"If I can't relate to it personally, I don't do it," Newton, a three-time Pro Bowler and former NFL MVP who led the Carolina Panthers to the Super Bowl in 2016, said of his investment strategy. He owns " Fellaship," a cigar bar located in Atlanta. Newton also has equity stakes in plant-based food companies Daring Foods and Dream Pops. It's unclear if the NFL quarterback profits from his teams through Overtime's business model. Newton said his involvement in OT7 is perhaps his most significant investment due to his "double-dipping." Newton will help run OT7 while continuing to coach his C1N teams that will compete in the league. Newton had an agreement with headphone company Beats, which is owned by Apple, but that deal expired in January 2020, the company told CNBC. Forbes also estimates Newton has made $5 million in annual endorsements from companies including Under Armor. Newton, 32, has made $133 million in his 11-year NFL career, according to Spotrac, a website that tracks sports contracts. Whether you have five stars or no stars, we want to give you that platform that highlights your skill set." "We've seen kids receive scholarship offers because of their seven-in-seven film." He said OT7 would provide "kids the exposure from the visual content that they need. "There has been this untapped market in seven-on-seven for years," Newton said. Overtime estimates 500 to 700 athletes could attend the league. Quarterbacks will have six seconds to throw passes. Overtime said the league would help develop players' passing and route-running skills. OT7 will allow one-hand touch for stoppage of play. The games will be played on 40-yard line segments of a regulated 100-yard NFL field, run 20 minutes each with no pads, and tackling is restricted. OT7 will feature up to 24 teams playing eight games each and a playoff round to determine a champion. Overtime said the move protects college eligibility but added it plans to pay for participation expenses such as hotel rooms and meals, but excludes equipment costs. OT7 football players, however, will not be paid for playing. OTE pays players a minimum of $100,000 in compensation, and it pledges to pay an additional $100,000 for college expenses should players not pursue the professional route. OTE says it provides financial literacy, life training and traditional education categories. ![]() The campus is the residence for OTE participants and league staff. Last year, Overtime built a 103,000-square-foot complex in Atlanta's Atlantic Station section. He added Overtime's social media audience is "not a massive consumer of live linear, but we think they will get there." "We want to build as much value as possible," said Porter. But the bet is that Overtime can eventually license the content to a bigger media company or streaming platform seeking a Generation Z audience. Terms of that deal weren't publicly disclosed and Porter didn't discuss specifics around OTE's revenue. In January, Meta struck a deal with OTE to create virtual reality dunk shows for its Oculus devices. ![]() Still, Overtime is growing its content deals around OTE. NBA scouts who spoke with CNBC about OTE said its too early to speculate the impact it could have on the recruiting landscape. The league is still in its first year of operation. The league allows younger basketball players to bypass traditional high school and collegiate levels while building their brand before becoming eligible for the NBA's draft. ![]() Personal Loans for 670 Credit Score or LowerĪ year ago, the company started its Overtime Elite, or OTE, basketball league, which is based in Atlanta. Personal Loans for 580 Credit Score or Lower They applauded when he came in, then chattered excitedly to him about holiday Twinkies, where he got his shoes and what they wanted for Christmas.Best Debt Consolidation Loans for Bad Credit On Monday – as with all child-centered events where Newton shows up – the kids sensed that this 24-year-old quarterback who pretends he’s an airplane before every game still has a lot of kid in him. It hosts a seven-on-seven high school football tournament each summer in Charlotte and recently put on “Cam’s Thanksgiving Jam,” an event that provided food to more than 1,100 local needy families. The foundation also hosted a School Pride day at Memorial Stadium in 2013 attended by nearly 800 students and teachers, and will do another one this coming May. Through the School Pride partner school program, the Cam Newton Foundation has donated over $225,000 to six local middle schools over the past two years. Newton has done far more in the Charlotte area than give away a few footballs for kids. That’s why his charity efforts concentrate on children. ![]() As for kids – they inherently “get” Newton.
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