Carmelo Anthony Joins Ownership Group of Australia’s National Basketball League, Promotes Next Stars Program

Carmelo Anthony, a 10-time NBA All-Star and former professional basketball player, has expanded his business portfolio by becoming an owner in Australia’s National Basketball League (NBL). In addition to owning a future expansion team, Anthony will also serve as the global ambassador for the NBL’s Next Stars program. The financial details of the partnership have not been disclosed, and it is uncertain which expansion team Anthony will own.

Anthony, who recently turned 40, has been actively involved in various entrepreneurial ventures since retiring from the NBA after a 19-season career. He has teamed up with Isos7 to launch a private equity firm and a cannabis-focused agency, among other business endeavors.

By joining the ownership group of an NBL team, Anthony will help promote the league and its Next Stars program as a pathway for top basketball prospects to reach the NBA. Many former and current NBA players have also invested in NBL teams. The league has gained recognition for its ability to develop young talent and provide opportunities for players to showcase their skills.

The NBL’s Next Stars program has seen success in producing NBA prospects, with players like LaMelo Ball and Josh Giddey making their mark in the league. Recently, French star Alex Sarr has emerged as a top prospect in the 2024 NBA draft, adding to the program’s reputation for grooming future basketball stars. Larry Kestelman, president of the NBL, oversees the league’s operations.