Young, rich and stupid

[poindexter]

60 per cent of NBA players go broke five years after leaving the league

http://www.thestar.com/Sports/article/299119

 

[BYH]

raise your hand if you clicked here thinking Britney was finally chasing cars at Grandma's with Heath Ledger.

 

[imjustagirl2]

raise your hand if you clicked here thinking Britney was finally chasing cars at Grandma's with Heath Ledger.

Funny on IM, funny on here.


I thought it was a thread about body sculpters/rappers.

 

[Fenian_Bastard]

I'll take two out of three, thanks, and I've already tried the last one.

 

[BYH]

Yeah but Poin what percent ends up working in public schools and banging students?

 

[hockeybeat]

60 per cent of NBA players go broke five years after leaving the league

http://www.thestar.com/Sports/article/299119

If memory serves, SI had a feature on Ron Artest during his rookie year and how wildly he spent. Artest had a staff of about 22 people (family, friends, assorted hangers-on) that he was paying; some cooked, some cleaned, some advised while others were real-life versions of Entourage's Turtle.

Along with paying Team Artest, he was shelling out for cars, houses and various impulse buys from Best Buy. I believe there was a quote from his accountant, who said that Artest was going to end the year without a cent to his name.

 

[Stoney]

60 per cent of NBA players go broke five years after leaving the league

http://www.thestar.com/Sports/article/299119

If memory serves, SI had a feature on Ron Artest during his rookie year and how wildly he spent. Artest had a staff of about 22 people (family, friends, assorted hangers-on) that he was paying; some cooked, some cleaned, some advised while others were real-life versions of Entourage's Turtle.

Along with paying Team Artest, he was shelling out for cars, houses and various impulse buys from Best Buy. I believe there was a quote from his accountant, who said that Artest was going to end the year without a cent to his name.

Remember Patrick Ewing's eloquent plea for our sympathy during the 99 Players Strike: "Yeah, we make a lot, but we spend a lot too."

 

[hockeybeat]

60 per cent of NBA players go broke five years after leaving the league

http://www.thestar.com/Sports/article/299119

If memory serves, SI had a feature on Ron Artest during his rookie year and how wildly he spent. Artest had a staff of about 22 people (family, friends, assorted hangers-on) that he was paying; some cooked, some cleaned, some advised while others were real-life versions of Entourage's Turtle.

Along with paying Team Artest, he was shelling out for cars, houses and various impulse buys from Best Buy. I believe there was a quote from his accountant, who said that Artest was going to end the year without a cent to his name.

Remember Patrick Ewing's eloquent plea for our sympathy during the 99 Players Strike: "Yeah, we make a lot, but we spend a lot too."

This is one of my favorite anecdotes about Artest. Apparently, during his rookie season he was spending a ton of money at Best Buy. During one of his excursions, he chatted up a store employee who told him Best Buy employees get a discount on merchandise. So Artest filled out an application and under references listed Jerry Krause, then the Bulls' GM. A week or two later, the Best Buy store manager called Krause, asking for a reference.

 

[mike311gd]

I've got four people on my payroll. One person cooks, another cleans, some dude starts my car and the other lady wipes my ass. Sure, it gets pricey after a while. But when you've had someone clean your ass for you, how can you back to doing it yourself? It's just not feasible.

 

[BYH]

I've got four people on my payroll. One person cooks, another cleans, some dude starts my car and the other lady wipes my ass. Sure, it gets pricey after a while. But when you've had someone clean your ass for you, how can you back to doing it yourself? It's just not feasible.

You can't fend for a fifth to **** you once a week?

You suck Mikey.

 

[You're With Me Leather]

I've got four people on my payroll. One person cooks, another cleans, some dude starts my car and the other lady wipes my ass. Sure, it gets pricey after a while. But when you've had someone clean your ass for you, how can you back to doing it yourself? It's just not feasible.

You can't fend for a fifth to **** you once a week?

You suck Mikey.

Or once a year?

 

[TheSportsPredictor]

The 60% number is just something the players union threw out to scare people. There is no basis to it. The union rep quoted in the article even backs off that number.

I'm sure if anyone did any real investigating of this claim they'll find out how outlandish it is.

 

[Baron Scicluna]

Wasn't Kenny Anderson also the one who, during the strike, complained that he had to cut down on his "walking around money", which was something like $20,000?

 

[expendable]

raise your hand if you clicked here thinking Britney was finally chasing cars at Grandma's with Heath Ledger.

I thought it was JDV's latest video.

 

[Starman]

The 60% number is just something the players union threw out to scare people. There is no basis to it. The union rep quoted in the article even backs off that number.

I'm sure if anyone did any real investigating of this claim they'll find out how outlandish it is.

And the response of 97% of the public will be: Touuggggggghhhhhhhhhhh shiiiiiiiittttttttttttt.

 

[Bill Brasky]

60 per cent of NBA players go broke five years after leaving the league

http://www.thestar.com/Sports/article/299119

Not surprising. Those are young guys who aren't savvy about money. They're probably all trying to live like they're in a Jay-Z video while getting their pockets picked by crooks, hangers-on and baby mamas. I'm sure the numbers are damn near the same for all pro athletes and entertainers who hit it big. I remember years ago there was a story about how Jack Clark, the former baseball player was broke, despite being a solid pro for a long time...he had a dozen luxury cars.
The unions ought to offer mandatory classes on how to handle that kind of money...or have an approved list of financial advisors.

 

[GB-Hack]

I'm pretty sure the NBA and NFL both offer such classes nowadays to incoming rookies.

Now, it doesn't guarantee they'll follow the advice, but they are trying.

 

[buckweaver]

I can tell you that MLB has had classes like that for years.

In fact, there's all kinds of orientation for youngsters offered by the leagues -- up to and including why a player should learn to develop a "baseball" signature (that's noticeably different from his legal signature) and why he shouldn't ever sign his autograph on a notecard (too easy for identity theft).

And these things were being taught to rookies 40 years ago.

 

[Shaggy]

This doesn't surprise me. Handing millions of dollars to a 22-year old punk who strives to be the most ridiculous episode of Cribs? Good luck with all that.

You really expect him to invest 20 percent of that dough in stocks and 401k's? How's that supposed to make his **** feel bigger?

 

[Trey Beamon]

I figured this was a Paris Hilton thread.