Tracy McGrady Always Wanted to Be an Owner

0:02Bloomberg Audio Studios, podcasts, radio, news. 18 years old, I'm a millionaire. I've never learned anything about finances, didn't know anything about being a professional basketball player. Everything that I've been learning at 18 years old to where I am to now is just me being aware of who I am, where I come from, and wanting to learn more about me.

0:31Welcome back to The Deal. I'm Jason Kelly. And I'm Alex Rodriguez. And coming up on today's show, Tracy McGrady. This is a legendary Hall of Fame basketball player, but a guy who has a lot in common with you. First of all, he's one of my favorite players of all time in the NBA. Just an incredible talent. As far as what we have in similarities, we're both from Florida. We both come from humble beginnings. And we're one of the few that went straight from high school into the pros. And now we're both part of team ownership. That's right. Owners, in your case, obviously in the NBA, in his case, the NFL.

1:03He came in as a minority investor in the Buffalo Bills. So we're seeing a lot of him in owner suites, but also seeing a lot of him on TV. We're going to get into that a lot more with TMAC here on The Deal.

1:21Tracy, what a treat to have you here in New York. We're going to get into everything you've done throughout your career, but I want to defer to my partner here for the first question because you guys have a lot in common. Yeah. T-Mac, great to have you here. Yes, sir. Now, who would have thought that two kids from Florida, right? Humble beginnings, straight out of high school to the pros. And just a few months ago, we were just kicking it in Davos. First of all, what'd you think of it? What'd you learn? And would you go back? So first off, it's a pleasure to be here with you guys. I'm a baseball head.

1:52Baseball is my first love. And this guy right here is one of my, one of my faves. So this is an honor for me. Davos. I didn't know anything about it. I've never heard about it. And when it was brought to my attention, it was like, yo, you got invited to go to Davos. I'm like, what the hell is that? What is that? But I looked it up and I was like, oh, this is big time. Like this is where I need to be. And I'm driving in, man. I've never been to Switzerland. I'm driving in. I'm just amazed of the scenic route, amazing scenery driving in, traffic is a little, you know, backed up a little bit. And I look to my left.

2:30It's like, yo, that's A-Raw. He's walking on the street right there. So he's the first person. So the reason why I was there, I spoke on this sports panel. And of course, you know, I have a lot of international relationships. I do a lot of travel into China, a lot of business that I do over there. But just having conversation with a lot of powers that be is how do we, you know, bridge that gap between, you know, U.S. and Asian market is what I was talking about. But it was it was an eye opener. I'm in the stage of like really learning business. Right. He said we come from humble beginnings. And that is very true for me.

3:12Everything that I've been learning at 18 years old to where I am to now is just me being aware of who I am, where I come from, and wanting to learn more about me every single day. So it's interesting. One of your, I think, signature deals of late is going in as minority owner of the Buffalo Bills. We talk about the NFL a lot on this show. Give us the origin story. How does that happen? And what are you thinking as you get into that? So I wanted to always, whether it was baseball, basketball, football, I wanted to be an owner of some sort. That opportunity presented itself because I wanted to have some ownership in the Tampa Bay Buccaneers because it's hometown team right there.

3:53Got to the table, got a call about Atlanta Falcons. They were too far along, I think. That was like Dominique Diles and Will Packer, I think, was in that deal. So they were too far along the line. And then Buffalo Bills came up. And you probably asked, why Buffalo? Well, I played three years in Toronto, right? The Toronto borders right there. And when I was playing in 97 to 2000, you know, Bruce Smith, Thurman Thomas, all those boys used to show up to our games in Toronto. So going back over the years, I've always invested in other people's ideas and ideologies and things that they wanted to do.

4:34This is a time where I was like, let me call my cousin and see if he has any interest in going in this deal with me. So I called Vince and like, yo. This is Vince Carter. This is Vince Carter. So I called him. I was like, yo, you have any interest in being a NFL owner? what? Like, what? Yeah. So right away he was like, I'm in, you know, what we got to do. So we made some calls. We went to a game and after the game, we sat with Terry, right? Terry Pagula. And this is like, I'm thinking we are auditioning and I got to be on my best behavior and really sell this guy that I really want to be a part of this, this ownership group.

