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Shaquille O’Neal and Allen Iverson signing on to Reebok has benefited the business. As AFROTECH™ previously reported, O’Neal returned to Reebok in 2023 after walking away from a $40 million deal more than two decades earlier in 1998. He was appointed as Reebok’s president of basketball and has been “very” hands-on, he told Boardroom. “I do everything but nothing,” he said to the outlet. “True leaders don’t micromanage. If I’m gonna start a media company, I’ll call you. You do all the work, I proofread it, say yes or no, and we move on from there.” One of O’Neal’s strategic decisions was onboarding Angel Reese, who signed the company’s first major name, image, and likeness (NIL) deal. Now in the WNBA, representing the Chicago Sky, Reese dropped her signature shoe line with Reebok on Sept. 18, under a multiyear contract extension, and it sold out within hours of launching, CBS Sports reports. This affirms O’Neal’s priorities when he joined Reebok. “It’s all about product, players, and...
Former All-Pro Reshad Jones, a two-time Pro Bowler who spent his whole career with the NFL’s Miami Dolphins, has secured a significant legal win by reaching a $9.5 million settlement with Merrill Lynch, according to the Bleacher Report. Reshad Jones Merrill Lynch Settlement The settlement follows allegations that Jones’ former Merrill Lynch advisor, Isaiah T. Williams, took roughly $2.6 million from the football player. According to the outlet, the agreement was finalized on Aug. 14 and recently appeared on the advisor’s regulatory record. In his initial arbitration filing, Jones sought about $16 million in damages, citing unsuitable asset allocation, misrepresentations, unauthorized use of funds, and improper outside business activity by his advisor. Williams, who worked for the firm from 2017 through the end of 2024, reportedly orchestrated a scheme that siphoned funds from Jones. The allegations include more than 130 unauthorized transactions totaling about $1.6 million from...
Former NBA player Spencer Haywood sold what would have been a lucrative stock. In 1970, Haywood, who made history at the Olympics as the youngest American basketball player at 19, took his talents to the Seattle SuperSonics, after playing in the American Basketball Association (ABA) for the Denver Rockets, according to Legends of Basketball. Haywood represented the team for five years, during which time he was offered the opportunity to wear a Nike shoe by Phil Knight, co-founder and then-CEO of the company, which began in 1964 as Blue Ribbon Sports alongside Bill Bowerman. Haywood agreed, he revealed on the “All the Smoke” podcast. Knight also offered Haywood stock in the company, although Haywood admitted the concept was foreign to him. Basketball Network reports Haywood was Nike’s first-ever basketball shoe endorser. “First of all, I was young, too. And I’m thinking, ‘Livestock?’ What are you talking about,” Haywood said on the podcast. Nonetheless, Haywood accepted the stock but...
Kristopher Wright entered the footwear space by “happenstance.” Today, he is vice president at one of the world’s most well-known brands. Wright took center stage at the “Dope Thinkers Only Conference,” which was held at Louisiana’s Grambling State University from Sept. 11-12. As AFROTECH™ previously reported, the conference is intended to empower and connect students and professionals in marketing, communications, entrepreneurship, and leadership. “Conferences like this are needed at HBCUs just to show students from actual practitioners: ‘I’m doing this, this is how I did it. And you can, too,'” student Jae Newton told AFROTECH™. The Houston native is projected to graduate in 2026 with a bachelor’s degree in mass communication, a concentration in public relations, and a minor in business marketing. At the conference, Wright shared that, as a 12-year-old raised in Harlem, NY, he was already exposed to sneaker culture. However, Wright did not understand then that his current...
Former New Orleans Saints wide receiver Marques Colston and former professional mixed martial artist Nick Edwards are teaming up to bring sports investing to the masses. Together, the longtime business partners have launched the Champion Fund, an evergreen sports asset fund under their firm, Champion Venture Partners (CVP), Front Office Sports reports. While ownership stakes in teams and sports businesses have historically been limited to the wealthy, the Champion Fund allows anyone to participate for as little as $500, according to the outlet. The entry point is intentionally low, according to Edwards, who describes it as “compliance driven” but also practical. “Instead of sitting there swiping on DraftKings, or sitting at a baseball game and putting $500 on a parlay, you can have some meaningful ownership,” Edwards told Front Office Sports. “We think of it like a mutual fund. After you invest, you can see all the logos and know that you own part of this team, you own part of this...
