Clinton Portis was about to murder his financial manager

[Dick Whitman]

Clinton Portis's public bankruptcy, private fury

Prepared as he was to commit murder, sacrificing his freedom and his name for revenge, he never found whom he was looking for. But what if he had caught a glimpse before coming to his senses? What if their paths had crossed, there in the darkness? Portis doesn’t hesitate: “We’d probably be doing this interview from prison.”

Sneaky getaway get-up, too.

 

[mpcincal]

Would have been the perfect crime: He could easily frame Sheriff Gonna Getcha or Dolla Bill for it.

 

[Football_Bat]

About 90% of rags-to-riches stories end like this, sadly. It's either blowing your wad on the entourage and Bentleys, or making it rain at Da Club, or trusting someone shady to handle the money.

 

[cjericho]

About 90% of rags-to-riches stories end like this, sadly. It's either blowing your wad on the entourage and Bentleys, or making it rain at Da Club, or trusting someone shady to handle the money.

And it really is about being too stupid or arrogant. Look at Bernard Hopkins. He did not have an Ivy League education, but he has some common sense.

 

[CD Boogie]

Clinton Portis's public bankruptcy, private fury

Prepared as he was to commit murder, sacrificing his freedom and his name for revenge, he never found whom he was looking for. But what if he had caught a glimpse before coming to his senses? What if their paths had crossed, there in the darkness? Portis doesn’t hesitate: “We’d probably be doing this interview from prison.”

Sneaky getaway get-up, too.

Hard to believe this guy got clowned.

 

[Chef2]

That is a special kind of crazy there.

 

[typefitter]

As part of a story once, I went out "clubbing" with Clinton and Santana Moss. (They told me to say I was John Hall, the kicker. I'm white, but there the similarities end. Everybody bought it.) I went over to the Virginia house, saw the giant aquariums, watched a barber come over and get paid big money to make Clinton's hair look pretty much exactly the way it looked before, and then we went out. I don't have an actual total of what Clinton spent that night, but it was tens of thousands of dollars. He owned the VIP section. There were concentric circles of women around us, and dozens of bottles of champagne and God knows what else (it was very hard to get just, like, a beer) and we were there all night. He spent a fortune. And it was just a regular night, nothing fancy.

So: While I have no doubt that his financial advisers were pieces of fraudulent ****, Clinton also spent his money in a way that would have made the Sultan of Brunei blush.

Those are the twin pillars of athlete bankruptcy.

 

[Moderator1]

I went to interview Moses Malone once. He showed up in a Jeep, pretty similar to what I drove. When he signed his first huge contract, he paid an independent auditor to go through all the books at his agent's firm. He had a very nice house but nothing crazy. Bought his mom a nice house, but nothing crazy. Sent her some money every month, again nothing crazy (she was a regular at the bingo game I ran to support my kids' swim team). His agent told me Moses was so good with his money that he couldn't spend all his money if he tried.

For the same story, one of his earlier coaches told me Moses used to read financial magazines and stock tables on bus trips.

People thought he was dim. He was shy, for a while had a bit of a speech impediment, made him nervous doing interviews. We should all be so dim. When he died so young last year, he left behind quite a fortune to take care of his family for as long as they'll live.

 

[typefitter]

I went to interview Moses Malone once. He showed up in a Jeep, pretty similar to what I drove. When he signed his first huge contract, he paid an independent auditor to go through all the books at his agent's firm. He had a very nice house but nothing crazy. Bought his mom a nice house, but nothing crazy. Sent her some money every month, again nothing crazy (she was a regular at the bingo game I ran to support my kids' swim team). His agent told me Moses was so good with his money that he couldn't spend his principle if he tried.

For the same story, one of his earlier coaches told me Moses used to read financial magazines and stock tables on bus trips.

People thought he was dim. He was shy, for a while had a bit of a speech impediment, made him nervous doing interviews. We should all be so dim. When he died so young last year, he left behind quite a fortune to take care of his family for as long as they'll live.

You can kind of tell the guys who are going to be all right and the ones who won't be. Carlos Delgado comes to mind as a guy who knew what he was doing and would only get richer after retirement. Derek Jeter's another.

Clinton Portis was doomed.

 

[Dick Whitman]

As part of a story once, I went out "clubbing" with Clinton and Santana Moss. (They told me to say I was John Hall, the kicker. I'm white, but there the similarities end. Everybody bought it.) I went over to the Virginia house, saw the giant aquariums, watched a barber come over and get paid big money to make Clinton's hair look pretty much exactly the way it looked before, and then we went out. I don't have an actual total of what Clinton spent that night, but it was tens of thousands of dollars. He owned the VIP section. There were concentric circles of women around us, and dozens of bottles of champagne and God knows what else (it was very hard to get just, like, a beer) and we were there all night. He spent a fortune. And it was just a regular night, nothing fancy.

