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Manu Ginobili: “Investing in sports in Argentina is not profitable”


Manu Ginobili: “Investing in sports in Argentina is not profitable”

The legendary gamer and entrepreneur Emanuel “Manu” Ginobili does not think it is a good idea to invest capital in national sports

In an interview in which he participated Infobae 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 – commented 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 NLS”, he stressed at an event in Córdoba in which a rebranding that the Renault firm is doing was announced.

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 former 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 former officials of the government of Mauricio Macri and the co-founder of the brand new Unicorn Mural.

“My interest in technology was born as a consumer, because new technologies always caught me, internet 2.0, now 3.0, I like to learn and it is something that I have always consumed a lot, not only as a ‘gadget’ but also to read about the new follies of Elon musk or Bezos with their space projects, ”commented Ginobilli.

Manu Ginobili: “Investing in sports in Argentina is not profitable”
Manu Ginobili in Córdoba

Manu Ginobilli appreciates having time to take care of this facet of his life that he was unable to dedicate time to 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, Ginobilli 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 Ginobilli 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 as an investor in Ualá, the Argentine fintech that provides financial services to Latin America and that recently became the 10th company in the country to become a “unicorn”, a name given to technology companies whose market value exceeds USD 1,000 million.

I closely follow 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 commitment, convinced that I will be able to add value to continue working for inclusion and financial education”Ginobili pointed out 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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