Penny Hardaway Scores Big with Booming Business Portfolio

The NBA great skyrockets from basketball superstar to flourishing entrepreneur and philanthropist

Although some assume the most notable of Anfernee “Penny” Hardaway’s post-NBA endeavors may be his widely popular Nike Foamposites, he says the development of the Bottom Line Sports Show has brought him back into the national spotlight. After his highly successful basketball career started to slow down because of injuries, which resulted in six knee surgeries, Penny began to think about businesses he could start that would keep him financially stable. Since retirement, the Olympic gold medalist has opened a high profile salon and barbershop in Memphis and a celebrity fitness center, Terf Athletic Facility, in Miami, as well as launching a shooting skills website, Pennyandtheshotdoctor.com. He’s also been an analyst on NBA TV and most recently became the Executive Producer of the Bottom Line Sports Show. More information on Penny’s latest projects can be found on his official website Iam1cent.com, which launched shortly before the 2012 NBA All-Star Weekend and his Orlando Homecoming.

By setting up multiple streams of income, Penny continues to build a diverse portfolio that will benefit him for years to come, and that others may learn from. BlackEnterprise.com had the opportunity to catch up with the avid golfer after he returned from Michael Jordan’s Annual Celebrity Golf Invitational and he spoke about his post-retirement success and why it’s never too late to go back to school.

The Foamposites are one of Nike’s top-selling shoes. What is your current involvement with the Foamposites and which pair is your personal favorite?

As I am still under contract with Nike, I am involved in the process through speaking to the guys that are building the shoes about what’s coming out next. They’ll show me some colors that have already been made and they’ll ask me what I like, what would I change, and what I would like to be added.

My favorite pair has to be the blue originals. When they first came out in the ’90s it was a shocker because that was before they even started making blue shoes. I also think the solid black and solid white colorways are pretty dope.

Some may be surprised at your post-NBA business portfolio. Which entrepreneurs, if any, do you look up to as business role models?

I have two people that I mainly look up to: Magic Johnson is one of them. He just blew everything out of the water. He didn’t make much money in basketball but since basketball has been over, he’s investing in the community and making a lot of money at the same time.

The next one I look up to is Sean Combs, who has always been a hustler. He never sleeps. He is always on the grind and I respect him for that. Let’s not take anything away from Russell Simmons or anybody like that but Puff just took those guys as his mentors and went harder.

You have several business projects, but you say that working with the Bottom Line Sports Show has really brought you back into the public eye. How did you start getting involved with the show?

It initially happened with them calling me and asking me for an interview. When I did the interview, it went so great; we could tell there was something that had to be built on. They called me back and asked if I wanted to be involved with the show. I accepted because it was the best interview I had ever had so I thought, “Man, this would be fun.” Later on, Gerald Brown, the show’s founder, asked me if I wanted to be an Executive Producer and I said sure. The show is growing, it’s a great show and it doesn’t degrade people, which I’m really proud of.

What do you see as the future of the show?

We are trying to do some big things with the Bottom Line Sports Show. It’s a matter of a few things happening the right way, getting the right look, the timing being perfect and once someone takes a chance on this show, I really believe it’s going blow up. We have all aspects that make a great show: the humor, the serious facts, knowledge, and more.

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  • Kevin

    I was a fan of his during his playing days at Memphis (now U. of Memphis), as well, his NBA playing career with Orlando. I am very much happy that his post-NBA career that he is having just as much success. Congrats, Mr. Anfernee Hardaway.

  • Tim Bankston

    Penny, I never followed you during your B Ball career! But I’m so happy your BEING ABOUT IT instead of just talking about it. You’ve got other young players looking! If only 1 out of 20 follow your lead you will have made QUITE AN IMPACT!

  • she

    i’m one of his fan during his b-ball career and i thank That God has open a new oppurtunity for him.keep it up and God bless u more abundantly above all that you can ever ask or think.

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  • C.WILLIAMS

    go big homie BBB

  • Willis

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  • thomas wesphaguson

    Penny was first right when he said that youre never too old to go back to school and learn. Second, its fascinating to read success stories of entrepreneurs who have an idea, researches his idea, plans, and executes, as clearly illustrated by the multifaceted small projects that Penny has built on, succeded and expanded to include other realms of business, and learnings.

    If players can be so constructive while they have the ability to make big money in their sports skills while the opportunities are in their hands, they can also do the intelligent job of planning for when the sports skills have expired.

    What have you done for me lately? Or more specifically, for yourself lately? Congratulations Penny Hardaway!

  • http://pulse.yahoo.com/_QQU4VKKCBL4NQG65JKFUCB7WJU Don

    I must say this is a welcome reprieve from constantly hearing about other black athletes who blow their fortunes.  I hope more black athletes follow you rlead.

  • Allen

    Few are like Penny. He is a gentleman in the highest order and has always put Memphis and his grandmother first. Memphis and the University of Memphis are extremely fortunate to call him Friend. Thanks, Penny, for all that you do for us.

  • Steve

    Remembering him on talk radio when he was just a junior in high school. How he handled hisself.. Us Tigers are very proud of this one..

  • Damien

    Lifelong Bulls fan, was in my teenage years during Penny’s prime in the NBA (Pre-injury), his injuries were tragic he had the potential to be one of the greatest of all-time. However, it is outstanding to see those injuries and his inability to find a NBA home or even a fraction of the athletic abilities he once pocessed, didn’t stop him from being very succesful in life. This is a wonderful story, great job Penny God Bless!

  • Walter

    Congrats Penny

  • Walter

    Congrats Penny, i’m so glad to see formal nba players or any ex professional player do well, hats off to Mr. Hardaway.

  • Mu1885cb

    Impressive….especially after reading about so many of the pro athletes financial downfalls!

  • http://www.facebook.com/people/Jerome-Yap/100002444668379 Jerome Yap

    I thought he would say “OBAMA” as his role model!

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