NFLPA Invests In DFS Company Through OneTeam Partners
The NFLPA has acquired an ownership stake in DFS company Monkey Knife Fight. The multiyear deal was negotiated through OneTeam Partners -- the joint venture created by the NFLPA, MLBPA and RedBird Capital Partners.
The deal includes a long-term licensing agreement, marketing and content components and significant player involvement in MKF’s fantasy offerings. Financial terms were not disclosed, nor was the size of the NFLPA’s stake in MKF.
Gaining ownership in North America’s third-largest DFS company marks a significant step for NFL players who typically have been excluded commercially from fantasy sports. “Professional athletes have historically been underleveraged by DFS companies despite athletes being the predicate for these games’ existence,” said OneTeam Partners CEO Ahmad Nassar. “We just want to be able to have that seat at the table and be able to dictate where things go from here.”
NFLPA Exec Dir DeMaurice Smith touted the deal as an important step in players’ efforts to take control of their rights. “This is where our players should be, in the forefront of entertainment, fan engagement, but also stakeholders in the business that is really dependent on what they do on the field,” Smith said.
The agreement figures to be sign of things to come in the fantasy sports industry. Monkey Knife Fight Founder & CEO Bill Asher said the NFLPA has "created a blueprint for future deals." Asher: "If you want to profit off the players, you have to share with the players through ownership."
NFL players will also play an active role in MKF’s content and marketing strategy, Asher noted. Players such as Texans QB Deshaun Watson and Cardinals CB Patrick Peterson will be “involved in everything from designing products, promoting products, talking to the fans about the products,” Asher said.
OneTeam is working on similar deals with other players’ unions, Nassar said. The NFLPA's partnership with MKF “cuts to the core of why we made OneTeam,” he added. "We’re able to go as one company and deliver the ability to work across athletes, across different sports, across genders," Nassar said.
