NBA stars are some of the highest-earning athletes in the world of sports. But we come across stories of stars losing their fortunes more often than that of stars building theirs. Carmelo Anthony, however, is one who has built on his portfolio and amassed quite a fortune.
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The former Nuggets star is worth around $160 million and has set up quite the investment portfolio. And Anthony’s investments also seem to be centered around the world he was well-versed with – sports.
Also read: $160 Million Worth Carmelo Anthony Breaks Silence on Whether He’ll Ever Play in the NBA Again
Along with Pau Gasol and Jay Williams, Melo is one of the board directors of Overtime. Overtime is a sports media company that also operates the Overtime Elite pro-basketball league.
The brand has quickly become one of the most prominent names in sports, particularly, basketball. The profits from the venture have also paved the path for further investments from Melo. Involvement in the formation of Isos7, an entity involved in equity ownership followed.
Isos7 seeks to raise around $750 million revealed the founders while deeming it “not a venture fund”.
The enterprise aims to make varied investments ranging from $50-$100 million each in sports-related ventures. Melo isn’t teaming up for such a big venture with amateurs either. Executives involved in the grand stage development of the WWE, George Barrios, and Michelle Wilson are in charge of the Is0s7 vision.
“It’s not a venture fund. We’re looking for businesses, teams, leagues, sports betting and adjacent companies that are profitable or have a short-term path to profitability. Strong core business fundamentals are always the first thing we look for. Beyond that, the ability to build things like a global fan base, global appeal and fan engagement—like what we did at WWE—are really important to us” revealed Barrios and Wilson, about their grand plan.
Melo has a set of high-profile investments, but Isos7 might just be the most ambitious one of them all. And the ambition may have just been spurred on by the success of his Overtime investment. A five-fold return on investment in a short time is definitely bound to pique anyone’s interest.
Overtime’s evaluation reached $500 million, marking a five-fold jump in value.
The media company was formed only in 2016. The return on investment in such a short span of time is definitely inspirational. Being a pioneer in such an investment is definitely something the star can be proud of.
The presence of NBA stardom in the leadership group certainly aided Overtime. The brand has made quite the impact in the NBA stratosphere and having two NBA all-timers and another basketball cult icon definitely gave them a springboard in the community.
With Overtime Elite also looking to influence the NBA draft process, their influence is only bound to increase. Melo’s investment seems to be set for historical returns. With Isos7 also rolling in, Anthony definitely anticipates growth in that $160 million fortune of his.