5:19But we just casually had a conversation, man, after the game, sitting in his office and just chopping it up for about an hour. And from that conversation, he was like, you want to be a part of this? Well, of course. Absolutely. That's why you're here. Right. And it happened just like that. So let's take it right from there. So I love the story. I love how you were proactive and called your cousin Vince. I love how you went to a Bills game. That's really how deals are done, right? My question is, once you finish that conversation and you get home and reality hits, and you know you got to write a big, big check, because the first time, T, that I wrote a big check, I couldn't sleep for a week, right?

5:58When I used to writing those type of checks. Walk me a little bit through that conversation and how nervous were you when you had to write that check and actually release your bank accounts? So I would say this. I wasn't nervous about it because I had put in the work, right? I think my excitement was just overshadowed of what the check was that I was writing. I'm part owner of this franchise. And my mind went to, it's not just, you know, I write this check and then I sit back and the bills do their thing, the value of this, this, this franchise goes up. No, there are people that involved in this that I actually can have some conversations with and actually prolong or further and improve my portfolio because of what these guys have.

6:43The check, it was big, but I wasn't like, I was too excited. I really was. I was like, man, I cannot believe this is happening because there's not a lot of guys look like me that is part of those groups. And so to that point, do you think people look at you differently because you're an owner? I don't give a damn. I mean, I don't know. I don't care whether they do or they don't. I guess maybe ask in a different way. Has that come to fruition that you feel like you are able to go into different rooms because you're an owner? Sure. For sure. For sure. Because everyone knows how difficult that is.

7:25Right. And just anybody, I don't care how great you were on the basketball court or how great you are on the field. Like just anybody can't get that opportunity. Right. So, yeah, I'm looked at differently, can walk in different doors and those doors are steady opening up. I mean, you've seen that. Yeah, there's no question. I mean, everything that T says, I've said in some interviewer, I feel the same gratitude and the doors open up like wildfire. I guess my follow-up question on that is you talked about some of the benefits from being an owner and from being an LP to the Buffalo Bills. What are some of the lessons you've learned from being in that room?

8:02That's a good question. I guess certain individuals that's involved in this, certain people are difficult to deal with. But then you run into those people like I ran into one of our owners, All Star Weekend. She was actually one of the owners that went in with the group that we went in with. And I was having some conversations with her. And I could not believe how generous this lady was in terms of wanting to help me in my business endeavors in any capacity of which I needed her. Like she was like, here, whatever you need from me. And that was just so refreshing. And I just felt the genuineness of that.

8:47But then you run into some people like, why are you like that? And I'll tell you another thing, too. I won't say any name, but I was at the game where there was another group that he brought several groups that were trying to come in and be the minority partner. So we're in the suite and I'm quiet as a mouse watching the game, but there's another partner in there just loud and obnoxious and just going crazy. And I'm sitting back. I was like, I know damn well they're not going to allow this guy. No way. No way. Because, yeah, no way because of what he was portraying in that moment. Right. There wasn't a person of being humble and just really understanding the situation.

9:36So he ended up not getting in, being part of that group. And I saw that and I was like, damn, it don't matter how much money you have. Like, you've got to be solid, a solid dude, a solid person to be a part of this group.

9:55Support comes from Amazon Business. Streamlining workflows is key to keeping any organization running smoothly. That's why smart leaders turn to AI-powered procurement. With smart business buying, you can simplify workflows, automate repetitive tasks, and keep your team aligned. Equip your organization with intelligent tools, unmatched selections, and fast, reliable delivery, so you can focus on what matters most. Learn how to transform purchasing at AmazonBusiness.com.

10:29Jason, I find that to be really interesting what TMAC just said, because one of the lessons that I've learned sometimes from being in those rooms and those boardrooms that you're just like, look around, you're like, what am I doing here? I cannot believe. But sometimes more than learning what to do is sometimes you learn what not to do. That's it. And those lessons like stay with us forever. That's it. And that was that lesson for me because that was that night when I don't even know if I'm going to be a part of this group, but I know I can't be acting like that. And when we got the call that we got in and that person then I was like, okay, that was the lesson for me.

