In the world of college sports, athletes often accumulate a significant amount of gear throughout their careers. Historically, these athletes were prohibited from profiting off their own names, images, and likenesses (NIL), leaving them with piles of memorabilia and no legal means to monetize it. This changed with recent NCAA rule modifications, allowing athletes to benefit from their NIL rights.
Recognizing this opportunity, four entrepreneurs—Charles Matthews, Austin Pomerantz, Hunter Pomerantz, and Jason Lansing—founded The Player’s Trunk, an online marketplace where college athletes can sell their gear directly to fans. Their innovative approach aimed to bridge the gap between athletes and supporters, providing a platform for authentic memorabilia exchange.
The Player’s Trunk made its appearance on Season 13, Episode 24 of Shark Tank, seeking an investment to scale their operations. The founders asked $650,000 for 5% equity. Despite presenting a compelling business model and demonstrating significant early success, the founders left the tank without securing a deal. This article delves into their journey, the challenges faced during their pitch, and the subsequent developments post-Shark Tank.
The Players Trunk Net Worth Shark Tank Update 2025
The founders were looking for an investment of $650k in exchange for 5% equity in the company. At the time of the episode, they valued The Player’s Trunk at $13 million. They did not secure a deal with any of the Sharks. Since no deal was made, the company’s net worth stayed at around $13 million. After the show was aired, The Player’s Trunk saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of The Player’s Trunk is around $18 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Barbara Corcoran
Out
N/A
N/A
Lori Greiner
Out
N/A
N/A
Kevin O’Leary
Out
N/A
N/A
Kevin Hart
$650,000 for 30% equity
$750,000 for 7.5% equity
No
Mark Cuban
Out
N/A
N/A
Charles Matthews Backstory + Their Initial Pitch
Charles Matthews, a former University of Michigan basketball player, alongside Hunter Pomerantz, Austin Pomerantz, and Jason Lansing, all with backgrounds in college athletics and sports management, identified a common issue among athletes: the accumulation of team-issued gear with no platform to monetize it post-career. Their firsthand experiences highlighted the lack of a centralized marketplace for such memorabilia.
The idea for The Player’s Trunk materialized when Charles and fellow athlete Zavier Simpson sought assistance from Jason and Austin to sell their gear on Instagram. Recognizing the inefficiencies and limitations of this approach, the group envisioned a dedicated platform to facilitate these transactions.
Launched in 2020, The Player’s Trunk allowed athletes to list and sell their gear, with the company handling logistics like photography, shipping, and customer service.
During their Shark Tank pitch, the founders requested $650,000 in exchange for 5% equity, valuing the company at $13 million. They highlighted their achievements, including over $1.3 million in sales within a year and partnerships with more than 800 athletes. Their revenue model involved taking a 20% commission on sales of game-worn gear and 40% on branded merchandise.
Queries + Shark’s Responses, and Final Deal
Kevin O’Leary immediately questioned the company’s valuation, comparing it to public companies with similar revenues. He expressed skepticism about the $13 million valuation, especially given the $200,000 profit from $1.3 million in sales. Upon learning that the company had previously raised $1.2 million at a $10 million valuation, O’Leary deemed the current ask unreasonable and opted out.
Barbara Corcoran and Lori Greiner both expressed unfamiliarity with the sports memorabilia market, leading them to decline participation.
Kevin Hart acknowledged the potential of the business but felt that a 5% stake was insufficient for his involvement. Recognizing the value they could bring, Hart and Mark Cuban teamed up to offer $650,000 for 30% equity. Cuban emphasized the strategic advantages of their involvement, stating, “You’re asking us to give money, but you need us to go work for you… Mark Cuban’s money and Kevin Hart’s money, and name is a whole lot greater.”
The founders countered with an offer of $750,000 for 7.5% equity, but Hart and Cuban stood firm on their 30% demand. Unable to reach a consensus, the founders exited without a deal.
What Went Wrong With The Players Trunk On Shark Tank?
Several factors contributed to The Player’s Trunk not securing a deal. The $13 million valuation, based on $1.3 million in sales and $200,000 profit, was deemed excessive by the sharks. The company had already raised $1.2 million at a $10 million valuation, limiting flexibility in equity negotiations. Offering only 5% equity was seen as insufficient, especially considering the strategic value and involvement the sharks would bring.
Some sharks lacked experience in the sports memorabilia space, making them hesitant to invest.
Product Availability
The Player’s Trunk offers a diverse range of products, including game-worn jerseys, player-exclusive shoes, signed trading cards, and branded merchandise. Athletes from various sports—basketball, soccer, track and field, baseball, lacrosse, and women’s volleyball—list their items on the platform. Fans can browse “trunks” categorized by school or athlete, making it easy to find desired memorabilia.
The company also hosts auctions for premium items, with notable sales like Cassius Winston’s Final Four jersey fetching $5,000.
All products are available for purchase on their official website, theplayerstrunk.com. The platform handles all aspects of the transaction, ensuring authenticity and quality for buyers.
What Happened To The Players Trunk After Shark Tank?
Despite not securing a deal on Shark Tank, The Player’s Trunk continued to grow. They expanded their product offerings, introducing limited edition playing cards featuring college athletes and launching a dedicated auction site for signed gear. Their athlete roster grew, encompassing a broader range of sports and increasing their market reach.
The company maintained operations using funds from their previous investment round, focusing on enhancing user experience and expanding their athlete partnerships. Their commitment to providing a platform for athletes to monetize their gear resonated with both athletes and fans, solidifying their position in the market.
Conclusion
The Player’s Trunk identified a unique opportunity in the evolving landscape of college athletics, offering a solution that benefited both athletes and fans. While their Shark Tank pitch didn’t result in a deal, the exposure and feedback provided valuable insights. By staying true to their vision and adapting based on market needs, they continued to grow and serve their community.
Their journey underscores the importance of resilience and adaptability in entrepreneurship.
Hey, I’m Amna Habib, an undergraduate student pursuing a Bachelor’s in Business Administration. Shark Tank has always been one of my favorite TV shows because it offers a unique glimpse into the world of entrepreneurship. The way entrepreneurs present innovative solutions to everyday problems aligns with my academic interests and fuels my curiosity about business strategies. Each pitch showcases creativity and strategic decision-making, which I find both insightful and inspiring. Watching the show has deepened my passion for business and motivated me to explore the world of entrepreneurship even further. Beyond business and writing, I love food, shopping, and spending time with my friends and family.
