The Future of Sport Business | The Young CEO Experience
Overtime partners with The Boardroom to present the experience of the young CEO
Last week our team was selected to participate in The Young CEO Experience powered by Overtime, Diploma, and The conference room. The Young CEO’s Experience was a free virtual conference for young sports professionals and business leaders in our ever-changing industry. The event highlighted the importance of a forward thinking approach and how some of the biggest sports companies are finding ways to be innovative during the global pandemic. Some of the panelists for the event included speakers like the NBA Commissioner Adam Silver, US – Open Champion Naomi Osaka, Brooklyn Nets Kevin Durant, and Head Coach Steve Nash. Here are some snapshots of the event that emerging entrepreneurs and sports business professionals can implement into their business practices.
Since taking over as NBA Commissioner in 2014, Silver showed his unique leadership approach that helps make the NBA one of the most progressive leagues in all professional sports. One of the most intriguing things I found about Silver was his trip. Prior to the start of his career with the NBA, Silver worked at a business law firm. It wasn’t until 1992 that Silver decided to leave the company and work alongside his predecessor. David stern as his special assistant. From that point on, Silver was a sponge absorbing all the knowledge and experience he could. He spoke about the importance of his decision making process and how your value system shapes the decisions people make.
As it has been an unpredictable year for professional sports, Silver has relied heavily on his values to help him develop strategic plans for the NBA. In early March, when the NBA shut down due to a player contracting the coronavirus, it was circulating on major sports media platforms, but also gave the American nation a much needed wake-up call. As the global pandemic reached an all-time high, a global revolution was also highlighted by racial injustices and police brutality. With the death of George floyd, and Jason blake, Silver and the NBA have decided to boycott games during the NBA playoffs. The bright spot that has come out of the NBA resume is the players’ high voice for justice, reform, and voting education. With the help of Silver and the NBPA teams and players have come together to create change in professional sport.
At the ripe age of 32, Kevin Durant built a historic career highlighting all of his unprecedented successes which include a 2x NBA Champion, 2x NBA Finals MVP and a Leagues MVP. Despite Durant’s success in the field, he inherited a more business-oriented approach with the creation of The conference room and Thirty-five companies.
During the Blueprint Session with Overtime CEO Dan Porter, Durant shared his personal experiences which allowed him to venture beyond his respective athletic career. Durant is more of a student of the game, studying with the musicians, creators, artists and architects who have changed culture. Durant shared his wealth of knowledge and ideas for a group of industry leaders and professionals who aim to rock the future of the sports industry.
Naomi Osaka has broken multiple barriers for women in sport. This year, the 23-year-old phenomenon became the highest paid female athlete in the world. In professional sport, there is a huge gender equity gap between men and women. But that’s not the case for Osaka, according to The Boardroom Osaka generates around $ 34 million in endorsements each year. Osaka has upped her brand since winning her second US Open title, making her a global icon in Japan and the United States. In 2019, Osaka signed an endorsement deal with Nike for $ 10 million / year, the question is, what will Osaka’s career look like over the next 5 years? It looks like she has reached the peak of her career so it will be interesting to see her career unfold in the future. During the plans session, Naomi shared her perspective with the co-founder of Thirty-five companies Rich Kleiman. Osaka spoke about the importance of having a global platform and standing up for social justice rights in America.
Brooklyn Nets head coach Steve Nash has joined the Young CEO Experience program to educate business leaders and industry professionals while giving them insight into the transition between different career paths. In 2014, Nash decided to retire from basketball after an iconic career. The former 2x MVP returns to the NBA to serve as head coach of the highly anticipated Brooklyn Nets. During his plans session with Overtime co-founder and chairman Zach Weiner, Nash shared his thoughts on the post-career and what opportunity he has been given for his identity. Nash closed with a personal message to aspiring entrepreneurs, young professionals and athletes looking to make their mark in the industry by emphasizing the importance of commitment, patience and sacrifice.
Young CEO experience
Powered by: Overtime, The conference room, Degree
Panelists: Adam Silver, Kevin Durant, Naomi Osaka, Steve Nash
Hosts: Chloé Pavlech, Rich Kleiman, Zach Weiner, Ros Gol-Onwude, Laurence Marsach
Written by: TGQ Inc.
Produced by: TGQ Inc.