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.
- Lakers unlikely to sign and trade Dwight Howard to the Clippers, Rockets, or anyone else (81)
- LeBron James: “I just have to play better” (77)
- Heat’s Big Three dominate Game 4 to even the Finals at two games apiece (74)
- Report: Clippers, Celtics talks to send Garnett, Rivers to L.A. stalled (72)
- Reports: Jason Kidd finalizes deal, will be Nets new coach (62)
- Can Heat focus enough to avoid elimination?
- CSN: Bruins' defense never rests in Game 3 win
- CSN: Celtics-Clippers KG, Rivers trade talks dead
- PFT: Freed Johnson wants second chance in NFL
- PBT: Judges rules Iverson did not kidnap children
- PFT: Rodgers says Packers' moves a 'wake-up call'
- PFT: Beckham turned down chance to kick in NFL
- Play Video: PBT Extra: LeBron's legacy at stake, Duncan's safe
- Play Video: Clippers, Celtics discussions 'can't be wrong'
- Play Video: Elliot looks ahead to Game 6
- Play Video: The Hype: How much would you pay to punch someone?
- Play Video: If Heat lose, 'all hell will break loose'
- Play Video: Green breaks NBA finals 3-point record