Altius Sports Partners acquired by Underdog & Co.
Altius Sports Partners, the firm working with 39 universities to educate athletes and athletic departments on NIL issues, has been acquired by the marketing agency Underdog & Co.
At three years old, Altius has become a stalwart in some of college sports’ largest athletic departments, including LSU, Notre Dame, Texas and Duke. The value of those relationships and contracts with schools make up most of the consulting firm’s value.
According to Sports Business Journal, Altius has renewed 36 of its 39 agreements, with 31 of them extending on multiyear deals.
The acquisition comes after Underdog partnered with NewSpring Holdings, a Philadelphia-based private equity firm, in June. The investment ensures Altius is prepared to continue to grow its relationships with brands, athletes and institutions.
While Altius has worked with a slew of universities in NIL, the company has become a go-to spot for brands who want to learn about NIL and make a smart play. The firm has shepherded Powerade, Shake Shack and NBC Sports Group into the space.
“Our success to date is a testament to our exceptional staff, advisors, founders, and partners, but we’re just getting started,” Altius CEO and founding partner Casey Schwab said. “This is a pivotal moment in collegiate athletics, and with financial backing from NewSpring and support from Dan Mannix and the underdog team, Altius is prepared to meet the moment and help our partners win on and off the field.”
Altius Sports team staying intact with acquisition
Schwab’s Altius team will remain fully intact, including his leadership team of Brittney Whiteside, Andrew Donovan and Tommy Gray. Oliver Luck will also stay on as chairman. The company has roughly 40 employees and does not have a designated office space.
Schwab will stay on as CEO through at least 2027. Underdog, which works in sports marketing, is making a full acquisition. The hope is the two brands can “enable even more brands to execute impactful national marketing campaigns in partnership with college athletes.”
The firm’s relationships with schools have been invaluable, establishing a general manager program a year into NIL after realizing a need for more on-campus assistance. According to SBJ, $10,000 per month is the going rate for Altius’ full package to institutions, including ASP Academy and the GM program.
Oklahoma launched an athlete services division through its partnership with Altius in August. Playfly Sports has sold its minority share of Altius, according to a release. A strategic partner, Schwab credited the multimedia rights company for assisting Altius in its growth.
“We find ourselves in a dynamic era of transformation within college sports, brimming with potential,” Underdog co-founder Dan Mannix said. “The acquisition of Altius merges our collective experience, creating fresh opportunities for schools, athletes, and brands. We’re thrilled to add Altius to our growing network and look forward to working with Casey and his team to pave the way to add greater value to our brand and athlete partnerships.”