Boston Celtics managing partner Wyc Grousbeck, left, stands with venture capitalist Bob Higgins, center, and team co-owner Mark Wan.
When Rob Dyrdek discovered he had “maxed out on. . . resources” for his Street League Skateboarding franchise, he did what businessmen have been doing for years: he looked for some new money. He found it in the form of $4 to $5 million dollars from Causeway Media Partners. They’ve owned the Boston Celtics since 2002 and they’re looking to expand into other sports, according to a story in the Telegram.
”Skateboarding’s not a very expensive sport to pick up. It doesn’t require you be a part of a team,” said Causeway co-founder Mark Wan, who is also a part-owner in the Celtics and the San Francisco 49ers. ”That’s one of the goals of street league is to make this really accessible.”
See, if Dyrdek can get enough people flowing money into his project now then he’ll be able to make a big exit later while things are still on the up. That’s how business works. For the rest of the story, click the link.
[Link: Telegram]