11:08So tell us about Vince. What a relationship you guys have had playing together now business partners. What's the dynamic there? Help us understand that. Yeah. So we discovered when we was cousin when I got drafted in high school. Two years, we played together in Toronto, formed a great bond. And then just over the years, just having those conversations, just really picking up. We both have families. We talk about everything. When he calls me, I have to carve out two hours. Or I have to let him know, hey, cuz, I only got 15 minutes. Get it in. And how often does he call you? We would talk probably about twice a week like that.

11:46Seriously. And that's why we started a podcast because I'm like, bro, we doing all this talking. That is how this tends to happen. It is how it tends to happen. So, like I said, me, I'm always business driven. What's the next challenge? I'm always looking for the next challenge. Never thought I'd be doing TV. NBC opportunity comes up, right? So we're both on NBC. Yeah. And I'm like, cuz this is for us to capitalize off of this energy and everything that's happening for us. So it's like Buffalo Bills. I call him. I told you I invested in a lot of people, others ideas, but it's now it's like I'm taking my own chances and doing this with my family.

12:31So it's been, man, that one of the greatest things, decisions that I've made to actually just, you know, be involved with my cousin and take this ride with him. Yeah, T, you're lucky because you found a cousin like Vince. Yeah. I'm Dominican. I find cousins all the time. That I never want to invite to Thanksgiving. I'm just telling you about one shit. I found a million dollars. I saw you guys this past Sunday, and I'm such a big fan of that show. You guys are killing it. Appreciate it. First of all, you guys look good. You sound good. Carmelo's great. Yeah. Maria's a star. Yeah, she is. So this is the NBA on NBC.

13:05Pre and post game, right? And I love how you guys go on location, which is kind of cool. First of all, you enjoying it? I never thought I would do TV. And with the NBC, it was like, man, this is like the golden era. This is what I grew up on. Right. In the 90s, right? When I fell in love with basketball, this like watching NBC back in the day what made me want to be a basketball player. And I played on NBC. So that nostalgia feeling just coming back. And now I get to talk about the game that actually raised me. Oh, it was just, it was awesome. It was a no-brainer for me to be on that show. I'm the oldest here, but we all loved basketball in that era.

13:46What did that era do for the business of basketball in your estimation? Well, I would say when you look at Michael Jordan, what he was able to do for the sport, for us players in terms of what he did off the court, right? With Jordan Brand selling sneakers. I became an Adidas athlete. I was able to sell me some sneakers, the global imprint that he has selling sneakers over in China like Magic Bird. And Mike, like opened up this whole global portal for us to be able to walk through and capitalize off of that. I'm going to tell you what it did for it because I was going to China back in like 19.

14:28My first trip to China was probably 1998, 1999. Whoa. Yeah. I started early. and there wasn't a lot of basketball being played in China at that time. You know, I just seen the trajectory of that sport just trending up. And now you're talking about over 350, 400 million people are playing basketball in China. Right. So that's the evolution of basketball. And I was part of the team, a group that played with the Houston Rockets and the Sacramento Kings opened up the China game. So it was part of the first global China games in 2004. Because you were teammates with Yao. Yeah, yeah. I mean, so that must have been incredibly eye-opening from an economic opportunity perspective.

15:10I'm still capitalizing off of it. Really? Absolutely, man. Yeah, I was, you know, I mean, we talk about having a whole freaking continent on your back and carrying that. Yeah. T, I want to go back to, you mentioned Michael Jordan, Kobe Bryant. Did you ever have conversations with Michael or Kobe that helped you out? And if so, what did they tell you? So I had conversations with Col. Col was like my brother because he came out a year early before me out of high school like us. And I was struggling my rookie year. Col struggled his rookie year because Dale Harris, for some reason, they wanted to make it hard on the high school kid.

