NBA great Chris Webber bets $50M on Detroit

NBA hall of famer and Detroit native Chris Webber said he would build a $50M cannabis facility in Detroit’s Corktown neighborhood. The 180,000 square foot campus will include a grow, a dispensary and a consumption lounge. It could be among the biggest Black owned cannabis businesses in the country. 
Detroit News

• Webber, who teamed up with investor Jason Wild to create a $100M cannabis impact fund, is opening the facility with entrepreneur Lavetta Willis. It will focus on four business areas: real estate development, cultivations, brand partnerships and creative content development and management.
• The plan is for the campus, Players Only Holdings, to open in phases. Eventually the group expects to invest $175M in the site. 
• Players Only announced it will host career training program Cookies U. It also announced a distribution partnership with Gage Growth, an operator which recently announced it would be acquired by Canada-based MSO TerrAscend.