Founded last year by two basketball managers at the University of Michigan, The Players Trunk has emerged as a go-to platform to help ex-college athletes sell their game-used gear.
The startup opened a new revenue stream for former college stars and quickly gained traction as it sold thousands of items on its platform. The Players Trunk's profile rose further last March 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.
Last week, those conversations turned into action as the NCAA's board of directors adopted rule changes that officially allowed current college athletes to make money off their fame. And for The Player's Trunk, that means a whole new category of athletes is flocking to its platform.
With the new name, image and likeness (NIL) rules in place just last Thursday, The Players Trunk has already lined up gear from several notable athletes, including Syracuse basketball standout Buddy Boeheim, Villanova basketball player Collin Gillespie, and Clemson wide receiver Justyn Ross. The startup, which has a dual headquarters in Chicago and New York, also features merch from UCLA gymnast Margzetta Frazier, who went viral earlier this year after her Janet Jackson floor routine.
The Players Trunk can't sell game-worn gear like it can for athletes who've graduated (jerseys and shoes still belong to the university, co-founder Jason Lansing said), so the majority of its products for current college athletes include t-shirts, sweatshirts and autographed items. But the new NIL rules open up a new door for The Players Trunk, which can capitalize on a player's real-time performance and fame, rather than waiting until after they graduate.
"It opens up a whole new vertical for us," said Lansing, who's based in Chicago. "There are thousands of new athletes we can now work with."
The Players Trunk is experimenting with personalized video messages and Zoom calls from players, a concept that might sound familiar if you know of Chicago startup Cameo. Cameo is also taking advantage of the new NIL rules as players are joining its platform to connect with fans and earn additional income.
Lansing declined to say how much of a cut The Players Trunk takes from each transaction, though he said the "majority" of the revenue goes to the athletes. How much an athlete can earn on The Players Trunk will depend on a myriad of factors, including how well they play, how rabid their school's fan base is, and how good they are at promoting their merchandise. But Lansing said players like Boeheim, a well-known athlete that's likely to have another strong season with several nationally televised games, could pocket five-figures from the platform.
"There’s a lot of potential for the guys who can take advantage of it," he said.
The startup, which currently has four full-time employees and has raised a seed round of funding from Chicago VC firm Starting Line, is also eyeing in-person events and meetups as a way to connect fans to players face-to-face, Lansing said.
If you walk around just about any major college town in America, you'll find a t-shirt vendor selling gear with the faces and names of the school's top college athletes.
Now, players can take more control over their branding and earn income from their name and likeness. And already off to a fast start with its platform for graduated athletes, The Players Trunk wants to be the place fans can go to support their favorite players during the season, and become a platform to help college stars—who've been unable to earn such income during the NCAA's 115 year history—finally financially benefit from their fame.
