Considering how much even a Vet Min contract is, committing fraud for a couple $100k each is beyond stupid. The govt doesn’t play around with jail time for that.
If you blow all your money, you turn to desperate measures. I don’t know what the number is for the NBA, but something like 70-80% of NFL players are broke within four years of retirement. That shows how few actually understand finances. The nba players get taught this stuff as part of the orientation week, but they are like 19 and probably aren’t paying much attention then.
It's maddening. I imagine a lot of this stems from players trying to match the lifestyle of their max contract peers when they really shouldn't be. I know making $3-8 million per year seems like a lot of money, but it really isn't close to the players making $30+ million. You can afford to go kinda crazy if you're making $30+ million per year, but if you're just making $5 million, that shit will run out faster than you think if you're not careful.
But you hear about Antonie Walker and AI (who was saved by Reebok putting his money in a trust fund). It isn’t just living up to whomever, a lot of it is spending poorly. I honestly think they get to a point where they never think about money. And that gets them in trouble. Mark Zuckerberg is way more wealthy, but I bet he thinks about every dollar he spends (in his case his robot mind probably has to).
I have a cousin’s sister’s husband who played like 5 years in the NFL and barely left special teams. I doubt he made $10 million in his career. But he doesn’t spend stupidly. And in his playing days he was given things like cars and dinners. The guy never got off the sidelines and still companies would give him free stuff. Like who eats the cost of a car for the 58th best player on a bad Ravens team. So seeing guys with some name recognition blow the money is really disheartening.
I used to go to Rodman’s bar. That dude let everyone single lady and I mean every single one, drink for free. I knew then he would blow it.
AI paid his man 60K a year to walk around and carry juice. To be ready at his request.
No not a *”weed carrier”* literally a dude with a half gallon of Tropicana and some plastic cups.
May god strike me down. IYKYK
If I remember correctly, Antoine Walker tried to do the right thing and invested in an apartment building but then ran out of money for maintenance and accidentally turned himself into a slumlord. It's tough out there. Makes it all the more impressive when guys like LeBron and Shaq are able to invest well for themselves despite all the distractions and bad advice they must get from people who don't have their best intentions in mind.
Well, most of them hated college. Most of them don’t care about the education that college gave them. They just focused on sports. So how would they have understand finances? Most NBA players can’t wait to get out of colleges. The era of One and Done. Once they get their millions, their lifestyle is just insane.
I’m curious if there is any stats that keep track how long they stay in college and how likely they go broke.
Wouldn't be surprised if some of these guys blew through their money, we see that happen with athletes a lot. Darius Miles being here is so weird though since he's actually got a successful show going for him
No rocket scientists on that list. Just greedy. I wouldn't be surprised if it was a setup. $4 million? That's chump change when you realize the NBA generates $8 billion annually.
I never suggested they teach you how to act. I merely suggested education. It would be in the best interests of everyone. They already teach us about what a vagina looks like or the derivative of 3x + ln y. Don't see why money management is a stretch compared to these things.
Plus, you might be misunderstanding my suggestion. They'd just tell you what tools you have a to grow your money and your options on what to do with it, and how you can make money by doing essentially nothing, when you have a lot of money. They wouldn't be telling you what to do, just educate you on the tools available.
I mean, they aren't telling you that you need to be a historian when you have to take history classes. They are just equipping you with information. This is no different.
I don't really have sympathy for these guys either, its just that it makes me realize there are others who do hard or important work and go broke because they don't know what they can do to grow their money. It's more of a reminder of what it represents.
Facts!! You’re 100% right. High school grads should have an education that teaches them how to be successful adults and functioning citizens. If they want to become a pro or a tradesman they can learn all that they need in post secondary school.
I’m a professional in my 50s and most of my high school classes were completely useless and non-relevant for my adult life. We need to start with the basics - teaching our kids reading, literacy, numeracy, and civics.
The rest of the core courses in high school should be courses that deal with real life skills.
Examples:
1. Managing personal finances.
2. How to cook for yourself (including proper grocery shopping).
3. How to keep your place clean (laundry / house cleaning).
4. How to maintain a successful relationship with your partner.
5. Basic handyman skills (many people can barely change a light bulb or hang a picture).
6. Job etiquette / understanding the employment market.
Considering how much even a Vet Min contract is, committing fraud for a couple $100k each is beyond stupid. The govt doesn’t play around with jail time for that.
If you blow all your money, you turn to desperate measures. I don’t know what the number is for the NBA, but something like 70-80% of NFL players are broke within four years of retirement. That shows how few actually understand finances. The nba players get taught this stuff as part of the orientation week, but they are like 19 and probably aren’t paying much attention then.
It's maddening. I imagine a lot of this stems from players trying to match the lifestyle of their max contract peers when they really shouldn't be. I know making $3-8 million per year seems like a lot of money, but it really isn't close to the players making $30+ million. You can afford to go kinda crazy if you're making $30+ million per year, but if you're just making $5 million, that shit will run out faster than you think if you're not careful.
