Suns stars Devin Booker, Chris Paul invest in replica apparel company Mitchell & Ness
Oct 31, 2022, 12:09 PM
(Photo by Chris Coduto/Getty Images)
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 apparel company Mitchell & Ness, according to a report last week from The Athletic.
The Suns players are two of several NBA standouts — including LeBron James and Kevin Durant — throwing their financial support into the $250 million company.
“We want to continue to do things like that because this game has had an opportunity to grow tremendously since my rookie year and now guys want to be a part of the business of the game,” Paul told reporters Sunday.
Sports merchandising company Fanatics purchased Mitchell & Ness in February, but NBA athletes didn’t have the opportunity to invest until recently.
Michael Rubin, Fanatics CEO, was a minority owner of the Philadelphia 76ers until he sold his stake of the team over the summer.
NBA rules say that players can’t invest in businesses in which owners are involved.
Rubin and Fanatics own 75% of the company, while the investor group that includes Booker and Paul controls the other 25%.
“So with Rubin divesting his ownership with the Sixers, him being willing to teach us and to talk and communicate to us about business and opportunities in life after basketball, I appreciate him more for that opportunity more than anything,” Paul said.
It’s not the first time Booker and Paul have teamed up off the court.
The basketball players reportedly invested in secondary watch marketplace WatchBox in December 2021.
Arizona Cardinals legend Larry Fitzgerald and NBA icon Michael Jordan were other WatchBox investors.