Carmelo Anthony become an Free agent

25/07/2014 17:22 Carmelo Anthony: All Star, Olympian, venture capitalist? The New York Knicks' newly re-signed star has started a fund to put money into technology startups with associate Stuart Goldfarb, a former NBC and Bertelsmann executive. M7 Tech Partners -- that's 'Melo No. 7, his jersey number -- will focus on "early-stage digital media, consumer net, and opportunistic technology startupst," TechCrunch reports. M7 has invested an undisclosed sum to Hullabaloo, which makes kids amusement tailored for pills. With the increasing push to feature Google Glass it seems these two regions of 'Melo's life. Having just signed an expansion with the Knicks for around 'Melo is merely the latest NBA star to parlay his fortune into investment firms. Steve Nash's Consigliere Brand Capital counts Contently and BirchBox while Jamal Mashburn and Michael Redd are finding life after basketball in venture capitalism. Hall is perhaps the most well known example, having co-founded Admiral Capital Group, a private equity firm focusing on real-estate. The trend of NBA players starting investment firms is part of the broader trend of sportsmen creating company enterprises in prep for his or her post-retirement professions. Michael Jordan became second billionaire sportsman and the first from the NBA, thanks in large part to his ownership stake his never-ending endorsement partnership and ancillary businesses and car dealerships. These players appear to be heeding the warning supplied by the bevy of retired https://www.retailblazer.com/budget-air-force-1-07-low-supreme-mowabb-editon.html.layers gone bankrupt, an issue that gained national visibility in the 2009 ESPN 30 for 30 movie, "Broke." According to Mint.com, 60 percent of NBA players declare bankruptcy within five years of retirement. From Latrell Sprewell to a multiple champ including Scottie Pippen, NBA history is riddled with cautionary tales, none with a higher fall from grace. In 2012, it was disclosed that The Response had blown through $200 million in career earnings, save for a $32 million "Reebok fund" that may give $1 million a year until he's 55. her response. Iverson's an extraordinary case, a tragedy exceptional in its protagonist's marked, swift demise but not unique in its course. Along with the dangerous spending and vulturistic entourage that often follow the sudden windfall basketball players frequently go broke due to poor asset management and financial illiteracy. The league and players' union are trying to combat this, promoting a f Cheap Air Force 1 White.nancial education program and a rookie transition system to help players manage their cash during and after. Robinson, Nash and now 'Melo are confronting that facet head on to ensure that history doesn't repeat itself. 'Melo in particular may want to tread lightly, nonetheless. Just as much as misunderstanding finances contributes to players' insolvency, so, too, do inferior investment options. Sure, Antoine Walker gambled away millions, but he also sunk more than $10 million in investment properties owing to the breathtaking incompetence of his financial advisor. Let's hope 'Melo is knowledgeable with his wallet, but if anything, at least he's an experienced partner in Goldfarb. 'Melo can say he's in great hands with his venture capital endeavor. Not as much could be said about that luxury watch magazine you did not understand he part-owned.