Athlete Narrative
12

12 of 16

Team

An ESOP, not a payroll

Structure

An ESOP, not a payroll.

Social was always going to decide this category, and we knew shortly after launch that we could not win that fight with hires. So we spent twelve months recruiting the people who already dominate each sport, and paid them in equity rather than salary.

Each VP owns a sport outright — their own audience, their own coach relationships, their own credibility with families in that vertical. It is why the company carries no social media payroll, and why distribution scales without a matching cost line.

The Athlete Narrative ESOP leadership team
4
Sports verticals seated
Baseball, basketball, football, and social distribution — all equity, no cash salary
2
Seats held in reserve
Soccer and parent education, both selected, both activate on close
~$80K
Annual headcount avoided
Social distribution handled by an owner rather than an employee
0.97×
Lifetime burn to ARR
What this team built per dollar consumed

Leadership

Who owns what, and what it de-risks

Every seat here exists because something specific would be harder without it. That is the only good reason to have a team page.

AF

Board

Andrew Fullmer

Chairman

What they own

Chairs the board and owns governance, capital strategy, and the relationship with this round's investors.

What it de-risks

A named chair is the difference between a founder-run company and a governed one. Investors underwriting a first institutional round want to know who holds management accountable between board meetings.

MC

Company

Matt Carter

Founder & Chief Executive

What they own

Built the company from zero to 29,287 users and $313K ARR on roughly $303K of cumulative burn, running out of Boise.

What it de-risks

Capital efficiency is the single strongest number in this deck, and it is a direct reflection of how this company has been run. Sub-1.0× lifetime burn to ARR is not luck.

BB

Baseball

Big Bucket Tony

VP of Baseball

What they own

Owns the baseball vertical end to end: audience, coach relationships, and sport-specific product input.

What it de-risks

Baseball has one of the most entrenched showcase economies in youth sports. A credible insider is how you enter it without buying your way in.

BP

Basketball

Braxton Picou

VP of Basketball

What they own

Owns basketball and the AAU-to-college pathway, the most relationship-driven recruiting funnel in the country.

What it de-risks

Basketball recruiting runs on trust networks that cannot be bought with marketing spend. This is distribution that a competitor's budget does not replicate.

AB

Distribution

Adam Botkin

VP of Socials

What they own

Runs organic social distribution across every vertical, and is the reason the company carries no social media payroll.

What it de-risks

Roughly $80K a year of avoided headcount, and an owned channel that does not reprice when ad auctions do.

HR

Football

Hunter Reynolds

VP of Football

What they own

Owns football — over one million US high school participants, the largest single roster market in the country.

What it de-risks

Football is the highest-volume vertical and the one where recruiting spend per family is heaviest. Owning it credibly is the largest single addressable slice.

VO

Soccer

VP of Soccer

Selected, activates on close

What they own

Identified and held in reserve. Soccer is the fastest-growing US participation sport and the natural first international vertical.

What it de-risks

The seat is filled the week the round closes, not months later while a search runs.

PE

Families

Parent Education Lead

Selected, activates on close

What they own

Owns the education layer that the whole free thesis depends on: rules, timelines, eligibility, explained before the deadlines hit.

What it de-risks

Education is the product's actual wedge. Nobody owns it internally today, and this round fixes that.

Ownership

Cap table

Fully diluted, before and after a $2,500,000 round at $20,000,000 pre-money.

HolderPre-roundPost-roundNote
Founders
ESOP — issuedSport VPs and leadership
ESOP — reservedUnallocated pool
Existing investorsIncluding any converting instruments
New investors, this round0.00%11.11%$2.5M at $20M pre-money

Ownership percentages are held until confirmed against the company’s records. A cap table is a legal representation and is not estimated. The new-investor row is arithmetic on the round terms and is correct as shown.

Instrument

To be confirmed — priced equity or SAFE

Pre-money

$20,000,000

Raise

$2,500,000

Post-money

$22,500,000

New-investor ownership

11.11%

Option pool treatment

To be confirmed — pre or post money

Board

Chaired by Andrew Fullmer

Hiring plan

10% of the round moves contractors inside.

Marketing is currently reinforced from outside the company. This round brings that talent in — converting contractor relationships into employed roles across the Enterprise and online verticals, which materially improves capital efficiency on every marketing dollar spent after it.

$522,000
Executive team cost
Annual, all staff, current run rate

Activate the soccer vertical

The VP is selected and held in reserve. Close funds the seat, and soccer is the natural first international vertical.

Seat the parent education lead

Education is the first step for most families and the wedge the free model rests on. Nobody owns it internally today.

Convert contractors to employees

Enterprise and online verticals both get serious upgrading, and marketing spend stops leaking margin to agencies.