Business

Yankees pitcher C.C. Sabathia’s best investment: Taking a chance on Topgolf

New York Yankees pitcher CC Sabathia in the dugout during a game between the New York Yankees and the Los Angeles Dodgers on August 25, 2019 at Dodger Stadium.

Brian Rothmuller | Icon Sportswire | Getty Images

As C.C. Sabathia walked off the field at Yankee Stadium after warming up before Game 4 of the American League Championship Series between the New York Yankees and Houston Astros, the baseball player’s mood was upbeat — and better than it would be at the end of the night.

The 39-year-old pitcher smiled, shook a few hands and revealed his next moves following his retirement from the MLB after 19 years at the conclusion of the season.

“Just trying to hang out with my kids,” Sabathia said Thursday night, right before the Yankees fell to the Astros, 8-3, and dropped into a 3-1 series hole. In a relief appearance, Sabathia threw a total of 20 pitches, with 11 strikes, in 0.2 innings before leaving the game with a left shoulder injury.

As he departed the field this time, Sabathia’s face was a bit covered from his glove, but the hurt was still visible knowing this could be the final contest of his career. And if so, Sabathia can depart the game he loves feeling more than confident about his financial future thanks to his on-the-field dominance that earned him more than $250 million over his career, according to Spotrac.

When asked by CNBC about his investments, Sabathia provided a few tips for the new generation of MLB players, starting with the best investment he’s made during his time with the league: Topgolf.

Sabathia said he owns a stake in the Dallas-based sports restaurant chain, which was founded in 2000 by twin brothers Steve and Dave Jolliffe.

A view of the exterior of TOPGOLF in Las Vegas, last April.

Bryan Steffy | Getty Images

Sabathia declined to say how much he invested in the private company, but he said he’s been pretty pleased with its performance.

The company, which operates 52 U.S. golfing centers, three in Britain and one in Australia, is reportedly talking to banks about going public next year, according to Reuters. The IPO would come as Topgolf seeks capital to open new venues in the United States, Britain, Mexico, Dubai and Canada.

Astros third baseman Alex Bregman, an aspiring investor himself, approved of Sabathia’s financial acumen.

“That’s awesome,” Bregman said, smiling. “C.C. is the man.”

Sabathia, who will end his career with over 250 wins — tied for 47th for most wins in MLB history — finished his final regular season going 5-8 and posting a 4.95 ERA in 23 games with 22 starts.

On investing, Sabathia advised young players to double-check and “triple-check” everything.

“Double-check. Have people looking at all of your investments. Try to diversify as much as you can and invest in things you like to be a part of,” he said, adding that it’s worked out for him.

Bregman, 25, signed a six-year, $100 million deal with the Astros earlier this year. He agreed with Sabathia, adding that hiring “extremely smart” people who are trustworthy can only help players with investment opportunities.

“Have multiple eyes look over everything to make sure you’re investing properly,” Bregman said. “I think investing is trial and error, and you’ll have your ups and downs, and you’ve got to learn from everything that you do.”

Products You May Like

Articles You May Like

Why It’s More Than A Day At The Park For Crow Holdings
T-Mobile is eyeing a price cut in its merger with Sprint, sources say
Instagrammers love this iconic spot, but there’s something they don’t want you to see
Fiat Chrysler, UAW reach new tentative labor deal
Work From Home? How About Work From Anywhere?

Leave a Reply

Your email address will not be published. Required fields are marked *