NBA legend Magic Johnson shared his perspective on how professional athletes and entertainers should manage their business relationships, emphasizing that the people responsible for their finances should focus on generating income rather than participating in their spending.
Johnson explained that successful athletes and entertainers need a reliable team of professionals who can handle business opportunities while they concentrate on their careers.
Magic: “You got to get a team of people who can help you, that while you’re on the stage singing, they’re conducting business somewhere, right? They’re making deals for you.”
The former Los Angeles Lakers star also stressed that maintaining professional boundaries is important, noting that business advisers should not necessarily become part of an athlete’s personal social circle.
“And remember, these are not people you going to hang out with.”
During the conversation, Chris agreed with Johnson’s point, questioning why the individuals responsible for managing an athlete’s business affairs would be accompanying them to nightclubs instead of handling financial matters.
Chris: “And you know what? Nor do you need them in there. Because if they’re in the club next to you… Then who’s signing that check?”
Johnson responded by pointing out that when those same professionals join athletes in their nightlife activities, they may end up contributing to their expenses rather than helping them build wealth.
Magic: “They’re spending your check… They’re spending your money.”
