Sports
Orlando Magic guard Cole Anthony wants to help players manage their money
There were two things point guard Cole Anthony had to have going into his rookie season with the Orlando Magic in 2020.
Before Anthony, New York miracle and son of former NBA player Gary Anthony, was drafted in the primary round that yr, bought a sequence together with his initials for $30,000. After the draft and signing a four-year, $15 million contract, he leased a brand new Tesla Model S. The base model on the time cost about $100,000.
At 20, he wasn’t eager about long-term savings or diversifying his portfolio. Money was burning a hole in his pocket.
“My No. 1 instinct is that when I get a lot of money, I want to spend it,” Anthony, 24, told Andscape. “Especially as a kid, like in high school, I don’t even think about saving that money.”
But as Jay-Z of New York once said, “.” And Anthony wants younger basketball players to come out within the era of name, image and likeness, where athletes of all ages can money in on their talent, where managing money properly is just as vital as working in your username.
“You can make a lot of money fast,” Anthony said. “You can get out of a lot of money fast.”
Michael Aguda and Hector Martinez
On August 22, Anthony hosted his second annual The Playbook event. Anthony and his business team bring together New York City’s top highschool basketball players to help them navigate the financial maze of managing life-changing sums of money.
The event, held on the Police Athletic League in Harlem, featured a star pick-up game, a comedy show and a backpack drive. The fundamental event was a financial education panel headlined by Anthony.
Anthony sat down on a panel with former Rutgers men’s basketball player Geo Baker and representatives from Morgan Stanley’s Global Sports & Entertainment wealth management division, where the group discussed the importance of saving and budgeting, how to construct credit, the role of non-public taxes in sports, hiring the best advisors and the way to navigate NIL transactions.
Bryce Council — Anthony’s childhood friend and the manager and co-founder of Anthony’s charity, the 50 Ways Foundation — spoke with Anthony about mentoring opportunities for prime school basketball players within the New York City area, his hometown. After the NCAA board of directors ruled in June 2021 that college athletes aren’t any longer prohibited from cashing in on their talent, athletes of all ages, even already on the age of 9, managed to earn a variety of money from recommendations.
“They’re making money a lot earlier than we were making money when we were in high school,” Anthony said.
Growing up in New York City because the son of Greg Anthony, who played 11 seasons, including with the New York Knicks from 1991 to 1995, Anthony had a village around him that would help him navigate and avoid the perils of money management. Between his father, mother and stepfather, he had privilege and access to resources.
That’s why in The Playbook, Anthony wanted to share his personal story, empower athletes to learn more about money, and supply resources that may help athletes in their skilled and college careers.
“We chose New York because that’s where we’re from,” Anthony said. “We wanted to help the next generation of hoopers — I don’t want to just call them hoopers, because they’re more than that — just kids who come from New York.”
Gaining wealth will not be as easy and carefree because it could seem. There were NBA star and champion Antoine Walker squandered $108 million earned during his 12-year profession.
Anthony thought that big purchases just like the chain and Tesla would bring him happiness. He quickly learned that money alone wouldn’t solve all his problems. Within weeks of shopping for the $30,000 chain, Anthony never wore it again, eventually melting it down.
“It was fun, but it didn’t really do anything for me, it didn’t help my family, it didn’t help me,” he said. “It just looked cool. I feel prefer it was an enormous waste of money on my part.
“Although it was cool back then.”
As for the automobile, he didn’t need the Tesla on the time, but he got one and drives it to today (“I have to do something about that,” Anthony said, referring to the lease agreement. “You actually reminded me of that.”)
Michael Aguda and Hector Martinez
Anthony doesn’t want these young athletes to lose the money they earn from endorsements, especially as players’ values have increased. In 2014-15, each NBA team had a salary cap of $63 million. Golden State Warriors guard Stephen Curry signed a one-year, $62.6 million contract in August.
“I don’t want any of these kids to lose all the money they’ve worked hard for,” Anthony said. “I want them to take the money they’ve earned and let it blossom into greater wealth for themselves and their family.”
