Multimedia Rights and NIL Considerations for Sports Startups

Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.

 

Episode Description: 

 

Jacob Shiffer (Fordham Law ‘23) is joined by David Connolly, Chief Legal Officer at Playfly Sports for a look at the  Multimedia Rights and NIL considerations for sports startups.  Together they discuss the legal considerations for entrepreneurs in the sports and media industry, including a history of Playfly Sports, initial legal issues for entrepreneurial companies in media, the advantages and disadvantages of a legal background and entrepreneurship, as well as NIL considerations. 

 

Episode Roadmap:

• [:30] Third-year Fordham law student Jacob Shiffer introduces David Connolly (Fordham Law ‘02).

• [1:31] An overview of the mergers and acquisitions practice.

• [3:05] Lessons David learned from his time with an M&A team.

• [6:18] Forming the idea behind Playfly Sports.

• [10:15] Legal considerations that are commonly overlooked by entrepreneurs.

• [12:47] Considerations for entrepreneurs who need help raising capital.

• [14:09] Advantages and disadvantages of David’s legal background.

• [17:16] Changes resulting from NIL (Name, Image, and Likeness) rule developments.

• [21:36] The impact of NIL on startups and entrepreneurs.

• [24:31] NIL issues entrepreneurs tend to overlook.

• [27:16] The potential impact of entrepreneurs and startups in this industry.

• [28:30] Fordham advice from a successful alumnus.

 

Tweetables:

• “People who were too concerned about risks may not be successful in the entrepreneurial side of the business.” - David Connolly

• “The advice I would give entrepreneurs is to think about how you want your business to grow and who the partners are who are going to facilitate that growth.” - David Connolly

• “If you’re bringing in an investor who can provide capital, you need to make sure you’ve got the right partner so they can help guide your growing business.” - David Connolly

• “Know the boundaries of where your expertise ends and when to bring in people who really are experts.” - David Connolly

• “NIL is all very new and people are trying to figure it out along the way.” - David Connolly

• “Entrepreneurs need to know, and embrace the fact, that they’re going to make mistakes and then learn from those mistakes.” - David Connolly

 

Mentioned in This Episode:

Additional Resources: 

• Fordham’s Entrepreneurial Law Clinic

• Follow us on Twitter @FordhamELC

 

Sponsors: 

• Nasdaq Educational Foundation

• Fordham’s Entrepreneurial Law Advisory Council

 

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