It was 2008. The Great Recession had many victims and we were no exception. Our goal of making sports an asset class, hit a big concrete wall when our exchange partner (USFE), had to shut down due to financial reasons.
The future looked bleak, but we stayed the course. We still had a dream. We had a dream that sports and money will mix in beneficial ways. We had the vision that a brand-new ecosystem would form around sports. We had the hope that the development of the sports finance educational infrastructure and surrounding industry was going to put the world on a path to sustainable prosperity. Our mission became clear:
Transforming society through sports
Always the eternal optimists, in 2011 we the filed the papers for the New Sports Economy Institute and got down to work. We have made some good progress since then. We have launched the AllSportsMarket app in the iOS App Store, we've submitted three amicus briefs (one to the Supreme Court), we've published an open letter in the New York Times, we've submitted a comment letter to the SEC, we've modernized our educational curriculum, we've started a newsletter, The SportsFolio Journal and we've launched a blog, the Full Court Press.
The world has changed quite a bit since 2011 as well. The finance world has become even more complex. Crypto became a thing and sports gambling has made some headway. Meanwhile, there are real concerns that the American Dream is slipping away for good and that is not acceptable to us. We continue to believe that sports is our best chance, perhaps the only chance, to transform society.
We know we have our work cut out for us. We have no illusions about how hard it will be, or how long it will take. It doesn’t matter.
We are just getting started.
The NSEI Team, June 2020