Sporticast 326: ‘Money Follows Money,’ With Larry Nance Jr.
On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams speak with NBA player Larry Nance Jr. about his investment in English soccer club Leeds United, his new marketing agency, and how NBA players provide deal flow to one another.
A forward for the New Orleans Pelicans, Nance Jr. is in his ninth NBA season. He talks about how his business approach has changed over the years. Earlier in his career he says he “wasn’t even open to considering” business opportunities off the court, but that’s changed as he’s matured. Nance says he balances a conservative money management strategy with a handful of higher-risk, higher-reward investments. His portfolio includes Leeds and apparel company Legends.
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Nance discusses how NBA players are often looping each other into deals. For example, his involvement with Leeds came through fellow NBAer T.J. McConnell. He said he just recently brought an investment opportunity to CJ McCollum.
“You’ve got to keep in mind, I spend more time with my teammates than I do my family in-season,” he said. “So I know what everybody likes to do, what everyone’s interests are.”
Next they dive deeper into the Leeds deal. Nance says he “plays” basketball but “loves” soccer. It’s not a standard investment, Nance says, where someone puts money in and leaves the company alone. He says he’s watching Leeds games and is rooting for the team each time they play.
Next he talks about the NBA All-Star Weekend. There’s growing frustration inside the league about the game and the other All-Star festivities, and fans are also frustrated. He offers he thoughts on what can, and what can’t be done to fix that. He also talks about the NBA’s inaugural in-season tournament.
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