NBA guard Chris Paul wants to own an NBA franchise, a WNBA franchise, and at least 61 shares of Chevron stock. He discussed his portfolio with Forbes Senior Writer Jabari Young on Nasdaq Marketsite.
aHaving spent 19 seasons in the National Basketball Association, longer than few players ever, Chris Paul knows exactly what he wants beyond his Hall of Fame career.
“I've been involved in the league for too long, in every aspect of the league,” Paul says. forbes. I want to own the team. ”
Paul, 39, said: forbes Jabari Young, senior writer for Nasdaq Marketsite, talks about his NBA career, business portfolio and other entrepreneurial aspirations. He also wants to own a WNBA team, build an upstart soccer league and tap into the growing athlete media space. And Paul wants to honor his grandfather, who owned a Chevron gas station before he was murdered in 2002, owning at least 61 shares of Chevron stock (one for each year he lived). I'm thinking of doing it.
Again, one large transaction occurs first. Paul's current team, the Golden State Warriors, controls his $30 million option for next season, which must be exercised by June 26th. If they pass or the two sides can't agree on an extension, Paul will become an unrestricted free agent. That's not too bad for Paul, considering most NBA insiders are predicting that the once-dynasty Warriors could be in the midst of a rebuild. Paul says: “I'd like to know, but that's not possible.”
Paul joined the league in 2005 and has seen it all since. It was a long time ago when Dikembe Mutombo was still playing. Highlights (and lowlights) include:
- 2005-2006 Rookie of the Year
- 2011 lockout
- A veto trade that year would have sent him to the Los Angeles Lakers to play with Kobe Bryant.
- 12-time All-Star selection and 2-time Olympic medals
- He led labor interests for NBA players for eight years from 2013 to 2021, including firing racist team owner Donald Sterling and negotiating two collective bargaining agreements. Ta.
- Surviving the 2020 pandemic and social unrest.
Paul earned more than $350 million in annual salary as a player, according to Spotrac, a website that tracks sports transactions. Additionally, he has signed multi-million dollar sponsorship deals with billionaire Michael Jordan's brand and insurance giant State Farm.
Additionally, Paul is an equity partner in Slutty Vegan, an Atlanta-based restaurant franchise. He owns a stake in Watchbox, an online luxury watch market in which Jordan is also an investor, and The Soccer Tournament (TST), a winner-take-all men's and women's league with a $1 million prize. Paul is also an investor in his streaming platform. PlayersTV will develop content for the channel through his production company. Oh dip! ! .
In search of fairness: “Players have been the talent for a long time and have never been the owners,” Chris Paul said when talking about his investment in streaming platform PlayersTV.
Nasdaq, Inc./ Vanja Savic
He has worked in the NBA, including a tense time as NBPA president, when he helped players negotiate a new collective agreement with shrewd NBA team owners and CEO Adam Silver. I believe that my time there prepared me for the business world. It taught him about cooperation and patience.
“Often people think that if they invest, they can pay it back in six months,” says Paul. “People don't understand patience.”
“We're not investing in ideas,” he added. “You're investing in talent. You have to actually want to engage with these people. It might be the best idea, but if that person is out partying and you're If you go crazy spending the money you just invested, you're going to be crazy for a long time.”
Capital gain: clock Video to hear how What Chris Paul spent his first million dollars on, his perspective on NBA rising star Anthony Edwards, and Paul's take on what makes a great point guard.
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