PHOENIX — Phoenix Suns stars Devin Booker and Chris Paul are getting into the jersey game.
Booker and Paul are among a new round of investors in replica clothing company Mitchell & Ness, according to a report published last week by The Athletic.
Suns players are two of the stars of the NBA – including LeBron James and Kevin Durant – providing financial support for the $250 million company.
“We want to keep doing things like that because this game has had the opportunity to grow so much since my rookie year and now the guys want to be part of the business of the game,” Paul told reporters on Sunday.
Sports merchandising company Fanatics bought Mitchell & Ness in February, but NBA athletes haven’t had a chance to invest until recently.
Fanatics CEO Michael Rubin was a minority owner of the Philadelphia 76ers until he sold his stake in the team over the summer.
NBA rules state that players cannot invest in companies in which owners are involved.
Rubin and Fanatics own 75% of the company, while the group of investors that includes Booker and Paul control the remaining 25%.
“So Rubin divesting himself of his ownership with the Sixers, being willing to teach us and talk to us and communicate to us about business and opportunities in life after basketball, I appreciate him more than anything for this opportunity. “, said Paul.
This isn’t the first time Booker and Paul have teamed up off the court.
Basketball players would have invested in the secondary market for WatchBox watches in December 2021.
Arizona Cardinals legend Larry Fitzgerald and NBA icon Michael Jordan were other WatchBox investors.