NBA players’ exemplary financial maturity is a model for other athletes

Grant Hill

Grant Hill retired after a 19-year NBA career in 2013. Hill partnered with billionaire investors Tony Ressler and Bruce Karsh to develop an ownership group to place a bid for the Los Angeles Clippers. Hill currently works for NBA TV/TNT.

By Charles Glover

NBA players are recognized for their talent on the basketball court but there is also a growing number of current and former NBA players who learned entrepreneurial lessons from their predecessors. This new breed of player-entrepreneurs know how to put what they learned in business to grow their personal brands and enhance their financial legacies.

Webber was the #1 overall draft pick in 1993. He retired after the 2008 season. Webber owns a restaurant, and an investment company. He currently works for NBA TV/TNT.

Webber was the #1 overall draft pick in 1993. He retired after the 2008 season. Webber owns a restaurant, and an investment company. He currently works for NBA TV/TNT.

Recent NBA retirees like Grant Hill and Chris Webber have learned their lessons and have an eye towards NBA ownership. Hill put together a group of investors that attempted to purchase the Los Angeles Clippers, while Webber put together a group that is hopeful of purchasing the Atlanta Hawks.

But despite the examples set by the player-entrepreneurs, there have been many accounts of professional athletes, and in particular some NBA players, who have blown their fortunes shortly after retiring from the game of basketball.

Rumeal Robinson

Rumeal Robinson last played in the NBA in 1997 after being the 10th overall draft pick in the 1990 NBA Draft. Robinson’s legal troubles include charges for bank fraud, bribery, wire fraud, conspiracy to commit bank fraud, and perjury.

There’s the tragic story of former NBA guard Rumeal Robinson who swindled his foster mother out of her home in Cambridge, Massachusetts. In 2003, Robinson tricked his foster mother into signing over the deed to her own home. He then transferred the property to people unknown to her. These thieves eventually forced the foster mother from her home of over 30 years.

Jason Caffey

Jason Caffey was taken 20th overall by the Chicago Bulls in 1995. He finished his NBA career in 2003. Caffey faced a brief jail stint for failure to pay child support.

There’s also the unfortunate story of former Chicago Bulls players Jason Caffey. Caffey eventually had to file for bankruptcy after having trouble paying child support for 10 children with 8 different mothers. Former NBA power forward Derrick Coleman also had to file for bankruptcy after having a series of investments go sour. Coleman’s former New Jersey Nets teammate Kenny Anderson has also faced serious financial hardship for many years following his NBA career.

Latrell Sprewell

Latrell Sprewell was the 24th overall draft pick of the Golden State Warriors in 1992. Sprewell was a four- time All-Star, making the team with the Warriors and New York Knicks. Sprewell endured many financial woes including a $200 million lawsuit against him from an ex-girlfriend and auctioning off his yacht to make his defaulted mortgage payments.

Latrell Sprewell, after turning down a three-year, $21 million extension from the Minnesota Timberwolves was quoted as saying “I’ve got my family to feed.” A few years later Sprewell’s home was in foreclosure and he had to sell his yacht as he experienced financial difficulties shortly after retiring.

Ray Williams

Ray Williams was the 10th overall draft pick of the New York Knicks in 1977. Williams finished his NBA career playing for the New Jersey Nets in 1987. Williams would experience extreme hardship in post-NBA career resulting in homelessness. Williams was a victim of a real estate scam and filed for bankruptcy in 1994. Williams died on March 22, 2013 of colon cancer in New York City at the age of 58.

Antoine Walker, formerly of the Boston Celtics and Miami Heat, has also had to file for bankruptcy after earning over $100 million during his playing career. There was also the sobering tale of 10-year NBA veteran Ray Williams. Williams, who played for the New York Knicks and Boston Celtics in the late 70’s and early 80’s. He ended up homeless, living out of his car in Florida, before dying at a relatively young age.

Russell Westbrook (i) and Kevin Durant (r).

In the summer of 2014, Russell Westbrook (l) had his Westbrook XO line debut at Barney’s New York and launched his own line of sunglasses. Kevin Durant (r) opened a restaurant in Oklahoma City in 2012, appeared in the 2012 children’s film “Thunderstruck,” and had a documentary about his life air on HBO in the summer of 2014.

Many of today’s NBA players have learned from both the cautionary tales and the impressive one. They new breed of player-entrepreneurs are making strides in taking care of their finances for their families’ future. The Oklahoma City Thunder have two dynamic All-Stars in Kevin Durant and Russell Westbrook. Durrant has used his popularity to garner major endorsement deals and appearances in film and television. Meanwhile, Russell Westbrook has taken his notoriety for style and turned it into an opportunity to earn through fashion. Westbrook not only has his own clothing line, as an extension through with his endorsement deal with the Jordan Brand, he also has his own brand of sunglasses.

Amar'e Stoudemire with the stars of Beyond the Lights.

