Luxury Asset Capital, a leading provider of alternative financing, today announced the formation of its Sports & Entertainment Group and that NBA legend Derek Fisher and leading media, entertainment and sports attorney Samuel “Sandy” Fox have joined the group.
Luxury Asset Capital is a private, family-office owned lender to high-net-worth individuals, wealthy families, and entrepreneurs in need of capital, unlocking the equity in a wide range of assets that are high in value but typically low in liquidity. Its Sports and Entertainment Group works exclusively with athletes, entertainers, and their trusted advisors to provide short term capital from approximately $50 thousand to $5 million in a few days using a professional athlete’s or entertainer’s luxury assets, guaranteed contracts, retirement accounts or pensions as collateral.
“Even individuals with substantial wealth and earnings face situations where easily gaining access to substantial amounts of short-term capital in a few days can be a major challenge, and we specialize in helping athletes and entertainers overcome that challenge,” said Dewey Burke, President and CEO of Luxury Asset Capital, and former University of North Carolina basketball player. “Derek Fisher and Sandy Fox are among the most knowledgeable people in the sports and entertainment world regarding the financial pressure professional athletes and entertainers face, and the most trusted. They are uniquely positioned to deliver the value of Luxury Asset Capital’s short-term liquidity solutions to the community of current and former athletes and entertainers that they know so well.”
The demands on the time, resources, and finances of athletes and entertainers are significant. Opportunities and challenges can arise at any time, and the funds required to handle them successfully may not be immediately available. Typical situations include financing luxury purchases, investments, relocation expenses, assisting family members with expenses, or unexpected expenses ranging from taxes to medical bills. The Luxury Asset Capital Sports & Entertainment Group makes it easy to obtain $50 thousand to $5 million or more within days through loans that typically range from 4-6 months but can be longer, until cash flow is restored or longer-term financing is arranged.
Derek Fisher, Executive Vice President of Luxury Asset Capital Sports & Entertainment, and one of the most respected figures in professional sports, a five time NBA champion player, NBA and WNBA head coach, player representative and head of the National Basketball Players Association (NBPA) stated: “I know firsthand the financial challenges and situations athletes face both during and after their careers, and how the need arises for a range of financial approaches to meet them. Many times over the past 20+ years I have seen current and former players either miss opportunities or endure hardships due to cash-flow problems that easily could have been avoided through Luxury Asset Capital. I joined the firm to help ensure that the professional athlete community is aware of financial alternatives that can really simplify their lives.”
Sandy Fox, Executive Vice President of Luxury Asset Capital Sports & Entertainment, and leading media, sports and entertainment attorney stated: “My entire career has been based on trust, service and the desire to do good, primarily working with talented entertainers and athletes that bring so much joy and excitement to us all. These are busy people, much more focused on their demanding professions than financial services options. In Luxury Asset Capital, Dewey and Derek I have found partners that align perfectly with how I advise my clients and lead my life. I am proud to work alongside them to bring this valuable capability to a special community.”