During The Playbook, participants took part in a sports-focused financial literacy exercise to learn the way investing and budgeting work. Morgan Stanley representatives asked athletes whether or not they would slightly receive a lump sum of $2 million or start with one cent and double the quantity day by day for a month, and the lesson was that the latter option actually yielded a better total (about $5.4 million). In one other exercise, participants were asked to join their five starting NBA players. They were then given a hypothetical $15 to construct a roster, with players divided into tiers based on skill level; an NBA veteran like LeBron James of the Los Angeles Lakers is perhaps price $5, while six-year forward Mikal Bridges is perhaps price $3. The lesson was how to budget in a way that best serves goals and desires.
“They brought it into basketball because it’s a real-life analogy,” Anthony said.
The NIL era has been long overdue, Anthony said, arguing that many basketball players struggle financially growing up in the game. The opportunity to be paid for their talent gives these athletes a lifeline that was previously denied. While Anthony had the privilege of growing up in Manhattan because the son of a former NBA player, most of his teammates in youth basketball didn’t have the identical upbringing. So Anthony understands the difference money could make for those just trying to make it.
(While some college basketball players still come from poor backgrounds, an Andscape study found that between 2010 and 2015, the proportion of first-generation college basketball players playing in Division I dropped from 28% to 19%.)
Anthony said financial literacy is significant because young athletes are exposed to big payoffs but may not have the correct guidance to stop them from letting the money eat them. He and other panelists on The Playbook also stressed the importance of finding someone they trust to guide them.
Sandra L. Richards, managing director and head of Global Sports & Entertainment at Morgan Stanley, which donates to the 50 Ways Foundation, said the brand new NIL situation exposes athletes to recent financial risks and recent resources.
“Unlike in years past, it is now encouraged and considered necessary to explore working with financial advisors, attorneys/attorneys, CPAs, and agents/brand managers to help build and protect their brands,” Richards wrote in an email to Andscape. “So ultimately, the method and exploration now starts earlier, which will be helpful in the event that they are surrounded by the best people.
“Today, young athletes can be more open and better prepared to begin their high school, college and professional careers, whether it’s the next level in their sport, business or life.”
Michael Aguda and Hector Martinez
Today’s highschool athletes have the potential to earn greater than $1 billion individually as NBA players. Five current NBA stars (James, Curry, Kevin Durant, Paul George, Joel Embiid) have signed collectively-held contracts price greater than $500 million in their careers, meaning the subsequent generation of stars is destined to exceed those totals more quickly.
Given the quantity of money being thrown around amongst young athletes lately, you may think it can never run out. But Anthony is here to challenge these ideas of unlimited funds. He emphasized to The Playbook participants which you can’t continue to exist money you haven’t earned yet, nor are you able to assume that the source of funds won’t ever dry up.
“Money can be your best friend if you manage it and take care of it properly,” he said.
Anthony became knowledgeable athlete a yr before the NCAA allowed NIL. However, when asked how NIL would have affected him when he was No. 2 recruit in his highschool class and as a freshman at North Carolina throughout the 2019-2020 season, his response was modest.
“If NIL hadn’t been there when I was out,” Anthony said, “maybe I would have just made a little more money.”
The 2023-24 college basketball season concluded under Black head coach Dawn Staley, who made history by leading the South Carolina Gamecocks to a 38-0 record and a national championship.
What could possibly be in store for Black coaches and their programs in 2024-2025?
While Staley and the Gamecocks are focused on winning more NCAA championships, a national title shouldn’t be a possible goal for each program. Some coaches will likely be chasing their program’s first-place finish in the NCAA Tournament or a regular-season conference title, while others may simply be chasing a winning season. This doesn’t make them any less worthy of consideration when creating your programs.
Here are the eight coaches and their programs chosen by Andscape as teams to watch in the 2024-25 season.
Photo by Nell Redmond/AP
South Carolina
Coach: Dawn Staley
After winning their third national title since 2017, Staley and the Gamecocks are definitely on course to turn into the primary repeat champions since UConn won 4 straight championships from 2013-2016.
South Carolina, which starts the yr because the No. 1 team in the country, lost the centerpiece of last yr’s team in Kamilla Cardoso, who was chosen in the primary round of the 2024 WNBA draft. But everyone else from last yr’s title-winning team returns, which is a scary reality. for the remaining of the speed.
