It's actually worse than we thought Tim lost 20+ million to bad investments he oversaw. This ing dude right here mane...this is wild as ....i thought yall said this dude was smart because he is articulate and can read well...lol so much for Floyd being a dumbass. Floyd is Einstein compared to Dencan who has a 4yr college degree and can read very well...lol
(Bloomberg) -- San Antonio Spurs 15-time All Star Tim Duncan lost more than $20 million to bad investments at the center of a lawsuit filed Friday against his ex-financial adviser, a person familiar with the matter said.
Duncan, 38, said he met Banks during his rookie year in 1998. At Banks’s urging, the athlete invested several million dollars in hotels, beauty products, sports merchandising and wineries that the adviser owned or in which he had financial stakes, according to the filing.
Banks said he found Duncan’s complaints about improprieties with his investment in Gameday “a little surprising” as “he was aware of the loan and aware of the whole situation.”
I’m saddened that my name will join the list of athletes to fall victim to this sort of misconduct.” - Tim Duncan
http://www.bloomberg.com/news/articl...ad-investments
It doesnt look like he's going to win his case either. It appears he knew about the investments all along but trying to make it seem like he was duped. Now I see why that illegal alien got a cool milli out of him to build a gym....apparently it was easy as to siphon cash off his ass..lol
Kid in his early 20s mades terrible investment. Sounds about right.
At least he admits he made a ty business move. The majority of people will hide the fact they ed up.
STFU. I dont wanna hear that ...
Banks, a private-equity investor, claims Duncan is using the lawsuit as leverage to get out of limited partnership investments. He said in an interview that he and Duncan are limited partners in several deals, and that he hasn’t acted as the athlete’s financial adviser since 2007.
I don't know why but I had to laugh at your response. TBH Kobe and Tim made terrible investments in their early 20's. Tim got scammed by this guy and Kobe made terrible rape investment in Colarado that cost him millions in endorsement deals and plus he had to pay for his freedom.
Please....Kobe paid that ~$60k while Tim lost about 23 million total....
Boom there goes the dynamite.
lol, lost endorsements
and why the do you care what players make... If anything this means Duncan might be around to torment you more because he needs to play more to get money
Yeah, Kobe lost endorsement deals, but then he got them back anyway as soon as he got back on his foot. He is still one of the top-earners in sports.
He also almost lost half of his net worth but he was clutch in fixing his marriage and everything is alright with the Bryant household again.
Losing $20 million to dorks though...
Again, why do you care in the slightest about millionaires losing/gaining more millions. Its the same story, rich getting richer/poorer. Yet they still have more money than you and you sit here and talk like anybody actually cares. Like calm the down dude, you gonna get a boner because Kobe passes stool better than Tim?Yeah, Kobe lost endorsement deals, but then he got them back anyway as soon as he got back on his foot. He is still one of the top-earners in sports.
He also almost lost half of his net worth but he was clutch in fixing his marriage and everything is alright with the Bryant household again.
Losing $20 million to dorks though...
Jim is the ultimate sucker, being a cuck is in his nature. If he wasn't a lucky winner of the genetic lottery he would be lying in a gutter tbh.
Kobe's trying to tell these s "Get you paper up". Instead jim is out here getting cucked, financing gyms and $20 million investments without his knowledge on top of the paycut he's already taking for the spurs and god knows what else Amy is making from the divorce. What a chump
Lakerfans used to have 5>4.
Now they're reduced to TMZ level tabloid behavior, caring about Duncan's financial and marital status in the vain hope it'll give them some material to work with.
How the mighty have fallen.
The fact is he lost $20 million to bad investments. For a hall-of-fame athlete an a sport's top-10 player who's also a known dork, one would've thought that he knew how to keep track of his finances. Anyone who loses $20 million because of stupid decisions is stupid. I take interest in this because I work in the financial industry
Why is this worthy of caring about in the first place?
The only thing a pro athlete does that is worth caring about is his on court/field performance. Kobe can have all the /Bean3r jersey money he wants and Kool can masturbate over Kobe's portfolio. Doesn't change the fact that Duncan is the greatest player of his generation
Suddenly talking about a players' personal life became a taboo subject for spurfans
"Please don't make fun of my cuck. Let's talk about 10+ year old rape cases instead."
Kobe won that as wellSuddenly talking about a players' personal life became a taboo subject for spurfans
Deserves anothertbh
No. I just find it amusing that you're scavenging for material now that Duncan is sitting on top while Kirby is chucking his rotator cuff into oblivion.Suddenly talking about a players' personal life became a taboo subject for spurfans
But yeah, I've moved on from the rape. I find him getting cucked by Karl Malone more amusing.
Lol lakerfans reduced to . How them Lakers doing?
List of your accomplishments. Go. Wanna compare to Duncan's.
Didn't get cucked award
Didn't lose 20 million
The rest of achievements he owns me for sure. And he should. He put his 7 foot body to excellent use and made his name known to the world as a professional athlete. A very good one, at that.
Losing $20 mil sucks, but he's likely to recover some of that when he wins the lawsuit. And it's not like he's struggling, exactly — having made $200+ million over the course of his career. It's telling that he didn't even know the guy had been mismanaging his investments until he divorced his wife and had to look at his finances in close detail. It clearly didn't have too much impact on his daily life.
Exactly its embarrassing for him he lost the 20 mil but at the same time he's not going to be broke Antoine Walker style. I'm sure he still has millions left in the bank he'll be fine.
Lol. Now I see why he gave that le back....he's just used to giving away ....even his ass
He's clearly a BETA
At the end of the day it doesn't matter considering he gave the spurs 5 les something nobody else would have ever been able to do.
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