Caleb Williams has been fined by the NFL for wearing them, and Joe Flacco has offered to pay the bill. The company says nearly 100 current and former players have worn them. In under two years, Caddix has gone from an unknown Baltimore startup to one of the most talked-about cleat brands in football.
So who actually owns it? No sneaker giant does. Caddix is a small, privately held company built by a father and son and backed by former NFL stars. Here is the full story as of October 31, 2026.
Who Owns Caddix Cleats Right Now in 2026?
Caddix is a privately held, venture-backed startup based in Baltimore, Maryland. It is led by founder and CEO Jack Rasmussen. No parent company, public shareholders, or stock listing has been reported.
The company has not shared its cap table, so exact ownership percentages are not public. PitchBook lists Caddix as privately held and venture capital-backed, with a seed round completed on August 29, 2024.
Ownership and Key Stakeholders Table
| Owner / Investor | Role | Stake | Key Detail |
|---|---|---|---|
| Jack Rasmussen | Founder & CEO | Not disclosed | Wrote his first patent at 19; leads the company from Baltimore |
| Jeff Rasmussen | Co-founder | Not disclosed | Jack’s father; helped start the research after an NFL ACL injury |
| Todd Heap | Seed investor, advisor & board member | Not disclosed | Three-time Pro Bowl tight end; brought in Flacco and Pitta |
| Dennis Pitta | Seed investor & advisory board | Not disclosed | Former Ravens tight end and Super Bowl champion |
| Joe Flacco | Seed investor & athlete advisor | Not disclosed | Super Bowl-winning quarterback; first athlete partner in 2024 |
| Kayla Sharples | Investor & advisory board | Not disclosed | Kansas City Current defender who recovered from an ACL injury |
| Ja’Kobi Lane | Angel investor | Not disclosed | Ravens rookie receiver; investment announced August 26, 2026 |
| Tom Brady | Not listed as an investor | None confirmed | Has worn the cleats; some headlines call Caddix “Brady-backed” |
| Public shareholders | None | 0% | Caddix is not publicly traded |
Who Founded Caddix?
Jack Rasmussen and his father Jeff Rasmussen founded Caddix after watching an NFL player suffer a non-contact ACL tear. They studied the research and decided the real problem was how cleats grip the playing surface, according to the company’s own story.
Jack was a college football player who dropped out of school. At 19, while working as a housekeeper at Zion National Park, he wrote his first patent, as USA Lacrosse Magazine tells it. He says the company now holds 18 patents.
The founding year depends on the source. The idea dates to about 2015, while Baltimore Fishbowl says the company was co-founded in January 2020. Other listings use 2023, and the first cleats reached stores in December 2024.
How SmartStuds Technology Works
Caddix cleats use patented SmartStuds. Each stud has a post and a rubber washer that lets it flex and release when a player plants and cuts. The company says this lowers the twisting force that travels into the knees and ankles.
These are the company’s own claims about its design. They are not a guarantee against injury.
The Investors Behind Caddix
The seed round was backed by three former Baltimore Ravens stars: Todd Heap, Dennis Pitta, and Joe Flacco. Heap found the company and brought the other two along.
Kayla Sharples joined to represent women’s sports. Heap and Pitta also sit on the advisory board with her.
In August 2026, rookie receiver Ja’Kobi Lane became the newest investor. He turned down paid ambassador offers from big shoe brands and put part of his rookie salary into Caddix instead. PitchBook estimates about $4.3 million raised so far, though that figure may be incomplete.
Is Tom Brady an Owner of Caddix?
Not according to the company. Some headlines, including Yahoo Sports, call Caddix “Tom Brady-backed.” Caddix’s own investor list names Heap, Pitta, Flacco, Sharples, and Lane, and none of the reports found shows Brady holding equity.
What the reports do show is that Brady wore the cleats at the Fanatics Flag Football Tournament. He is also a minority owner of the Las Vegas Raiders, which is a separate matter.
Why the NFL Fined Caleb Williams
Chicago Bears quarterback Caleb Williams was fined $11,941 for wearing Caddix cleats with the logo showing in the Week 6 win at the Atlanta Falcons. The league’s rule is simple. If a player wears shoes from a brand other than Nike, Adidas, or Under Armour, the logo must be covered, ESPN reports.
Williams wore Nike in his first two seasons and has no contract with Caddix. He has appealed and says he will keep wearing the cleats. Caddix has an NFL hearing set for November 10 and plans to pay the fine if the appeal fails. The company says its cleats are approved for NFL play, so the fine is about the logo, not the shoe.
How Fast Is Caddix Growing?
Very fast. Caddix entered lacrosse in February 2025 and signed a multi-year deal with USA Lacrosse in April 2026 to outfit national team athletes. It is also sold at Dick’s Sporting Goods and Scheels stores.
In the league, Complex keeps a full list of players wearing them across NFL teams. The company says nearly 100 current and former NFL players have worn Caddix.
Is Caddix Owned by Nike or Adidas?
No. Caddix is an independent startup, and neither Nike, Adidas, nor any other sportswear company has been reported as an owner or investor. Rasmussen told Lane early on that Caddix would not pay athletes to wear its cleats. That is one reason the brand leans on athlete investors instead of endorsement deals.
What Could Change Caddix’s Ownership?
The biggest change would be a Series A round. Footwear News reported a target of $12 million to $15 million, and the final close has not been publicly confirmed.
A round that size usually brings in new institutional investors and shrinks early stakes. No sale, acquisition, or public listing has been reported.
Frequently Asked Questions (FAQs)
Q1. Who owns Caddix cleats?
Caddix is a privately held Baltimore startup led by founder and CEO Jack Rasmussen and backed by athlete investors.
Q2. Who founded Caddix?
Jack Rasmussen and his father, Jeff Rasmussen, founded Caddix.
Q3. Is Tom Brady an owner of Caddix?
No investment by Brady is listed by the company, though he has worn the cleats.
Q4. Who are the investors in Caddix?
Todd Heap, Dennis Pitta, Joe Flacco, Kayla Sharples, and Ravens rookie Ja’Kobi Lane.
Q5. Is Caddix publicly traded?
No, Caddix is a private company with no stock listing.
Q6. Where is Caddix based?
Caddix is headquartered in Baltimore, Maryland.
Q7. Why was Caleb Williams fined for wearing Caddix cleats?
He was fined $11,941 for wearing the cleats without covering the unapproved logo in Week 6.
Q8. What are SmartStuds?
They are patented studs that, according to the company, flex and release to reduce twisting force on the knees and ankles.
Caddix is owned by its founders and early investors, not by any big shoe brand. Founder and CEO Jack Rasmussen leads it from Baltimore, backed by Todd Heap, Dennis Pitta, Joe Flacco, Kayla Sharples, and Ja’Kobi Lane.
Exact percentages are private, and Tom Brady is not a listed investor. With a Series A in the works and the NFL fine in the headlines, the ownership picture could change soon.
Official Website: caddix.com