The Gamecocks also strengthened their frontcourt by adding 6-foot-10 junior transfer Maryam Dauda, 6-5 redshirt freshman forward Adhel Tac and 6-3 freshman Joyce Edwards, the No. 3 player in ESPN’s class 2024.
The national title will likely be South Carolina’s to lose.
Joseph Weiser/Sportswire icon
Our Lady
Coach: Niele Ivey
What Niele Ivey has achieved since taking on as head coach of the Fighting Irish is already a powerful feat – three straight seasons with over 24 wins, an ACC regular season title, an ACC Championship and three straight Sweet 16 appearances. What’s much more impressive is that whenever you consider that it never had a totally healthy lineup in any of those seasons.
That won’t change, at the very least initially of the yr, as forward Maddy Westbeld will miss the beginning of the season with a foot injury. Forward Kylee Watson continues her rehabilitation after tearing her anterior cruciate ligament in March. Guard KK Bransford announced on October 8 that she can be sidelined for the season with a leg injury.
The Irish have arguably one of the best backcourt in college basketball with graduate Olivia Miles, getting back from an anterior cruciate ligament injury, and last yr’s freshman phenom Hannah Hidalgo. Add in a projected first-round pick in next yr’s WNBA draft, guard Sonia Citron, and a powerful transfer class with forwards Liza Karlen and Liatu King, and the Fighting Irish appear to be in a superb position to strike in March.
Lamar
Trainer: Aqua Franklin
Under Coach Aqua Franklin, the Cardinals were Southland Conference regular season champions last season. Lamar finished 24-7 and 17-1 in conference play with Franklin, who signed a contract extension in May, and was named Southland Coach of the Year. The Cardinals played in their second straight conference title game, but lost to Texas A&M-Corpus Christi, ending their 14-game winning streak.
Lamar returns 10 players. Senior forward Akasha Davis and graduate defender Sabria Dean were chosen as preseason All-SLC talents. The Cardinals will likely be searching for their first NCAA Tournament appearance since 2009-2010.
Michael Wade/Sportswire icon
WHEW
Coach: Jesyka Burks-Wiley
The 2023-24 season was a breakout season for Jesyka Burks-Wiley and the Panthers, who finished the season 21-12 overall and 11-5 in Conference USA. It was FIU’s first conference winning record because the 2012–2013 season and its first 20-win season because the 2011–2012 season. This season, the Panthers had two players named to the CUSA preseason team: senior defender Tanajah Hayes and junior forward Mya Kone, who was named preseason player of the yr. In her fifth season at FIU, Burks-Wiley will try to lead the Panthers to a conference title, a feat this system has not achieved since 2002.
UIC
Coach: Ashleen Bracey
One of one of the best program turnaround stories in the country occurred on the campus of the University of Illinois at Chicago. In 2022, UIC finished last in the Missouri Valley Conference. They finished 2-25 overall with a 1-20 record in the MVC.
Bracey comes in.
In her first season on the helm of the Flames, Bracey led UIC to a 17-win improvement and a winning season, this system’s first because the 2013-14 season. In her second season, Bracey led the Flames to their second straight victory and a 10-10 conference record. Bracey will look to take the following step for her program in the 2024-2025 season, either earning the team’s first conference record because the 2013-2014 season or advancing to the quarterfinals of the MVC Tournament for the primary time because the 2013-2014 season.
Troy Wayrynen/USA TODAY Sports
Prince
Coach: Kara Lawson
Whether she decides to take the Tennessee coaching job this offseason or stick with the growing Duke program, Kara Lawson will likely be a coach to watch in 2024-2025.
The Blue Devils showed what a threat they will likely be this season after they advanced to the Sweet 16 as No. 7 seed Ohio State in last yr’s NCAA Tournament. It was the primary Sweet 16 appearance in the team’s history since 2018.
Though led by senior guard Reigan Richardson, a preseason All-ACC selection. Duke was defined by its youth a yr ago. Nine Blue Devils on last yr’s team were freshmen or sophomores. Freshman Oluchi Okananwa was named the ACC Sixth Player of the Year.
