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Andre Iguodala says Warriors locker room talk about investing; he discusses money, wealth

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What is most NBA locker room talk like? Exactly what you think most talk is about with 20-something men: there’s plenty of trash talk, with other topics being women, cars, Fortnite, clothes, and, occasionally, their jobs.

However, things can be a little different in the Golden State Warriors locker room, as Andre Iguodala told Wealthsimple in an exclusive interview.

A number of my Warriors teammates — Stephen Curry, Draymond Green, JaVale McGee — are into investing and tech. But we never look at it as a competition. We inform each other of what’s going on. We have a lot of conversations. I learn something from all of those guys. Steph was having a conversation about net neutrality one day, and I wasn’t as caught up on it. He got started on it, and I was locked in, because he did his homework!

“That’s our locker room talk. We have free agents come to our team, and the first day the guy is walking in like, “What do you know about this business?”

We know the pro athlete stereotype: An alpha male making and spending a lot of money who will be broke three years after he is out of the league — and some players live up to that stereotype. However, there are a lot of players who are smart about their money. Players, especially ones who stick in the league longer than a handful of seasons, start to think long-term about how they can set up not just themselves but their children and grandchildren with the money they earn.

Iguodala is one of those guys. In this interview for the Website of the investing tool WealthSimple, Iguodala talks about the evolution of his thinking about money, wealth, and responsibility.

“I wasn’t thinking about all the money, the cars, jewelry (when he came into the league). I’d never seen that before, so I wasn’t looking for it. My first contract was for four years, $9 million. I think the fourth year was a team option, so if you don’t improve over the first three years, then they can cut you — so, really, three years, $7 million. You get an advance over the summer, and just before the draft, you get an advance for trading cards and an advance for a shoe contract. I remember a loan agency floating me until I got the advances. They sent me a check for $25,000. I think I just went to Niketown and bought a whole bunch of pairs of Jordans. I spent like two or three grand and it felt like I spent a million dollars. I didn’t know how to spend money. And it was so early that there wasn’t enough money to go buy a car, you know? I was happy where I was at….

“I had a few veterans who were really smart with their money (who were mentors). I mean, they had nice contracts, but in the scheme of the NBA, they were on the lower end. I asked a lot of questions, and they got me into good habits early. I think it’s always important for young athletes to position themselves with the veterans who are professionally and financially savvy.

“One of my favorite conversations was with Elton Brand, who had two or three max contracts. He talked about black wealth. He talked about Oprah’s situation, Will Smith — African Americans who created a lot of wealth. There aren’t too many of us. There are only 23 billionaires that are African Americans. It wasn’t like he was trying to teach me a lesson: Make sure you do this, make sure you do that. It was more like: You know how hard it is to have wealth. Period. And then how hard it is to be African American with wealth?

A lot of players see that as a responsibility — to take advantage of their financial opportunity (and to give back to the community).

The interview is worth reading and includes Iguodala’s business partner Rudy Cline-Thomas, who talks about their investing strategy and how they don’t go targeting basketball-related ventures or things where Iguodala is the pitchman. The goal is much bigger than that. They look for certain kinds of start-ups, knowing that there will be misses but also hits that really pay off. It’s a process.

And it’s something more and more players take seriously.

Report: Lakers eager to use LeBron James at center flanked by top four young players

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Why did the Lakers, after securing LeBron James, sign Rajon Rondo and Lance Stephenson? Their explanation leaves plenty to be desired.

What will the Lakers do with Lonzo Ball, Josh Hart, Brandon Ingram and Kyle Kuzma now that none of those four are being traded for Kawhi Leonard? Their plan there is far more intriguing.

Eric Pincus of Bleacher Report:

“We may not see this on day one, but the coaching staff is eager to see our version of the [Warriors’] Death Lineup with Lonzo [Ball], Josh Hart, Brandon Ingram, [Kyle] Kuzma and LeBron,” a second Lakers executive said.

LeBron at center is a dangerous weapon. The Cavaliers showed it more during the 2017 playoffs – to positive effect.

