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Orlando Magic guard Cole Anthony wants to help players manage their money

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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.”

The Playbook event included a panel on financial education led by Orlando Magic point guard Cole Anthony (second from left).

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.”)

Orlando Magic guard Cole Anthony (left) talks to young players at The Playbook event held on the Police Athletic League in New York.

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.”

For Orlando Magic point guard Cole Anthony, financial literacy is significant because some young athletes are projected to make a variety of money but is probably not given the correct guidance on how to handle it.

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.”

Martenzie Johnson is a senior author at Andscape. His favorite movie moment is when Django says, “You guys want to see something?”

This article was originally published on : andscape.com
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Floyd Mayweather buys Avi & Co Hue watch collection for $1 million

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With the nickname “Money Floyd” comes the expectation of constructing expensive purchases. Undefeated boxer Floyd Mayweather kept his end of the cut price when he reportedly bought 4 luxury watches price $1 million.

Mayweather posted a video on social media showing off the very expensive watches. He became the primary person to own all 4 watches from the Avi & Co Hue collection.

“When the craft in @aviandco is it flawless, selecting only one watch was not an option… so I purchased all 4 from the exclusive “Hue” collection. This is the form of quality you’ll be able to only get from a jeweler who is obtainable 24/7, where the service is as priceless because the jewels. Special due to @Forbes for consistently seeing me and others in such a positive light – that’s all the time a category of its own.”

Mayweather to appeal AND article on him and his collection. According to the article, the undefeated boxer already owned seven Avi & Co. watches. Mayweather said that after buying several personalized pieces from him, they became friends and he supported them. After seeing the 4 watches, each available for $250,000, he couldn’t select only one, so he bought all 4 for a cool million.

“It’s hard to pick one watch; they’re all exceptional timepieces. I’m proud of Avi and I support him. He’s my friend and if I want to hang out with him, I can. You can’t do that with someone who owns Rolex or AP (Audemars Piguet).”

The Hue Pink Ice was introduced in July. The watch is ready with 945 natural pink sapphires weighing 110 carats. The other colours, blue, green and red, have the identical variety of stones, with the blue having 108 carats of sapphires, the green having 115 carats of tsavorites and the red having 105 carats of rubies.


This article was originally published on : www.blackenterprise.com
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Reggie Bush Files Lawsuit Against NCAA, USC, Pac-12 to Recover NIL Money

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Former NFL player Reggie Bush has filed a lawsuit against the University of Southern California (USC), the National Collegiate Athletics Association (NCAA) and the PAC-12 Conference, looking for to get better money the organizations made off his name, image and likeness (NIL) during his college years.

According to the previous quarterback he played his collegiate profession with the USC Trojans from 2003-05, years before the NCAA was forced to change its rules regarding student-athlete compensation in 2021. He is now looking for compensation “to address and correct the ongoing injustices resulting from the use of Reggie Bush’s name, image and likeness during his playing career at USC football.”

Evan Selik, a lawyer for the previous New Orleans Saints player, said in a written statement: “This case is not just about seeking justice for Reggie Bush. It is about setting a precedent for fair treatment for all college athletes. Our goal is to correct this injustice and pave the way for a system in which athletes are rightfully recognized, compensated and treated fairly for their contributions.”

Bush won the Heisman Trophy while at USC (University of Southern California) in 2005. He relinquished the dignity in 2010 after NCAA officials discovered he had accepted improper advantages. After years of fighting to get the trophy back, the NCAA reinstated the dignity on April 24.

Bush just isn’t the one former student-athlete to file a lawsuit looking for repayment of cash he can have earned while in college.

Former Michigan athletes Denard Robinson and Braylon Edwards were amongst several other former Michigan players who sued the NCAA and the Big Ten Network earlier this month. In June, 10 players who won an NCAA championship while playing for North Carolina State in 1983 sued the NCAA and the Collegiate Licensing Company.

The NCAA and major college conferences are attempting to resolve three antitrust lawsuits related to NIL compensation for student athletes. There is an agreement to pay $2.78 billion to a whole lot of hundreds of faculty athletes.


This article was originally published on : www.blackenterprise.com
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Minnesota Lynx forward Napheesa Collier brings do-it-all game to WNBA title contenders

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For Minnesota Lynx winger Napheesa Collier, it was just like the closing of a chapter in history.

Since joining the WNBA as a rookie in 2019, Collier has watched the organization rejoice the tip of its most successful era in franchise history, an era that brought the Lynx 4 WNBA championships in seven seasons from 2011 to 2017 and featured several basketball legends and Hall of Fame talents who inspired a generation of future WNBA players.

