re: NBAPA wants NBA to use new TV money to cover health insurance for former players

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I was saying this in another thread, but what you don't realize is that a lot of these guys Were first guys in their families to make it big/ make a 6 figure+ salary. Our current education system doesn't and didn't teach financial and money management. I think we have to consider what these guys are coming into and the societal pressure in which they are coming from. It's easy to say "you should be able to invest it and make it grow" when you don't have a family dependent on you.

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Can't take a business class or 2 in their one year in college? No sympathy for the guy that can't say no to friends or family. Hell, look at Gronk. Dude may be a legit moron, but hasn't touched any of his money from football. Only uses his endorsement money.

I know where this spiteful, obsessive cult-like regurgitation of "self-reliance" comes from and how it has even bastardized a few biblical verses to support it.

It wasn't that long ago (70s into the 80s) that many NFL players had to work jobs in the offseason, and NBA/MLB time lines were probably similar.

The majority of these guys were NOT making money that made them "set for life". Decisions like buying a house were "looking out for the future".

Guys that played 3-5 years in the league have lifelong injuries or other health conditions.

Legally, are those guys "entitled" to anything? There are cases to be made both ways.

Morally and ethically? Considering those guys played a part in building what are multi-billion dollar industries today then helping them with a basic life need which in all likelihood is affected by the work they did is absolutely the "right" thing to do. And quite frankly, I don't care if they were the guys who were higher paid players and squandered it.

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there are lots of "intelligent" former athletes who are now reportedly broke

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Woah, why bring race into this?

Dumb jocks are dumb jocks.

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Hell, look at Gronk. Dude may be a legit moron, but hasn't touched any of his money from football. Only uses his endorsement money.

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Dude has massive contract and a lot of endorsement money.

That's a bad example if you're trying to describe a typical pro athlete. A lot of them don't make a tiny fraction of his annual income in their entire career.

I do agree its mostly their fault however. I think the money from the TV revenue should have some allocated to a hardcore, month long seminar about fiscal responsibility that all of them take when they come into the league. Not the weekend long resort party. I'm talking intense testimony from broke athletes telling them not to give their money away to everyone and not to invest in dumb shite.

And every year the entire league has a weekend long refresher course that is mandatory.

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"Dude has massive contract and a lot of endorsement money. "


NBA guys have guaranteed contracts and you only have to be a 6th man or less theses days to get a 56 million dollar contract. Except in the NBA a 56 mil contract actually means 56 mil, when in the NFL, it really means the signing bonus and whatever game checks you can get

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I'm not saying they don't make a ton of money. That is not my argument. I am saying they don't make "gronk" money both on and off the field so its a bad comparison.

And I agree, the cross-sports comparison is silly.

My other points stand though. These guys need to be forcefully spoonfed fiscal responsibility at a month long seminar where the outside distractions are banned.

I dont think anyone isn't holding the players accountable, but I think we have to keep in mind where the players are coming from when they get into the league. Ultimately, I think that responsibility (financial management courses) falls on the players associations.

If I would lobby for a mandatory 15-20% of your yearly earnings, pre-tax, to be stashed away in retirement fund that can only be accessed 10 years after a player retires.

Let's remember we are living in a world where the Cavs backup PF just got 90 million dollars guaranteed

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You're right. They make much more in a lot of cases.

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Average NBA salary is $4.9 million. Gronk makes 6 year/$54 million for $9 million a year, plus an $8 million signing bonus. He is nearly double the average NBA salary. That is my point and it is not really important to my main point of what to do for NBA players to help them financially after basketball. This is the last time I will post about Gronk in this thread. Let’s stop comparing different sports.

"I'd fully support their venture if they required every athlete that comes into the league to take a finance/wealth management course so that they are then at least aware of how they should manage their money if they want to make it last.
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This is what the NFL Symposium is supposed to be but given the story of them not being able to shut the crowd up after bringing up the Dez Bryant catch, I figure it goes like giving a 5th grade class a lesson on flatulence

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This is what the NFL Symposium is supposed to be but given the story of them not being able to shut the crowd up after bringing up the Dez Bryant catch, I figure it goes like giving a 5th grade class a lesson on flatulence

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Needs to be a month long, no cell phones, no friends, no nothing.

Have 50 ex-players who are broke drill into their minds what not to do with their money i.e. give to friends and distant relatives, invest in bullshite, etc.

Set them up with dozens of options for financial advisors that are vetted by the league front office.

Etc.