When three veterans of legendary NFL agent Leigh Steinberg’s firm broke away in 2001 to launch their own talent agency, Athletes First, their plan, as the name suggests, was to put the needs of players over those of agents and teams. In the next two decades, it grew from a three-person shop in a Southern California living room to the largest talent agency in pro football, with a staff if 55 and sprawling offices in the posh Los Angeles suburb of Laguna Hills. Its 20 agents represent 300-plus players, including Green Bay Packers quarterback Aaron Rodgers, Dallas Cowboys quarterback Dak Prescott and Los Angeles Rams All-Pro defensive tackle Aaron Donald. Athletes First has negotiated more than $11 billion in contracts since its founding, including the richest guaranteed-money deal in league history: $230 million over five years for Cleveland Browns quarterback Deshaun Watson.
Today, the founders are set to announce that venture capital firms Mastry Ventures and General Catalyst are buying a majority stake. The new owners plan to bring a VC mindset to the agent business, says Mastry co-founder Rudy Cline-Thomas, helping players set up off-field ventures in addition to representing them in negotiations with teams. “We think we can build formidable businesses with these athletes, individually and as an aggregate, across industries,” says Cline-Thomas. “We’re turning them from players to owners.”
