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Manu Ginobili’s buy of Main League Desk Tennis’ Florida Crocs is his newest funding since retiring in 2018.
San Antonio Spurs legend Manu Ginobili is making an attempt his hand at a brand new sport.
The NBA Corridor-of-Famer final week grew to become half proprietor {of professional} pingpong workforce the Florida Crocs, in response to officers with Main League Desk Tennis (MLTT), the game’s first skilled U.S. league.
Argentina-born Ginobili bought the workforce alongside Riverwood Capital executives Francisco Alvarez-Demalde and Jeff Parks plus a “choose group of know-how entrepreneurs and traders,” officers with the fledgling league stated in an announcement.
Phrase of Ginobili’s foray into the world of professional desk tennis comes every week after he was noticed enjoying pingpong at a San Antonio park with Spurs No. 1 draft choose Victor Wembanyama.
MLTT will function eight groups break up into East and West divisions, in response to the league’s web site. The groups will compete in regular-season tournaments from September 2023 by March of subsequent yr. Two groups from every division will head to the Last 4 in April to compete for $100,000 in prize cash.
MLTT officers stated six of the league’s eight groups have been bought to traders final week. Desk tennis olympian Dima Ovtarov was additionally among the many consumers.
“The overwhelming curiosity in MLTT, promoting six groups earlier than our debut season, has wildly exceeded our expectations, league founder Flint Lane, a software program entrepreneur and self-proclaimed desk tennis fanatic, stated in an announcement. “Having Dima and Manu concerned wasn’t even a dream that we dared having.”
Ginobili’s buy of the Florida Crocs is barely the most recent in a string of main investments he is made since retiring from the NBA in 2018.
In 2021, Ginobili joined Newtopia VC, a enterprise capital agency that invests in startups primarily based in Argentina, Brazil and Mexico, MySA reported.Extra lately, Ginobili — together with Spurs icon David Robinson and workforce Chairman Peter J. Holt — purchased a slice of the San Antonio Missions Minor Baseball League workforce, in response to the Specific-Information.
The Florida Crocs’ subsequent match will happen Oct. 13-15 in Myrtle Seaside.
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