Scottie Pippen lost 120 million in career earnings

[D-Wade #3]

Scottie Pippen
Known more for his on court defense than his off court business sense, former Chicago Bulls (http://sports.yahoo.com/nba/teams/chi/;_ylt=AgCeDdThRJP4hRYN83Nfb.PEnZF4) star Scottie Pippen lost $120 million in career earnings due to poor financial planning and bad business ideas. Air Jordan’s sidekick blew $27 million on bad investments and spent $4.3 million on a Gulfstream II corporate jet.

http://sports.yahoo.com/top/news?slug=ys-investopediamoneyloss031010&prov=yhoo&type=lgns

[Mel_13]

"We might make a lot of money but, we also spend a lot of money."

Patrick Ewing

[BRHornet45]

sons only $4.3 million on a GULFSTREAM II? that wasn't a bad investment, that's a hell of a deal. that jet usually cost like $10-14 million. Scottie must have bought one that was missing a wing or something.

[BRHornet45]

"We might make a lot of money but, we also spend a lot of money."

Patrick Ewing

son because most of these spoiled, ass clowns in the NBA don't have enough sense to poke piss out of a boot.

[Fabbs]

What did Pippen blow the other 93 million on.

Wonder how much of this blown dumb athlete money is on gambling?
I bet a lot. :lol

[BRHornet45]

What did Pippen blow the other 93 million on.

Wonder how much of this blown dumb athlete money is on gambling?
I bet a lot. :lol

son just think about how much both he and Jordan probably spent on white women.

[j.dizzle]

No offense to black ppl on this site but a lot of newly rich Athletes & Entertainers are damn bad with managing their money..Most of them grew up with nothing so right when they get that money, they want 5-10 cars they don't need, a 15,000 sq ft pad with versace furniture & gold chandeliers, ridiculous jewelry, 3 maids, 2 personal chefs, fur coats, etc etc. hahaha..And a lot of them also fall for bullshit business investments.."Hey, if you invest 5 mil in my company, I'll double your money in 2 years" type of shit hahaa..Hopefully a lot of em are getting smarter with their cash especially in this economy.

[djohn2oo8]

son just think about how much both he and Jordan probably spent on white women.

At least Kobe didn't "spend" money on white women :lol

[DesignatedT]

what an idiot.

[BRHornet45]

No offense to black ppl on this site but a lot of newly rich Athletes & Entertainers are damn bad with managing their money..Most of them grew up with nothing so right when they get that money, they want 5-10 cars they don't need, a 15,000 sq ft pad with versace furniture & gold chandeliers, ridiculous jewelry, 3 maids, 2 personal chefs, fur coats, etc etc. hahaha..And a lot of them also fall for bullshit business investments.."Hey, if you invest 5 mil in my company, I'll double your money in 2 years" type of shit hahaa..Hopefully a lot of em are getting smarter with their cash especially in this economy.

son the whole "they grew up with nothing" excuse is VERY old. its 2010 now and for decades professional athletes, actors, etc. have been given opportunities for financial advice. even if they didn't go to college or take any type of finance classes, MOST professional sports teams have a finance guy to help them. regardless ... if you sign a $15 million dollar contract, then buy a $10 million dollar house, $2 million worth of cars, etc., etc. then you deserve to lose your money.

[j.dizzle]

son the whole "they grew up with nothing" excuse is VERY old. its 2010 now and for decades professional athletes, actors, etc. have been given opportunities for financial advice. even if they didn't go to college or take any type of finance classes, MOST professional sports teams have a finance guy to help them. regardless ... if you sign a $15 million dollar contract, then buy a $10 million dollar house, $2 million worth of cars, etc., etc. then you deserve to lose your money.
:lol Mtv Cribs one year, getting foreclosed on the next

[TheManFromAcme]

No pity for these idiots.
Just sticking it in a bank and earning simple interest would suffice.

Everybody in here could live rather well just on 1/3 of what these dummies earn.

Geez.

[Blake]

:
http://www.mercymachines.net/images/lmao.jpg


He doesn't look very amused.

I'm betting he's really laughing his ass back on

[Killakobe81]

son the whole "they grew up with nothing" excuse is VERY old. its 2010 now and for decades professional athletes, actors, etc. have been given opportunities for financial advice. even if they didn't go to college or take any type of finance classes, MOST professional sports teams have a finance guy to help them. regardless ... if you sign a $15 million dollar contract, then buy a $10 million dollar house, $2 million worth of cars, etc., etc. then you deserve to lose your money.

BR one of the most INTELLIGENT posts you ever made ...lack of education is no excuse. their are drug dealers in the hood that can handle money ...watch "the Wire" greatest show in the history of TV ...based on real life characters in East and West Bmore ...

[JoeTait75]

BR one of the most INTELLIGENT posts you ever made ...lack of education is no excuse. their are drug dealers in the hood that can handle money ...watch "the Wire" greatest show in the history of TV ...based on real life characters in East and West Bmore ...

Except when Stringer gets "rain-made" by Clay Davis.

I'd say it's a little simpler to manage your money if you're making it off the corners. At least it's all cash, relatively easy to account for. These pro athletes, though, I'll bet in most cases they don't ever get to "see" their money, making it harder to keep track of.

And not all of these guys are black, either, FWIW. Bernie Kosar is something like 19 million in debt right now. He took a bath in the Florida real estate market. It happens.

