Strapped for cash, NFLers? Here's a loan to hold you over...

[JackReacher]

The Bentleys and mortgages aren't going to pay for themselves, I suppose.

http://www.thepostgame.com/features/201104/tpg-exclusive-cash-strapped-nfl-players-seeking-high-risk-lockout-loans#

 

[Pancamo]

I assumed NFL players got paid once the season started so why is this off-season any different financially than any other?

Wouldn't it make sense for the trade union to give out the $60K in September if games were lost?

 

[JackReacher]

Good question. Roster bonuses, and that's about it, right?

I know first-hand that one player -- Chris Cooley -- makes and sells pottery and other artsy things at a new gallery he bought in December. Went there Friday night for a showing. While it's nothing near what he makes in the NFL, he's doing OK based on the prices of some of those things. Dude also went to his local Redskins team store -- where he gets 40% off -- and bought up $6,000 worth of his own jerseys. He signed them and has them for sale at his gallery for $275. All kinds of other signed memorabilia there, too. Hats, shirts, pictures, framed jerseys, etc...

I overheard him telling someone that he's been pretty smart with his money and that he's doing just fine during the lockout so far. Apparently, some are not.

 

[93Devil]

http://sports.espn.go.com/nfl/news/story?id=6229139

Players are paid each of the 17 weeks of the regular season and get limited stipends during training camp and the preseason. So no paychecks would be arriving this time of year. But with no collective bargaining agreement, any roster or signing bonuses due to players are not being paid. They also must pay for their own workouts and for insurance against injury during those sessions because team facilities are off-limits.

They get 17 big checks each year which go along with the 17 weeks of the NFL season.

The owners know half of these guys would be bankrupt by Halloween, but the players know the networks are going to destroy the owners if real players are not playing football.

 

[LongTimeListener]

Story mentions player-to-player loans and also makes it sound like institutional loans themselves have been somewhat commonplace, with Feely and others saying the guys should go to the bank. But it also says those kinds of unsecured loans are "a thing of the past," which is probably a casualty of the global meltdown and the tightening of credit afterward. What isn't said in there, but I wonder about, is whether banks and other reputable places are rejecting these loans because they aren't as likely to be repaid in September.

The guys making the loans, though, they sound like the scum of the Earth.

--I'm sure Jerry Jones is having a big old laugh on this one today.

 

[Bamadog]

This is also why the players will cave. The NFL owners will win this labor strife going away thanks to the players' spending habits. Gotta have that Bentley and the bling.

 

[poindexter]

That Dom champagne isn't going to spray itself [crossthread]

 

[Starman]

This is also why the players will cave. The NFL owners will win this labor strife going away thanks to the players' spending habits. Gotta have that Bentley and the bling.

They'll shut it down for a year, declare an impasse, then bring them back at $30,000 a year.