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Ray Allen turned down a lucrative offer as a rookie to sign with Nike. The California-born athlete was drafted by the Minnesota Timberwolves in 1996 during the first round as the fifth pick, according to ESPN. He was traded that same day to the Milwaukee Bucks with a three-year rookie contract valued at $6.2 million, per Spotrac. Allen’s earnings helped him remain level-headed when he was receiving offers from FILA and Nike. He already had his mind set on Nike and was not even swayed by a six-figure offer from FILA, despite having a prior sponsorship deal with the company. “ I almost ended up wearing FILA. My agent at the time tried to make me accept a check for a $100,000 but they were telling me they were going to give me a signature shoe,” he told Sports Illustrated in a 2017 interview. “It was either FILA or Nike at the time, and (FILA) told me (I’d get) the signature shoe for five years years but the first two I had to lead the team in scoring, rebounding, steals or assists....
James Harden hit the jackpot thanks to an investment decision influenced by the late Kobe Bryant. During an interview on the “Earn Your Leisure” podcast, the basketball star revealed that Bryant suggested creating a pool of money dedicated to investments, including sports drink company BodyArmor. As previously reported by AFROTECH™ , Bryant had invested $6 million in BodyArmor back in 2014. “Kobe basically was like ‘W e going to put a stash of $5 million and then any like business opportunities — it might be as little as $200,000, it might be $500,000 just depending on what, you know, what investment it is. But we going to put a pot together and we just going to invest our money,’ rest in peace before he passed away,” Harden explained to “Earn Your Leisure” hosts Rashad Bilal and Troy Millings. “ But BodyArmor was the beginning of that, and we seen how it is.” While it is unclear what Harden’s direct contributions were, the investment into BodyArmor was a smart move. In 2021,...
NBA star Giannis Antetokounmpo has launched a venture capital firm. According to Bleacher Report, the Milwaukee Bucks player has introduced Build Your Legacy Ventures (BYL). The venture capital firm, backed by institutional investors and tech veterans, aims to funnel investments into the sports and entertainment sectors. As noted in a press release, the firm will be “driven by the Antetokounmpo family’s dedication to fostering innovation and entrepreneurship.” “I’m incredibly energized to launch BYL Ventures as a way to give back and support the next generation of visionaries,” Antetokounmpo, founder and general partner of BYL Ventures, said in the release. “This fund is not just about capital; it’s about forging partnerships and opening my network to accelerate the growth trajectory for companies. I want to help other entrepreneurs, especially those who have faced barriers, to grow and succeed. BYL Ventures will be focused on finding people with big dreams and helping them make...
A handful of Michael Jordan memorabilia has sold for millions. According to the Chicago Sun-Times, a jersey worn by the former Chicago Bulls star during a 45-point game in the 1996-1997 season sold for $4.7 million at auction. This met expectations, as the auction house Sotheby’s had projected it would sell for between $4 million and $6 million. “One of the finest Michael Jordan jerseys ever to come to auction, MJ wore this road-red jersey for 5 months and 17 games during the Chicago Bulls legendary 1996-1997 championship season,” Sotheby’s commented on Instagram. View this post on Instagram A post shared by Sotheby's (@sothebys) Brahm Wachter, Sotheby’s head of modern collectibles, commented to the Chicago Sun-Times: “This jersey symbolizes not just Michael Jordan at the height of his celebrity and prowess, but also a pivotal moment in basketball history. Today’s results highlight the enduring strength of the game-worn market, especially those pieces associated with Michael...
Anthony Edwards has been making headlines recently for his prolific performance on and off the court . Since joining the NBA in 2020, the young legend has already managed to stack up a list of accolades a mile long and has even landed a front-and-center placement as the subject of a season-long documentary with Netflix’s Starting 5 . The latter has seen Edwards popping up in the news a lot lately, due to his braggadocios nature and tendency to roast Jayson Tatum every chance he gets. Since Edwards has become such a major media figure in recent years, it only makes sense that we take a look at his net worth and various streams of income . According to Celebrity Net Worth , Anthony Edwards is currently packing an impressive nest egg of over $40 million, exemplifying his meteoric rise to super-stardom. So, let’s take a moment to study Edwards’ rise to popularity, college and NBA records, and other various streams of income to see what we can learn about his fast accumulation of...
