In June, Josh Hart won an NBA Championship with the Knicks. Five months later, he’s become an investor in a professional basketball team.
Hart has invested in Italian club Napoli Basketball, which currently plays in Italy’s top division and next year has been approved to play in EuroLeague and could have the opportunity to join NBA Europe.
Both Hart and Matt Hillman, co-host of the Jalen Brunson – Josh Hart led Roommates podcast, invested in the club and will serve on the board.
Napoli is owned by Underdog Global Partners, which is owned by Matt Rizzetta. The company also owns other Italian teams including soccer team Campobasso, women’s soccer team Donna Roma and Napoli Women’s Basketball, which is the sister team to Napoli Basketball.
Rizzetta told Front Office Sports that Hart and Hillman invested in both the men’s and women’s basketball team and “the planned new arena being built near the Amalfi Coast,” which will meet the standards of both NBA Europe and EuroLeague.
He also mentioned why Hart was the perfect investor for the teams.
“Josh is an underdog guy,” Rizzetta told FOS. “He’s a champion who is a rags to riches story. And the New York to Naples connection is really important to us.”
He also mentioned this isn’t a short term investment, a sentiment echoed in a statement by Hart, who said that Napoli “reminds me of what we have built with the Knicks in many ways.”
“It is a project built around hard work, big dreams and the incredible passion Napoli fans have for their team,” said Hart.
Both men have a vision for the future, which includes a new arena and possible entry into the two aforementioned leagues, and that’s why the energy between the new partners felt right.
“We’re going to have to raise our game next year,” said Rizzetta. “We have to be prepared to be an elite club. That includes stuff like player recruiting and scouting, and Josh will be involved in that in some capacity.”
“Sports as an asset class has always been exciting to me because of the unique position I am in to impact the growth of the business, but I have been waiting for the right opportunity,” Josh Hart told Boardroom. “European basketball has both a rich history and an incredible opportunity ahead. I look forward to helping to take the club to the next level.”
