Derek Fisher is going to partner in a new financing company that will cater to rich athletes who are having a hard time.
Luxury Asset Capital™, a leading provider of alternative financing, today announced the formation of its Sports & Entertainment Group and that NBA legend Derek Fisher and leading media, entertainment and sports attorney Samuel “Sandy” Fox have joined the group.
Luxury Asset Capital is a private, family-office owned lender to high-net-worth individuals, wealthy families, and entrepreneurs in need of capital, unlocking the equity in a wide range of assets that are high in value but typically low in liquidity. Its Sports and Entertainment Group works exclusively with athletes, entertainers, and their trusted advisors to provide short term capital from approximately $50 thousand to $5 million in a few days using a professional athlete’s or entertainer’s luxury assets, guaranteed contracts, retirement accounts or pensions as collateral.
Derek Fisher, Executive Vice President of Luxury Asset Capital Sports & Entertainment, and one of the most respected figures in professional sports, a five time NBA champion player, NBA and WNBA head coach, player representative and head of the National Basketball Players Association (NBPA) stated: “I know firsthand the financial challenges and situations athletes face both during and after their careers, and how the need arises for a range of financial approaches to meet them. Many times over the past 20+ years I have seen current and former players either miss opportunities or endure hardships due to cash-flow problems that easily could have been avoided through Luxury Asset Capital. I joined the firm to help ensure that the professional athlete community is aware of financial alternatives that can really simplify their lives.”
It is basically like a payday loan or title loan for rich people. Baron Davis though wasn’t impressed, he feels Fisher has scammed players before and he is doing it again.
Flip the page to see what B Diddy had to say.