15:49Right. So he went through it. Then I go through it. And it was a time where I was like, man, I got I have to talk to someone that actually has been through this. Let me call my brother Col. So we had extensive conversations, you know, just staying, you know, trust the work, Mac, trust the work. It's going to pay off. You know who you are. And just having those conversations got me through a really challenging rookie year. I can remember, man, I get to Orlando. Colbe is winning championships at this time. I'm coming up now in the league. So they're talking, you know, trying to compare it to who's the best wing and my name is coming in there.

16:27And, you know, if you know anything about Kobe, Kobe doesn't want anybody compared to him at this time. So that right there, I know him. I get it. But that's where I come in as like I'm built that way, too, just a different way. Turned it on a little bit. Absolutely. Yeah. Absolutely. Jason, can I give you my Kobe story? Please. There was a time I was struggling. And I remember driving to the Bronx from my west side apartment. and phone rings is Kobe and Kobe's like hey man don't read the press don't let them get to you stay with your game same kind of advice and then he ends the conversation by saying like I see you're one for 15 I've been studying your film I'm like okay wait where's this going at Kobe he goes your front foot you know you're bailing a little bit and you're back I said Kobe I gotta go alright alright I'll see you next week

17:22Get the news you need in just 15 minutes. Start your day with Bloomberg Daybreak, the podcast with a global view on the stories that matter. I'm Nathan Hager. And I'm Karen Moscow. Join us each morning for curated stories on current events, politics, business, and foreign relations. Plus one conversation on the day's biggest developments, all in just 15 minutes. Subscribe to Bloomberg Daybreak for a precise, thoughtful take on the stories that matter. Listen to Bloomberg Daybreak each morning on Apple, Spotify, or anywhere you listen.

17:56All right, let's talk about the ones, the OBL, Ones Basketball League. It's back. My understanding is you sort of convened a group at your house and were like, over dinner, it's not dead. We're doing it. Give us the state of play for OBL, and then we're going to do a little pitch session here. Go ahead. So OBL came from, it was all a dream. Sonny Vaccaro started ABCD camp in Teaneck, New Jersey. Yeah. Kevin Garnett, Kobe Bryant, Tim Thomas, Trace McGrady, LeBron James, like all the greats. And I was an unknown basketball player like my junior year, only known within my region in Florida. Outside of that, no one knew who I was.

18:40After my junior year, I get invited to this camp. I'm the last guy invited. I keep hearing about Lamar Odom. So I go to this camp and he's the first player I play. And I held my own. So throughout this camp, I'm holding my own, right? Unknown basketball player. Who's this kid from Florida? Well, I leave that camp and a month later, I'm the number one player in the country. So I went from unknown to the number one player in the country. Now it talks about, damn, this kid is actually good. Kobe Bryant just came out the year before him. Kevin Garnett came out the year before him. So now that talk about being a draftee in the 1997 draft straight out of high school.

19:20That platform did it for me. I'm creating this OBL platform for those guys that still have a deep love and passion for the game of basketball. And my proof of concept trial was I went to six cities. I'll invite 32 players and I'll take eight players, the best players, to Sunday for the championship and have them play one on one. Winner takes all. So now after that season, I'm going on a capital run trying to raise money for my league because I'm getting good feedback. And I think I've created something magical. Well, I struck out. I struck out. And I'm glad that it went that way because I've learned a lot on that journey.

20:01Right. Everybody is not going to believe in your vision, right? Everybody is not going to be able to see your vision and what you're trying to create. I get that. So I believe in me. Let me do it something different. Like, yo, I have a gym at my house. I'm going to bring everybody in. Let's capture this content. Let's keep OBL fresh. And from that point, man, I think that was probably the best decision because I had NextGen Sports. It was an investment group. They saw what I was doing. and they came in and loved the vision. They started AVP, which is a volleyball league, right? And they know how to run a league, alternative league.

20:42And also they're part of the big three team, 305, that won the championship. So they know how to manage a team. So for me, it was just like the perfect partner that came in. And when he came in, we talked, or when they came in, we talked about doing something different than what I did at my house versus what I did back in 22. Let me start cities. Let me start a battle of the cities. Let me create teams so I could build some value up and create opportunities for some of my friends or influencers in these respectful cities and give them ownership of these teams. So I have Jadakas, right? We all know who Jadakas is.

