Charlotte Hornets: Why fans should pay attention to SportBLX new deal with PJ Washington

Charlotte Hornets fans should start paying attention to SportBLX new deal with PJ Washington.

I’ve often wished that there was a mechanism for sports fans to legally wager their money by investing in the young players that they believe will find longterm success, for example, the Charlotte Hornets.

For example, if there was an incoming rookie that you believed would outperform their draft position, you could purchase “stock” in the said player. As that prospect over time hopefully blossoms into a star and signs more lucrative contracts, then the invested fan would reap the financial benefits of their share prices rising.

Similar to early investors that have made massive financial returns in equity stocks such as Uber, Facebook, and Telsa, what if fans would have had the ability to invest in the likes of a young Russell Wilson (NFL 3rd round), Tom Brady (NFL 6th round), or Draymond Green (NBA 2nd round)?

Much like an institutional investor in the finance world that bets on corporations, asset classes, and IPO’s. Sports fans should also have a conduit in which to wager their hard-earned capital and reap the benefits or losses of their intuition on which professional players will or won’t succeed.

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In summary, a stock market for sports fans.

The news I am covering in this article is about a company that is working to provide just that type of opportunity. SportBlX has partnered with Charlotte Hornet and rising star, PJ Washington to create the first alternative asset offering for an NBA player to the general public.

PJ Washington is coming off a stellar rookie campaign with the Hornets, averaging 12.2 PPG, 5.2 RPG, and garnered 2nd team All-Rookie honors.

SportBLX co-founder Joe De Perio was generous with his time, and jumped on a Zoom call, so that I could ask some questions and better understand their vision and process with Washington, here is some of the information I was able to gather.

SportBLX’s initial foray into creating an asset class for the public to invest in professional athletes will not look exactly like the “stock market” situation that I described above, and that is a calculated decision.

Equity markets can be risky and volatile, Joe and his team at SportBLX hopes to be in this business for the long-haul. They want to create trust with their clients and with the fan base that will be investing in their clients. For that reason, the first offering with “PJ Washington Inc” will operate more conservatively, acting closer to a traditional bond offering than that of an equity market.

Bond offerings are not completely risk-free, but they do bring a high likelihood of a return to investors. Non-Accredited investors can buy shares of “PJ Washington Inc” for $100 at a minimum of 2 shares. Therefore, with $200, as a fan, you can own a stake alongside one of the young lynchpins of the Charlotte Hornets franchise.

As an investor, you will own preferred stock in PJ Washington Inc, which is a newly formed company that will focus on generating revenue to its shareholders via brand management, marketing opportunities, and wealth management.

The preferred stock will accrue a dividend of 5% on an annual basis and will be held for approximately 9 years until June 6th, 2030, at which time shareholders will make back their investment plus any accrued dividends. SportBLX anticipates that this opportunity is not only an attractive alternative asset class for sports fans but could also be a sound investment for individuals attempting to navigate the current macroeconomic climate of low yield interest.

The return on investment (ROI) for shareholders apart from the 5% annual return, will be based on SportBLX’s ability to execute on producing capital from marketing, sponsorship, and other forms of revenue in the marketplace.

As Washington garners these opportunities with assistance from SportBLX, owners of the preferred stock could see additional positive returns on their investments. Of course, there is no blanket guarantee of revenue, and any investor should always do their research before making such decisions.

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Due to PJ Washington Inc being SportBLX’s first attempt into the NBA market and their aforementioned desire to provide a conservative offering with a high probability of return, the ROI will not be directly linked to PJ Washingtons basketball-related income. Which could be quite volatile for a variety of reasons.

On the other hand, it stands to reason that your ROI could be indirectly impacted by Washington’s future success on the court. If the Kentucky product continues to ascend as a player in the NBA, he should also become more marketable.

Therefore, if you believe in Washington’s current career trajectory and ability to climb the ranks as a valuable player in the NBA, you would also be tied to his increased marketability and hopefully secure additional revenue to help maximize the ROI of your owned preferred stock.

SportBLX does hope for overwhelming interest and success in this initial venture. They are also looking forward to eventually bringing to market a version of the stock market for sports fans to allow investment to be directly linked to player performance, which is certainly an exciting product to look forward to in the future.

In the meantime, I wanted to bring some perspective and details about this new and fascinating development in the world of alternative asset classes, and considering PJ Washington is one of the bright young cogs for a revamped and improving Charlotte Hornets franchise, I was excited to write about this news regarding his new partnership with SportBLX to our great fanbase.

** To learn more about SportBLX please visit (Sportblx.com)

** This article should not be taken as financial advice and is only meant to inform the public

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