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Detroit, MI, native Eminem is joining a list of individuals, such as former NBA players Grant Hill and Chris Webber, to bring a WNBA team to the city, according to Sportico. The 15-time Grammy Award-winning rapper — born Marshall Mathers — is part of a group led by Tom Gores and the Detroit Pistons. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into the city,” Gores said previously, per AFROTECH™. “For the WNBA, this is home, and our bid represents an unprecedented opportunity for the league to come full circle and effect a long-hoped-for Detroit homecoming. No city is more prepared to embrace the team as a community asset that drives unity and common ground.” According to Sportico, the franchise would play at Little Caesars Arena, which cost $863 million to build and is home to the Pistons and Red Wings. As AFROTECH™ previously reported, Michigan’s largest city had a WNBA team called the Detroit Shock from...
British Formula 1 driver Lewis Hamilton is helping the next generation pursue science, technology, engineering, and mathematics (STEM) careers. In 2021, Hamilton launched Mission 44, a foundation named after his race car number, dedicated to creating equal opportunities for young people worldwide. According to its website, the initiative focuses on advancing education, expanding access to STEM and motorsport careers, and empowering the next generation to reach their full potential. Initiatives include a motorsport scholarship, created in partnership with the Royal Academy of Engineering, that connects students with industry leaders. Recipients include Gerren Ntir, who earned a bachelor’s degree in motorsport engineering and is now pursuing a master’s. He was part of the scholarship’s second cohort. “Having seen the amazing work Mission 44 has been doing throughout the past year, I knew it was something I wanted to become involved in. Now, embarking on my own journey as one of their...
The number of Black-owned businesses has increased. However, there is still much room for improvement. According to a research study released by the online loan marketplace LendingTree, the data reveals a 22.2% year-over-year increase since 2019. Looking back to 2022, just 3.3% of businesses were Black-owned , and 40% were women-owned. Other trends highlighted in the report show that Atlanta, GA, remains the primary hub for Black-owned businesses. The city has held this distinction for the past three years, with 11.3% of Black-owned businesses traced back to it. Other key cities identified in the report include Fayetteville, NC, Virginia Beach, VA, and Memphis, TN. Conversely, California cities such as San Jose, Oxnard, and San Diego ranked lowest in the number of Black-owned businesses. “When I initially started my entrepreneur journey, there weren’t very many Black founders,” Tiffany Ricks, chief executive of the cybersecurity platform HacWarhe, told Inc. “Now it’s exciting...
Jim Reynolds is leading a vegan beverage brand that generates millions and is backed by notable athletes. Reynolds’ journey as a founder began in 1997. He had already spent several years on Wall Street before deciding to launch Loop Capital, a full-service investment bank, brokerage, and advisory firm that assists corporate, governmental, and institutional clients, according to its LinkedIn page. Inc. magazine reports that it is the largest Black-owned investment bank globally. Various deals have landed on the bank’s table, including one surrounding Coco5, a hydration beverage company. Its products are made with balanced sugars and no artificial dyes or flavors. They are also vegan, gluten-free, caffeine-free, and non-GMO. Inc. reports that as a health-conscious person Reynolds had already developed a taste for coconut water by the ’90, and heard about the company in 2011. He would go on to invest in Coco5 in 2015 and join its board. Over the next decade, Reynolds attracted the...
Former NBA players Grant Hill and Chris Webber are looking to bring a WNBA team back to the city where they once played. According to a press release, an ownership group led by Pistons owner Tom Gores has formed and placed a bid to bring the league to Detroit, MI. The state previously had a team between 1998 to 2009, named The Detroit Shock, which had been quite successful, CNBC reports. In fact, the team won three WNBA Championships. However, the franchise no longer represents the city after first moving to Tulsa, OK, and then to Arlington, TX, where it has played as the Dallas Wings since 2015. Now, a group that includes Hill and Webber is hoping to reignite momentum for the city to regain a WNBA team. This marks a full-circle moment for both Hill and Webber as they both played for the Detroit Pistons at different times during their professional careers. “This is an exciting opportunity to welcome the WNBA back to Detroit and bring additional investment and economic activity into...
