This past weekend, Kona, Hawaii hosted the Ironman Triathlon World Championships. Once a year, the planet's best endurance athletes compete to be the best in the world in a historic race at the birthplace of the sport.
An Ironman triathlon consists of a 2.4 mile swim, a 112 mile bike race… and then a shorter marathon. It takes years to join a fanbase, let alone become the best. The problem is that it is not very profitable. At least for now.
Switzerland's Daniela Reeve is the highest-paid long-distance runner, earning $244,000 (£216,000) in 2021. This is slightly more than what German football club Paris Saint-Germain paid for star striker Kylian. happy birthday. .
Mbappe's and Riff's salaries may be vastly different, but there are similarities between the two athletes. No less desire to control their destiny. Mbappe re-signing his contract with PSG allows him to participate in the decisions of the team. Riffe and his colleagues are trying to make a big impact with an entirely new type of organization: the Professional Triathletes Organization (PTO).
PTO is an integrated seed owner, tri-media broadcaster, syndicate and commercial operator. The Athletics is owned by Sir Michael Morts, a Welsh venture capitalist and the author of the original Apple story. In fact, the PTO is more like Apple than your traditional sports organization — fast-growing, fan-friendly, media-savvy, employee-owned, socially conscious, and unafraid to challenge the political status quo. His influence is felt throughout the sport.
For example, Chelsea Sodaro won the Women's Ironman World Championship 18 months after giving birth to her daughter Skylar. Sodaro was an early supporter of the PTO's progressive maternity policy. As Sudaro says, “We don't have to choose between being international athletes and being mothers, we can do both, we just need a little help.
In any business where disruption starts, the smart money tends to follow. After an initial funding round of $12.5 million, PTO is said to be in the midst of a $30 million Series B round. This is just the beginning, but the company is taking the right steps towards stylish sports.
Dominant players in other sports
No wonder other sports are so admired. Track and field legend Michael Johnson advocated learning the sport from PTO lessons.
This change is beginning to affect major sports as well. It is said that they are looking to change the rules of American sports so that NBA players can own the teams they represent. Even Michael Jordan had to wait until the end of his career to buy a team – imagine the deal he would have made at the height of his fame. Meanwhile, in tennis, Novak Djokovic has been at the forefront of efforts to create a players' association from men's tennis' governing body, the ATP.
Similar bigwigs to the music industry are also flexing their muscles. Taylor Swift has given a masterclass in remastering her records as an artist to combat the sales of the ironically named Big Machine Records. Even the most recent filming at the NFL Superbowl Gala in 2023 wasn't enough to distract him from re-recording the material.
It is not a one-sided issue. Having your skills is also smart for business owners. When he created the sports agency Two Clubs, he realized that giving ownership in the organization was the most effective way to create internal motivation in the team and ensure that the cream of the crop remained in the business.
Plus, having great talent on the field can go a long way to building player credibility in the highly competitive football talent market. This is a very low amount, which is especially important if the sports team has a salary cap to move.
Sports change quickly. Gone are the days when athletes received a thank you check and disappeared from view. Athletes are not part of a big machine, they become machines. Now is the time to shake things up, says Taylor.
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