This rapper is entering into new territory.
As both a rapper and businessman, Yo Gotti helms as the founder of Collective Music Group. The record label has signed heavy hitters like 42 Dugg, Moneybagg Yo and Blac Youngsta. Now, the music boss is stepping into new territory setting his eyes on a new business venture.
According to The Washington Post, Yo Gotti has joined petroleum executive Eyob “Joe” Mamo as a part of an investment group for Major League Soccer (MLS) team D.C. United. Other affiliates associated with the group have not been identified but are speculated to be in the national business sector. The group is projected to gain a six percent stake in the MLS if approved.
Yo Gotti has reached an agreement to purchase a minority stake in D.C. United, per @novy_williams.
The rapper is part of a group that will gain about a 6% stake in the MLS club, pending approval.
In June, RB Mark Ingram also invested in the team at a valuation of about $710M. pic.twitter.com/v5vUaHhWXb
— Front Office Sports (@FOS) September 13, 2021
If this business venture comes as a surprise, you may have missed the subtle hints the rapper dropped last month. Gotti made an appearance at the MLS All-Star Game where he met with MLS commissioner Don Garber in August. He has also cultivated relations over the years with D.C. United’s co-chairman Jason Levien and Steve Kaplan. The pair have invested in the NBA Memphis Grizzlies, residing in the rapper’s hometown.
Yahoo Sports reported the rapper’s stake totals slightly more than one percent from the deal valuing the MLS team at $730 million. Gotti would be the second star to follow suit buying into D.C. United, following a recent investment in June by NFL player Mark Ingram.
Celebrities that have also cashed in on the MLS include high-profiled athletes Lebron James, Kevin Durant, James Harden, and Patrick Mahomes, in addition to actors Ryan Reynolds, Matthew McConaughey and Natalie Portman. Celebrities have tapped into the MLS increasingly over the years due to the affordable entry in comparison to the NBA, NFL, and MLB.
Gotti’s additional ventures include a recent partnership between his music label and Interscope Records along with investments in real estate.
“I didn’t have education or information about real estate at the time. I learned after I already assumed a few houses and then I kind of fell in love with the rehabbing of the houses and fixing them up and just the whole process, and turned it into a business,” Gotti said to Yahoo News in 2020.
It’s nice to see the rapper staying busy in and out of the studio building business opportunities like a true boss man.