NFL player LeSean McCoy wants to build a real estate empire using opportunity zones

Lesean McCoy runs
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National Football League running back LeSean McCoy admitted he had no clue how to handle finances earlier in his career. McCoy didn’t know how to make money from his large NFL paychecks, and saving wasn’t an option, either.

“Now being in my 12th year in the league, looking at all the investments I’ve made from the good to the bad, I think I’ve learned,” McCoy told CNBC.

It’s National Financial Literacy Month, and McCoy says he’s more motivated to further “generate finances not only for myself but also for my family.”

Months after getting his second Super Bowl ring, as McCoy was on the Tampa Bay Buccaneers roster, the 32-year-old player is using the offseason downtime to finish real estate developments. McCoy and his brother LeRon operate real estate firm Vice Capital. With McCoy’s playing days almost over, he’s using the real estate investment route to continue building wealth post-NFL.

“We’re still starting up, but that is the main goal,” said LeSean. He added another mission is to help NFL players learn “how to make money other than just playing football.”

Using the Opportunity Zones

Vice Capital invests in distressed properties in lower-income communities, renovating buildings to create new housing units and commercial space.

The McCoy brothers use opportunity zones to develop some properties. The areas were created as part of the federal Tax Cuts and Jobs Act of 2017 and provide developers capital gains tax incentives. They’re designed to direct investment to under-developed sections of cities and help increase neighborhood values without triggering a rise in rent that would drive residents out of the rebuilt communities.

LeSean’s brother told him about the zones in 2017. But LeSean said he was skeptical when he learned the legislation was passed under President Donald Trump’s administration. “Who is this really for?” he asked his brother.

Before it became official, the legislation was supported by U.S. senators including Sen. Cory Booker, (D-NJ) and Sen. Tim Scott, (R-SC). After researching legislation and identifying the tax exemptions, LeSean determined it was a “win-win.”

“And on the other side, as a humanitarian, you’re able to affect certain communities that need that change,” added LeRon. “Those are usually inner-city areas.”

Former NBA player David Robinson also uses opportunity zones for development.

The McCoy brothers have 60 properties, some of which operate under Vice, including buildings in hometown of Harrisburg, Pennsylvania, and in Philadelphia and where he played with the Eagles for six seasons.

“We want to build that empire in real estate,” LeSean said.

All about trust

LeRon played in the NFL for the 2005 season with the Arizona Cardinals. LeSean played 12 seasons, was selected to six Pro Bowls, and was on the Kansas City Chiefs team that won Super Bowl LIV. LeSean has made $63 million in his career, according to Spotrac.

LeSean asked his brother to help operate Vice, which he launched in 2018, while he maintained his NFL career.

“The hard part for players is trusting,” LeSean said. “My brother is a guy that I trust like no other, so that’s probably why it works so well with real estate. He’s constantly teaching me.”

During Covid-19, LeSean trusted LeRon to handle losses accumulated for the firm, as construction was halted and residents occupying units had eviction protection. LeRon didn’t disclose financials to CNBC but said Vice’s losses were less than $2 million.

“We’re brothers, but he would fire me,” LeRon joked. “The biggest loss that I can pinpoint isn’t dollars but the opportunity.”

Before the pandemic, LeRon said Vice Capital was in negotiations to purchase a property near La Salle University in Philadelphia’s Germantown neighborhood. The property decreased in value, but when Covid-19 spiked real estate prices, the owner took it off the market then relisted it at double the previous price, putting it out of Vice’s range.

LeRon said the pandemic “put a strain on things” as materials like lumber have soared, increasing construction costs. “But I would also say it’s made the seller’s market more magnified,” he added. “Interest levels are cheap, and everyone wants to buy.”

It’s here that LeSean is trusting his brother again. LeSean’s in favor of selling some properties with prices high in a red hot real estate market. LeRon is against the idea.

“Sometimes we agree on things, and sometimes we don’t,” LeSean added. “But the good thing about our bond is that I can trust him with business.”

The McCoy brothers can’t unload the Opportunity Zone properties, though. Investors get tax breaks on their capital gains if they leave their money in a selected community for at least 10 years.

