Until recently, college athletes couldn’t get paid. With new laws, that’s changing—and The Player’s Trunk is one of the first marketplaces that allow fans to buy college athlete gear. Entrepreneurs Charles Matthews, Austin Pomerantz, Hunter Pomerantz, and Jason Lansing all worked together to create this online store. How did the sharks evaluate this business during the Season 13 pitch? Find out in our
Shark Tank Player’s Trunk Update
- Entrepreneurs: Charles Matthews, Austin Pomerantz, Hunter Pomerantz, and Jason Lansing
- Business: Marketplace for player-licensed college sports gear
- Ask: $650,000 for 5% equity
- Result: No deal
- Shark: None
At the time the episode was filmed, The Player’s Trunk had about $1.3 million in sales over a year. They were on the ground floor of the NCAA passing the Name, Image, and Likeness (NIL) clause, which allowed college athletes to get paid for branding themselves. However, their huge valuation and low equity offer put the sharks off of the business quickly.
Kevin O’Leary was the first to go out, mostly because of the ‘ridiculous’ valuation they wanted. However, other sharks were interested. Kevin Hart and Mark Cuban went in together to offer $650,000 for 30%. Kevin Hart is a household name, and Mark Cuban owns a sports team. They seemed like the perfect duo to blow this company up.
Barbara Corcoran, though, wasn’t familiar with the space and went out. Lori Greiner followed for the same reason.
The entrepreneurs tried to counter Kevin and Mark at $750,000 for 7.5%, but they won’t budget on their equity. As a result, the left the tank without a deal. Was that the right decision? Let’s take a look at our The Player’s Trunk update.
The Player’s Trunk offers more than just game-worn jerseys and gear. Now, you can also purchase player-exclusive shoes, signed trading cards, and more. The interest in these products seems to be solid, so we’re eager to get another Player’s Trunk update to see how it all works out.
Curious about the other products featured in Season 13 Episode 24? You can find our other company updates here:
Don’t forget to check out the rest of our Season 13 company updates on our Season 13 products page.