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"Broke" - ESPN documentary on NFL players
Posted on 12/17/12 at 6:52 pm
Posted on 12/17/12 at 6:52 pm
You guys seen this yet? Watched last night and its pretty interesting if nothing else.
Two things that stood out most:
1. 78% of all NFL players file bankruptcy
2. The competition off the field to buy the best biggest newest etc is fierce among players.
Hard to feel sorry for someone making that kind of money but it is sad imo.
Two things that stood out most:
1. 78% of all NFL players file bankruptcy
2. The competition off the field to buy the best biggest newest etc is fierce among players.
Hard to feel sorry for someone making that kind of money but it is sad imo.
11
Posted on 12/17/12 at 6:54 pm to The Mick
yea they filmed the whole segment in Germany
Posted on 12/17/12 at 6:54 pm to The Mick
quote:
You guys seen this yet?
No. I think you're prob the first.
Posted on 12/17/12 at 6:59 pm to The Mick
yeah I watched it awhile ago. the amount of money that they give to other people in their "entourage" for really doing nothing doesn't make it surprising that so many of them go broke.
it's sad how people guilt trip and take advantage of the players to get them to invest in something that will fail 9/10 times.
it's sad how people guilt trip and take advantage of the players to get them to invest in something that will fail 9/10 times.
Posted on 12/17/12 at 7:20 pm to The Mick
quote:
You guys seen this yet?
Posted on 12/17/12 at 7:43 pm to Chef Leppard
I thought it was new.
Posted on 12/17/12 at 7:48 pm to The Mick
Once athletes grasp the concept of residual income they will be fine.
Posted on 12/17/12 at 7:49 pm to The Mick
You guyz see the Patriots game last night?!1
Posted on 12/17/12 at 7:51 pm to wildtigercat93
Yes
Posted on 12/17/12 at 7:54 pm to The Mick
quote:
Hard to feel sorry for someone making that kind of money
No its not.
Posted on 12/17/12 at 8:09 pm to kengel2
quote:
No its not.
What if they blow it on cocaine and strippers?
Posted on 12/17/12 at 8:13 pm to The Mick
There was a top 30 for 30 thread recently
About 100 ppl had it in there top 3
About 100 ppl had it in there top 3
Posted on 12/17/12 at 8:23 pm to The Mick
quote:
78% of all NFL players file bankruptcy
Is that really true? 78%?! That's unbelievable.
Posted on 12/17/12 at 8:26 pm to Chef Leppard
I haven't see the one you reference, but it is amazing how much money these guys blow through and don't save. They get such horrible advice, and have so many people taking advantage of them.
Antoine Walker, former UK basketball player earned over $80 million dollars in his NBA playing career and wasted/gambled it all away. I find it hard to believe these guys can't save any of this money.
Antoine Walker, former UK basketball player earned over $80 million dollars in his NBA playing career and wasted/gambled it all away. I find it hard to believe these guys can't save any of this money.
This post was edited on 12/17/12 at 8:30 pm
Posted on 12/18/12 at 9:49 am to kywildcatfanone
There was an article in S.Illustrated a while back, and it quoted an agent as saying his biggest headache was keeping track of the mthly child support payments for each of his clients. He said his clients averaged ....averaged.... 6 kids by 6 different females. With their salaries, that adds up fast. Warren Sapp was paying something over $100K a mth in child support to multiple females, one reason he's filed for bankruptcy.
Posted on 12/18/12 at 10:16 am to The Mick
Been out for a while...biggest thing i found interesting was the lack of diversity in their portfolios re: investment strategies. They showed the pie charts that went along with it.
Posted on 12/18/12 at 10:19 am to kywildcatfanone
quote:
and wasted/gambled it all away
"wasted" included lots of failed businesses. that's what does these athletes in most of the time
and that happens to a lot of normal people, too
quote:
I find it hard to believe these guys can't save any of this money.
they try to "save" it by investing in ventures. if those ventures don't pan out, they're fricked
it's not all stupid shite, either. TO and Mark Brunell lost their savings due to real estate crashing, for example
Posted on 12/18/12 at 10:25 am to The Mick
quote:
The competition off the field to buy the best biggest newest etc is fierce among players.
I bet this is restricted to one race.
Posted on 12/18/12 at 10:31 am to SlowFlowPro
A fool and his money are soon parted.
Posted on 12/18/12 at 10:37 am to The Mick
Also, I'd be willing to bet that the guys who weren't cashing the superstar sized paychecks are the ones who still have money. Some of those guys were probably forced to be at least mildly responsible with their paychecks.
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