The statistics aren’t kind. Eighty percent of pro athletes go broke soon after retiring. Kansas City Chiefs‘ Marquise “Hollywood” Brown will not be among them. Despite NFL stars’ eight-figure contracts, in most cases, their financial literacy does not match their salaries. Brown wants to change that.
“Players often leave their finances up to financial advisers who tend to invest in more traditional avenues, like stocks, because those methods also earn money for the advisers,” Brown told Mansion Global.
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“It hurts, seeing the stories of these guys who end up with nothing,” he said. “It’s a problem within the NFL, specifically for guys like myself who come from a background without a lot of money. We’re not educated on how to handle finances,” Brown, who has earned $25 million during a five-year career, continued.
The Kansas City Chiefs wide receiver, who was first drafted to the NFL in 2019 – first playing for the Arizona Cardinals and Baltimore Ravens before signing with the Chiefs this year – has cofounded Platinum Pro Capital, a private equity real estate firm with his wife, real estate influencer Zoei Brown. The firm has joined Jason Caraway of Island Sky Investments to educate professional athletes on the advantages of luxury real estate investing – in their case – in the Caribbean and other resort areas.
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According to Bloomberg, the company has backed an oceanfront luxury condo development in the U.S. Virgin Islands, is renovating a resort in Grand Bahama Island and is planning other projects in South Florida and Costa Rica.
Player investors are not urged to buy high-end rental properties from Brown’s company. Rather, they invest in his fund passively for returns on their money and the option to stay in vacation properties for free during the off-season.
“A lot of guys in our field, they like luxurious things, they are drawn to attractive places,” Brown said. “And a lot of us travel in the offseason, so instead of having a traditional house, they are drawn to places that feel like a vacation. That’s appealing to guys. I feel like it creates a sense of unity. So, owning property on Caribbean islands saves money in the long term because that’s where everybody wants to travel in the offseason. It really caught the eye of a lot of people.”
