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.”
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.”)
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.”
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.”
Sports
NFL star Terrell Owens signs a contract with Michael Strahan’s talent agency
NFL Hall of Fame receiver and podcast host Terrell Owens has signed with a talent agency to further strengthen his claims within the entertainment game.
According to , Owens was signed by SMAC Entertainment, headed by host and NFL Hall of Famer Michael Strahan and his business partner Constance Schwartz-Morini.
NFL insider Jordan Schultz has also joined SMAC Entertainment.
“We are excited to add TO and Jordan to the SMAC family. They are both at the top of their game and set the standard in their industry,” Schwartz-Morini said in a written statement. “TO and Jordan have already brought an infectious energy to our team, and we are excited to help them realize their vision for careers in media, business and branding.”
A five-time first-team All-Pro and six-time Pro Bowler, Owens played for the San Francisco 49ers, Philadelphia Eagles, Dallas Cowboys, Buffalo Bills and Cincinnati Bengals. In 2018, he was finally inducted into the Pro Football Hall of Fame.
A member of the 2000 NFL All-Decade Team, Owens finished his profession with 1,078 catches for 15,934 yards, 14.8 yards per catch and 153 touchdowns, rating third all-time in receiving yards and touchdowns.
Since retiring from skilled soccer in 2012, Owens has already made several moves. He has appeared in several movies and tv shows, including “,” and in addition had his own reality show, “, on VH1.
He currently co-hosts the podcast with former NFL player and sports analyst Shannon Sharpe.
SMAC Entertainment is home to stars similar to rapper and actor Common, Wiz Khalifa, Strahan, Deion “Coach Prime” Sanders and current NFL players similar to Stefon Diggs and DK Metcalf.
Sports
Phoenix Suns guard Devin Booker brings an NBA championship desire with his Olympic experience
The gold medal went to the USA Basketball team. Mission completed on the 2024 Paris Games. U.S. men’s basketball coach Steve Kerr just answered his final query during his final news conference on Aug. 10 after his team defeated France within the gold medal game.
However, before leaving the stage of the press conference in Paris, Kerr stopped to deliver an unsolicited message to media around the globe.
“Devin Booker is an amazing basketball player. Nobody asked about him. He was our unsung MVP. I just desired to say that,” Kerr said.
The “underrated MVP” compliment meant so much to the Phoenix Suns guard.
“It meant everything. No one really asked him,” Booker recently told Andscape. “That was probably something that was weighing on his mind throughout the entire process. A 12 months ago I said what I desired to do for this team and what we desired to do for the country.
“It was a lot larger than all of us. Survival was something we’d discuss for the remainder of our lives.
The USA Basketball team was centered around NBA star icons LeBron James, Stephen Curry and Kevin Durant. There has also been some discussion amongst media and fans in regards to the lack of playing time for Jayson Tatum and, to a lesser extent, Tyrese Haliburton. Lost within the shuffle was the all-around, unselfish play of sharpshooter Booker wearing the armband.
Booker was fourth in scoring for the U.S., averaging 11.7 points, 3.3 assists and a couple of.2 three-pointers made early in all six Olympics, and likewise had the perfect plus/minus (plus-130) for an American. Kerr was impressed with Booker’s deal with a difficult defense, regardless that he is thought for his offense, ball movement and the way he has adjusted to not being one in every of the highest options on offense.
“I just understood what was at stake,” Booker said. “I’m proud to be from this country. I’m happy with playing basketball. Even though it wasn’t invented in America, we dominated for a very long time. Obviously the world is incredibly talented and the sport is growing, however it was just one other message to allow them to know who we’re.
Booker said he also learned in regards to the preparations from his all-star team, watching the preparations on and off the court. The 28-year-old added that he gained lifelong friendships.
“It’s cool to see that everyone has their own issues,” Booker said. “In my 10 years in the NBA, I’ve learned that you have to choose what you can use for yourself. But the level of detail, the attention to detail, the intensity – it’s all consistent across the board.”
As for Durant, Booker said the bond between the 2 Sun stars “is close and grows stronger every day.” They live about five minutes from one another within the Phoenix area and commonly spend time at home and on the road. Most recently, Booker had to steer the Suns without Durant, who was sidelined with an injury.
The amazing Durant averaged 27.6 points, 6.6 rebounds and three.4 assists, which were tops for the Suns. However, the 14-time NBA All-Star has been sidelined since November 8 with a left calf strain. Suns players Bradley Beal (calf) and Jusuf Nurkic (ankle) were also sidelined. The Suns are 1-5 without Durant, which incorporates 4 straight losses.
Booker and Suns sans Durant’s next rivals shall be the New York Knicks on Wednesday evening (ESPN, 10 p.m. ET). Over the last six games, Booker is averaging 24.1 points, shooting 43.2% from the sphere and making 16 of 43 three-pointers. Suns guard Tyus Jones said there was numerous pressure on Booker offensively due to the injury.
“We’re asking a lot of Book,” Jones said after Monday’s 109-99 loss to the visiting Orlando Magic. “It’s numerous pressure for him. We are very focused on it. They are physical with him, holding him and grabbing him, throwing two or three bodies at him all night long. So he’s got so much on his plate and we just need to proceed to seek out ways to get him open within the moments we will and proceed to assist him when other players are taking shots and making plays.
Booker currently has two Olympic gold medals, 4 NBA All-Star appearances and one NBA Finals appearance. The only thing missing from the Suns’ second-leading all-time scorer is an NBA championship. Since the Suns joined the NBA as an expansion team in 1968, they’ve yet to win a title.
After experiencing the joys of winning a gold medal, Booker as an NBA champion wants the gold Larry O’Brien NBA Championship Trophy much more.
“Most of the guys that were there did it,” Booker said of his Olympic teammates who were NBA champions. “They were champions. This is standard for them. Anything lower than that, they need nothing to do with it. It’s contagious…
“That’s all I want. That’s all I want.”
Sports
New Unrivaled Women’s League Reveals Team Rosters and Coach Allocations
After months of introducing the players and coaches who will participate in its inaugural season, the brand new Unrivaled 3-on-3 women’s basketball league announced its team rosters and coaching assignments on Wednesday.
Founded by WNBA players Napheesa Collier and Breanna Stewart, Unrivaled consists of six teams of six players each. The league was created to offer WNBA players with a substitute for playing overseas in the course of the offseason.
Although initially announced as having 30 players, the league has since expanded to 36, which Collier attributed “above financial forecasts”. The league has announced 34 players publicly up to now.
The inaugural season of Unrivaled will begin on January 17, 2025, with all games going down in Miami. Here are the official teams for the inaugural season, as well season schedule.
Vinyl Basketball Club:
– Coach: Teresa Weatherspoon
Rose Basketball Club:
– Coach: Nola Henry
Mgła basketball club:
– Coach: Phil Handy
Lunar Owls Basketball Club:
– TBD: wild card
– Coach: DJ Sackmann
Phantom Basketball Club:
– TBD: wild card
– Coach: Adam Harrington
Laces Basketball Club:
– Coach: Andrew Wade
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