Basketball is an incredible sport that has provided countless benefits to many over the years. However, we cannot ignore the fact that the game is changing rapidly from a business standpoint. As a result, it is important for parents to understand the business side of basketball before getting their children involved. This year, my aim is to keep parents informed on issues regarding grassroots and high school basketball.

The youth sports industry is now a $15.3 billion market, according to WinterGreen Research, a private firm that tracks the industry. Companies like 3STEP are changing the game by privatizing the industry in a way that has never been done before. It is essential that parents research these organizations and ask critical questions before joining. As an urban parent, you must ask yourself what the ultimate end goal is for your child.

The youth sports industry has recently become a hotbed of investment activity, with major companies like NBC and Time Inc. getting involved in a big way. NBC recently acquired Sport Ngin, a scheduling and social app that had already raised an impressive $39 million in venture funding. Meanwhile, Time Inc. launched Sports Illustrated Play after acquiring three youth-sports-software startups, with SI Play’s apps now boasting an impressive 17 million monthly unique users.

These moves are part of a larger trend of investors plowing over $1 billion into the youth sports market in the past few years, highlighting the growing importance of this industry. With such significant investment activity taking place, it’s clear that the youth sports industry is poised for continued growth and innovation in the years ahead.

3STEP, founded by David Geaslen, operates in the youth sports industry and has made A numerous amount of acquisitions. It has more than 70 distinct brands under its umbrella, executes over 3,000 events, involving more than 1,800 club teams spanning 41 states. Sponsors include ESPN, Gatorade, and New Balance. According to Geaslen, they have created an ecosystem that is unlike anything else out there.

3Step is a company with a proven track record of success in the highly competitive youth sports industry, and is on the cusp of entering its 15th year of operation. With a strong focus on providing exceptional experiences and opportunities for young athletes and their families, 3Step has already made a significant impact by operating the highly regarded Under Armour Next program for football, volleyball, and basketball, as well as the 3SSB Adidas-sponsored basketball circuit.

Investors have recently poured over $1 billion into the youth sports market, according to SI Play CEO Jeff Karp. This is why I continuously urge parents to keep themselves informed on the issues surrounding the sports industry. There is no roadmap for navigating through this changing environment of youth athletics, so parents must be their own gatekeepers and focus on what they want for their child.

In conclusion,

It is important for parents to be aware that the odds are not in their child’s favor when it comes to playing sports at a high level. In fact, only 2% of high school athletes go on to play at the Division I level, and an even smaller handful of them will ultimately earn an athletic scholarship or a professional sports contract.

According to the National Collegiate Athletic Association, only 3% of high school seniors who played basketball in 2021 will continue to play in college, and only half of those 3% will receive some sort of athletic scholarship.

While this may seem daunting, it is important for parents to keep in mind that playing sports can still offer valuable experiences and opportunities for personal growth and development, regardless of whether their child goes on to play at a higher level.