21:25He's from Yonkers. So I gave him the New York team. He has 15 % in his New York team. Lorenz Tate is my good buddy who's a big-time actor from Chicago. He has the Chicago team. John Walls from Raleigh, North Carolina gave him the Raleigh team. Tim Hardaway Sr. has the Miami team. So I'm starting out with eight teams and giving these respectful GMs slash owners 15 % in ownership and also allowing them to manage their teams. And, you know, we're having trials. Like, we're building a real league. Like, this is not a gimmick. This is a real thing. So I'm pretty, you know, excited about the opportunity and where this is going.

22:06And I'm already getting calls from my partners in China. They want me to bring it over there. Australia is calling. So global is where we want to take it because there's a lot of talent. When you look around now, I mean, you have, you know, all of these kids around the world are trying to mimic us. You look on social media now, you'll see a Chinese kid looking like, you know, SGA out there playing basketball. So I just think globally is where we want to go with it. And it sounds like content was the real unlock. Yes, sir. Yes, sir. Yeah. Interesting. All right. So we're going to wrap this up with our rapid fire.

22:38This is going to be a good one. Let's do it. Really good questions. All right. So just, you know, first thing that comes to your mind, if you had to pick one to play for the rest of your life, one on one or five on five? For the rest of my life? Yeah. One on one. build your dream OBL roster with NBA players from any era who would you pick oh that's easy myself Kobe and KD oh wow I would not want to play against that team all right which current NBA player would win a league-wide one-on-one tournament KD KD KD best one-on-one basketball city new york who's your dream obl investment partner i have him next gen sports all right at a-rod what team do you want to see win a championship more than anything it's supposed to be rapid fire but he stuck me on that one uh should be easy for you no not really because i played for three franchises i i that i did to my heart but i'll say orlando magic Any sport.

23:38Oh, any sport. Oh, Buffalo Bill. There you go. There you go. There you go. I didn't know it was any sport. All the money, baby. Listen, Buffalo Bill, that's probably a better bet than the Orlando Magic, unfortunately. I was confused why he wasn't saying it. I did hear any sport. Yeah, there you go. Any sport. Well, T-Mac, this has been amazing. As we got into this even more, the parallels between you guys are really incredible, especially the move from, you know, Florida going pro ownership, all of those things. And T, let me tell you, like, I followed your career from day one, just like Kevin Garnett, right?

24:15Because it was very rare for guys to basically go from high school to the pros, right? And we were part of a small fraternity, Kobe being another one. But you mentioned comport yourself in a classy way. That's what I've admired the most. Obviously, your world is Hall of Fame and one of the elites of all time. But the way you comport yourself with your wife, your four kids, the way you run your business, you're killing it on NBC. So just keep killing it. God bless, man. Man, I appreciate it. That means a lot, man. Thank you.

24:44The Deal is a production from Bloomberg Podcasts and Bloomberg Originals. The Deal is hosted by Alex Rodriguez and me, Jason Kelly. Shows produced by Alexis Haught, Stacey Wong, and Anna Mazarakis. Original music and engineering by Blake Maples. Booking by Paige Keffer. Our managing editor is David Rivella. Our executive producers are Jason Kelly, Amy Keene, Neville Gillette, Trey Shallowhorn, Regina DeLea, Kelly Laferriere, and Ashley Zingaro. Special thanks to Rachel Carnevale, Elena Saus Angeles, and Nick Silva. You can also watch The Deal on Bloomberg Originals, YouTube, and Bloomberg Television.

25:22And please subscribe to The Deal wherever you get your podcasts. Thanks so much for listening. On June 10th, Bloomberg Invest is back in Hong Kong. We look at the role Hong Kong plays between China and the world as major powers compete and markets realign. As global investors rethink risk, we'll explore the forces driving Asian demand and the future of private capital. Catch exclusive interviews with top newsmakers, plus a live recording of Bloomberg's Odd Lots podcast. Visit BloombergLive.com forward slash InvestHongKong to learn more. Supporting sponsor, Deutsche Bank.