NBA history is littered with sad stories of players going broke after not handling their finances well. Of late, however, there is a seeming shift in thinking among players, who are now more invested in long-term wealth, growing their brands and generally being financially literate while still playing to prepare them for life after basketball.
Among them is Cleveland Cavaliers forward Larry Nance Jr., who, in his 11 years in the NBA, has ensured that, in addition to developing his game, he has also shored up his affairs outside basketball through various business ventures.
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He is happy to say that a number of players are more engaged in businesses now, or at least open to exploring different opportunities and learning the importance of diversifying their income streams.
Back in 2023, Nance, then playing for the New Orleans Pelicans, shared his experience discussing business with fellow players and how it has become a common practice across almost every team.
“It’s been pretty drastic as to what guys are comfortable and open to talking about in the locker room. Before I could go to a vet and ask him what he does, but it (business stuff) wasn’t openly discussed . Now we talk about it on the plane, on the bus or in the locker room. There’s no time where it’s inappropriate,”said the former Wyoming star, who is the son of NBA legend Larry Nance Sr.
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“The conversations are a lot more about the preservation of wealth,” he added.
Nance is building his portfolio
Nance has dipped his hands in various ventures and investments, among which is team ownership. In 2023, he became a minority owner in English soccer club Leeds United through 49ers Enterprises.
He got into it through fellow NBA player TJ McConnell of the Indiana Pacers, who tipped him about the opportunity to invest in the English Premier League club. Nance said he immediately got interested in the venture, being a soccer fan himself.
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The now 33-year-old player has also established his own marketing agency, which helps fellow athletes build their personal brands through different sponsorship and endorsement deals.
Nance has also been involved in gaming with the NBA 2K franchise through in-game content and promotional activities. He has been doing all of these and more while also helping the Cavaliers in the ongoing campaign.
Following Nance’s lead
Nance’s thrust in business and giving back to the community has rubbed off as well on young players like Stephon Castle of the San Antonio Spurs.
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Last season’s Rookie of the Year invested in a Connecticut-based soccer club, CT United FC, late last year.
“It was the right choice just to start at my age and to also give back to the state of Connecticut for what they’ve done for me. I just wanted to put my name out there as well and just have it build up as my career goes on. Just to have this on the back end is another great idea,” the former UConn star said of his investment.
“I just wanted to take this path early. My people brought it to me, and I thought it was a great idea. I love the state of Connecticut for obvious reasons, and I thought it would be a great idea,” he added.
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The NBA will still see players fail financially here and there, but it is a welcome sight that players are more aware of it and are making an effort to avoid it. And safe to say, Nance Jr. is all about sharing business “secrets.”
This story was originally published by Basketball Network on Apr 1, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.