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[Saba Sports News] Former Mavericks owner Mark Cuban recently shared investment advice for NBA players during an interview with Shannon Sharpe.
Cuban advised players to hire a financial advisor who isn’t a friend and to avoid risky ventures like restaurants, clothing brands, liquor companies, and rap labels, as these industries often lack reliable returns.
“If I’m a two-way player, I’m living like a student. One broken ankle, and it’s over,” Cuban said, emphasizing the importance of saving. For those earning millions, he recommended hiring a professional advisor. He warned against investing in trendy areas like music or fashion, as they often fail. “Everybody wanted to have a rap label back in the day, but how many of those really succeeded?”
Cuban, who built his own billion-dollar business empire and became a Shark Tank investor, offers experienced insight. His track record lends weight to his advice, even if some players might find his views a bit harsh.