LeSean McCoy (25) walks across the field during the Tampa Bay Buccaneers Training Camp on September 03, 2020 at Raymond James Stadium in Tampa, Florida.
Cliff Welch | Icon Sportswire | Getty Images

What’s next on the field?

Though LeSean counts on his brother for business advice, he still needs to decide on his career as the 2021 season nears. LeSean says he wants to play but remained uncertain about a teams’ interest.

“There are some teams that I probably won’t play for that reached out,” he said. “Other teams, hopefully, we can get an agreement on some things. It’s got to make sense.”

Recapping his 2020 season, LeSean said playing with Bucs quarterback Tom Brady was a “great experience.”

“The whole journey, to see and play with him… I scrimmaged against him when I played in Philadelphia (Brady was then with New England). He was like a drill Sergeant, and then actually playing with him, I could see it. He’s so intense and smart,” LeSean said. “I’ve never played with a quarterback like that where he’s 43. It was cool to see.”

If retirement is near, LeSean said he has options and real estate is the main play. Asked about stocks or investing in bitcoin, LeSean said he tried the investments but is no longer interested.

“My thing is real estate,” LeSean said. “That is something I understand. I don’t need to take someone else’s word for it and the ups and downs – it’s just a lot. With real estate, I can see what’s going on; I can see my money, touch it and feel it.”

What to know about the 2023 Pro Bowl: Dates, how to watch/live stream info, AFC, NFC coaches, competition schedule, and more

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The 2023 NFL Pro Bowl will take place over the course of two days at Allegiant Stadium–home of the Las Vegas Raiders–in Paradise, Nevada. The excitement begins on Thursday, February 2 as NFL fan-favorites compete in a brand-new skills challenge featuring the following events: Epic Pro Bowl Dodgeball, Lightning Round, Longest Drive, Precision Passion, and Best Catch.

Sunday, February 5 will feature the following: the Best Catch Finale, Gridiron Gauntlet, Kick Tack Toe, Move the Chains, and three seven-on-seven non-contact Flag football games between the league’s best players.

See below for additional information on how to watch the 2023 Pro Bowl as well as answers to all of your frequently asked questions.

RELATED: What to know about Super Bowl 2023 – Date, location, halftime performance info, and much more

Who are the coaches for the 2023 Pro Bowl?

AFC Coaches:

  • Peyton Manning – Head Coach
  • Ray Lewis – Defensive Coordinator
  • Diana Flores – Offensive Coordinator

NFC Coaches:

  • Eli Manning – Head Coach
  • Demarcus Ware – Defensive Coordinator
  • Vanita Krouch – Offensive Coordinator

How will the 2023 Pro Bowl be different from previous editions of the event?

Rather than the traditional tackle football game, this year’s Pro Bowl will debut a skills competition and a non-contact flag football game.

How will scoring work?

According to the NFL, points will be calculated in the following way:

  • The winning conference of each skill competition earns three points towards their team’s overall score, with 24 total points available across the eight skills events.
  • The winning conference from each of the first two Flag football games on Sunday will earn six points for their team, for a total of 12 available points.
  • Points from the skills competitions and first two Flag games will be added together and will be the score at the beginning of the third and final Flag game, which will determine the winning conference for The Pro Bowl Games.

How to watch the 2023 Pro Bowl:

  • Where: Allegiant Stadium in Paradise, Nevada
  • When: Thursday, February 2 (7:00 PM ET) and Sunday, February 5 (3:00 PM ET)
  • TV Channel: ESPN, ABC, and Disney XD

When is Super Bowl 2023?

Super Bowl 2023 takes place on Sunday, February 12 at 6:30 p.m. ET on Fox.

Where is Super Bowl 2023?

Super Bowl 2023 will be contested at State Farm Stadium–home of the Arizona Cardinals– in Glendale, Arizona.

What teams are playing in Super Bowl 2023?

The Philadelphia Eagles will face the Kansas City Chiefs marking the first time since 2017 that both top seeds qualified for the Super Bowl.


Follow along with ProFootballTalk for the latest news, storylines, and updates surrounding the 2022 NFL Season, and be sure to subscribe to NFLonNBC on YouTube!

