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Episode 59

From Lawyer to Angel Investor, Advisor & Dealmaker with Sunjay Mathews

Episode summary

Introduction: 0:00

  • Introducing Sunjay Mathews, angel investor, advisor, and dealmaker in the sports and media sector.
  • Advising companies like tixbase, Just Women’s Sports, and GolferX. 
  • Formerly leading legal at DAZN and Fanduel.
  • Starting his career at Davis & Gilbert and Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates.
  • Turning a lifelong passion for sports into a career in law.

Transitioning from law associate to sports legal advisor at FanDuel: 3:40

  • Targeting the four most competitive hiring fields: sports, tech, movies, and music. 
  • Taking on a small in-house transactions role before joining FanDuel.
  • Relying on your networking abilities and persistence to break into a difficult industry.

Dealing with anachronistic regulations in the sports betting industry: 6:47

  • Joining FanDuel at the moment when the New York attorney general claimed the entire business was illegal.
  • Working out a merger with Draft Kings that got shut down by the FTC.
  • Leaning into the uncomfortableness to gain experience you can use at future jobs.
  • Continuing to work in new industries with uncertain regulations like sports betting, streaming, and crypto.

Moving into streaming at DAZN: 10:39

  • Going from a company where legal has ultimate power to a new company.
  • Working with former ESPN president John Skipper.
  • Considering the future of streaming products and technology.

Getting a start as an independent advisor: 21:47

  • Reaching out to your entire network during the pandemic to see what they are working on.
  • Offering to help for free, or only to accept money if you can solve the problem.
  • Jumping in and getting started without hesitations.

Dealmaking with pro athletes and celebrities: 26:08

  • Gaining strong negotiating skills through training. 
  • Focusing on your clients’ interests and making sure you work collaboratively with the opposing side.
  • Equitably aligning interests between athletes and brands.
  • Understanding the extremely high value that athletes offer to brands and leagues.

Getting started as an angel investor: 34:12

  • Offering as little as $100 makes you an angel investor.
  • Leveraging your understanding of certain markets to bolster investments and working with partners who make up for your weaknesses in other fields.
  • Being open to having a conversation with absolutely anyone.

Consulting on sports marketing with FTX and getting involved with crypto: 38:06

  • Having an advising client connect you with a company looking to start sports partnerships.
  • Seeing similar regulatory issues between crypto and gambling. 
  • Enduring equity loss during the fallout from the collapse of the exchange.
  • Maintaining other relationships and structuring sports partnerships elsewhere.

Investing and advising companies like BetDEX and tixbase: 42:20

  • Investing in gambling and crypto platform betDEX, founded by a finance lead at FanDuel.
  • Advising tixbase, a secure blockchain company for buying tickets on the secondary market to end scalping and fraud.

Uplifting Just Women’s Sports: 49:35

  • Working with Just Women’s Sports through a contact from college looking for contract advice.
  • Predicting enormous opportunity in women’s sports leagues.

What you wish you’d known as a young lawyer: 57:11

  • Not caring what other people think or doing what you imagine they expect from you.
  • Making career choices based on your personal interests and working with people who value you.
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Host
Tyler Finn
Head of Community & Growth, SpotDraft
Guest
Sunjay Mathews
Board Member, Advisor & Angel Investor

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