After his NBA career was over, Tracy McGrady got involved with various business and charity ventures. The most recent one is surrounding an instructional program that will keep young athletes from getting broke after their sports careers are over. That is a joint venture between McGrady and Grant Haas of the Haas Portman Familly Office who already have a significant portfolio, including Uber, ChefsFeed, and StatMuse.
McGrady became a partner with Haas Portman, and the program’s most significant value will be connecting former athletes and finance and venture capital business. McGrady will serve as a bridge between the financial world and the opportunities that are out there and former players who want to make good use of their money.
“You can relate to my story because I’ve made a lot of money. I’ve created a brand.
Even though there is a lot more emphasis on getting players educated and ready for their life after their careers as an athlete are over, a lot of them go bankrupt very fast. That is a problem that manifested itself across various sports, and the NBA is no exception. A lot of former NBA players bankrupt relatively soon after their careers were over, which triggers a lot of other problems as well. McGrady himself witnessed NBA players selling their championship rings because they ran out of money.
“There’s some guys that have made hundreds of millions of dollars and have been broke five years after retirement looking for loans. I’ve had so many guys come to me and needed a loan or wanted to sell championship rings and s*** to me. “It’s crazy the things that have come my way. And I’ve been a guy that’s maintained and elevated my lifestyle, even being retired six or seven years. So that will be my story to these guys. I didn’t have to change the way I’m living. I’m living the same way from when I was making $20, 30 million.”