Manu Ginobili: “Investing in sports in Argentina is not profitable”
The legendary player and entrepreneur Emanuel “Manu” Ginobili does not think it is a good idea to invest capital in national sport.
In an interview in which Infobae participated along with three other Argentine media, Emanuel Ginobilli, the most representative figure in national basketball, said that he does not believe that investing in sports in Argentina is convenient from an economic point of view.
Those were his words after being consulted about the possibility of being part of a sports project in the country as an investor in the future. “Sports here is not profitable,” said the Argentine star, “if I did something like this here, it would be as a hobby and to dedicate a lot of time to it, and today I don’t want to be 100% with anything.”
“The day I want to do it, I think Argentina would be a good option because in case of making a mistake, it would be the cheapest place to do the experience.” “But if we are talking about investments, yes, I think it would be better in the NBA or in the MLS,” he stressed at an event in Córdoba in which a rebranding was announced by the Renault firm.
In short, where he sees the greatest possibilities is in American sports, since “it is the one that generates profits year after year.” However, he mentioned again that he does not rule out the possibility of investing in national sport, but not so much for the economic benefit but as a way of gaining experience for the future.
But not everything is black in Argentina for the ex-basketball player, his new passion is technology and this is demonstrated by the close bond he maintains as an investor with Ualá and with Newtopia VC – an investment fund for startups founded by ex -Government officials of Mauricio Macri and the co-founder of the brand new Unicorn Mural.
“My interest in technology was born as a consumer, because I was always caught up in new technologies, internet 2.0, now 3.0, I like to learn and it is something that I always consumed a lot, not only as a ‘gadget’ but also to read about the new ones follies of Elon Musk or Bezos with their space projects ”, commented Ginobilli.
Manu Ginobili in Córdoba
When asked by Infobae about the possibility of making new investments in national startups, Ginobili replied that in his eyes the country’s potential is enormous. “If you look at unicorns per million people, I don’t know if there are many countries ahead of Argentina – he analyzed – so there is talent, there is capacity, and also, we Argentines become experts in ‘dodging bullets’ and looking for options to adapt. to new measures, new realities, new crises and even new governments ”.
In fact, Emanuel Ginobili also participates as an investor in Pachama, a startup co-founded by Diego Sáez Gil from Tucumán and based in Silicon Valley that deals with the restoration of natural areas to counteract climate change, and “I also invested in a Bahia startup called Properix ”, as he explained.
Manu Ginobili is grateful to have time to take care of this facet of his life to which he could not dedicate time in the past due to the profession that catapulted him to world fame. “Since I retired I began to explore a little more, to contact certain people to advise me and connect with people who could benefit me, and thus I began to invest in some companies.”
“I think Newtopia marks an idea that I like, of what I want, I like to listen to them, there is a lot of talent in that team,” remarked who knew how to shine in the San Antonio Spurs. In addition to having a personal taste for new technologies, Ginobili believes that some of them will change our lives, so participating from the inside finds it especially valuable.
“I also diversify my capital, learn and at the same time help kids who are just starting out,” said Ginobili in reference to his role as an investor in Newtopia. In his words, this was a key factor in joining this group, although he does not rule out investing in already established companies such as the case of Ualá.
It should be remembered that Manu joined Ualá as an investor, the Argentine fintech that provides financial services to Latin America and that recently became the tenth company in the country to become a “unicorn”, a name given to technology companies whose market value exceeds USD 1 billion.
“I am closely following the growth of Ualá and I am excited to join as an investor in a company that is committed to financial inclusion in Argentina and now also in Mexico. I share the mission and the commitment, convinced that I will be able to add value to continue working for inclusion and financial education ”, said Ginobili at the time.
According to Ualá, the athlete is a “lover of new technologies” who has “a particular interest in joining high-impact innovative ventures. In this sense, the exponential growth of Ualá, added to its purpose of expanding access to financial services, have caught his attention ”.
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