[DPG21920]

Except when Stringer gets "rain-made" by Clay Davis.

I'd say it's a little simpler to manage your money if you're making it off the corners. At least it's all cash, relatively easy to account for. These pro athletes, though, I'll bet in most cases they don't ever get to "see" their money, making it harder to keep track of.

And not all of these guys are black, either, FWIW. Bernie Kosar is something like 19 million in debt right now. He took a bath in the Florida real estate market. It happens.

It might just be me, but I love when people say cool business lingo things like "he took a bath in the Florida real estate market. It happens." :lol

[JoeTait75]

It might just be me, but I love when people say cool business lingo things like "he took a bath in the Florida real estate market. It happens." :lol

You'd probably laugh more if you knew how ridiculous cool business lingo was coming from me. :lol

[exstatic]

He doesn't look very amused.

I'm betting he's really laughing his ass back on

FAIL. His name is MAO. Get it? LMAO?

[JamStone]

He lost all that money and didn't fix his nose or bumpy head?

[exstatic]

He lost all that money and didn't fix his nose or bumpy head?

No shit! His head looks like a fucking raisin.

[baseline bum]

He lost all that money and didn't fix his nose or bumpy head?

7O8AyJ2rvy8

[SomeCallMeTim]

Magic Johnson seems to be the poster boy for NBA player who took his fortune from his playing days and parlaying it into successful business ventures.

But the guy still pimps himself for commercials for low-rent places like casinos, rent-to-own joints, and payday advance scammers. It is flat-out embarrassing.

nz52vb9cBjQ

[poop]

haha BRHornet speaking epic truth on this thread.

also i agree with the great jamstoe-all that money and he didnt fix his notoriously galactically flat nose (not even stphen jackson can rival it)???

[024]

this isnt hard to imagine. one day a star athlete is making $10 million a year and when he retires, he makes 0. they have to start planning financially for the rest of their life from day one of their careers but of course fail to do so when the money is rolling in.

[poop]

is it just me or have you guys noticed a *certain trend* in those pro athletes who foolishly squander their fortunes? it seems there is *this one common theme* that unites them...can quite put my finger on it but it seems like there is a *certain kind of player* who is always the one that squandes their fortune...

[greensborohill]

is it just me or have you guys noticed a *certain trend* in those pro athletes who foolishly squander their fortunes? it seems there is *this one common theme* that unites them...can quite put my finger on it but it seems like there is a *certain kind of player* who is always the one that squandes their fortune...


yeah, Jack Clark is a dumbass

[pauls931]

Give someone something they never had and they won't know how to use it. A kid a gun, a grandma a computer, a poor person money... You're sending kids from one end of the spectrum to the other without having to gradually adjust.

[YoMamaIsCallin]

Magic Johnson seems to be the poster boy for NBA player who took his fortune from his playing days and parlaying it into successful business ventures.


As far as I can tell, Magic Johnson has (a) a brain, (b) the desire to work hard, and (c) a lick of common sense. It's amazing how far you can go with these things.



But the guy still pimps himself for commercials for low-rent places like casinos, rent-to-own joints, and payday advance scammers. It is flat-out embarrassing.


It's called "getting paid". Also he probably has some ownership in these.

[Booharv]

That's only the second most embarrassing thing to come out about him this year.

Scottie Pippen's press release about 'Midgets vs. Mascots

http://blogs.suntimes.com/sportsprose/2010/01/scottie_pippen_releases_press.html

"FT. LAUDERDALE, Fla., Jan. 8 /PRNewswire/ -- Scottie Pippen, a seven-time NBA All-Star and a member of six NBA title teams, today issued the following statement regarding his role in the movie "Midgets vs. Mascots":

"Given the recent controversy surrounding Gary Coleman, the fact that I've been repeatedly asked questions about my small part in the movie 'Midgets vs. Mascots,' and a related video posted online which shows me being assaulted by a group of Little People, I want to clear up any misunderstandings.

"In 2008, I agreed to play a cameo role in a movie titled 'A Tribute to Big Red' (now titled 'Midgets vs. Mascots'). My role was scripted, and the first two scenes went off without any problems. During the third scene, I was told that four Little People, along with actor Gary Coleman, were going to become angry with something I said and storm off as the scene ends. Instead, they basically attacked me, with Gary Coleman apparently climbing on a chair behind me to hit me over the head with a phone (twice).

"A short fight ensued before I heard the film's director yell 'cut.' As I recall, some of the Little People were laughing as the director explained that the scene was 'sort of like an episode of the TV show Punk'd.' At that point, I left quickly without a clear understanding of what was going on.

"As for the Little Person who claims he was injured in the attack, I really don't think I caused the injury or can be held to blame. To the best of my knowledge, there is no action being taken against me, nor am I pursuing any action. For the record, I have never seen the movie and, in hindsight, wish I'd not been involved with it. I simply wanted to make clear my role and position as I understand the movie is coming out soon. I will not be answering any further questions regarding the film.""


oTMfMP_OXX4

[coyotes_geek]

At least Kobe didn't "spend" money on white women :lol

Pretty sure Kobe ended up spending quite a bit on that whole ordeal............

As for Pippen, dumbass.

[ploto]

Read about all the lottery winners who are broke several years later.