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Four young entrepreneurs entered Shark Tank during the season 13 finale, seeking investment for their college athlete memorabilia marketplace. Charles Matthews, Hunter Pomerantz, Austin Pomerantz, and Jason Lansing pitched The Players Trunk, asking for $650,000 in exchange for 5% equity at a $13 million valuation.
With 800 athletes already on the platform and university licensing agreements in place, the founders faced skepticism about their valuation. Mark Cuban and Kevin Hart joined forces with a counter-offer, demanding 30% equity.
Before giving the offer, Kevin expressed that the founders “might not like it”. Once Kevin stated the offer terms, Mark gave the reasoning.
"You're asking us to give money but you need us to go work for you, need our legs, and so while Venture Capital money is great, Mark Cuban money and Kevin Hart money, and name is a whole lot greater. It's a different ball game. 70% of a watermelon is a whole lot better than 95% of a grape," Mark stated.
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The Shark Tank company founders ultimately walked away without a deal.
The Players Trunk turns down Mark Cuban and Kevin Hart deal on Shark Tank
The Players Trunk’s Charles Matthews established himself as a basketball standout at the University of Michigan, where he won a national championship in 2018. Hunter Pomerantz managed the Syracuse basketball team, bringing experience from another major college program.
Austin Pomerantz, Hunter's brother, studied sports management at Michigan. Jason Lansing also attended Michigan and managed their men's basketball team. A fifth partner, Zavier Simpson, did not appear during the Shark Tank pitch.
The group identified a common problem among college athletes – accumulating piles of uniforms, hats, shirts, sneakers, and other gear by the end of their athletic careers. The business concept emerged when Charles and Zavier asked Jason and Austin to help sell their old gear on Instagram, revealing the need for a more professional, centralized selling platform.
Their company had generated $1.3 million in first-year sales by creating a platform where college athletes could sell game-worn gear following the NCAA's rule change allowing name, image, and likeness monetization.
Kevin O'Leary immediately questioned the $13 million valuation. He compared the company to public businesses and suggested they would be worth closer to $4 million based on their sales and profit figures.
When the entrepreneurs revealed they had previously raised $1.2 million from a "respected venture capital firm in Chicago" at a $10 million valuation, O'Leary quickly went out.
Despite their interest in the concept, both Barbara Corcoran and Lori Greiner declined to make offers, citing their lack of familiarity with the sports memorabilia market. Kevin Hart expressed interest but stated that 5% equity was insufficient for his involvement.
This opened the door for Mark Cuban, owner of the Dallas Mavericks, to propose a partnership with Hart.
Together, they offered exactly what the entrepreneurs asked for financially - $650,000 - but demanded 30% equity instead of 5%. Cuban delivered a pitch about the value of their partnership beyond money.
Despite Cuban's forceful argument about the promotional value and connections the two celebrities could bring, the founders remained committed to their valuation.
They countered with $750,000 for 7.5% equity. Cuban and Hart refused to budge from their 30% equity demand, leading to an impasse.
Post Shark Tank journey
After appearing on Shark Tank, The Players Trunk expanded its product offerings. The company introduced limited edition playing cards featuring college athletes. They also created a dedicated auction site specifically for signed player gear, allowing fans to bid on premium memorabilia.
The business broadened its sports coverage beyond its initial basketball focus. Their marketplace grew to include merchandise from athletes in soccer, track and field, baseball, lacrosse, and women's volleyball.
This diversification helped them reach fans across multiple collegiate sports.
The company continued operations with funding from their previous $1.2 million investment round rather than the Shark Tank deal. They maintained their business model of taking a percentage from each sale while handling the logistics for athletes.
New episodes of Shark Tank are airing on the ABC network.
