NBA great Chris Webber sets up £70m fund to help cannabis entrepreneurs thrive with marijuana business to be worth £93BN

NBA legend Chris Webber has created a £70million fund to help entrepreneurs thrive in the reported £93 BILLION marijuana business.

The 47-year-old has set it up in order to help minorities cash in on the green rush Stateside.

As more and more states decriminalize marijuana a number of investors and high-profile figures have invested in the developing industry.

Boxing icon Mike Tyson is just one of those, and now the five-time NBA All Star is getting involved himself.

And the ex-Golden State Warriors forward has joined up with JW Asset Management to help minorities succeed in the business.

Speaking to , Webber said: “People need help. So we’re gonna come in these places and we’re gonna train, we’re gonna make sure we provide jobs, and we’re gonna make sure you have a hub to understand how you can enter the cannabis industry not just as a cultivator or grower or some star, but also to make a great living by providing certain services that the industry allow.”

Webber fears that the budding industry could soon be taken over by large corporations only interested in profits rather than a genuine enthusiasm for the business.

And that is why he feels that everyone should have the chance to invest.

He added: “It’s crucial that we diversify the leadership in the cannabis industry and level the playing field for people from our communities.

“For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited.”

BETS OF THE DAY: DON'T MISS TODAY'S BEST ODDS BOOSTS

The marijuana industry is set to be worth £93bn within the next three years, experts predict.

And Tyson is already one of those reaping the rewards from it.

The former heavyweight champ, famous for delivering a knockout punch, has been selling cannabis products since 2016 through his Tyson Holistic label that are as potent as one of his uppercuts.

Tyson, 54, is believed to earn around £500,000-per-month through his business that offers premium marijuana strains, edibles and extracts, and that's just the tip of the iceberg.

'Iron Mike' is building a 418-acre weed-themed holiday resort he hopes will be home to a music festival to rival Coachella, as well as the world's longest lazy river.

And aside from a luxury hotel and the lure of 'glamping' tents, there will be a Tyson University on site that will aim to teach cannabis cultivation tips to wannabe farmers.