Lawson, in his fourth full season at Duke, brings in one other top recruiting class this yr with three freshmen ranked in the highest 100 of HoopGurlz espnW’s 2024 recruiting rankings, led by Canadian forward Toby Fournier (No. 10).
Duke, picked to finish third in the ACC, will seek its first regular-season and tournament conference championship since 2013.
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North Texas
Coach: Jason Burton
Jason Burton made quite an impression in Denton, Texas, because the Mean Green’s first-year coach. North Texas finished last season 23-9 and set program records for conference wins and wins in a season. The Mean Green also won their first conference title since 1986. Burton was named AAC Coach of the Year.
This season, North Texas finished second in the AAC, just behind conference giant South Florida. The team is led by senior forward Tommisha Lampkin, who was named preseason player of the yr. After a disappointing end to the season in the quarterfinals of the AAC Tournament in March, North Texas will aim higher in the 2024-2025 season.
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Norfolk State
Coach: Larry Vickers
Larry Vickers, the Mideast Athletic Conference Coach of the Year the past two seasons, has positioned the Spartans to proceed their recent conference dominance. Over the past two seasons, Norfolk State has gone 24-4 in conference play. The team has won regular season and conference tournament titles and will look to win three championships in the 2024-2025 season. A yr ago, Vickers led the team to probably the most wins in a single season in the Division I era (27), a record this system had just broken the previous season.
The team is led by graduate defenseman Diamond Johnson, MEAC Preseason Player of the Year, senior forward Kierra Wheeler (Preseason First Team) and graduate defenseman Niya Fields (Preseason Second Team).
Also keep watch over: Vanessa Blair-Lewis (George Mason), Yolett McPhee-McCuin (Ole Miss), Carrie Moore (Harvard), Darnell Haney (Georgetown), Alex Simmons (Memphis).
The former president of the United States accompanied him to a round of golf this week. Former President Barack Obama was joined on a Pennsylvania golf course this week by Philadelphia Eagles quarterback Jalen Hurts, point guard Saquon Barkley and team owner Jeffrey Lurie. Hurts revealed on the press conference that although he did not have the chance to play with the president, he cautioned that “his day will come.”
According to President Obama, he was at Merion Golf Club on October 29 with Eagles players and the owner. Hurts was on the golf course but couldn’t play attributable to a contract clause that prevented him from doing so. He admitted that he and the previous president got into a discussion about trash; he told Obama that his day would eventually come after they could compete on the green.
He said Obama was “form of like an uncle figure. President Obama, the leader of all times. A beautiful presence. I believe this word is mundane. I can only imagine this lifestyle and all the several things that include it, but still seeing him having fun and talking nonsense; that was cool. I told him I didn’t want these problems yet. I told him I could not play golf straight away. According to the contract, I cannot play golf. But his day will come.
Jalen Hurts claims he didn’t play golf with former President Obama, Saquon Barkley and Jeff Lurie yesterday. Jalen stuck with the group the whole time. He says it’s in his contract that he cannot play golf.
Saquon says it was one among the good experiences of his life pic.twitter.com/OJGFpG3wKQ
— John Clark (@JClarkNBC) October 30, 2024
According to , Hurts’ teammate Barkley did just that play. He commented on this experience.
“It was probably one of the coolest experiences I’ve ever had in my life,” Barkley said. “Very handsome. It’s amazing, truthfully. I spent about 4 or five hours with him and got to do what I really like, which is play golf.
CLEVELAND — The collective chants broke out late in the fourth quarter and Los Angeles Lakers rookie Bronny James did his best acting job, keeping his cool in front of a sold-out Rocket Mortgage FieldHouse crowd.
“It was crazy, certainly bigger than I expected,” he said after the Lakers’ 134-110 loss to the Cleveland Cavaliers on Wednesday. “It was a nice moment. These songs really captivated me. I had a serious look on my face, but I felt it. I felt really good, especially driving from here. It was a special moment for me.”
Every week after LeBron James and Bronny James became the first father-son duo to play on the same court together in an NBA game on Oct. 22, their return to their native Ohio sparked praise and pride for his or her father, a legendary player who spent 11 years spent in the NBA with the Cavaliers and for his son, who spent his young years at the stadium, watching his father play.
