JAB Classic tips off Aug. 14 with $1M prize pool as Jared Armstrong builds a post-career business through youth programs, court renovations, and cross-industry partnerships.
Jared Armstrong will tip off a $1 million basketball tournament in Philadelphia this August. The professional player is using his career to build a business that extends well past the court.
Armstrong's path to the Palestra was not direct. A rare foot condition erased his college prospects and sent him to play professionally in Israel. He overcame a legal challenge linked to his Black and Jewish identity to secure Israeli citizenship. Now 29, he is the founder of JAB, a company that runs a youth program, real estate development, event production, and international court renovations.
“I always just believed in myself,” Armstrong told Fox News Digital. “The rest is just about the hustle and the work and the brains that you can find and put together. My goal is basically trying to build a business, which is rare, while you’re playing. That way, when I’m done, I have something to fall back on.”
Industry data shows nearly half of professional athletes fall into financial hardship within five years of retiring. Armstrong's strategy is to build multiple revenue streams before his playing days end. The youth arm, JAB Camp, has served roughly 3,000 young people through athletic training and leadership workshops. According to the organization, several alumni have earned college scholarships and launched community projects.
One participant, Malik Johnson, said: “JAB taught me how to be a leader on and off the court. The financial training workshops helped my family plan for college, and now I mentor others in my neighborhood.”
The centerpiece of Armstrong's current push is the JAB Classic, an open tournament with a $1 million prize pool scheduled for Aug. 14 to 16 at Philadelphia's historic Palestra. Eight teams from eight cities will compete. The event has drawn backing from ownership groups tied to the Philadelphia 76ers and the Indiana Pacers. Current and former NBA players expected to participate include Quinn Cook, Donte Greene, Erick Green, Jerome Randle, Lamar Peters, Darrun Hilliard, Taylor Funk, and Tyrese Martin of the 76ers. Shaquille O'Neal's team donated 350 pairs of sneakers.
Armstrong has also moved into infrastructure and real estate. Through the JAB Resilience Tour, he renovated 10 basketball courts in Philadelphia and Israel after the October 2023 attacks. OK! Magazine reports his projects include court construction in those two cities, with plans for further international expansion.
A separate collaboration with James Beard Award-winning chef Michael Solomonov and Federal Donuts & Chicken produced the JAB Donut, a product Armstrong said was meant to promote cross-cultural unity. “We created two donuts to really symbolize unity and combating hate,” he told Inc. Magazine. “That was a part of the JAB tournament. It is a symbolic thing that we wanted to do to send a message to the world.”
The JAB Classic tips off Aug. 14 at the Palestra.
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