Coco Gets It.

Hey, it’s Arlesha!

In this issue, I’m unpacking a business model that isn’t new in the sports and entertainment world, but continues to evolve as athletes redefine the structure through their own paths and partnerships. It’s the Enterprise-Agency model—one that blends personal brand ownership with the power of agency infrastructure. And right now, it’s being reimagined by a young tennis superstar who’s taking full control of her narrative: Coco Gauff

Let’s get into this one.

Gauff’s strategic move to establish her own enterprise at the age of 21 underscores the importance of athletes taking control of their personal brand and business ventures early in their careers. The 21-year old US Open Champion created her own management company Gauff Enterprises, with the support of her trusted advisors and representation team at WME who boasts a strong tennis roster and expertise in the sport. 

Coco’s model with WME is the Enterprise-Agency model. Alternatively, another model is the Privately-Owned + Operated Model—I’ll call it POOM for short. POOM was the particular model I was immersed in when working for Stephen Curry at SC30, Inc (Now Thirty Ink).

From working within an agency-aligned model to an independently athlete-run enterprise—I’ve been immersed in both business model setups.  Here’s an inside look…

AN INSIDER LOOK ON THE ENTERPRISE-AGENCY MODEL

One of my early starts in the business goes back to 2012, when I had a role on Dwyane Wade’s management team under Wade Enterprises (se ). My time with Wade Enterprises was my first inside look into what goes into operationalizing an athlete enterprise and my first foray in the Enterprise-Agency model as I supported D.Wade’s off-court business on both sides of his value chain. Much like WME’s support of Coco Gauf, at Wade Enterprises, we were supported by CAASports. As D.Wade’s brand continued to skyrocket while winning an additional two championships alongside Lebron James and Chris Bosh during the Miami HEAT’s winningest years, his enterprise— supported by CAA—allowed him and the management team to build his personal, bespoke brand initiatives while leveraging CAA’s reach and relationships across the sports and entertainment ecosystem, inclusive of receiving CAA’s guidance on his interests in the fashion business and embraced the agency’s lead in embarking on one of the biggest moves in the sneaker space at that time in signing with Chinese sneaker and apparel company, Li-Ning to create his signature line of footwear and apparel, Way of Wade.

This begs the question—is the Enterprise-Agency Model the winning management model for athletes? 

Well, it depends on how you look at it.

Let’s break down these two management models….

LET’S BREAK DOWN THE MODELS:

1. Enterprise-Agency

Model(e.g., Coco Gauff with WME)

Overview: In this model, the Athlete builds an enterprise platform while maintaining strategic alignment with a talent agency. The agency is a core partner, integrating business management, brand building, and deal execution. This model is ideal for early- to mid-career athletes seeking visibility, growth, and brand partnerships while focusing on performance.

Key Traits:

• Leverages agency infrastructure: Existing talent managers, legal, PR, and commercial teams provide day-to-day support.

• Deal flow powered by agency access: In-house relationships with buyers, brands, networks, etc., allow for scale and speed.

• Flexibility with low overhead: No need to hire full internal staff; operations run lean guided by the agency’s resources.

• Strategic independence with managed execution: Athlete can direct vision but outsources execution to agency partners.

Advantages:

• Built-in access to opportunity and infrastructure

• Scalable without high internal costs

• Easier brand alignment and faster go-to-market time

2. Privately Owned & Operated Model

Overview:In this model, the Athlete/Talent builds a fully independent company, staffed with full-time employees (HR, ops, brand, strategy), controlling both the brand and business operations internally. This model is a right choice and often preferred for legacy athletes or those who will likely have sustained market influence.

Key Traits:

• Wholly owned entity: Athlete acts as CEO/founder, making decisions across all verticals.

• Full internal team: HR, marketing, finance, partnerships, and creative managed in-house.

• External support used selectively: Legal counsel, production, or specialized consultants tapped as needed.

• Long-term enterprise building: Focus on infrastructure, innovation, and brand equity beyond sport.

Advantages

• Maximum control and equity

• Tailored brand voice and innovation freedom

• Potential for institutional legacy (e.g., investments, IP, products)

THE COCO MODEL

In her Instagram announcement post, Coco mentions that this venture reflects her “passion for making an impact—not just in tennis but in business, philanthropy and beyond.” As Coco builds towards future-proofing her business legacy, she understands that growth happens in collaboration much like D.Wade did. The Enterprise-Agency model allows Coco infrastructure support, career sustainability and opportunity leveraging and with those benefits, she can focus on balancing a thriving tennis career while leveraging successful brand partnerships to be brokered by WME. That’s one of the greatest benefits of the Enterprise-Agency model. Her brand partnership & collab portfolio has already consisted of:

• New Balance:  

• Carol’s Daughter:  

• Ray-Ban x Meta

• Bose

• UPS

• American Eagle

• Baker Tilly

• Microsoft

• Barilla

• Head 

• Naked Juice

And this doesn’t include the private activities + investments Coco Gauf Enterprises manages such as Coco’s investment in women’s basketball league Unrivaled.

If Coco continues to move like this, she’ll continually not know what debt is (if you understood that reference, i’m proud of you, you’re a real Coco fan.) 

THE WINNING MODEL

Don’t we all love crowning a winner, but it’s not so black & white. 

Both models serve different needs depending on an athlete’s goals, bandwidth, and vision. It’s also key to note that both models come with some considerations–such as the high overhead and team management complexities a Talent/Athlete would take on going the POOM route, for instance. But let’s stick to Coco’s approach here: Coco’s WME-aligned structure shows how a rising athlete can formalize business activity while still maximizing her on-court focus, while the POOM model reflected a seasoned pro ready to shape legacy beyond the court with infrastructure and ownership.

Either direction, it’s never too late–or too early–to formalize an enterprise and take ownership of one’s brand.

If you liked this issue, you may enjoy the thematic Champion Takes newsletter series “Platforms and Personas”. This series covers Talent who build and design Platforms—creating sustainable value for themselves and the brands and properties who partner with them. 

Catch up with the series here.