$85 Million Worth Spurs Legend Credits Magic Johnson’s Advice for Business Success

When it comes to the transition from basketball court to boardroom, few are as legendary as Magic Johnson. From cinemas to sports teams, the LA Lakers icon built an empire worth billions, solidifying his reputation as a business mogul as well as an NBA Hall of Famer. But it's not just his own ventures that speak to his business acumen; Johnson's advice has guided other athletes, including a San Antonio Spurs legend, who credits him for helping launch his own entrepreneurial journey.

Tony Parker, who is worth an estimated $85 million, recently shared how one piece of advice from Johnson profoundly shaped his of-court success. During his appearance on the 'Winning Minds by Oscar Bruel' podcast, he said, "When I was 23 I decided to meet Magic Johnson, talk about business. He gave me great advice."

"He was like 'Don't wait until you retire to start creating your network'. You know, he's like, 'Call now because now they wanna hang out with you but when you retire, they forget about you. But when you're active and you play, everybody wants to hang out with you and know what's going on,'" Parker revealed during the podcast.

Parker took Johnson's advice to heart, establishing a variety of ventures while he was still playing in the NBA. Among his notable investments is ASVEL Basket, a French basketball club where Parker serves as president. ASVEL has grown to be one of the top teams in France, and through the Spurs legend's leadership, it has even partnered with major brands like Nike.

In September 2015, Parker also announced the opening of his own basketball academy in the city of Lyon. In the summer of 2016, he and his business partners published plans to construct a new arena in Villeurbanne, and the arena now has a capacity to hold 5,556 spectators. Moreover, in 2017, it was also revealed that Parker had become the majority shareholder of Lyon Basket Féminine, a member of the French women's basketball league, now known as ASVEL Féminin.

"That's what I did. You know when I was playing, I will work on my network and for meetings you know with CEOs and stuff like that and I didn't go to school very long so I wanted to learn and I was very lucky to have people that took me under their wing and I was like a sponge you know, I would learn everything and at 26 I decided to invest in a basketb All Users all team and I started the process, you know I wanted to give back so I bought the men's team, bought the women's team, built the academy so when I retired the transition was very easy for me," added Parker during the podcast .

Now Magic Johnson's own business success story is legendary. Besides Magic Johnson Enterprises, the NBA legend invested in the sports industry. The most important financial decision he made in 2012 came in January when he bought the Los Angeles Dodgers for an incomprehensible $2.15 billion. He also has interests in the WNBA team Los Angeles Sparks and the NFL team Washington Commanders.

Moreover, the billionaire even expanded his sports investment portfolio in September when he invested in the Women's Soccer Team, the Washington Spirits. All these decisions led the Los Angeles Lakers legend to have a net worth of $1.2 billion and therefore this can also be said that Johnson was the perfect person to take financial advice from.

The San Antonio Spurs legend has played in the league for 20 years and from his comment, "My career was even better than my dream," during the podcast it can be noted that everything worked out well for the point guard. Now, just a few years into retirement, Parker has already established a legacy that goes beyond basketball, however, he has more accomplishments than owning a basketball team.

The other off-court ventures of Tony Parker Although Tony Parker took Magic Johnson's advice to pursue business ventures while still an active player, his interests off the court extend far beyond the boardroom. Besides his investments in sports teams and real estate, Parker has dabbled in music and philanthropy, showcasing a diverse range of passions.

Parker, a music enthusiast, once stepped into the recording studio to produce his own rap album. In 2007, he released TP, a French-language album featuring collaborations with French artists like Booba and Don Choa. The album revealed his love for hip-hop and gave fans a glimpse into his life outside of basketball. While his music career was brief, it underscored his willingness to explore creative outlets.

The guard's commitment to giving back is equally notable. While playing for the NBA, he set aside a block of 20 tickets at each home game for underprivileged kids. He is also highly involved with the Make-A-Wish Foundation and is the first Ambassador for its France division.

In the end, we can say that we not only find the business traits of Johnson in Parker, but the Spurs legend has even followed Johnson's footsteps into philanthropy.