Larry Nance Jr. recently shared his thoughts on gaming and business with the Sporticast podcast.
New Orleans Pelicans reserve Larry Nance Jr.. used to avoid any commercial conversations outside of court. He is now one of the most active investors in the NBA community. The 31-year-old reservist turned community activist joined the Sporticast podcast to detail some of his most recent ventures. The Wyoming alum also got honest about which sport captured his heart and which one is used to cash the checks.
Nance Jr. is invaluable for the Pelicans on the pitch and in the locker room. However, the 31-year-old “wasn’t even willing to consider” off-field opportunities initially. The Ohio native I opened the podcast by explaining why it took a few years to understand the benefit of using off-field investments.
“One of the first things most of us realize is that four-year college students are rare,” Nance Jr. said. “Very few of us graduate. Very few of us majored in anything other than basketball when we were going to school. I think from that standpoint, guys like me and (CJ McCollum) or Jalen Brunson and Josh Hart, those Villanova guys, enjoy the business side of basketball. It’s quite rare now with one-and-dones. A lot of guys hire people to do it for them.
“The numbers are going up because we’re trying to educate them,” continued Nance Jr. “It’s gotten better. At the start of my career it was difficult, but it’s gotten better where guys are more engaged and interested.
Larry Nance Jr.’s Low-Risk Strategy, Leeds to Passion Project
Nance Jr. wasted no time building a portfolio once the value was understood. He now balances a conservative financial management strategy with a handful of higher-risk, higher-reward investments, including EPL soccer club Leeds United and clothing company Legends.
“At the beginning of my career in Los Angeles, I wasn’t open to (investing), I didn’t even think about it. I’m just going to keep the money I get and it’ll be great,” Nance Jr. joked. “Around 25, 26 for me, I just blinked and three years of my career was over. I had to start thinking about some of these things. As athletes, we get opportunities thrown at us like a ridiculous amount.
Sometimes it was a clothing brand, sometimes it was just someone who spotted Nance Jr. at lunch and wanted to pitch his idea. Some players even start other players, which is how Nance Jr. ended up owning some of England’s most historic football clubs. TJ McConnell hired Nance Jr. and it was an easy sell. The acquisition of Leeds United was achieved through a prudent investment strategy.
“The majority are very low risk, but I have the flexibility to be more aggressive in setting aside part of my check,” explained Nance Jr. “These are the relationships that make me feel comfortable investing. Another thing I learned is that money follows money. It’s a system to get rich, which benefits me at the moment. I got a decision and the investors were Lebron James, Drake and Apple. I didn’t need to see much more there.
“So Leeds. Is it an investment? Yes, but it’s much more than an investment for me,” Nance Jr. admitted. “For example, I play basketball, but my favorite sport and my favorite thing is watching football. All year round I love being involved in football, so Leeds is a passion project for me. Even if the group I’m with is full, I want to stay there. I want to be there for good. I want to be a part of this ownership team, this community, this fandom forever. That has truly been the joy of my career… I have had the chance to invest in other clubs but none like Leeds… Again, I play basketball. I like football.”
Pelicans listen to Larry Nance Jr.’s investment ideas.
Nance Jr. even pitched some ideas to CJ McCollum this season.
“You have to keep in mind that I spend more time with my teammates than my family during the season,” Nance Jr. said. “So I know what everyone likes to do, what everyone’s interests are. each.”
Passive income and dividend checks aren’t Nance Jr.’s only investment interest. The Larry Nance Jr. Zero Hunger Challenge was created with $50,000 in startup capital to help fight food insecurity in the local community. Local high school students were tasked with inventing new ways to address the root causes of food insecurity in the southern Gulf region.
The groups will present their ideas on March 3 and the winning group will take home the start-up capital. Swin Cash (Pelicans vice president of basketball operations and team development), Dr. Darvelle Hutchins (Pelicans vice president of equity and social impact), Nance Jr. and other regional and league-affiliated stakeholders will serve as judges.
Nance Jr.’s Zero Hunger Challenge has only just begun. The company also partnered with Eternal Seeds, a nonprofit founded by local artist Brandan “BMike” Odums. Odums was last seen supervising Pelicans players helping to create a Black History Month mural titled “I Am Because We Are.” The work of art is heads to auction and all proceeds will go to support Eternal Seeds, the Zero Hunger Challenge initiative and McCollum’s New Orleans-based College Beyond. scholarship company.
Nance Jr. and McCollum still have some unfinished business on the field for a few more months. They can sleep easy between games knowing that they and their communities will have something to fall back on when playing days are over.
About the Author
Chris Dodson has covered Louisiana high school and college basketball on and off for more than a decade. A lifer of bayou basketball, his wiggling gumbo form matches his elbow-dropping celebrations. Fast enough for college hoops, big enough for a football scholarship. He has words and will travel, but not on the field.