WNBA legend Candace Parker wants to invest in the league. The Tennessean reports the WNBA intends to add a 16th team in 2028. A group of investors, including Former Governor Bill Haslam, Crissy Haslam, Pro Football Hall of Fame quarterback Peyton Manning, and entertainers Tim McGraw, Faith Hill, and Parker, have bid for a WNBA team in Nashville, TN, per AP News. The team, named the Tennessee Summitt, would launch by the 2028 timeline and play at Bridgestone Arena. “We believe a WNBA team, based in Nashville, could serve as a beacon for girls and women, young and old, across Tennessee, while also creating more opportunities for sports fans as our community continues to grow,” Haslam explained, according to AP News. As for Parker’s interest in bidding for WNBA ownership, it comes full circle. Her earlier career days include her time as an athlete representing the University of Tennessee women’s basketball team Lady Vols. She attended the school between 2004 and 2008 under the guidance...
Adidas may be one of the only companies that Cancel Culture has been unable to overtake. Before Geriatric Millennials and Gen Xers were wearing their very best Adidas shoes, courtesy of Run DMC ‘s 1986 song anthem, the brand wasn’t exactly known for embracing African-American culture. In fact, its 1949 founder Adolf “Adi” Dassler was a documented member of the Nazi Party. Although Adidas certainly doesn’t bring attention to his affiliation in the brand’s timeline , the brand doesn’t hide the founder’s name either. Dassler became the supervisor of the Hitler Youth Sports league , but there are some conflicting reports about whether he was politically enthused with his affiliation or whether his “sole purpose was to support athletes, regardless of political affiliation, religious faith or ethnicity.” Felix Reimann Then, add on images of Jesse Owens, the African-American winner of four gold medals at the 1936 Olympic Games in Berlin, who was wearing Dassler’s new handcrafted, leather...
Celebrity-backed investment firm Avenue Capital Group seeks to raise more than $1 billion. According to a press release, Marc Lasry and Sonia Gardner’s Avenue Capital Group established a sports investment fund in October 2023 to provide capital to sports leagues and teams in North America and Europe. The fund intends to extend its reach to Africa, Asia, South America, and Australia. The fund also plans to supply financial solutions to sports teams, owners, and leagues and invest in sports media, entertainment rights, real estate, and associated ventures, per the press release. Notable names supporting the venture include Stephen Curry, Lauren Holiday, Harry Kane, Candace Parker, Michael Strahan, and Lindsey Vonn. “We built out the company advisory board of athletes who are part of our company… Lauren Holiday, Candace Parker, Harry Kane over in Europe, and Steph Curry,” said Strahan during an interview with Forbes at the 2024 Forbes Iconoclast Summit. “It’s interesting ’cause it was...
Kyrie Irving is creating wealth for his father, who has a basketball background through his time at Boston University and in a professional league in Australia. Industry sources confirmed to Shams Charania, senior NBA Insider for The Athletic, that Irving will be signing his father, Drederick, to an endorsement deal with ANTA, a China-based sportswear brand. This also means his father will receive his own signature shoe, marking a first for a professional athlete to provide. Drederick Irving’s shoes are projected to debut as early as September 2024 across Foot Locker stores, a source mentions. Kyrie Irving’s connection to ANTA is the result of the company signing him to a deal in 2023 after he was dropped from his 11-year endorsement dea l with Nike. Per the outlet, he is ANTA’s chief creative officer as well and has the ability to sign collaborators and endorsers. View this post on Instagram A post shared by Shams Charania (@shamsnba) This is not the first time that an NBA player...
Grant Hill has diversified his wealth in team ownership. Hill had previously been a player across four teams in the NBA, and his time would conclude after 19 seasons. He accumulated more than $100 million during his playing days, and his earnings would only continue in retirement, CNBC reports. Atlanta Hawks In 2015, two years following his exit, Hill began sporting a new hat as a team owner. As previously mentioned by AFROTECH™, he became part of an ownership group headed by Ares Management Founder Tony Ressler, which acquired a stake in the NBA’s Atlanta Hawks from the ownership team led by Bruce Levenson, per Bleacher Report. The sale was reportedly valued at $850 million, reports ESPN. What’s more, it has proven to be a great addition to Hill’s portfolio as the team is now worth a staggering $3.3 billion, notes Forbes in 2023. Orlando City Soccer Club And Orlando Pride Hill widened his presence in ownership, alongside his wife, Tamia, becoming limited partners through their...