In 2019, Collier saw the team retire Lindsay Whalen’s jersey. Seimone Augustus and Rebekkah Brunson had their jerseys retired in 2022. In 2023, it was Sylvia Fowles’ turn.

On August 24, the Lynx retired Maja Moore’s jersey in front of former players.

Since being named the 2019 Rookie of the Year, Collier has evolved from the long run face of the Lynx to the franchise player of the team, watching and learning from a dynastic era that established a winning culture in Minnesota and being handed the baton to proceed it.

This season, the Lynx (30-10) are doing just that. Behind an MVP-level season from Collier, who joins an elite class of WNBA performers, Minnesota is a title contender. As the Lynx prepare for a first-round playoff game as a No. 2 seed against the No. 7 Phoenix Mercury, they will likely be led by their “humble superstar” in Collier, who has set her sights on making a latest winning chapter in franchise history.

“When we retired (Maya’s jersey), I think that was the last of that generation and that era, so it feels like we’re making our own destiny now — and hopefully we can follow in their footsteps with a championship,” Collier said. “It definitely feels like a possibility for us this year.”

Minnesota Lynx player Napheesa Collier attacks the basket during a game against the Connecticut Sun on September 17 at Mohegan Sun Arena in Uncasville, Connecticut.

Chris Marion/NBAE via Getty Images

Before her jersey was retired on Aug. 24, Moore joined the Lynx commentary booth through the second quarter of the night’s contest between Minnesota and the Indiana Fever. When asked about what Collier did, Moore raved about Collier’s selfless nature, her desire to win and the way she supported her teammates.

“I love the spring in her step. She’s just solid. Consistent,” Moore said. “She just knows who she is and how to play.”

It took Collier a moment to work out who she was as knowledgeable within the WNBA. As she matured as a player, she learned more about herself. With such a high level of talent within the league, she was forced to discover a place to thrive on the WNBA level because what worked for her in college modified at the following level.

“Just finding what I’m best at, where I excel, where my value is on the team and what I can do to be successful,” Collier said. “I think over the years of doing that, I’ve found my space.”

That space, for Collier, saw her play at an MVP level as a two-way handyman for Minnesota. Collier finished the regular season averaging 20.4 points (fourth within the WNBA), 9.7 rebounds (third), 3.4 assists and 1.9 steals (second). Collier said she all the time knew she was able to that level and is glad it happened.

“I think the No. 4 position in this league is one of the best. To be considered for MVP at this level — it’s unbelievable,” Lynx point guard Kayla McBride said. “I think she’s just playing with a little more tenacity this year and the expectations she has for herself, a quiet confidence. I’m always impressed with how she handles that and how she carries it, and she’s definitely taken it to another level this year.”

Collier has set profession highs in every major statistical category this season. Collier has focused on developing her game this offseason, emphasizing mid-range and improving her 3-point shooting. Previously, Collier’s mid-range shooting volume was limited to 11.8 percent of her 2-point attempts. This 12 months, it’s 17.6 percent.

“I’m still working on the second one,” Collier joked.

Collier’s teammates praise her mentality and work ethic, her consistency and efficiency. Brunson likes Collier’s commitment to development.

“Phee is someone I think is a superstar in this league, but she’s very coachable. She’s become a better defender. She’s become a better perimeter shooter,” said Brunson, a Lynx assistant coach since 2020. “She knows she has her favorite moves, but she still listens to us about the crease she needs to make, the counterattacks she needs to make. She’s still developing.”

Another strength of Collier’s game is her toughness and sturdiness. She’s never really been off the court for the Lynx, which has been the case since she entered the league and averaged 33.3 minutes per game as a rookie. Collier is averaging 2.58 miles, according to Second Spectrum, probably the most of any player this season (minimum 15 games played).

“She’s so good, you never want to take her out of the game,” Brunson said. “She’s still working on her body, her physicality, making sure she’s stronger and more durable in the offseason. That’s very important. No matter how good you are, if you can’t stay on the field, if you can’t be available for your team, it doesn’t matter. She’s someone you know you can count on. I think that’s definitely the key to this team’s success.”

“When you have a team like that — that really doesn’t care about individual accolades, just the team and winning — number one, it’s really hard to find that in the WNBA, and number two, I think that’s definitely a recipe for greatness.”

— Napheesa Collier

Collier’s miles should not only a measure of her minutes, but her activity in possession. On offense, she averages about 1.42 miles per game, second within the league behind Caitlin Clark (1.46, min. 15 games played this season).

