Former Penn State Football Standout Bryan Scott Secures Deal On ‘Shark Tank’
Former Penn State standout and NFL defensive back Bryan Scott did the unthinkable; he navigated the “Shark Tank.” On last week’s episode, Scott appeared on CNBC’s hit show and successfully pitched his idea to the investors.
Scott appeared on behalf of the four owners of Noene, a company that distributes a thin insole designed to absorb and disperse shock. The insole is thinner than a dime and is designed to work within a variety of different footwear, anything from athletic cleats to women’s heels. The vulcanized rubber that makes up the insole has other potential applications, a feature that attracted the two investors whom Scott was able to cut a deal with.
Those two investors were software titan Mark Cuban and fashion mogul Daymond John. Scott originally sought $100,000 for a 10 percent equity stake in the company (which places his partners’ valuation of Noene at $1,000,000) but ultimately had to cut the investors a better deal. After Cuban and John countered with $200,000 for a 40 percent, Scott ultimately settled with $200,000 for 30 percent of his company.
Scott played defensive back at Penn State before graduating in 2003 with a degree in Parks and Recreation Management. He spent his professional football career with the Falcons, Saints, Titans, and Bills before retiring in 2013. He accumulated 591 tackles and 11 interceptions during his time in the NFL.
While many NFL veterans struggle through well-documented problems with money, Scott has clearly been proactive in his time away from the league. Most NFL players don’t have enough in the bank to live off of through retirement, but even an NFL journeyman begins with a solid foundation of funds that can be grown exponentially with the right business acumen. Scott’s experiences post-NFL and in the ‘Shark Tank’ serve as great examples to the next generation of Penn State players who will one day have to hang up their cleats and find other ways to make money.
Image: Noene USA