It was never about the money for tennis legend Serena Williams. During an interview on Bloomberg Originals’ “The Deal” podcast hosted by Alex Rodriguez and Jason Kelly, she recalls forgetting to pick up her award checks after winning tournaments, necessitating friendly reminders from her accountant. “When I started tennis, first of all, I’m from Compton, CA, and I remember playing on these courts, and my life was great. I never felt like I needed anything. So for me, money was never a motivation,” Williams told the hosts. “I remember when I first started, back in the day, they used to write out checks after you won your tournament. And I would always forget to get the checks. And so at the end of the year they would always have to say, ‘Serena, we have all these checks for you.’ I’m like, ‘Oh my God.’ And at the time, I had an accountant who would be like, ‘Serena. They sent me all these checks that you would forget to get from the tournaments.'” Instead, Williams was more focused...
About a week after stepping away from the WNBA, Candace Parker is embarking on a new trail to back the next generation of women athletes. On April 28, 2024, after 16 years in the league, the WNBA legend announced that she had retired. While Parker broke the news that she was hanging up her jersey, she also shared that she will continue to focus on her family as well as pivot to the business side of the sport. “This is the beginning…I’m attacking business, private equity, ownership (I will own both a NBA & WNBA team), broadcasting, production, boardrooms, beach volleyball, dominoes (sorry babe it’s going to get more real) with the same intensity & focus I did basketball,” Parker wrote via Instagram. View this post on Instagram A post shared by Candace Parker (@candaceparker) Amid Parker’s numerous aspirations, a leadership role has already come to fruition. According to a press release shared with AFROTECH™, on May 8, 2024, Adidas announced that Parker has been appointed as p...
With every team she’s played for, Candace Parker’s dominance on the court is undeniable. A multi-time WNBA champion, MVP and Olympic gold medalist, she has redefined expectations for female athletes . A two-time Olympic gold medallist and WNBA MVP, the 38-year-old was selected for the W25 and Top 20 teams in the league, which is a grouping of the top 25 most important and best players in WNBA history. Parker was a seven-time WNBA All-Star and a ten-time All-WNBA honoree throughout her career. But beyond the roaring crowds, a question lingers: what is Candace Parker’s net worth? Who Is Candace Parker? (Photo by Meg Oliphant/Getty Images) Candace Parker, a three-time WNBA champion, declared her retirement on social media on Sunday. The Los Angeles Sparks, Chicago Sky, and Las Vegas Aces were among the teams the number 1 overall pick in the 2008 WNBA draft played for 16 seasons. During her 13 seasons with the Sparks, she guided the team to 11 postseason trips, ending in a WNBA title in...
Dawn Staley isn’t just a name in women’s basketball ; it’s a thunderclap. A three-time Olympic gold medalist as a player and current coach of the dominant South Carolina Gamecocks dynasty, Staley’s impact transcends wins and losses. But for the curious minds out there, a question arises: what is Dawn Staley’s net worth? Who Is Dawn Staley? (Photo by Gregory Shamus/Getty Images) The story of Dawn Staley’s basketball career started as a University of Virginia college phenomenon. She broke records, setting a record for most steals in the NCAA and winning two National Player of the Year titles. Her greatest accomplishment was in the year 1991 when she won the NCAA Final Four as the Most Outstanding Player and guided her team to victory. Staley’s skills transferred to the professional arena with ease. Before moving on to play in the WNBA, she was a trailblazer in the early years of the American Basketball League (ABL). Although her abilities were evident, her influence was not limited....
Kanye West is determined to push forward in the fashion industry on his own terms. As previously reported by AfroTech, the businessman has had ongoing issues with Gap and adidas. In an interview with Bloomberg, he shared that he had his mind set on going solo by cutting ties with big corporate partners.