Broke Athletes

Their expenses rise to meet their income while they are playing, with no thought to the future, and once the checks stop coming, they are stuck with heavy mortgages, liens and loans. Good for them
 
Most athletes are idiots. They live paycheck to paycheck because they're paying for other people and living lavishly without thoughts of the future. Lebron is now going to have to pay for his posse in Miami now that he's playing for Dwayne Wade's Miami Heat.
 
BTV_is_neutral said:
I bet at least 80% of these bankrupt athletes are black.
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You are saying this on the basis that 80% of NBA players are black and are hoping to get a "racist" bite and you can then correct them.

Sorry to ruin it :)
 
Pexbo said:
You are saying this on the basis that 80% of NBA players are black and are hoping to get a "racist" bite and you can then correct them.

Sorry to ruin it :)
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Damn you...

No seriously, I instantly thought poor black athletes, who sign their 1st big contract, and have a huge number of groupies...then go crazy with cars, houses, bling, alimony from multiple indiscretions, evil managers, and finally bad investments.

NBA and NFL have huge programs they run now, to help out rookies, to let them know about the pitfalls of sudden wealth, and to make sure they don't hemorrhage money quicker than they earn it.
 
BTV_is_neutral said:
Damn you...

No seriously, I instantly thought poor black athletes, who sign their 1st big contract, and have a huge number of groupies...then go crazy with cars, houses, bling, alimony from multiple indiscretions, evil managers, and finally bad investments.

NBA and NFL have huge programs they run now, to help out rookies, to let them know about the pitfalls of sudden wealth, and to make sure they don't hemorrhage money quicker than they earn it.
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Anyone who's uneducated and has no experience with money is going to have problems. It just so happens to be that most of the big time stars in the NBA and NFL are black. They leave their neighborhoods but lots of friends tag along.

For basketball players, it's interesting to look at players from certain universities. They don't have these issues because the schools provide some form of financial education or workshops.
 
Sir Matt said:
Anyone who's uneducated and has no experience with money is going to have problems. It just so happens to be that most of the big time stars in the NBA and NFL are black. They leave their neighborhoods but lots of friends tag along.

For basketball players, it's interesting to look at players from certain universities. They don't have these issues because the schools provide some form of financial education or workshops.
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Don't say Duke, Don't say Duke...

Can't stand them, want them all dead, except for Grant Hill.
 
BTV_is_neutral said:
Don't say Duke, Don't say Duke...

Can't stand them, want them all dead, except for Grant Hill.
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I was thinking of my alma mater tbf. I can't remember a Duke player having money issues, unless it was related to a big investment/business. Laettner and Thomas Hill didn't have the money to buy the Grizzlies, but I don't think they are personally having issues. UNC doesn't really have those type issues either.
 
I think it is more about the player than anything else. Athletes never want to look at the end of their careers they think they will keep going forever, but the end inevitably comes and they are unprepared for the changes from an income of 5,000,000 a year to 0 a year, especially considering they were blowing most of that 5 million a year anyway
 
I think some of it is overblown. Athletes in the US make more than imaginable, and most are so young, a lot of this can be blamed on immaturity.

When you and I are in our mid 20s, we have just finished all forms of education(unless you are going into research), and working away at your 1st-2nd job thinking of when you will have enough saved up for a deposit.

Our lives are not over at 30, but many a running back is done by the time he is 30. That they waste money and go broke, should not be that surprising.
 
Doesn't help when you father multiple children, own a half-dozen or more vehicles, a six-to-eight figure house, and enough bling to feed an African nation.
 
Alex said:
How the feck did Cheryl swoops earn 50 mil
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The article goes into it but I'd say a HUGE majority of that 50 million had to be from endorsements. WNBA players sometimes have to play in other leagues in the offseason to make more money so it can't be from salary.

I know it's not cool to laugh at people in financial trouble but the Sprewell one always cracks me up after the whole "I have a family to feed" fiasco. He'd have an extra $21 million if he had accepted that extension.
 
Which he'd have pissed away anyhow. Instead, that money went elsewhere and hopefully was put to better use by the recipient.

Here's what boggles my mind. These athletes will drop six figures on cars and jewelry but won't spend a few bucks on condoms. I'd strap my dick every time with that much money riding every sexual act. Too many women are so willing to trap a professional athlete for that guaranteed income for 18 years.
 
How exactly "broke" are these athletes?

Are they now living on the dole? or now just a modest life, still above the norm.
 
Most are probably still better off than the average Joe, just not millionaires and living the lavish lifestyle. The athletes with the more known image can still make a good living off promotions, acting, commentary, books, etc.
 
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