Chicago Bears rookie quarterback Caleb Williams is launching an investment firm named 888 Midas.
The firm will target “investments in private equity, venture capital and real estate,” according to a press release.
“I always planned on being both an athlete and a businessman,” Williams said. “As I’ve reached many of my athletic goals and dreams, multiple business opportunities have also surfaced. Athletes are often inundated with and distracted by these opportunities.
“To eliminate the potential for distraction, it was important to me to immediately set up a business operation with established, trusted partners and advisors I’ve known for years.”
One of the names Williams listed as a partner in the venture is Ross Walker, managing partner at Beverly Hills-based Hawkins Way Capital.
Hawkins Way, a real estate private equity fund, first signed an agreement with Williams in 2022, per Ryan Kartje of the Los Angeles Times.
“Our plan is to expose him to how our firm operates and how we do business,” Walker said in 2022 about working with Williams, per Kartje.
Those lessons might have influenced Williams heading into the 2024 draft. The Athletic’s Kalyn Kahler reported in February that Williams’ camp had discussed the topic of purchasing equity on his future NFL team earlier this spring, although the league has not yet allowed players to hold stakes in teams.
Kahler reported that the equity question was driven by Williams’ father, Carl Williams, as well as the fact that “perhaps no college football player has ever entered the NFL having made as much money in college.”
According to Kahler, Williams made around $10 million in NIL money and endorsements during his final two seasons at USC.
Williams is taking another unique approach to his contract negotiation with the Bears, which he is negotiating without the help of an agent certified by the NFLPA, per NBC Sports’ Mike Florio. The move was likely made to avoid agent fees, which are sometimes worth up to three percent of the player’s earnings, per Sportico’s Eric Jackson.
Instead, Williams is working with a “team of lawyers” to complete the deal, is projected as a four-year, $39.5 million contract with a signing bonus of $25.5 million, per NBC Sports’ Josh Schrock and Spotrac.
Brad Biggs reported for the Chicago Tribune that Williams is expected to finalize the deal before Bears training camp begins July 26.