Eli Manning is not only an investor in XTECH but he wore their shoulder pads during his playing days.
Evan Pinkus/XTECH
Two-time Super Bowl MVP Eli Manning may have hung up his shoulder pads, but he’s still taking interest in the gear.
The former New York Giants quarterback on Thursday announced he has invested in sports protective equipment maker XTech.
Manning, who wore XTech shoulder pads during his playing days, said he took a stake in the company because he believes in the product and wants to make sure that youth athletes have the same high-level safety equipment that NFL players have.
“They’ve [XTech] gone on to really dominate the NFL and the college market from the shoulder pad standpoint, and I want to help continue that journey as they explore into high school and expanding this business,” Manning told CNBC in an interview.
Manning did not announce the size of his stake, but he’s one of the top five investors in the company, XTech told CNBC.
Manning said he doesn’t just want to be a silent partner. He plans to help XTech as a spokesperson, by making introductions and by helping with big-picture corporate strategy.
Since his retirement in 2020, Manning has turned to investing in sports through his private equity firm Brand Velocity Group and through private investments. He is also a minority owner in the National Women’s Soccer League’s Gotham FC and TGL’s New York Golf Club.
XTech team from left to right: Jack Mara, Bob Broderick, Eli Manning, Joe Iovino.
XTECH | William Hauser
New York Giants beginnings
XTech dominates the college and professional football market. Founder Bob Broderick said that nearly 90% of NFL players have opted to wear the company’s custom-fitted shoulder pads that retail for about $599 each.
XTech, founded in 2012, has New York Giants roots.
Broderick got his start in the space as a Giants equipment assistant. It was there he learned the ins and outs of the gear business. Later, as he worked his way up to the Giants communications department, he watched as the focus on equipment moved toward helmets as awareness about the effects of concussions spread.
“All of the major manufacturers and players out there were focused on helmets — from the neck down, was kind of forgotten about,” Broderick said.
He was later introduced to equipment designer Ted Monica, who he calls “the Steve Jobs of shoulder pads.” Together, they sought to build a business.
Monica, whose background included another top equipment maker Riddell, designed a shoulder pad unit that XTech says is safer, lighter and allows more mobility. He also tried to design a sleeker and more attractive look than traditional shoulder pads.
With early backing from Super Bowl champion head coach Brian Billick, formerly of the Baltimore Ravens, the XTech team traveled locker rooms around the NFL and began fitting more and more players. That included Manning and current players Josh Allen of the Buffalo Bills, Josh Jacobs of the Green Bay Packers and Fred Warner of the San Francisco 49ers.
Today, XTech is in all 32 NFL locker rooms.
“I felt with with these pads, I was getting the protection I needed, but also found with XTech, I had more mobility in my arm, where it didn’t feel any different throwing with pads to without pads,” Manning said.
Expanding into high school sports
While the NFL has strict rules on what kind of helmets NFL players can wear, shoulder pads are left to the players and teams to choose. The teams pick up the cost of the shoulder pad unit for their players. XTech has a team of 5 salespeople who travel around the country personally fitting 40,000 athletes.
XTech says its shoulder pads are 100% American made, with manufacturing taking place in East Hanover, New Jersey. The company said this allows for quicker manufacturing and shorter turnaround times with online orders going out in one day. Competitors Douglas and Riddell can take from 4-8 weeks to process and ship.
Broderick said the company has sold about 100,000 shoulder pads units since its founding. XTech products are only available on the company’s website and Amazon. They are not found in big-box retailers.
XTech is now looking to break further into the youth sports market with a new youth-specific product it has in production, expected to launch next year. The youth line will be for players weighing 30-150 pounds and is expected to be priced in the low $200 range.
“90% of the overall market out there is high school and youth,” said Broderick.
He said XTech currently works with about 500 high schools, but there are more than 15,000 high schools that play football, representing a major market opportunity.
Manning said when he was in high school, he showed up for practice on the first day and was given a pair of used shoulder pads and a helmet and didn’t question it.
“Now, parents are more involved. They want to get their kids in the best stuff and the pads that are going to keep them safe and protect them and help them perform at a higher level,” he said.
