Ryan Castro Buys Stake In Colombian Basketball Team Paisas

Add a new line to Colombian reggaetón star Ryan Castro’s resume: professional sports team owner.

Castro announced that through his company AWOO Team, he has acquired a significant equity stake in Paisas Basketball club, a professional team in his hometown of Medellín. The acquisition makes Castro the first Colombian music artist to own a stake in a basketball team, and also makes him one of only a handful of Colombian artists vested economically in sports.

“It’s another facet for us as entrepreneurs. Supporting sports, because the kids in the barrios have the same dreams as us, the artists,” said Castro, who rose to stardom from the slums of Medellín, tells Billboard.

The Paisas, he adds (the term “Paisa” is slang for people from Medellín), are from his hometown, plus, “I love basketball. Every time I go to the U.S., I like to go to NBA games. So, it all came together and the opportunity arose to support a team from my city to continue growing the basketball movement, generate more activity and support young people who are into sports.”

While basketball is not nearly as prominent as soccer in Colombia, it’s on the rise. Castro’s acquisition coincides with Paisas Basketball debut in the Basketball Champions League Americas (BCLA0, which includes top teams from across the continent). The team also competes in the Betplay professional league in Colombia under Venezuelan coach Daniel Seoane.

On his end, Castro is no stranger to sports.

Last year, he released “El Ritmo Que Nos Une,” the official anthem for Colombia’s national soccer team during Copa América. The video, which has been viewed more than 110 million times on YouTube, shows Castro hanging out and playing soccer with members of the Colombian squad.

However, Castro wasn’t actively looking to invest in sports. The opportunity came to him via a close associate who works actively with basketball and the NBA. “He told me this was a possibility and me and my team gathered all the information we could about Paisas,” says Castro.

Beyond investing in the team, partnering with Castro also gives the Paisas the opportunity to leverage the musician’s platform as a popular Colombian artists with millions of followers on social media (4.5 million on Instagram alone). Plus, he says, “Taking into my account my life story, also take that message of empowerment, of working for your dreams to other kids. That’s the intention. Many kids dream of basketball and sports as a way to get ahead and have a better life, and my story is similar, but with music. So it’s about also taking that motivation, and, as a businessman, I want to venture into sports.”

Castro is set to officially announce his partnership Tuesday (Jan. 14) at a press conference in Medellín. At the same time, he’s releasing his first single of the year, “Ni x el Putxs,” featuring Colombian trap star Kris R.

Castro’s music is distributed by Sony Latin via his company AWOO Corp. He also has a strategic partnership and label services deal with WK Records with Leo Arango as his manager.