Aug 5, 2011, 6:55 PM EDT
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.
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