Armando Bacot shares his impressive investment portfolio after earning over $2M in NIL deals during UNC career

Former North Carolina center Armando Bacot didn't hear his name called in the 2024 NBA Draft, but has signed an Exhibit 10 contract with the Utah Jazz. Instead of focusing solely on basketball, Bacot has made significant strides in the Name, Image, Likeness (NIL) space.

During his five seasons at North Carolina, he earned over $2 million through various deals. Bacot recently shared his impressive investment portfolio.

He discussed his financial ventures with former Tar Heels star Theo Pinson on the Run Your Race podcast.

“I just bought a hotel, invested in a hotel with my roommate because his dad owns a lot of hotels… that was huge for me,” Bacot said. “Invested in athletes organization, player association with the goal of them being like the people who license the deals for college athletes and do a lot of the agreement with that.

“I've been able to be open and to meeting a lot of great, successful people just through Carolina,” he said. [Timestamp - 1:14:49]

According to Brobible, several companies offered Bacot several deals nearing six figures between March and June alone. His mother Christie Lomax told Sports Illustrated that she expects his NIL income to exceed half a million dollars this year alone.

Bacot has a recurring role on Netflix, a lucrative seafood endorsement, charity promotions and partnerships with a Kentucky farm, a tech firm and Topps. He even made $21,000 from selling T-shirts, per SI.

Coach Hubert Davis' influence keeps Armando Bacot at UNC

North Carolina Tar Heels head coach Hubert Davis hugs forward Armando Bacot. [IMAGN]

UNC's Armando Bacot shared his transfer plans on Theo Pinson’s Run Your Race podcast.

“It’s funny because I was going to transfer after my sophomore year,” Bacot said. “I had that great year but like coach [Roy] Williams had left. Remember he had said he was leaving on April Fools. But I kind of had an idea before. I had to keep it quiet. Nobody else knew.”

The hiring of Coach Hubert Davis convinced Bacot to stay at UNC, and it paid off as he helped lead the team to the Final Four.

“I was a building block for that next team because they knew I was going to leave,” Bacot said. “So, I was going to go to VCU, which is crazy to think. So then coach [Hubert] Davis is named the coach and coach Davis recruited me, that was the guy who always had a hand on my shoulder when I was down my freshman year, always encouraging me.

“So when coach Davis said he was coming, it was a wrap,” he said. “I knew I was going to stay at Carolina.”

Despite missing the NCAA Tournament in the tough 2022-23 season, Bacot and the Tar Heels bounced back strongly. They secured a No. 1 seed in this year’s NCAA Tournament but ultimately fell to Alabama in the Sweet 16.