“The hardest thing for me to guard is the guys that move around a lot,” Collier said. “I think just trying to be as active as possible is really tough for the defense to keep up with you and know what you’re doing. That’s definitely something I try to do.”

Collier can often touch every level of the sector on a single possession and be involved in multiple plays because the Lynx navigate to get one of the best looks. Of the 4 kinds of plays Second Spectrum tracks (handoffs, isolations, picks and post-ups), Collier and New York Liberty wing Breanna Stewart are the one players within the league with greater than 70 plays while playing all 4 plays. Lynx coach Cheryl Reeve describes Collier’s brand of offense as “opportunistic.” Sometimes it’s Collier’s ability to exploit defenses which are out of position, other times it’s her flying in from the perimeter to grab an offensive rebound and finish a second-chance point.

Minnesota Lynx forward Napheesa Collier will play on September 17 at Mohegan Sun Arena in Uncasville, Connecticut.

Erica Denhoff/Icon Sportswire

In the WNBA’s superteam era, where accumulating star players has been the title-winning strategy for a lot of teams, from the New York Liberty within the East to the Seattle Storm and Phoenix Mercury within the West, the Lynx see themselves because the latter.

“When you beat a team like New York, that’s a superteam, and we’re not a superteam, we’re a collective,” Reeve said after the Lynx beat the Liberty on Sept. 15. Minnesota finished the regular season 2-1 against New York, excluding a Commissioner’s Cup final win over the Liberty in June. “They believe in each other and they believe in our collective. There’s more than one way to be successful.”

While on paper the team doesn’t have many Olympians or All-WNBA players, it’s not without star talent. The secret’s the team’s composition.

“It all comes down to what we can do as a team to win,” Collier said. “When you have a team like that — that really doesn’t care about individual accolades, just the team and winning — number one, it’s really hard to find in the WNBA, and number two, I think that’s definitely a recipe for greatness.”

The Lynx have considered one of the league’s best defenses. They rank second in defensive rating and steals and first in opponents’ field goal percentage (41%). The defense is anchored by Collier, a contender for this 12 months’s Defensive Player of the Year award. Collier’s defensive impact is clear in her ability to alter opponents’ shots. According to Second Spectrum, she is holding opponents to just 36.2 percent field goal shooting as a closest defender this season, the bottom within the league (amongst 114 players who had 100 field goal attempts against them as a closest defender). Collier ranks third within the league in steals per game and fourth in defensive rebounds (7.5 per game).

“Defensively, being able to take on the challenge of the great centers in our league — whatever we ask of her, she rises to the occasion,” McBride said. “I think she’s just playing with a little more tenacity and the expectations she has for herself this year.”

Minnesota’s offensive strength comes from balance. The Lynx are second in field goal percentage and the WNBA’s best 3-point shooting team. They have 4 players within the league’s top 10 in 3-point percentage, and forward Bridget Carleton and McBride lead the league amongst players with greater than 190 attempts. Courtney Williams is a number one mid-range threat and leads a team that leads the league in assists.

“I know a lot of times teams focus on me. If I have the ball, I open it up for someone else,” Collier said. “I can go into the center position and do something or pass it to the other side. We have so many threats on the team, it’s impossible to guard all of us.”

With Minnesota in search of its first championship since 2017, the last title won by the previous Lynx dynasty, Brunson said the message to Collier is obvious: No matter who you play, you could have to create your personal legacy.

“I don’t think Phee is thinking about how she fits into what we’ve done. She has her own goals and things she wants to accomplish with this team. I think the most important thing for her is that she understands that,” Brunson said. “Yes, there’s pride in wearing a Lynx uniform, but for her to be in the moment and know what she wants to carve out for herself and her teammates, I think she’s got a great head on her shoulders.”

Collier has emphasized her growth as a locker room leader yearly. She draws on what she learned from the team’s best players, whom she calls one of the best leaders she’s ever had. She’s taken the winning traits she saw playing alongside Augustus and Fowles and has been trying to embody them ever since. She’s grateful to have Brunson coaching her, an countless source of what it takes to win the massive game.

With Collier leading the way in which, we hope the Lynx team can gain that have first-hand.

“We have the talent to do it,” Collier said. “We just feel like we’re, hopefully, repeating history.”

Sean Hurd is an Andscape author who focuses on women’s basketball. His athletic peak got here at age 10 when he was named camper of the week at Josh Childress’ basketball camp.

This article was originally published on : andscape.com
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