Way to diversify the portfolio!
NFL player Larry Fitzgerald purchased a minority stake in the Phoenix Suns, ESPN reports.
The move makes him the only active Black NFL player with NBA ownership share. He joins Aaron Rodgers, quarterback for the Green Bay Packers who has a stake in the Milwaukee Bucks.
The Arizona Cardinals wide receiver has had a great relationship with the Suns managing partner, Robert Sarver, for some time now. Fitzgerald is a regular at Suns games, holding season tickets since 2005. Recently, he has taken a more active role in the organization, acting as an ambassador with the team. With his new minority holding in the team, he has taken on a number of tasks, sitting in on interviews, canvassing for a Suns public arena vote, etc. But he will play the background, becoming more active with the organization only after he has finished his NFL career.
Fitzgerald credits this move to his relationship with Sarver saying, “I have a special place in my heart for the Phoenix Suns and Mercury, and I have a great deal of respect for Robert. He has become a dear friend and trusted confidante. He is a big part of why I am making this commitment.”
Ranking number 2 of all time in NFL receiving yards, Fitzgerald is a legend in the Arizona sports and charitable community, having been active in philanthropic efforts for the majority of his career. In 2016, he was named the NFL’s Walter Payton Man of the Year. He is regarded as one of the greatest of all time in Arizona Cardinal’s history, breaking every receiving record the organization has ever held and being voted All-Pro in 11 of his 16 seasons with the NFL. His role as a stakeholder in the Suns lends credibility in Arizona to Sarver and the organization.
“Larry has been a great ambassador for our organization for years. He is an Arizona icon and a businessman, passionate philanthropist, and leader. He brings a unique perspective from outside basketball but still grounded in sport, and we welcome him as a valued partner and investor,” Sarver said.
Congratulations Larry Fitzgerald! Keep changing the game!
Photo Courtesy of Phoenix Suns