LeBron James’ name is now attached to another accomplishment. According to the Akron Beacon Journal, a St. Vincent-St. Mary jersey, worn in high school by the current Los Angeles Lakers star made its way to Julien’s Auction in Gardena, CA. The jersey was sported during a 2002 Sports Illustrated cover titled “The Chose One,” captured by Michael LeBrecht, who served as a Sports Illustrated photographer at the time, per the auction house’s official site. “This was the first time I shot LeBron and these are the images here. Just kind of a simple setup. I had him dunk the ball at least 40 times. G ot him praying to make the NBA, and then I just felt like, ‘Okay let’s get a little bit more animated.’ He’s posing, I’m like, ‘J ust reach out like this’ and I’m like, ‘G ive me a woo.’ And he’s like ‘Woo!’ Y ou look back and you don’t realize it was a real turning point,” LeBrecht said in a video shared by the auction house. That photoshoot remains a memorable moment in sports , and now the...
It is no secret that professional sports players are some of the world’s highest-income earners. From basketball to soccer to American football, these athletes earn a top dollar through highly negotiated contracts to play the game they love. But who are the people who ensure these massive deals are secured? Agents have been on the front lines of deals and negotiations to ensure their clients receive the “big bucks” and contracts that reflect their skillset and worth. One of the more prominent firms involved in some of sports’ largest deals is Klutch Sports, led by founder Rich Paul. View this post on Instagram A post shared by Rich Paul (@richpaul) According to an AFROTECH™ profile, Paul built his career without attending college. After high school, he started reselling vintage jerseys, which led to a chance meeting with LeBron James in 2002. At the time, James, a 17-year-old basketball phenom, admired Paul’s powder blue Warren Moon Houston Oilers throwback jersey in an airport,...
During Donovan Mitchell’s off season he is educating himself on the wine sector. The starting guard for the Cleveland Cavaliers is said to be the first-ever NBA star wine apprentice, according to information shared with AFROTECH™. Mitchell dove into the various aspects of winemaking with the help of The Prisoner, a Napa Valley-based wine brand that has worked closely with the NBA since 2020. The company also works with 100 growers in the northern region to produce various blends, according to their website. Mitchell’s introduction to the winery dates back to two years ago, while attending an event in the midst of the summer league in Las Vegas. “Ever since then it’s been a non-stop in my house,” he explained in a YouTube video. Now, as a student in the field and through the assistance of The Prisoner’s head winemakers, Chrissy Wittmann and Todd Ricard, he became more familiar with the systems in place to blend wines while in the barrel room and has gained an understanding of the...
Mark Cuban believes it’s only a matter of time before an NBA player signs a $1 billion contract. The Dallas Mavericks’ minority owner shared his thoughts during an appearance on Shannon Sharpe’s “Club Shay Shay” podcast. When Sharpe asked if he thinks the world will ever see such a monumental deal, Cuban responded, “Yeah, but that presumes that TV keeps on going up the way it is. But, you’re going to see a hundred million dollars a year here shortly. Because if the TV contract has 10% increases in the cap, [which is] the way the CBA works. You saw Steph [Curry] had 62 million for one year… and it’s going to go crazier.” The Collective Bargaining Agreement (CBA) defines the employment guidelines and agreements for all professional basketball players in the National Basketball Association, per its website . It also outlines the rights and responsibilities of the NBA Clubs, the NBA, and the National Basketball Players Association (NBPA). Sharpe’s question was prompted by 25-year-old...
While in the NBA, Al Harrington had long-held dream of owning a cannabis dispensary; now he owns several. As AFROTECH™ previously reported, Harrington is the founder of Viola Brands, which exists to “increase minority participation and ownership in the cannabis industry while positively impacting and reinvesting into communities most affected by the war on drugs.” Its inception was inspired by his grandmother, who suffered from glaucoma that impaired her vision. He suggested she consume cannabis, and although she was initially reluctant, it helped her greatly after trying it. “She was complaining about her eyes hurting and I said, ‘Grandma, why don’t you give it a try.’ I said a doctor will actually recommend it,” he told News 12 New Jersey. “I said, ‘It’s legal here,’ and she said, ‘I’m in so much pain today, I’ll try anything.’ From that point on, I had a different outlook on cannabis. I realized that it was medicine. So, I started doing research and then eventually I got into the...
