This isn't hoops-related, but it may be of interested to C-Webb fans:
http://sacramento.bizjournals.com/sacramento/stories/2004/10/04/story1.html
Webber suits up as developer
King floats local plans; breaks ground in Chicago
Kelly Johnson, Sacramento Business Journal, 10-1-04
Like former NBA stars Earvin "Magic" Johnson and Kevin Johnson before him, Sacramento King Chris Webber has ventured into commercial development.
Webber intends to unveil projects for the Sacramento area soon. His recently founded Maktub LLC broke ground in mid-September in Chicago on its first commercial development -- four luxury condominiums of about 2,200 square feet each.
And some locals in the Greater Sacramento development community, relaying information from potential investors who had been invited to Webber's house in Granite Bay, say the basketball player is tossing around ideas about possible local projects.
One project Webber has kicked around, said John Frisch, manager of Cornish & Carey Commercial/Oncor International's Sacramento office, was a 50-acre entertainment, retail and office complex near Arco Arena. However, "It's not what he's working on currently," said Erika Bjork, community development director for C. Webb Inc., his company.
Webber, who splits his time between Sacramento and Michigan, expects to release information regarding his development plans for the capital region and Detroit as they're confirmed in the near future, Bjork said.
Webber may also be considering projects in Placer County, Frisch said.
"He's always going to have his mind open to anything," Bjork said. "I wouldn't rule out any area or county, for that matter."
Making a 'positive difference': Webber, who is heading into the fourth year of his seven-year, $122.7 million contract with the Kings, founded Maktub this year with Chicago businessman Ghian Foreman. They're both Maktub managing partners.
Maktub is an investment and development firm focused on revitalization and commercial projects. Foreman was previously a business development manager for HSBC, Bjork said, in where he oversaw corporate partnership development.
They've embarked on commercial development to make a lasting difference, Webber said in a prepared statement announcing the Chicago project.
"This is the first of many development projects for Maktub LLC," Webber said. "Our company represents the passion and drive both Ghian Foreman and I have to bring jobs, revitalize neighborhoods and inspire other individuals and businesses to invest in the community.
"My successes in life may be known primarily for what I do on the basketball court," he said. "I hope through Maktub LLC, the Chris Webber Foundation and future development projects that I will be able to leave a more substantial and positive difference in the lives of others."
Yes, no, maybe so: Many current and former pro athletes get into real estate development, but more commonly they're investors in projects, preferring to stay in the background and are not actively involved in the decision-making, said Lisa Strohman, partner in Phoenix-based Premiere Consulting Strategies, which advises current and retired athletes on financial, professional and other issues.
Often their agents or financial advisers guide them into such projects. What Webber is doing -- having his own development company -- is more unusual, she said.
"He's got good people" helping him with his business ventures, added Strohman, who has met Webber.
Sacramentans are most familiar with the development activities of Kevin Johnson, retired from the Phoenix Suns. Johnson's development projects have focused on revitalizing Sacramento's Oak Park, the neighborhood where Johnson grew up.
Becoming an NBA star athlete is hard work and so is becoming a successful developer, Frisch said. It takes more than a big bank account and star power to succeed in development.
"I don't think he should be doing this," Frisch said. "Why is that? It's a lot harder than it appears to be. What his career is is challenging enough."
"Magic Johnson has done it," Frisch continued. "But he's almost as good a businessman as a basketball player. That's really unusual."
Magic Johnson and NBA legend Michael Jordan surely are role models, he said.
Successful developers need credibility and capital. "If he can bring both of those to the table, then he will be successful," Frisch said.
Still, he said, Webber knows his adopted town and Sacramento is growing. For those reasons, Frisch said, "I think this would be a great place for Chris to start if he can round up the investors."
Ups and downs: Webber's reputation in Sacramento and throughout the league has been rocky at times. He had faced trial on perjury charges in connection with a probe of improper donations in his college basketball days, but pleaded guilty in 2003 to a reduced charge of criminal contempt. In 1998 he was cleared of misdemeanor charges of possessing marijuana and resisting arrest during a traffic stop. Some Kings fans had hurt feelings when Webber threatened to leave Sacramento -- but that was before gaining in 2001 his seven-year, $122.7 million contract.
On the court, Webber is one of the NBA's best players.
Off the court, Webber has received NBA awards for community service. He set up the Chris Webber Foundation to provide community outreach in Sacramento and in his hometown of Detroit. He was named 2003 "Wish Maker of the Year" by the Sacramento Make-A-Wish Foundation and he's on the national advisory council for Make-A-Wish.
He also has a significant collection of African-American artifacts that he puts on public view at no charge.
