Yup...so many of them are long on athletic talent, but short on brains.
Pretty tough to chalk it up simply to brains. Managing that amount of money can't be easy.
That doesn't excuse blowing $600 million or whatever, just saying.
Most of these guys just aren't trained in any way to manage their money. I'm sure is some "leakage" for a lot of the guys who hang on to the scratch as well. Probably they have to figure it out as they go along.
Your financial future should be the first thing you work on securing after you sign your rookie deal. Who do these athletes have advising them? Is there nobody they can trust? With all the money they have it would be simpler to just enroll in a few money management courses to help yourself.
Doesn't the NBA have money management as part of their rookie orientation? Sadly, many players get this big bag of $$$ and don't really stop to think how much they're spending until it's too late.
Yes. This is from 2003. I didn't see one more current but I think the basics are the same every year.
2003 NBA Rookie Transition Program overview
Professional and Life Skills
Computer Training
Education
Finance
Professionalism/Networking
Player Development
Coach's Huddle
NBA Legends Panel
Player to Player Panel with current NBA players
Players Association meeting
Rules of the Game
Personal Development and Education
Character, Image and Ethics Panel
Driving Safety
Drugs and Alcohol
Nutrition
Sexual Health
Stress and Anger Management
Media and Community Relations
Community Relations
Media Training
NBA Communications
NBA Entertainment
Legal Education
Felony Situations
Gambling
Gender Violence
Security
Sexual Harassment
Special Sessions
Focus on the unique challenges facing:
- International players (i.e. Cultural Adaptation; Overcoming the Language Barrier; Acclimating to the NBA-style of play)
- Players "20 and under" (i.e. Being on your own for the first time; Interacting with Veterans; How to deal with Peer Pressure situations)
Wrong, look at MJ
That doesn't always work. Pippen sued the guy that invested his money into bad deals and won but in the end the guy declared bankruptcy so it's likely that Pippen will never see any of that money.
He did, I know the lawyer who represented him. He got a settlement, but between attorneys fees and the sacrifices he had to make he still lost some money in the issue.
if I was a millionaire
my parents would be taken care of for life. I would set them up with money so they can live off the interest, and give them a large bulk sum of money so they can enjoy life a bit.
that's it for them.
friends get nothing.
Funny how they're all black. When was the last time a white guy had this happen to them? Just saying man..
John Daly is Black?
Why did your people trust Adolf Hitler?
Lenny Dykstra is black?
Ah Spreewell and Kid Kenny
So much talent
True story. Some people have so much money that they'll die before they get a chance to up their entire savings.
stupid purchases u dont need and possy u dont need, forget the freeloading bloodsucking golddigger extended family members and pussy traps on the side
Near as I can tell, these 11 are the exception rather than the rule. How many retired NBA players are doing just fine? I'm guessing the vast majority.
Barkley is lucky he has talent that goes beyond playing basketball
Without TNT, he would be on this list for sure. I love him, but one day he might say something not suitable for TV and be gone. A month after that, we'll bump this thread...
Most white kids was born with a silver spoon in their mouth so you don't know what it is to not have! I was going to school in Cedar Hill in a 1978 Nova & lil white kids had brand new Accords & Dodge Rams! That's not a reason to blow your money but it has a effect on your outlook on material things. I blew 1000s on speaker, amps, alarms & other bull . Now I'm cool if that mutha a jus got a/c! White people lose $ to. Yall just kill yourselves an take a couple people with you. It aint nuttin new for a to be broke. I'm use to it.
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