Update: The Players Trunk came into the show asking for $650,000 for a 5% equity stake. Mark Cuban and Kevin Hart went in together on an offer of $650,000 for 30%, which the startup declined. Original story below.
A Chicago sports startup that's seen a boost from the NCAA's new name, image and likeness rules is set to appear on the season finale of "Shark Tank" this week.
The Players Trunk, a startup founded in 2020 to let ex-college athletes sell their game-used gear, will pitch the sharks Friday at 7 p.m. The lineup of sharks includes celebrity guest Kevin Hart.
The startup was founded by Chicagoan Jason Lansing and brothers Austin and Hunter Pomerantz of New York. All three were managers of their university's men's basketball teams (Lansing and Austin Pomerantz at Syracuse and Hunter Pomerantz at the University of Michigan). The trio saw an opportunity for college athletes to sell their game-worn gear after they graduate, and with the launch of new NIL laws in college sports, the startup began selling a range of other items from current players, opening up new revenue streams for both athletes as well as The Players Trunk.
The Players Trunk's vent viral in March 2021 as its #NotNCAAProperty T-shirts were worn by several basketball players during the NCAA tournament, sparking conversations about the need for athletes to take ownership over their name, image and likeness rights. Now the startup is poised for its biggest boost in visibility yet as it heads into the tank to pitch the sharks. But, according to Lansing, The Players Trunk's episode almost never made it to air.
The startup filmed their episode way back in September 2021, and weren't notified until three weeks ago that they would appear on the final episode of "Shark Tank's" 13th season.
"We’re sitting here from the start of the season to now, thinking that we probably weren’t going to get on," said Lansing, who wasn't allowed to share whether or not the startup landed a deal with the sharks.
With just weeks to prepare, the startup scrambled to fast-track new athletes to its platform, make sure its inventory was strong, and ready its website for what will likely be a major boost in traffic.
Some of the athletes that do particularly well on the platform, Lansing said, include Syracuse graduate Buddy Boeheim and current Michigan player Hunter Dickinson. And while there's an appetite for autographs, sweatshirts and other items from current players, the best-performing items are game-used gear from ex-athletes, Lansing said. (The startup can't sell game-worn gear, like shoes and jerseys, until players leave school.)
The Players Trunk says it's sold items from hundreds of athletes from more than 80 different colleges.
The startup has raised a seed round of funding from Chicago VC firm Starting Line, and Lansing was one of Chicago Inno's 25 Under 25 last year.