But LeBron isn’t Draymond Green, who makes Golden State’s Death/Hamptons Five Lineup function. Green possesses a unique combination of rim protection and – through his ball-handling and especially passing – ability to get into offense quickly. LeBron isn’t as good at protecting the paint, and though he’s lethal in transition when he wants to be, he’ll be fighting years of slow-down habits.

I also wonder how much LeBron embraces the physical toll of playing center. The Lakers have only JaVale McGee, Ivica Zubac and Mo Wagner at the position. Are they banking on LeBron playing there a significant amount during the regular season?

LeBron would likely accept the role more enthusiastically in the playoffs. But Ball, Hart, Ingram and Kuzma will be tested – at least initially – by the heightened level of play. I’d be wary of overly relying on that lineup.

But this is the best way for the Lakers to get talent on the floor and overcome spacing concerns. I’m absolutely excited to see it in action. Whatever concerns I have about it are only multiplied with other potential Lakers lineups.

Report: Nuggets lottery pick Michael Porter Jr. undergoes another back surgery

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Michael Porter Jr. underwent back surgery in November, missed nearly his entire freshman season at Missouri then slipped to No. 14 in the draft amid injury concerns.

The Nuggets have been noncommittal about their plans for Porter, but they’ve given an eyebrow-raising update.

Nuggets release:

Michael Porter Jr. has undergone surgery of the lumbar spine at The Carrell Clinic in Dallas, Tex. The Procedure was performed by Dr. Andrew Dossett. There is no timetable for his return to basketball participation.

Porter is a talented forward with the length and skill to make a major impact as a scorer.

But, as this latest surgery underscores, drafting him carried terrifying risk. Denver will have to bear that for a while.

Report: Dirk Nowitzki to re-sign with Mavericks for $5 million

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Dirk Nowitzki is set to play his 20th season – breaking Kobe Bryant’s record for most seasons with a single franchise and tying Kevin Garnett, Robert Parish and Kevin Willis for most seasons in the NBA.

Shams Charania of Yahoo Sports:

The Mavericks declined Nowitzki’s $5 million team option, but he was never signing elsewhere. He was either going to retire or play for Dallas.

Once he decided to return, the only question was money.

The Mavericks declined Nowitzki’s option to maximize their flexibility for upgrades, namely signing DeAndre Jordan. Once Yogi Ferrell agreed to an absurdly team-friendly contract, Dallas had enough cap space left to give Nowitzki his team-option amount. If necessary, he would have taken the $4,449,000 room exception.

Nowitzki has had a great career, and this could be his farewell tour. But he also remains a helpful rotation-level player. Though he’s a defensive liability, his outside shooting as a big goes a long way toward floor spacing.

Report: Mavericks re-signing Yogi Ferrell for less than qualifying-offer salary with second year unguaranteed

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The Mavericks expected Yogi Ferrell to accept his qualifying offer.

Turns out, they’ll keep him on an even more team-friendly deal than the one he could have unilaterally signed.

Shams Charania of Yahoo Sports:

This is an awful deal for Ferrell.

As reported, he’ll earn between $2,548,077 and $2,760,417 next season. That range is less than his qualifying offer – which would have paid him a fully guaranteed $2,919,204 next season.

That reduction is acceptable if Ferrell got something in exchange – but he gave Dallas the concession by adding an unguaranteed second year. If he plays well, the Mavericks will keep him at a cheap salary. If he doesn’t, they’ll waive him for no cost. They have all the control.

The promise of the backup shooting guard job is probably just lip service. Teams don’t stick by that if the player struggles. If he produces, he would have gotten the job anyway.

Dallas has plenty of point guard types – Dennis Smith Jr., Luka Doncic, J.J Barea, Jalen Brunson and Ferrell. Rick Carlisle uses two of them simultaneously often enough that Ferrell should land in the rotation. But it’s far from a lock.

With this deal, Ferrell is taking all the risk and the Mavericks are getting all the upside.