IT Spot

Talent agency Creative Artists Agency and Major League Baseball’s Internet arm have invested $4.5 million in a new online sports site for kids called Weplay.com, according to the New York Times. The two backers were joined by hedge fund Pequot Capital.

Weplay.com, which is expected to launch in mid-April, is a social network for young athletes, their parents and coaches. On the site, kids will be able to network with friends, post videos of their games, and play virtual games to win points for prices. Because the site is backed by CAA, it also has ties to famous athletes like New York Yankees star Derek Jeter and Tony Parker of the NBA’s San Antonio Spurs, so kids will be able to receive messages from sports idols, as well as see pictures and videos of them from their youth.

For coaches, the site will help to connect with players and parents; and parents can use Weplay to coordinate uniforms or pick up game schedules.

What’s different about Weplay is that it involves the backing of major sports figures like Jeter, who is filming special video for the site. According to the Times, he has also invested some of his own money in the venture. But Weplay isn’t the first company in this field. Others trying to take on youth sports include media site YourSports.com and Takkle, a network backed by Sports Illustrated.

The Times points out that the last time a group of famous sports figures joined forces, they failed. In 1999, Benchmark Capital invested $65 million in MVP.com, a project involving John Elway, Michael Jordan and Wayne Gretsy.