WNBA player Napheesa Collier is back, making an impact both on and off the court. Who Is Napheesa Collier? Collier has become a key player for the Minnesota Lynx. A three-time All-WNBA selection and Olympic gold medalist, she quickly established herself after being drafted in 2019, according to College Net Worth. Her on-court impact includes helping lead the team to wins and earning Most Valuable Player of the 2025 WNBA All-Star Game, per CBS Sports. On Sunday, Aug. 24, Collier returned from an ankle injury to score 32 points on 11-of-16 shooting, with nine rebounds in 31 minutes, helping the Minnesota Lynx to a 97-84 win against the Indiana Fever, ESPN reports. “I had to knock some of the rust off,” Collier said, per ESPN. She added that teammate Courtney Williams would have finished with 11 assists if she had not missed her first few shots. “It feels like you are on the outside when you are not playing. I am having so much FOMO, so it feels good to be on the court with them...
Executive VP and chief marketing officer of the NBA’s Atlanta Hawks, Melissa Proctor’s first foray into entrepreneurship is centered around wellness. UATL reports that Proctor is now the proud owner of a physician-led wellness center based in the Buckhead district. She says caregiving has always been second nature to her, a role she embraced early on while helping her mother, who struggled with obesity and suffered multiple strokes. As a high school senior and for years after, Proctor supported her mother in any way she could until her passing in 2012. “I was under the impression that if you eat well and regularly exercise, then you’d be good, but there are other things that come into play you may not control,” Proctor told the outlet. Pravida Health Proctor is fueled to create better health outcomes for others through Pravida Health, which opened July 24. The venture was also launched alongside Dr. Trevor Turner, who serves as medical director. He gained industry experience at the...
Federal authorities are investigating former Detroit Pistons guard Malik Beasley’s alleged involvement in wire fraud, gambling, and illegal prop betting, according to ESPN. The allegations stem from Beasley’s time playing for the Milwaukee Bucks during the 2023-2024 season, sources told the outlet, with the focus on “unusually heavy betting interest on Beasley’s statistics” starting in January 2024. A gambling industry source shared that o ne or more prominent U.S. sportsbooks noticed the activity. The 18-month investigation is being led by the U.S. Attorney’s Office for the Eastern District of New York, Beasley’s lawyer Steve Haney told The Detroit News. “It’s a gambling investigation involving Malik. No criminal charges have been issued. It’s nothing but an investigation and Malik is entitled to the presumption of innocence,” Haney said, per the outlet. The investigation has reportedly resulted in the Pistons withdrawing a three-year, $42 million contract offer to Beasley. While...
Evander Holyfield, famously known as “The Real Deal,” is widely regarded as one of the greatest professional boxers of all time. His career, marked by resilience and impressive achievements in both the cruiserweight and heavyweight divisions, has cemented his place in boxing history. Beyond the ring, Holyfield has engaged in business ventures, endorsements, and philanthropy, contributing to his overall financial portfolio. Let’s explore his early life, illustrious boxing career, earnings, and entrepreneurial activities, all contributing to Evander Holyfield’s estimated net worth in 2025. Early Life And Amateur Boxing Career Evander Holyfield was born on October 19, 1962, in Atmore, Alabama . Raised in a modest household, Holyfield faced significant challenges during his upbringing. Boxing became an outlet for discipline and focus, steering him away from potentially negative influences. Holyfield’s amateur career was exceptional. He won the National Golden Gloves Tournament in 1983...
The third-most valuable Michael Jordan trading card has sold at auction. JOOPITER The rare card has made its way to JOOPITER, an auction house owned by Virginia legend and award-winning music producer Pharrell Williams. As AFROTECH™ previously reported, Williams had been a serial collector and launched the platform in 2022 “to embrace the energy that is released when objects change hands, and to respect the value that’s been created around these objects.” “Joopiter was founded to not only introduce a new voice into the auction landscape, but to recalibrate what it means to be a collector… We are excited to bring these objects to the world,” Williams said , according to WWD. Signed 1986-87 Jordan Card JOOPITER’s latest auction item was a signed 1986-87 Fleer #57 Michael Jordan rookie card, according to information shared on Instagram. Jordan’s card had been one of nine trading cards that he signed back in 2024 on his private golf course in Florida, per the auction’s page. The card...