(l – r) Writer/Director, Gina Prince-Bythewood, NBA Player/Producer, Amar’e Stoudemire, Co-stars of “Beyond the Lights,” Gugu Mbatha-Raw, and Nate Parker.

Amar’e Stoudemire has taken some of his NBA earnings and translated it into a film production career that featured production credits on the recently released film “Beyond the Lights.” Stoudemire also has a clothing line and writes children’s books. Stoudemire’s New York Knicks teammate Carmelo Anthony has taken some of his NBA earnings to begin to prepare for his post-NBA career through the funding of tech companies that he hopes can eventually grow to be successful as over the next several years.

Chris Paul (l) and Blake Griffin (m) on the set with Jimmy Kimmel (r).

Chris Paul (l) and Blake Griffin (m) on the set with Jimmy Kimmel (r).

Blake Griffin and his Los Angeles Clippers teammate Chris Paul have taken their popularity and translated it into off the court opportunities as well, with Paul contributing handsomely to President Obama’s social initiative “My Brother’s Keeper,” which is designed to offer opportunities to Black and Latino boys.

LeBron James.

LeBron James is not only a minority owner of the Liverpool soccer club but has also expressed interest in teaming up with soccer star David Beckham to own a Major League Soccer (MLS) team in Miami.

Perhaps no NBA player has done more to build his own personal brand then Lebron James. James has not only had large endorsement deals but he also has co-ownership  of the Liverpool soccer club in England. James is already on record as stating that he wants to become a billionaire and he appears to be on his way.  Kobe Bryant is also creating waves with his own production studio, to make films.

Magic Johnson.

Magic Johnson’s sports ownership includes being a part of the majority ownership group of the Los Angeles Dodgers and Los Angeles Sparks. Johnson is also working to develop an expansion team in the MLS in the near future.

These current players seem to have taken the lead from two of the best 12 who ever graced a basketball court in Magic Johnson and Michael Jordan. Both Johnson and Jordan are owners of major sports teams. Johnson is the majority owner of the  group which purchased the  Los Angeles Dodgers and Los Angeles Sparks while Jordan is the majority owner of the Charlotte Hornets.

Michael Jordan.

With the recent increase of his ownership stake in the Charlotte Hornets to 89%, Michael Jordan has had his personal value evaluated at over $1 billion.

Jordan and Johnson are phenomenal businessmen who provide a template for their contemporaries and future NBA stars, while sending the message that it is important to value themselves as professional commodities beyond the game of basketball. The example set by Jordan, Johnson, Hill, Weber and the current player-entrepreneurs is a strong reminder that it is important to prepare for life after basketball. Their examples offer a good mirror for other athletes to use and plot their future before their sports careers end..-Onpointpress.net–

Charles Glover, Jr. is a management/employee training and benefits consultant. Follow me @OpenWindowMES on Twitter.com. For business inquiries contact (646) 309–1938.

Specific things to look for when the 2014 MLB playoffs begin 9/30/14

Many are predicting an all Los Angeles World  Series based off of the stellar play by two of the best players in MLB, Mike Trout of the Angels (l) and Clayton Kershaw of the Dodgers (r).

Many are predicting an all Los Angeles World Series based off the stellar play by two of the best players in MLB, Mike Trout of the Angels (l) and Clayton Kershaw of the Dodgers (r).

By Charles Glover, Jr.

Major League Baseball (MLB) teams will start their World Series push with the Wildcard round beginning for the American League (AL) on September 30 and the National League (NL) starting on October 1. Some of the sports’ biggest stars will be center stage while some teams will be making their first appearance in the playoffs for quite some time.

The Oakland A's will have their top trade acquisition Jon Lester on the mound to take on the Royals top trade acquisition from a season ago in James Shields as the AL WIldcard begins Sept. 30.

The Oakland A’s will have their top trade acquisition Jon Lester on the mound to take on the Royals top trade acquisition from a season ago in James Shields as the AL WIldcard begins Sept. 30.

The AL Wildcard game is between the Oakland A’s and Kansas City Royals. The winner of that game will face the Los Angeles Angels of Anahiem in the Divisional Series. The other Divisional Series will feature the Detroit Tigers versus the Baltimore Orioles.

Former NL MVP's Buster Posey (l) and Andrew McCutchen (r) are in positions to build on their personal resume with good performances by their  teams this postseason.

Former NL MVP’s Buster Posey (l) and Andrew McCutchen (r) are in positions to build on their personal resume with good performances by their teams this postseason.

The NL Wildcard game is between the San Fransisco Giants and Pitsburgh Pirates. The winner will face the Washington Nationals in the Divisional Series. The other Divisional Series will feature the St. Louis Cardinals versus the Los Angeles Dodgers.

The Detroit Tigers hope that former Cy Young Award winner Justin Verlander (r) and former MVP Miguel Cabrera can lead the team on another deep playoff run.

The Detroit Tigers hope that former Cy Young Award winner Justin Verlander (r) and former MVP Miguel Cabrera can lead the team on another deep playoff run.