In anticipation of the Lakers’ visit, a love festival began a number of weeks ago. The idea of the Jameses playing on the same team was a preferred topic of conversation in barbershops, especially of their hometown of Akron.
“First of all, we all couldn’t believe that someone would be able to play with their son for that long,” said Jason Andrew, owner of Andrew’s Barbershop in West Akron. “And as for the criticism of LeBron caring for his son, it is no different in corporate America. They care about their sons, why not LeBron?”
Since LeBron James helped the Cavaliers win their only NBA title in 2016, he stays well received by the fans who made Wednesday’s game successful.
“This game brings another level of excitement,” Deonte Edwards, owner of Kutz Barbershop in Akron, said before the game. “It’s always great love when LeBron comes back and it will be the same with Bronny.”
The anticipation also rubbed off on a few of LeBron’s former teammates. Former Cavaliers guard Daniel “Boobie” Gibson is well aware of the love affair Northeast Ohio fans have with their athletes.
“The game in Los Angeles where they made history was more of a look,” Gibson said. “But here it’s more a matter of feel. It’s more authentic. The fans here are more connected to (Bronny’s) story because he’s from here. And they intend to support him.”
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AP Photo/Tony Dejak, file
Earlier in the day, before the Lakers’ shootaround, Gibson said his support as a fan can be surreal because he hadn’t seen Bronny James since he was a child.
“What makes this game even bigger is that I saw him in this spot when we lifted the Eastern Conference championship trophy (2006-07),” Gibson said. “Seeing LeBron still playing at the highest level and now his son playing in the league doesn’t seem real. I’m just happy to soak it all in.”
Hours before Wednesday’s game, the Cavaliers organization placed several digital posters at the entrance to the visiting locker room. 15-year-old Bronny appeared at the exhibition in the middle of the Cavaliers’ NBA title celebration, with considered one of his fathers holding the championship and MVP trophies.
During the first timeout of the first quarter, the Cavaliers honored the father and son with a tribute video accommodates the most significant moments of the game of LeBron James and photographs of him and elementary-aged Bronny on the basketball court. The jumbotron also showed the father and son survive a split screen as arena host Ahmaad Crump welcomed them back to Cleveland.
“I was a little angry at halftime (because the Lakers were losing), so I didn’t have a chance to really appreciate (the video), but I heard it,” LeBron James said after the game. “When I heard his name too, that’s when I looked up and I think I hit him in the leg. (The video) was pretty cool.”
The Cavaliers, winners of 5 straight games, were hot as they led by double digits for much of the game. LeBron James got his. He had 26 points and 6 rebounds. At the starting of the fourth round, the Lakers led by 20 points.
Later in the quarter, the fans began chanting: “We want Bronny.” With LeBron James on the bench, Lakers coach JJ Reddick sent his son onto the court with 5:16 left. Several thousand fans stood and cheered. One of those fans was Bronny James’ grandmother, who was once a fixture on the scene during her son’s reign.
“I’m so grateful for all the people in the arena who were chanting his name and cheering him on,” Gloria James told Andscape. “It was special. Bronny worked hard to get to this present day and make it to the NBA. He is worthy and deserves it, I’m very comfortable for him and really comfortable for his dad.
Bronny James, a second-round draft pick of USC, gave his grandmother much more reasons to be comfortable when he scored his first NBA points shortly after entering the game in short stepback sweater, 2:03 left. The bucket means LeBron and Bronny James are the first father and son to attain in an NBA game. Bronny James was scoring points almost to the day when his dad scored his first NBA points against the Sacramento Kings on October 29, 2003.
“To see him score his first NBA basket in the arena where he grew up just down the road from here is an unbelievable moment, an unbelievable moment for him, especially for our family,” LeBron James said. “It’s just cool to be a part of it.”
Bronny James finished the game with 2 points, 2 assists and 1 steal. Fans didn’t get to see the father and son on the court like they did last week, but they left with something that was also memorable – especially for local Eric Hales and his 10-year-old son Blake.
“I’m here because it’s my son’s birthday and I wanted him to see LeBron and Bronny play together for the first time here in Cleveland,” Hales said. “LeBron and Bronny together on the same team is a great example of father-son collaboration. There is no greater joy.”
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