Ex-NFL Star Ricky Williams Says New Football League Will Update Old-School Ownership Structure
*By Michael Teich*
A group of former NFL stars are launching an alternative professional football league for the offseason that will give players and fans a financial stake in their team's success.
“We looked for markets where there was not a professional team, but a big enough market to support a team,” Ricky Williams, former two-time All American and one of the founders, told Cheddar in an interview on Tuesday.
The planned Freedom Football League will initially have 10 teams ー San Diego, Oakland, Birmingham, St. Louis, Texas, Oklahoma City, Portland, Ohio, Floria, and Connecticut were named as the first crop of cities to welcome teams from the FFL.
It marks a major divergence from the XFL, another professional league aiming to give fans a dose of football during the NFL offseason. The XFL, backed by WWE Chairman and CEO Vince McMahon, announced last week the eight cities it will bring teams to in its inaugural season in 2020. The XFL will reportedly be targeting major TV markets including New York City, Los Angeles, and Dallas.
Williams said part of what makes the Freedom Football League unique is its ownership structure ー the purchase of season tickets will allow fans to own part of the team.
“It’ll be like owning a stock. If you’re team is doing well and making money, you’ll be getting a check in the mail.”
Players, too, will own part of the team, Williams added.
Williams also referenced the Freedom Football League’s approach to player health and safety as a differentiator from the NFL. Concussions and CTE have been a difficult issue for the NFL to manage. Almost 300 concussions were reported during the 2017 season, the highest total in any season since the league began sharing data in 2012.
“They’re making an attempt,” he said. But “the structure of the ownership is really old-school.”
His main role in the league will be director of health and wellness, a position that will allow him to make players’ safety on and off the field a priority.
For full interview [click here](https://cheddar.com/videos/football-league-launched-by-nfl-stars-gives-fans-chance-to-own-stock-in-teams).
Wealthfront’s CFO Alan Iberman talks the $2.05B IPO and the major moment for robo banking as the company bets on AI, automation, and “self-driving money."
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.