Super Bowl food 2023: Appetizer, entrée, and dessert ideas for Super Bowl LVII inspired by the Eagles and Chiefs

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As the countdown continues toward Super Bowl LVII, the Philadelphia Eagles and Kansas City Chiefs are getting their game plans set. But while they go over their plays, the rest of America goes over their menus in preparation for the big day. When it comes to the Super Bowl, everything is always the best — the best teams, the best performers and, of course, the best food.

But how can you impress your party in the kitchen while showing support for your favorite team? Let’s take a look at some iconic food from each of the Super Bowl team cities to prepare for Super Bowl LVII.

RELATED: What to know about Super Bowl LVII: Date, location, how to watch

Philadelphia Super Bowl food

Crabfries

Why have plain old fries when you could have crabfries? That’s exactly what Pete Ciarrocchi, the CEO of the legendary Philadelphia restaurant Chickie and Pete’s, said one day when creating this intriguing concoction.

While the name may be misleading, crabfries do not contain any actual crab, but rather a blend of spices and Old Bay seasoning that allow the dish to take on a subtle seafood flavor. Topped with a creamy, cheesy dipping sauce, the crinkle-cut fries are sure to take your taste buds to the next level.

Cheesesteak sloppy joes

It simply isn’t Philly without a cheesesteak. Keep it casual in your kitchen on Super Bowl Sunday with Katie Lee Biegel’s Philly Cheesesteak sloppy joes, an easy way to rep the Birds.

Can’t get enough of the cheesesteak? Bring some more Philly specials to the table with this cheesesteak dip, the perfect way to amp up your appetizer game and leave party guests feeling like they just took a trip to the City of Brotherly Love.

RELATED: Rob Gronkowski predicts Eagles to win Super Bowl LVII

Water ice

Is the action of the game heating up? Cool down with a classic Philly treat, water ice. First originating in Bensalem, Pennsylvania in 1984, the icy dessert is now sold in over 600 stores nationwide. The original Rita’s Water Ice shop, however, still remains open for business.

You can even show a little extra passion for the Birds by whipping up this green apple variation, sure to leave you refreshed and ready for the Lombardi.

Kansas City Super Bowl food

Cheese slippers

If you’re looking for a classy, yet authentic appetizer to bring to the table, there’s no better fit than the cheese slipper. This ciabatta loaf baked with melty cheeses and topped with seasonal vegetables and herbs has Kansas City natives hooked.

While the bread is typically baked to perfection by local shops, test your own skill level with this gourmet slipper bread recipe that you can complete with the mouth-watering toppings of your choice.

RELATED: How many Super Bowls have the Chiefs been to, won?

BBQ burnt ends

It’s rare to hear the words Kansas City without barbeque following short after. If you’re looking to impress your guests with your Super Bowl food spread, get out to the grill and start showing off.

While many cities in America know how to cook up some excellent BBQ, the combination of the sweet flavors and mouth-watering sauce has made Kansas City a hub for barbeque lovers for decades.

BBQ burnt ends, while a bit time-consuming, are  well worth a little elbow grease. The dish is also one of the few in Kansas City with a distinct origin story. The meal first found its creation at Arthur Bryant’s Barbeque, a legendary African American restaurant in KC. Bryant originally made the burnt ends from the trimmings of pork belly, but since then, BBQ lovers have made incredible bites out of many styles of meat.

And if you’re feeling extra ambitious, try fixing up some classic Kansas City sides to pair with your entrée to perfection.

RELATED: What to know about Rihanna, the Super Bowl LVII halftime performer

Chiefs chocolate chip cookies

While there is no specific dessert that defines the Heart of America, you can still show your Kansas City pride with these ever-colorful Chiefs chocolate chip cookies.

Make sure to have your food dye handy, because the red and yellow hue of these cookies are sure to show everyone whose side you are on.

Or, if you’re feeling artistic, design an eye-catching Chiefs jersey out of the fan-favorite rice krispie treats. Whether you make Patrick Mahomes, Travis Kelce or Chris Jones, you’ll have the tastiest Super Bowl jerseys around.

How to watch the Super Bowl 2023 – Philadelphia Eagles vs Kansas City Chiefs:

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