieved October 22, 2022.
  21. Fischer, Sean (August 9, 2022). "Overtime raises $100 million series D". axios.com. Retrieved August 13, 2022.
  22. Lepitak, Stephen (September 27, 2022). "FootballCo and Overtime Team Up For World Cup 2022 Branded Content Offer". adweek.com. Retrieved October 17, 2022.
  23. "New prep stars league building facility in Atlanta". ESPN. 2021-05-19. Retrieved 2022-01-07.
  24. "Overtime Elite rolls out its pathway to the pros". Sports Business Journal. sportsbusinessjournal.com. Retrieved 2022-01-07.
  25. "Overtime Elite announces 2021-22 schedule, roster for inaugural season". ESPN. 2021-10-13. Retrieved 2022-01-07.
  26. Gleeson, Scott (April 12, 2021). "Former UConn men's basketball coach Kevin Ollie to coach Overtime Elite, a league designed for top prep players". USA TODAY. Retrieved August 14, 2022.
  27. "Top HS juniors moving to Overtime Elite league". ESPN. 2021-05-21. Retrieved 2022-01-07.
  28. "Overtime Elite adds first international prospect". ESPN.com ESPN. 2021-06-04. Retrieved 2022-01-07.
  29. Shapiro, Michael. "Lewis Signs With Overtime, Becomes Youngest American Pro". Sports Illustrated. Retrieved 2022-01-07.
  30. Letourneau, Connor (2021-11-12). "The making of Jalen Lewis: America's youngest pro could change basketball". San Francisco Chronicle. Retrieved 2022-01-07.
  31. "Topps Marks Its Return to Basketball Cards With Exclusive Overtime Elite Partnership". Hypebeast. 2021-09-28. Retrieved 2022-01-07.
  32. "New hoops league for prep standouts signs deal with Gatorade". AP NEWS. Associated Press. 2021-10-18. Retrieved 2022-01-07.
  33. "Pau Gasol joins Overtime Elite Board". eurohoops.net. July 22, 2022. Retrieved August 14, 2022.
  34. Navarro, Manny. "Recruiting's social network: Overtime's star-laden highlights reaching millions at a fast clip". The Athletic. Retrieved 2022-10-07.
  35. "Building a 'Dream Team' from Overtime's inaugural OT7 event". 247Sports. Retrieved 2022-10-07.
  36. Coppinger, Mike (2023-02-21). "Overtime enters boxing ring with 4-event series". ESPN.com. Retrieved 2023-02-22.
  37. "Overtime moves into boxing with exclusive coverage on DAZN". SportBusiness. 2023-02-22. Retrieved 2023-02-22.
  38. Stern, Adam. "Overtime expanding into third sport with new boxing promotion". www.sportsbusinessjournal.com. Retrieved 2023-02-22.
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