Welcome to Last Week’s Wins #7!
Happy Election Week! I hope you have voted or have your plan for tomorrow. Step away from the election news for a minute today and check out wins from sports and entertainment. Three NBA franchises get the spotlight today.
No matter who wins this election, the work being highlighted here will create lasting impacts that go beyond any 4-year presidential term.
Thank you for joining and sharing Win-Win-Win for another week.
WINS THIS WEEK
ATLANTA HAWKS COMMIT $40 MILLION TO EMPOWER ENTREPRENEURS
TECH ENTREPRENEUR INVESTS IN NBA FRANCHISE
WIZARDS ANNOUNCE PARTNERSHIP WITH PEPSI STRONGER TOGETHER
WHY THESE WINS MATTER
ATLANTA HAWKS COMMIT $40 MILLION TO EMPOWER ENTREPRENEURS
The Atlanta Hawks and Ressler Gertz Family Foundation are working to create avenues for Black businesses in Atlanta to get increased access to funding and other business development opportunities.
Tony Ressler, owner of the Hawks, and his wife run the foundation with the intention of partnering with local businesses and expanding long-term financial, marketing, and educational resources.
“I was like, why would we ever try to reinvent the wheel? They have what I want to support and, frankly, make bigger and better.” - Tony Ressler
The partnership is contributing $40 million to a variety of organizations in the Atlanta area. The Herman J Russell Center for Innovation and Entrepreneurship (RCIE) is receiving $5 million for programs focused on creating a network of partnership opportunities in Atlanta.
RCIE is the largest non-profit center for Black entrepreneurs in the country. Over the next 5 years, the organization is focused on creating 2,000 jobs and 250 startups as well as providing resources for over 700 businesses.
“Many of these young entrepreneurs didn’t grow up with the network of Wall Street contacts, of banking contacts, of venture capitalist contracts, or private-equity contacts.” - Tony Ressler
$10 million of the investment is going towards the NBA Foundation. $14 million is being allocated towards existing Atlanta partnerships, the State Farm Good Neighbor Club, city schools, and organizations like PRIDE and the Women’s Inclusion Network.
The Hawks organization was one of the first to hire a Chief Diversity & Inclusion Officer. $11 million of the investment will develop this pillar for the Hawks and other internally focused diversity initiatives.
Investments in financial education and these partnerships around Atlanta are creating opportunities for businesses to grow. By partnering with organizations across the entire city, this investment and action creates a framework for other cities and organizations to support local businesses and communities.
“I think the only difference between Bankhead and Buckhead is access, opportunity, and exposure. - Tony Ressler
This partnership was sparked by an authentic area of passion and found ways to distribute wealth towards a greater goal. Tony Ressler is using his 35 years of investment experience to create opportunities for the next generation in the city that has brought him success.
TECH ENTREPRENEUR INVESTS IN NBA FRANCHISE
The LHM Group and Miller family, led by Gail Miller, are selling their majority interest in the Utah Jazz and sports properties to Ryan Smith, co-founder of Utah-based Qualtrics for a reported $1.6 billion.
Qualtrics is a leader in customer-survey software founded by Ryan Smith and his family in 2002. The Smith family was able to integrate into practically every online survey we complete today. In 2019, Qualtrics was acquired by SAP for $8 billion.
The Smith/Miller family connection in Utah has been around prior to the sale. Qualtrics has been actively involved with the Jazz as the Exclusive Fan Experience, Insights, and Analytics partner and currently has a deal through 2024.
Jazz Guard Ricky Rubio and the “5 FOR THE FIGHT” patch
In 2016, Ryan launched the “5 For The Fight” jersey patch to support cancer research. This organization came out of his dad’s fight against cancer. The campaign has raised over $25 million since the partnership began using #5ForTheFight.
“My family and I decided this was the right time to pass our responsibility and cherished stewardship of 35 years to Ryan and Ashley, who share our values and are committed to keeping the team in Utah.” - Gail Miller
Ryan Smith has been very open about his plans to “play the long game.” Forbes senior editor Alex Konrad once said after an interview that, “the dude absolutely loves basketball and the Jazz.” Smith has shown his desire to merge community support and passion for sports through the basketball court in his basement and his actions to support communities in Utah.
Ryan Smith - Forbes Magazine 2019
Smith helped ramp up COVID testing in Utah and was also actively involved in Black Lives Matter Protests in June. He matched legal defense fund donations for protestors set by Qualtrics employees. He has been an activist towards increasing diversity in Utah tech businesses.
“There’s been discussion of that...I like Utah. I think the NBA asset, owning one is definitely probably one of the best investments you can have.” - Ryan Smith 2019 interview
Making the jump from Silicon Valley to the NBA is not new to the league. Teams with owners with tech industry backgrounds include the Brooklyn Nets, Dallas Mavericks, Golden State Warriors, L.A. Clippers, Sacramento Kings, and Washington Wizards.
The Jazz has been a Miller family asset for 35 years. Their properties include Vivint Smart Home Arena, G-League Salt Lake City Stars, and Triple-A Salt Lake Bees.
This acquisition by Ryan Smith was strategic and authentic. He deserves a win for the impact he has been able to create in the city he loves, similar to Tony Ressler in Atlanta. He managed partnerships with the goal of creating long-term relationships. Now, at the age of 38, Ryan Smith will be the youngest owner in the NBA.
WIZARDS ANNOUNCE PARTNERSHIP WITH PEPSI STRONGER TOGETHER
Pepsi and the Shaquille O’Neal Foundation have been working together to enhance the Pepsi Stronger Together brand. Pepsi Stronger Together was created in May 2020 to grow the network of community support needed in response to the pandemic.
The program is creating and expanding resources for organizations in Miami, Orlando, Memphis, and DC. Pepsi Stronger Together is working with grassroots organizations, recreation and parks departments, HBCUs, domestic violence resources, and police forces through the Close the Gap Foundation.
“This program might be one of the most substantial and important steps in helping our local communities to become stronger together. There has never been a more important time to look inward and focus on these grassroots initiatives, and I’m excited to join forces with Pepsi to help those in need.” - Shaquille O’Neal, CEO of the Shaquille O’Neal Foundation
The partnership between the Wizards and Pepsi focuses on facility restoration, community artwork, and mentorships. Basketball facilities at the Navy Yard near Nationals Park will be renovated and local artists will help decorate the space. Mentorships and education on topics such as voting and career possibilities will be highlighted during the Crucial Conversations Series.
“Pepsi Stronger Together is just the beginning of what will become an even bigger and more dynamic program for our associates, our partners, and our communities - allowing us to lead by example and put our words into action.” - Derek Lewis, President, South Division, PepsiCo Beverages North America.
The boots on the ground and community-focused mentality are creating a connection between Pepsi and the communities they are working with. The partnership is opening opportunities for local organizations and teams to work together while also bringing external forces like Pepsi into the community to help drive action.
The framework for a collaborative effort is being built in four cities and will hopefully expand into more markets as we enter 2021. The need for community support and networks is clear in 2020 and will continue to be evident for decades to come.