Other 5 athletes who now succeed as businessmen

These athletes have not only stood out for their skills in the basketball court, now they also do it for owning companies

Other 5 athletes who now succeed as businessmen

It is not the first time that active and / or retired players have ventured into the business world. That is, they become shareholders or team owners as part of a strategy to diversify the investment portfolio and continue generating income during their career or after their retirement.

Leer en español: Otros 5 deportistas que ahora triunfan como empresarios

"Many players seek new jobs in media, such as coaches or sports managers, invest in new projects or diversify into property portfolios as assets, or so simple that they discover new careers, from managing hotels to working in financial services," explained The Telegraph.

Of course, not all live the same reality. Therefore, in LatinAmerican Post we present you some cases of active and retired players who decided to invest in sports teams or companies:

Michael Jordan

Michael Jordan is one of the most important sports legends in the world, creditor of six NBA titles, Olympic medalist and widely known for his challenges defying gravity. ESPN described his time as a manager in several teams, first in the Washington Wizards and later as a shareholder of the Charlotte Bobcats in 2006.

In 2010, Jordan acquires the franchise of this last team with the approval of the Board of Governors of the NBA, according to the Público newspaper of Spain, so this was renamed Charlotte Hornets, as it was known in his time as a player.

Despite its success with the mythical brand "Jumpman", ESPN described its little success with the franchise, since the chosen players and their performance in the play-offs have not been the best. However, this does not lower him from the podium as one of the richest athletes in the world, with a fortune of around USD $ 1.67 billion, according to Mundo Deportivo.

You can also read: Bye-bye Messi and Ronaldo: Luka Modric is here! 

Lebron James

The NBA superstar and Los Angeles Lakers player acquired in 2011 a minority stock package of a Premier League team: Liverpool FC. This share package represents 2% of participation, as reported by sports newspaper As, valued at that time in USD $ 6.5 million and that after seven years has generated dividends of around USD $ 32 million.

According to Reuters, this strategic move was made at that time in order to create alliances between companies in order to expand and represent the player's personal signature throughout the world. These companies are:

  • Fenway Sports Group, which owns the English team
  • The Boston Red Sox of the MLB
  • James's brand, LRMR Branding & Marketing

It may interest you: Amazing! From soccer players to team owners 

Other retired basketball players who own businesses

1. Jamal Mashburn

Mashburn retired from basketball when he was barely 32 years old. However, from the board and shorts he migrated to restaurant franchises and suits. By 2014, their businesses were multiple, 37 in total. These include Papa John's Pizza, 18 Outhouse Steakback and 3 Dunkin Donuts.

2. Shaquille O'Neal

One of the most dominant pivots in the history of the NBA, remembered for its body volume and charisma, currently has 19 franchises of Auntie Anne's Pretzels. He is also the owner of another 40 franchises of 24-Hour Fitness Clubs and 155 restaurants of Five Guys burgers. His investment also extends to Vitaminwater and Muscle Milk.

3. Magic Johnson

For many, the best pilot and escort of basketball remained linked to the sport after his retirement, but with the exception that he made a change of discipline and became co-owner of a team in Major League Baseball (MLB). In 2012, he became the major shareholder of the Major League Dodgers to pay $ 2 billion, along with an association of investors.

LatinAmerican Post | Gabriel Moros

Translated from "Otros 5 deportistas que ahora triunfan como empresarios"

We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…