Not Every Pro-Athlete Goes Broke After Leaving the Game, Just Ask Jamal “Monster Mash” Mashburn who Owns Over 80 Franchises

80% of professional football players and 60% of NBA players experience financial failure shortly after retirement. The list of horror stories of athletes going belly up when the “music stops playing” seems endless; Vin Baker, Antoine Walker, Lenny Dykstra, Curt Schilling, Mark Brunellthe list goes on.

Jamal Mashburn was a college phenom at the University of Kentucky and the 4th overall pick in the 1993 NBA draft by the Dallas Mavericks. He played 12 seasons in the NBA averaging 19.1 pts per game, before injuries took their toll.

Early in his career Jamal was conscious that the fame and NBA checks would not last forever and conducted himself accordingly. He adopted the philosophy of “always working with the end in sight.” Jamal viewed basketball as a means to an end. It was a vehicle to help aquire the capital and relationships to launch sustainable businesses. He lived well below his means and saved for the proverbial “rainy day.” Mashburn always knew he wanted to get into business and upon retirement he began to immerse himself into developing his empire. As a result of his prudence, he’s proven to be as successful off the court as he was on the court. Today Jamal owns over 80 restaurant franchises (Papa John’s, Outback Steakhouse, and Dunkin’ Donuts), several car dealerships, real estate, a marketing firm and a venture capital firm. Whew! I reckon he’s not too bored in his retirement years.

The key takeaways here are:
  1. Stack your paper, work hard and save for your initial capital in order to invest it.
  2. Don’t invest willy-nilly, take chances but be be smart about them and do your due diligence. As noted above Mashburn invested in tried and true business models such as franchises while also allocating a small portion of his portfolio for moonshots (riskier investments with a chance for higher returns) via his venture capital firm. (Strike the right balance of risk for your portfolio.)
Kudos, to Mashburn we wish him continued success! Are you building an empire? Hit me on the Gram, I’d love to hear about it.

Martel

Lots of gems in this video, hope you enjoy and pay it forward.