In January, Webber became a partner in the Great Lakes Storm basketball team in Birch Run, Mich., with the Continental Basketball Association.
http://sacramento.bizjournals.com/sacramento/stories/2004/10/04/story1.html
Webber suits up as developer
King floats local plans; breaks ground in Chicago
Kelly Johnson, Sacramento Business Journal, 10-1-04
Like former NBA stars Earvin "Magic" Johnson and Kevin Johnson before him, Sacramento King Chris Webber has ventured into commercial development.
Webber intends to unveil projects for the Sacramento area soon. His recently founded Maktub LLC broke ground in mid-September in Chicago on its first commercial development -- four luxury condominiums of about 2,200 square feet each.
And some locals in the Greater Sacramento development community, relaying information from potential investors who had been invited to Webber's house in Granite Bay, say the basketball player is tossing around ideas about possible local projects.
One project Webber has kicked around, said John Frisch, manager of Cornish & Carey Commercial/Oncor International's Sacramento office, was a 50-acre entertainment, retail and office complex near Arco Arena. However, "It's not what he's working on currently," said Erika Bjork, community development director for C. Webb Inc., his company.
Webber, who splits his time between Sacramento and Michigan, expects to release information regarding his development plans for the capital region and Detroit as they're confirmed in the near future, Bjork said.
Webber may also be considering projects in Placer County, Frisch said.
"He's always going to have his mind open to anything," Bjork said. "I wouldn't rule out any area or county, for that matter."
Making a 'positive difference': Webber, who is heading into the fourth year of his seven-year, $122.7 million contract with the Kings, founded Maktub this year with Chicago businessman Ghian Foreman. They're both Maktub managing partners.
Maktub is an investment and development firm focused on revitalization and commercial projects. Foreman was previously a business development manager for HSBC, Bjork said, in where he oversaw corporate partnership development.
They've embarked on commercial development to make a lasting difference, Webber said in a prepared statement announcing the Chicago project.
"This is the first of many development projects for Maktub LLC," Webber said. "Our company represents the passion and drive both Ghian Foreman and I have to bring jobs, revitalize neighborhoods and inspire other individuals and businesses to invest in the community.
"My successes in life may be known primarily for what I do on the basketball court," he said. "I hope through Maktub LLC, the Chris Webber Foundation and future development projects that I will be able to leave a more substantial and positive difference in the lives of others."
Yes, no, maybe so: Many current and former pro athletes get into real estate development, but more commonly they're investors in projects, preferring to stay in the background and are not actively involved in the decision-making, said Lisa Strohman, partner in Phoenix-based Premiere Consulting Strategies, which advises current and retired athletes on financial, professional and other issues.
Often their agents or financial advisers guide them into such projects. What Webber is doing -- having his own development company -- is more unusual, she said.
"He's got good people" helping him with his business ventures, added Strohman, who has met Webber.
Sacramentans are most familiar with the development activities of Kevin Johnson, retired from the Phoenix Suns. Johnson's development projects have focused on revitalizing Sacramento's Oak Park, the neighborhood where Johnson grew up.
Becoming an NBA star athlete is hard work and so is becoming a successful developer, Frisch said. It takes more than a big bank account and star power to succeed in development.
"I don't think he should be doing this," Frisch said. "Why is that? It's a lot harder than it appears to be. What his career is is challenging enough."
"Magic Johnson has done it," Frisch continued. "But he's almost as good a businessman as a basketball player. That's really unusual."
Magic Johnson and NBA legend Michael Jordan surely are role models, he said.
Successful developers need credibility and capital. "If he can bring both of those to the table, then he will be successful," Frisch said.
Still, he said, Webber knows his adopted town and Sacramento is growing. For those reasons, Frisch said, "I think this would be a great place for Chris to start if he can round up the investors."
Ups and downs: Webber's reputation in Sacramento and throughout the league has been rocky at times. He had faced trial on perjury charges in connection with a probe of improper donations in his college basketball days, but pleaded guilty in 2003 to a reduced charge of criminal contempt. In 1998 he was cleared of misdemeanor charges of possessing marijuana and resisting arrest during a traffic stop. Some Kings fans had hurt feelings when Webber threatened to leave Sacramento -- but that was before gaining in 2001 his seven-year, $122.7 million contract.
On the court, Webber is one of the NBA's best players.
Off the court, Webber has received NBA awards for community service. He set up the Chris Webber Foundation to provide community outreach in Sacramento and in his hometown of Detroit. He was named 2003 "Wish Maker of the Year" by the Sacramento Make-A-Wish Foundation and he's on the national advisory council for Make-A-Wish.
He also has a significant collection of African-American artifacts that he puts on public view at no charge.
In January, Webber became a partner in the Great Lakes Storm basketball team in Birch Run, Mich., with the Continental Basketball Association.