For some athletes, a Hall of Fame career is just the beginning.
Tracy McGrady retired from the NBA after the 2011-12 season but has been as active as ever as an investor and entrepreneur.
His latest venture — and the one where he has the most on the line financially — is the Ones Basketball League, a 1-on-1 league that sources non-NBA basketball talent from around the country.
“One-on-one basketball is the pure essence of the sport,” McGrady said on Front Office Sports Today. “When you look at the landscape of basketball, there are thousands and thousands of basketball players who don’t really have a place to play.”
The OBL is more than a whim for McGrady: The Hall of Famer self-funded the league with around $6 million of his own money.
“In order to grab people’s attention and get the right partners, you have to put skin in the game,” he said. “You have to believe in it before anyone else believes in it.”
Though the league is still in its nascent stages, T-Mac has raised another $10 million-$12 million with big ambitions: “The overall picture is to have OBL on a global stage.”
McGrady envisions having leagues in multiple countries around the world, culminating in a “World Cup” for one-on-one basketball.
Real Estate and Agent
Prior to OBL, McGrady founded an agency, Seven1, with Jermaine O’Neal. Both retired stars entered the NBA straight out of high school. With McGrady focused on OBL, O’Neal has taken the reins on Seven1.
“Hopefully it will grow and be a staple like a Klutch Sports or a CAA,” said McGrady.
McGrady is also an active real estate investor, particularly in Houston, where he spent many of his best years as a player.
“I tend to go with buildings that have tenants already in them,” he explained. “I’m about to sell off one and buy some more.”
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