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Cuttino Mobley helping bring medical marijuana to Maine

Aug 5, 2011, 6:55 PM EDT

cuttino-mobley-clips Getty Images

Go ahead and make your “NBA player and pot” jokes, but when you read it you’ll see Cuttino Mobley looks like a pretty smart business man.

In part because there’s a lot of money in medical marijuana — even if it’s supposed to just be non-profit collectives — and he is helping bring it to new markets.

The Portland Press Herald was trying to trace back the money to finance several new pot dispensaries in Maine which has $1.6 million in financing, and the roads led back to Mobley.

The collective, according to documents, is comprised of The Farmacy Institute for Wellness of West Hollywood, Calif., and Cuttino Mobley, a former NBA and Maine Central Institute basketball player…

Northeast says the new money will help it open its first dispensary — in Thomaston — “within weeks.” The outfit holds the exclusive licenses to operate four of eight marijuana dispensaries in Maine, including three of the state’s largest markets: Portland, Bangor and Augusta.

Mobley basically cut the check and gets paid back at 8.5 percent interest plus consultation fees, according to other reports. That’s a good investment if you think the business has something people want to buy. And you know they do.

Mobley left the league with a heart condition and while he has talked of making a comeback that seems a long shot. At best. But it looks like he wouldn’t need to do it for the money.

  1. edweird0 - Aug 5, 2011 at 7:26 PM

    This is pretty awesome for the MM community. Good for him.

  2. cosanostra71 - Aug 5, 2011 at 7:28 PM

    I knew there was a reason why I liked Mobley

  3. goforthanddie - Aug 5, 2011 at 8:15 PM

    Smart man.

  4. drmonkeyarmy - Aug 5, 2011 at 11:23 PM

    Growing industry, smart move to get into it early. Business moves like this will really pay off in the years to comes. At this point it is inevitable that marijuana will be legalized within the next decade. Having an established marijuana dispensary will be like having a gold mine.

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