Mark Cuban is stepping into a new game — this time alongside leaders working to reshape the face of professional sports ownership. According to Bloomberg, the billionaire entrepreneur and former Dallas Mavericks majority owner has been named a general partner in Harbinger Sports Partners Fund, a newly launched $750 million private equity fund targeting minority stakes in legacy U.S. sports franchises. The fund is co-founded and led by Rashaun Williams, a venture investor and limited partner in the Atlanta Falcons, and Steve Cannon, former CEO of AMB Sports and Entertainment, the parent company of the Falcons and soccer club Atlanta United FC, Bloomberg reports. Per the outlet, Harbinger is focusing on investments in teams across the NFL, NBA, and MLB. Williams, Cannon, and Cuban together bring operational experience, league relationships, and deal flow access to the table, significant factors that could set the fund apart from other institutional players entering the sports world....
Two-time NBA champion Rajon Rondo, 39, returned to the University of Kentucky (UK) this month, not for a game but for a graduation ceremony. The former All-Star point guard officially earned his bachelor’s degree in communications during the university’s May 2025 commencement ceremony at Rupp Arena in Lexington, KY, as Yahoo Sports reports. The moment marked a full-circle achievement 20 years after Rondo first enrolled at UK as a standout freshman in 2004, the outlet states. After two seasons with the Kentucky Wildcats, Rondo declared for the 2006 NBA Draft, where he was selected 21st overall by the Phoenix Suns and later traded to the Boston Celtics, per Yahoo Sports. What followed was a decorated 16-season NBA career with several teams, including an NBA championship in 2008 with the Celtics and another with the Los Angeles Lakers in 2020. Rondo last played for the Cleveland Cavaliers in 2022. He officially retired from the NBA in April 2024 with a net worth of over $45 million, as...
There are clubs that no amount of charm or charisma can get you into. The kind where wealth isn’t enough if it isn’t old, where opportunity depends not on merit but on access, and where the real decisions are made behind velvet ropes and closed boardroom doors. For far too long, the world of professional sports ownership has been one of those clubs. This is where Jaia Thomas and Diverse Representation enter the chat. What started as a digital directory for Black agents and publicists has evolved into a movement to radically shift the face of power in sports and entertainment. Through events like the recent Black Ownership in Sports Symposium in Atlanta, GA, Founder and CEO Thomas is not just asking for a seat at the table. She’s building new tables altogether. The symposium brings together current and aspiring Black owners, investors, and leaders to discuss tangible pathways into one of the most exclusive spaces in business. Paxton Baker was one of the speakers at this year’s...
Former NBA player Jason Kidd has invested in another soccer team. As AFROTECH™ previously told you, the 10-time NBA All-Star and current head coach of the Dallas Mavericks has continued to pursue his passion for sports well beyond his playing days. As an investor, his portfolio includes two soccer teams based in his hometown of Oakland, CA: Roots SC (men’s) and Soul SC (women’s). “In The Town when you talk about sports, we all had heroes. I’m excited to join the Roots and Soul family,” Kidd said at the time, according to Andscape. “I’ve been seeing videos of all the support they get. I’m just trying to help the family. I especially like that there are both male and female teams. Also, with the teams being in The Bay, I felt like it was a great fit.” Everton Added To Portfolio Now, Kidd has invested in another soccer team, this time joining Roundhouse Capital Holdings, which is part of The Friedkin Group, the ownership group of English Premier League club Everton, mentions ESPN. The...
Athletes are leaning further into content creation to build a sturdy brand. While sports is a bridge between athletes and fans, content creation is another avenue that can further enhance the relationship. Now, more and more players are leaning into this in various ways to give fans a closer look into their lifestyles and interest. At the 2025 NAB Show (National Association of Broadcasters) held in Vegas, NV, PlayersTV Co-Founder Collin Castellaw was among the leaders gathered for a panel titled “Empowering Athletes: The Rise of Player-Owned Media in the NIL Era,” moderated by journalist Chris Smith on Tuesday, April 8, 2025. PlayersTV As AFROTECH™ previously told you, PlayersTV, established in 2020, is the first athlete-owned media network and content provider. It is currently backed by players that include Chris Paul, Kyrie Irving, Travis Kelce, Dwyane Wade, Carmelo Anthony, and Damian Lillard. The media network currently has nearly 70 professional athletes as owners, investors ,...
