The Business of the Athlete

How Former Basketball Pros Are Set To Become The Next Real Estate Moguls

What happens after the lights are shut off on an athlete’s playing career, and they decide to call it a career? Many continue to stay close to the game in coaching, management, or broadcasting related roles – whereas others venture off into the twilight and enjoy the retired life away from any attention. However, a trend has emerged in the last 20 years where we find athletes in new ventures that may have been previously unheard of. As the workforce evolves every few years, athletes are not shying away from reinventing themselves, and establishing themselves in fields that may not have been previously occupied by athletes.

One example of this is Aston Rose Sports & Entertainment, a newly founded real estate agency by athletes, for athletes. Co-Founders Lisa Leslie and Tomi Rose are spearheading this group of former athletes helping current athletes, coaches, and management staff to find luxury accommodation in the form of rentals, leases, and buying/selling services. Leslie, who is a pro basketball Hall of Famer (not to mention one of the greatest WNBA players of all time) mentioned the importance of having former athletes (especially African Americans) who can provide sound support and insight to young athletes who are brand new to wealth management real estate. “We understand that many African American and minority athletes are making money for the first time… many of those athletes fall into the trap of it being about things that don't appreciate in value for them; our firm is changing that," Leslie discussed in an interview.

Leslie’s co-founder, Tomi Rose, is a trailblazer in the athlete real estate space. A former professional cheerleader, Rose has been innovating in this space for the past 20 years. Additionally, she is VP of the NBA’s National Basketball Wives Association, creating and strengthening relationships with the wives of NBA players. It is no surprise to see Rose’s success in the real estate space given how closely she works with the players’ wives – it all comes back to how any individual (athletes specifically) can create their brand image and use it to their advantage. Rose’s work with the players’ wives directly connects to the work of a real estate agent, and filling the gap as someone who can be dependable and innovative has led to her success over the past 2 decades.

Joining Rose and Leslie are Rob Hite and Rod Watson, who are former pro basketball players, and have established a career as real estate agents. Watson has helped the likes of LaMelo Ball, De’Aaron Fox, and Zach Randolph with luxury real estate advice. Hite has become one of the top luxury real estate figures in Miami for athletes, having sold one of the region's top penthouses to David and Victoria Beckham.

As a service by athletes, for athletes, the recipe for success for Aston Rose is there. Athletes who continue to be empowered to explore opportunities in real estate, wealth management, and other athlete related services will have an advantage as a former athlete that non-athletes in the space do not have. We hope to see more athletes find pathways to support their fellow athletes and pursue their own ventures, and become innovators and entrepreneurs as they develop their own craft outside of their sport.

Published: April 8, 2022 - Issue 33 of The Sport Marketeer