If duality had an avatar, it would be NBA champion Jaylen Brown. From his passion for STEM to launching a nonprofit aimed at addressing the Black wealth gap, Brown has consistently proven that no box is big enough to hold him. If winning the 2024 NBA championship and Finals MVP wasn’t enough, the 27-year-old has added another accomplishment to his resume by launching his debut performance brand, 741. Brown’s connection to the number 741 runs deep, with each digit carrying personal and spiritual significance, driven by his affinity for numbers and frequencies. The numbers 7, 4, and 1 have shown up throughout his journey, symbolizing spiritual growth, hustle, creativity, and fresh starts, according to the brand’s official website. For Brown, these numbers align with his leap of faith to break away from the industry mold and do things on his terms. “741 is more than just a sneaker brand,” Brown said via a press release . “It’s a statement about independence, creativity, and ownership.”...
Shaquille O’Neal says he took a pay cut while playing for the Miami Heat. The NBA Hall of Famer played for the team for four seasons, between 2004 and 2008, according to Sports Illustrated. Previously, he was a three-time NBA champion with the Los Angeles Lakers, where he played alongside his teammate Kobe Bryant. O’Neal’s tenure with the Heat was accompanied by a decision that cost him $20 million, he explained on “The OGs” podcast. He recalls a conversation with former Lakers head coach Pat Riley, that presented him an ultimatum surrounding his salary. “Pat came in and he said, ‘Shaq I love you. I can give you the whole 120 [million] and we can have nobody, or I can give you 100 [million],'” O’Neal said. “‘Give UD some more money. I can bring in Posey. I can bring in GP. I can bring in all them guys.'” O’Neal decided to take the pay cut because he was purely motivated by his desire to win. He added, “And I was like, ‘You know what. I need to win. Cause I gotta win one before Ol’...
Ulysses “Junior” Bridgeman now holds a stake in the league where he once played. Bridgeman was drafted to the NBA in 1975 and selected by the Los Angeles Lakers as an eighth pick in the first round, Basketball Reference reports. Bridgeman continued his career in the league with nine seasons for the Milwaukee Bucks, followed by a two-year stint with the Los Angeles Clippers, before returning to the Bucks for his final season and retiring in 1987, Sports Illustrated mentions. At his highest, he earned $350,000 in a single season, as AFROTECH™ previously reported. However, his fortune greatly increased beyond the NBA, amassing a reported $600 million. His business portfolio has included Wendy’s and Chili’s restaurant franchises, although he later sold his stakes in 2016 and soon after became a Coca-Cola distributor. The basketball veteran is also the owner of Ebony and Jet Magazine as of 2020. He purchased the publications for $14 million after they filed for bankruptcy. In a...
Charles Barkley is fulfilling his commitment to a school that has ties to a historic math discovery. As AFROTECH™ previously reported, Calcea Johnson and Ne’Kiya Jackson, who attended St. Mary’s Academy in New Orleans, LA, at the time, found an alternative way to solve the Pythagorean Theorem during their senior year. Without using circular reasoning, they were still able to use trigonometry, which had puzzled mathematicians for over 2,000 years. “Calcea and Ne’Kiya explained it to me like this: Basically, trigonometry is based on Pythagoras’ Theorem (A^2 + B^2 = C^2, sound familiar?), so using trigonometry to prove Pythagoras’ Theorem is what’s known as circular logic,” mentioned WWL-TV 4 reporter Sam Winstrom. The young prodigies had come to this conclusion following a math contest held at their school, which was attached to a $500 incentive. “There was a bonus question that was to create a new proof of the Pythagorean Theorem,” Johnson told PEOPLE. “Ne’Kiya and I were the only...
By now, just about every fan of basketball has become well acquainted with the generation-defining legacy of Kevin Durant. The beloved NBA star is regarded as one of the greatest players of all time for his passionate performance, making him one of the most sought-after small forwards in the entire league. Over the course of his 16 seasons on the court, Durant has played for 4 teams, and amassed hundreds of millions of dollars in salary alone. According to Celebrity Net Worth , Kevin Durant currently touts a highly impressive net worth of over $300 million. While this sum comes primarily from his NBA salary, Durant has also bolstered his nest egg with money from endorsement deals , real estate, and many other prudent investments. Given that KD is undeniably in the GOAT conversation, now seems like as good a time as any to take a deep dive into his multiple revenue streams, and see what we can learn about his financial portfolio. For those looking to study the moves of...