athletes and money

[PJpenny]

i was reading up a news piece on Allen Iverson and his home about to foreclose, and all his past problems. Ive heard reports of where his money has gone over the years, including money paid to his entourage, jewelry, and other expensive items. Makes me wonder about the big picture with athletes and their irrisponsible behavior with money that leads them to bankruptcy. Allen Iverson is not the first one to go into bad situations, so how is it that no one ever learns from others past mistakes? Could part of it be many of the high paid ones spent so much time trying to outdo each other with the fancy bling and gadgets or they just dont know better until they hit rock bottom, or other reasons. Warren Sapp going bankrupt surprised me when that story came out.

 

[STDiva]

Those who grow up with no money won't know how to handle it when they get some. These guys who waste milliones are pathetic.

 

[PJpenny]

One of the things ive never gotten is why these rich guys have to throw tens of thousands into items they dont need. Why does anyone need 4 cars, or a mansion wiith more space than they know what to do with, or any other needless items where the money invested in those could go toward other things that are really important to pay off.

 

[STDiva]

At the risk of stereotyping, you don't see this in hockey. It seems to be urban culture to flaunt what you got. I'd be interested to hear what these players have to say about their outrageous spending. Terrell Owens blamed everybody but himself. I.don't think most athletes realize how short a sports career really is, so they spend as if the income is endless.

 

[Luxman]

Shark Tank's Barbara Corcoran Gives Patrick Mahomes Advice After $503M Contract
https://bleacherreport.com/articles...es-patrick-mahomes-advice-after-503m-contract

"the actual value for Mahomes will be closer to $250 million because of taxes and insisted he shouldn't suddenly become everybody's financial backer. "

"every creep came out of the woodwork with a $10,000 problem. Everybody is after your money, and you can't trust anybody." "

"Let me tell you something: the more money you make, the more creeps you attract," Corcoran said. "The more people dressed in fancy suits, and not some fancy suit, friends or family—all come out and are after your money."

 

[donkeydungkong]

Too much money in a young persons hands with out the wisdom to temper its use is like dynamite.

 

[Johan]

Too much money in a young persons hands with out the wisdom to temper its use is like dynamite.

Particulary if they surround themselves with the wrong people. Even your own familly can be bad influence. They may have the best intentions it doesn't mean they will help you make the right choice for your money and your career.

 

[Señor Sarcasmo]

Agree that blowing it dumb purchases and things is their own fault, but I heard one player (TO?) say that people don't understand the lifestyle has to be maintained, landscapers, servants to look after a giant house and drivers agents publicists, etc. Big payroll, and they can't drive Hondas and wear Kohls, they have to be fashionable, plus live like a celebrity for Insta. Bali pictures and shit. It's easy to piss away he said.