The sports world got a rude awakening on Monday.
Ten-time NBA All-Star Carmelo Anthony announced on social media that he would be retiring from the league after 19 seasons.
Anthony, who was included in the NBA’s list of its 75 greatest players last season, stressed in his announcement video that his legacy is “more than basketball” and will continue through his son.
But Anthony, who earned over $262 million in just salary over his NBA career, is also poised to continue his business portfolio now that he’s officially stepped away from basketball.
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The three-time Olympic gold medalist started in 2013 by starting an investment firm called Melo7 Tech Partners. The firm has invested in around 37 to 40 companies, according to PitchBook and CrunchBase.
Some of Anthony’s notable investments include ticketing app SeatGeek, sleep startup Casper (CSPR) – Get Free Report, and sports media startup Overtime — which has ballooned into one of the most identifiable media brands targeting the Gen-Z market. Overtime’s valuation was at $100 million when Anthony first invested in 2018 and was at $500 million in 2022.
Anthony also has a media production company called Creative 7 and a wine brand named Seventh Estate.
Earlier this year, he partnered with Isos Capital to create Isos 7 Sports Investments, a private equity fund worth $750 million targeting emerging businesses in the sports space.
And all of these businesses are on top of Anthony’s personal brand that has allowed him to earn through endorsements like his own signature shoe with Jordan Brand. Anthony was the first athlete to be endorsed by the brand when he was signed in 2003.