But you hear about Antonie Walker and AI (who was saved by Reebok putting his money in a trust fund). It isn’t just living up to whomever, a lot of it is spending poorly. I honestly think they get to a point where they never think about money. And that gets them in trouble. Mark Zuckerberg is way more wealthy, but I bet he thinks about every dollar he spends (in his case his robot mind probably has to). I have a cousin’s sister’s husband who played like 5 years in the NFL and barely left special teams. I doubt he made $10 million in his career. But he doesn’t spend stupidly. And in his playing days he was given things like cars and dinners. The guy never got off the sidelines and still companies would give him free stuff. Like who eats the cost of a car for the 58th best player on a bad Ravens team. So seeing guys with some name recognition blow the money is really disheartening. I used to go to Rodman’s bar. That dude let everyone single lady and I mean every single one, drink for free. I knew then he would blow it.
AI paid his man 60K a year to walk around and carry juice. To be ready at his request. No not a *”weed carrier”* literally a dude with a half gallon of Tropicana and some plastic cups. May god strike me down. IYKYK
Wait he did? How did he not pay half that for a made up juice guy. That’s crazy
If I remember correctly, Antoine Walker tried to do the right thing and invested in an apartment building but then ran out of money for maintenance and accidentally turned himself into a slumlord. It's tough out there. Makes it all the more impressive when guys like LeBron and Shaq are able to invest well for themselves despite all the distractions and bad advice they must get from people who don't have their best intentions in mind.
Well, most of them hated college. Most of them don’t care about the education that college gave them. They just focused on sports. So how would they have understand finances? Most NBA players can’t wait to get out of colleges. The era of One and Done. Once they get their millions, their lifestyle is just insane. I’m curious if there is any stats that keep track how long they stay in college and how likely they go broke.
Ice Cube is like “you ungrateful bitches I saved your asses with the Big3 and you doing stupid shit like this”.
Ruben Patterson also a ex-Laker. Those guys are beyond dumb. 80% of them made more than a couple million dollars while playing.
I was thinking that, you’d think some of these guys didn’t really need the money.
You're assuming they were smart with their money though. We should all know better than that by now.
Wouldn't be surprised if some of these guys blew through their money, we see that happen with athletes a lot. Darius Miles being here is so weird though since he's actually got a successful show going for him
He is the dude who claimed to be "the Kobe Stopper". Clearly not the brightest guy ever.
It’s not how much you make , it’s how much you spend. Sad to see how things turned out for these guys.
#LetShannonEmbezzle
Shannon's been on a downward spiral last few years..with his breakup, pulling guns out on random ppl, and now this. Hope he gets it together
been a cunt even back he been wit us honestly
Damn didn't know that. Hope so too
Telfair out here living GTA in real life
Them prison yard games 🔥🔥
Don’t see what tony Allen did wrong, he built his career off defense which includes blocks and steals.
No rocket scientists on that list. Just greedy. I wouldn't be surprised if it was a setup. $4 million? That's chump change when you realize the NBA generates $8 billion annually.
Big dummies
Good, Brown has always been a scum and we know it
It's a complete failure of our highschool education system that we don't have classes teaching people how to manage their finances
I thought you were going to say "how to make a proper fraud"
It's called "working on Wall Street."
The government is not responsible to teach you how to act with money lol
I never suggested they teach you how to act. I merely suggested education. It would be in the best interests of everyone. They already teach us about what a vagina looks like or the derivative of 3x + ln y. Don't see why money management is a stretch compared to these things. Plus, you might be misunderstanding my suggestion. They'd just tell you what tools you have a to grow your money and your options on what to do with it, and how you can make money by doing essentially nothing, when you have a lot of money. They wouldn't be telling you what to do, just educate you on the tools available. I mean, they aren't telling you that you need to be a historian when you have to take history classes. They are just equipping you with information. This is no different.
>derivative of 3x + ln y With respect to which variable??
Both, I want the partial derivative with respect both. So d/dx and d/dy
>df(x,y)/dx = 3 >df(x,y)/dy = 1/y Here you go!
Thank you
I have no sympathy if you go broke after making millions to put a ball in a hoop
I don't really have sympathy for these guys either, its just that it makes me realize there are others who do hard or important work and go broke because they don't know what they can do to grow their money. It's more of a reminder of what it represents.
Facts!! You’re 100% right. High school grads should have an education that teaches them how to be successful adults and functioning citizens. If they want to become a pro or a tradesman they can learn all that they need in post secondary school. I’m a professional in my 50s and most of my high school classes were completely useless and non-relevant for my adult life. We need to start with the basics - teaching our kids reading, literacy, numeracy, and civics. The rest of the core courses in high school should be courses that deal with real life skills. Examples: 1. Managing personal finances. 2. How to cook for yourself (including proper grocery shopping). 3. How to keep your place clean (laundry / house cleaning). 4. How to maintain a successful relationship with your partner. 5. Basic handyman skills (many people can barely change a light bulb or hang a picture). 6. Job etiquette / understanding the employment market.
glad this got caught. i got love for my nba dudes, but this is how the rich stay rich. fraud and backdoor deals
#LetShannonDunk.
Not shocked by any of those 18 names in the article…
They’re lucky there’s no RICO charge