Basketball Tourism Opportunity

Shaan and Sam discuss the potential of turning Michael Jordan's unsold mansion into a profitable venture, highlighting the intersection of sports tourism, real estate, and modern museum experiences.

• Michael Jordan's House Background:

  • 56,000 square foot home in Highland Park, Illinois
  • Listed for $29M originally, now reduced to ~$13-14M
  • Has been on market for nearly a decade
  • Features custom elements like:
    • Indoor basketball court
    • Number 23 gate emblem
    • Custom closets for Air Jordan collection

• Current Market Problems:

  • Too customized for typical buyers
  • Expensive for the area
  • High property taxes
  • Difficult to sell as traditional real estate

• Proposed Business Model:

  • Crowdfunding Approach:
    • 5,000 people contributing $2,500 each
    • Makes story more viral than traditional investing
    • Creates built-in evangelists and visitors
  • Museum Concept:
    • Modern, photo-based experience like Museum of Ice Cream
    • Instagram-worthy photo opportunities throughout
    • Potential to generate $5-10M annually
    • Could store/display rare sports memorabilia
  • Tourism Opportunity:
    • Basketball Hall of Fame currently "sucks"
    • Other sports halls (like NFL's Canton) are successful tourist destinations
    • Gap in market for premium basketball tourist experience

• Alternative Revenue Models Discussed:

  • High-end Airbnb ($3,000+ per night)
  • Bachelor party destination
  • Sports fan experience venue
  • Collectible fractional ownership (like Rally platform)

The speakers believe this could be one of their better business ideas, combining sports history, modern tourism trends, and innovative funding methods.