There are three questions that are already present as the playoffs begin:

1) Will AL pitching carry their teams through the playoffs?

The conventional wisdom when it comes to AL teams is their offense tends to carry them as the Designated Hitter (DH) allows teams to have more offense regularly. While this is mostly true, recent examples from the Texas Rangers, Tampa Bay Rays, and Detroit Tigers have shows that pitching has been more valuable and consistent for AL teams lately. Starting pitching usually gets the headlines but pitchers out of the bullpen are more important in the post-season when scoring is at a premium. With only 13 Blown Saves and an %81 Save percentage, the Kansas City Royals can make this first playoff appearance in 29 years a memorable one.

The St. Louis Cardinals and Adam Wainwright (r) will have their hands full trying to slow down Adrian Gonzalez (l) and his Dodgers teammates this post-season.

The St. Louis Cardinals and Adam Wainwright (r) will have their hands full trying to slow down Adrian Gonzalez (l) and his Dodgers teammates this post-season.

2) Will power bats be present for NL teams in these playoffs?

There was a period recently when teams like the Philadelphia Phillies, Colorado Rockies, or the Cincinnati Reds would be built with plenty of offense and power in the middle of the lineup. That period has changed drastically as none of the 4 NL playoff teams had a player on their team that hit for more than 30 Home Runs (HR). Adrian Gonzalez of the Dodgers is the only NL player with more than 100 Runs Batted In (RBI), leading the NL with 116 RBI. Since runs will be at a premium, those quick scores will make a huge impact on the outcomes of series. With the Pirates finishing the season third in the NL in HR’s and Slugging percentage, they seems prepared to use some quick scoring to put them over the top and advance through the post-season.

Bryce Harper (l) plays with lots of flare and energy for the Nationals. The same can be said for Yasiel Puig (r) for the Dodgers.

Bryce Harper (l) plays with lots of flare and energy for the Nationals. The same can be said for Yasiel Puig (r) for the Dodgers.

3) Which of MLB’s stars will shine the brightest in the playoffs?

Clayton Kershaw (Dodgers) is regarded by most baseball pundits as the best pitcher in the game. Mike Trout (Angels) holds the distinction by many as being the best all around player in the game. Miguel Cabrera (Tigers) has earned the title as the best hitter in baseball over the past few seasons. All of these players will have a chance to build their post-season resumes this year. Former MVP’s like Buster Posey (Giants), Justin Verlander (Tigers), and Andrew McCutchen (Pirates) will also have chances to enhance their playoff legacy. Young stars like Yasiel Puig (Dodgers) and Bryce Harper (Nationals) will also have the spotlight on them as the march to the World Series begins for MLB teams on Tuesday.–OnPointPress.net–

Charles Glover, Jr. is a sports aficionado and a management training consultant. Follow me @OpenWindowMES on Twitter.com.

MLB changes playoff format, aims for renewed interest

MLB Commissioner Bud Selig.

MLB Commissioner Bud Selig.

By Charles Glover, Jr.

Major League Baseball hopes the additional playoff team added in each league will spark greater interest in postseason play this season. MLB hopes intrigue drastically increases from the 2012 World Series, which was easily the lowest rated series over the past thirty years.

World Series ratings since 1984.

World Series ratings since 1984.

Tuesday and Wednesday night will be a one game elimination playoff game between the two Wildcard teams from the NL and AL respectively. The one-and-done format can increase excitement for that game for casual viewers. The Los Angeles Dodgers, Atlanta Braves, Boston Red Sox, are among the larrgest national fanbases that will have a tteam represented in the 2013 playoffs. Thursday will be the beginning of the divisional series where teams move to the next round by winning the best 3 out of 5 games.

Alex Rodriguez continues to fight his appeal of a 211 game suspension imposed by Bud Selig.

Alex Rodriguez continues to fight his appeal of a 211 game suspension imposed by Bud Selig.

There are some obstacles for the MLB’s hopes for increased interest in this year’s playoffs despite the change in format. The most marketable team in baseball, the New York Yankees, are noticeably absent and there are few individual stars that are big draws in the game of baseball today. Alex Rodriguez’s appeal of a 211 game suspension for PED use and other alllegations also threatans to take away attention from the MLB playoffs. The greatest challenge to the MLB playoffs however, is the exceptional interest in college and professional football in this country.

The change in format for the playoffs was designed to create a momentum of intrigue in baseball as it enters the postseason.The extra playoff spot is expected to give more teams an opportunity to make the playoffs, which would hopefully bring more interest in more teams for a longer period of time. The challenge for MLB is the lack of star power in their sport and the enormous popularity of competing sports, make the likelihood that interest will grow exponentially minute. It is unlikely the ratings for the World Series this season will be worse than 2012 but MLB is hoping for more than modest growth in interest in this year’s playoffs.-Onpointpress.net

Charles Glover, Jr. is a sports aficionado and management training consultant.