So: While I have no doubt that his financial advisers were pieces of fraudulent ****, Clinton also spent his money in a way that would have made the Sultan of Brunei blush.

Those are the twin pillars of athlete bankruptcy.

Great anecdote.

(For real.)

 

[User 11148]

That ESPN 30-for-30 "Broke" was pretty compelling. Jamal Mashburn, his story turned out nice. He used his basketball to set himself up nicely. He said something to the effect of these being the best, most satisfying years of his life.

 

[SpeedTchr]

I went to interview Moses Malone once. He showed up in a Jeep, pretty similar to what I drove. When he signed his first huge contract, he paid an independent auditor to go through all the books at his agent's firm. He had a very nice house but nothing crazy. Bought his mom a nice house, but nothing crazy. Sent her some money every month, again nothing crazy (she was a regular at the bingo game I ran to support my kids' swim team). His agent told me Moses was so good with his money that he couldn't spend his principle if he tried.

For the same story, one of his earlier coaches told me Moses used to read financial magazines and stock tables on bus trips.

People thought he was dim. He was shy, for a while had a bit of a speech impediment, made him nervous doing interviews. We should all be so dim. When he died so young last year, he left behind quite a fortune to take care of his family for as long as they'll live.

Malone was a very nice guy. Ran into him more than a few times late in his life and he was always friendly, down to earth, and fun to chat with.

 

[Dick Whitman]

I went to interview Moses Malone once. He showed up in a Jeep, pretty similar to what I drove. When he signed his first huge contract, he paid an independent auditor to go through all the books at his agent's firm. He had a very nice house but nothing crazy. Bought his mom a nice house, but nothing crazy. Sent her some money every month, again nothing crazy (she was a regular at the bingo game I ran to support my kids' swim team). His agent told me Moses was so good with his money that he couldn't spend his principle if he tried.

For the same story, one of his earlier coaches told me Moses used to read financial magazines and stock tables on bus trips.

People thought he was dim. He was shy, for a while had a bit of a speech impediment, made him nervous doing interviews. We should all be so dim. When he died so young last year, he left behind quite a fortune to take care of his family for as long as they'll live.

I don't know if it's apocryphal, but the other day I heard a story that the Sixers started to realize their rings was all chocked with fake rocks.

Moses goes to get his appraised: All real gems.

Dance with the one who brung you.

 

[BTExpress]

Malone was a very nice guy. Ran into him more than a few times late in his life and he was always friendly, down to earth, and fun to chat with.

But did he do card tricks in the elevator?

 

[LongTimeListener]

Do teams give these guys any advice at all? Like, have your accountant and your financial adviser be different people?

 

[Moderator1]

Some do, some don't. One team I covered regularly held seminars and made people available. And still had guys get into trouble. Lead a horse to water and all that.

 

[LongTimeListener]

I suppose.

I always remember stories like this when there's a labor dispute. Too many players can't miss a paycheck, let alone months or an entire season. Owners have them by the balls.

 

[Huggy]

I suppose.

I always remember stories like this when there's a labor dispute. Too many players can't miss a paycheck, let alone months or an entire season. Owners have them by the balls.

In my junior hockey days we had a veteran NHLer skate with us during the 2004 lockout while he was waiting for a deal in Sweden to get done. Early December, I ask him how he is handling the lockout. This guy was an average NHLer but signed some big contracts in the pre-salary cap days. He said his parents - both teachers - made him buy a house - and not the big, flashy car he wanted - when he signed his first contract. He said he still owned the house and when it came time to buy the big, flashy car he didn't want one. He kept buying land and houses that his brother would fix up to flip.

In other words he was doing just fine but said many of his younger teammates were struggling to pay the bills and buy Christmas presents during the lockout due to crazy spending, bad financial management, lifestyle issues etc. He said he always amazed young guys who would blow money on a Rolex by telling them it told the same time as the watch he had been wearing since his junior days.

 

[swingline]

Several years ago, I read something about Kyle Korver basically just living on his per diem during the NBA season while banking pretty much all of his paycheck. With the training table food and all hotels and flights paid for, that seems very smart and forward thinking. If true, I'd say he's going to be set up for life when his playing days end.

Portis always was too short.

 

[Baron Scicluna]

I suppose.

I always remember stories like this when there's a labor dispute. Too many players can't miss a paycheck, let alone months or an entire season. Owners have them by the balls.

I remember the stories of Kenny Anderson, who said he always had $10,000 in "walking around money." I looked him up, and he filed for bankruptcy about 10 years ago or so.