Adrian Peterson broke?

[52-80 19066]

2 hours ago, Vic Mackey said:

This is why I wonder how effective this rookie seminar actually is. Is it there only for show and the NFL can point and say 'hey look, we teach these guys' or do they actually attempt to teach these guys in ways they can understand. It's not even so much on how to invest your money but how to teach them about the leeches that are coming to come at them from all sides and this includes family and friends. That is where most of them get into debt. They have this trust with them prior and they think they have their best interest at heart but they only give a shit about their money. And it's easier said than done to tell someone to be weary of any family and friends especially after you have life long connections with them. Also learning how to say no. You can't help every single person who comes to you. I am on the outside looking in so I don't know how that is. Easy to say I'd do this or that from the outside but a lot of these players are thrown into a situation they are not fully capable of handling. The pros is vastly different from college. They no longer have that structure and can really do what they please.

I don't feel sorry for the ones who just blew their money on dumb shit or whatever but I do feel bad for the ones who are taken advantage of by people they trusted their whole lives. 

that's why it needs to be taught by someone they respect and relate to, like cris carter

 

 

 

[ChiTownDoc 21091]

2 hours ago, Vic Mackey said:

This is why I wonder how effective this rookie seminar actually is. Is it there only for show and the NFL can point and say 'hey look, we teach these guys' or do they actually attempt to teach these guys in ways they can understand. It's not even so much on how to invest your money but how to teach them about the leeches that are coming to come at them from all sides and this includes family and friends. That is where most of them get into debt. They have this trust with them prior and they think they have their best interest at heart but they only give a shit about their money. And it's easier said than done to tell someone to be weary of any family and friends especially after you have life long connections with them. Also learning how to say no. You can't help every single person who comes to you. I am on the outside looking in so I don't know how that is. Easy to say I'd do this or that from the outside but a lot of these players are thrown into a situation they are not fully capable of handling. The pros is vastly different from college. They no longer have that structure and can really do what they please.

I don't feel sorry for the ones who just blew their money on dumb shit or whatever but I do feel bad for the ones who are taken advantage of by people they trusted their whole lives. 

Say what you will, but the NBA is way ahead these days vs the NFL when it comes to protecting their players, financially and otherwise.  

[ButtFumble 5158]

Peterson owes, after interest and legal fees, $6.6 million to DeAngelo Vehicle Sales

That money was to help pay $3.2 million to Thrivest Specialty Funding

he must pay $2.4 million to Democracy Capital Corp

just doing the most simple of math he earned $100 million, take 10% "off top" for his agent and then even if you put a straight 40% tax in the $100 million (which is not really accurate with agents fees ect) still you are looking at $90 million (after agent 10%) - $40 million (in straight taxes on $100 million) = $50 million 

and again his taxes would not work like that exactly, but that is just a simple earnings - agent - top tax rate (top tax rate actually just under 40%)......but even giving him all the benefit of the doubt hat he "only" had $50 million of that to fuck off with still he fucked all that off and is somehow about $10 million IN DEBT it looks like.....even if you add in the fuckery of states charging NFL players income taxes even just for playing away games and state income taxes if you are dumb enough to domicile in a state with an income tax he still had about $50 million to fuck off with

no matter how regarded you are don't you have to kind of look in the mirror and think to yourself that you are a giant asshole when you are getting loans from DeAngelo Vehicle Sales, Thrivest Specialty Funding, and Democracy Capital Corp

the amazing thing to me is not that they just blow through the cash or that they even end up in debt it is the dumb shit they do financially in the way of loans and other stupid shit even when they are still playing......they are still earning money and shitting it away and they can't wake up and stop doing it instead they double down and take out high interest loans

I have to blame the court system as well they give these massive baby momma settlements to all these dirty leg whores which I am OK with making them pay for their fun babies, but these whores are generally as irresponsible with the money if not more so thinking "well at least the kids are getting some instead of dumb ass wasting it" is just wishful thinking because the money just goes to a different dumb ass that waste it and then drags the motherfucker back to court to try and get more

once the courts get involved the money needs to go into some annuities that neither of the breeders can touch (or get a loan against) and that the fun baby can't touch until they are about 30.....then when they are 30 they can decided if their broke ass dad or mom is worth taking care of with their annuity payout

plus a bit off topic, but I am not a big fan of the idea that because a parent is rich the kid deserves a rich level of support that makes a lot of these athletes targets I think a much better idea is set an amount (a pretty high one) that it cost to pay for a kid and then do the best you can to hit that amount including the above annuity that pays that amount monthly then the parent can decide if they want their kid to lead a richer life style.....but one baby momma (or more) does not need to have HER lifestyle subsidized because she managed to get fucked raw by someone that is rich the rich parent needs to have a say in the lifestyle of their child after a HIGH minimum level of support is funded

if the baby momma does not like that idea then here is an idea don't let ain't shit rich guys fuck you raw you stupid whore

 

5 hours ago, GhostOfTomJoad said:

Maybe Peterson did some local ads while playing for the vikes but I was always kinda surprised by his lack of high profile endorsements. Probably because he cant count to potato.

He'll at least be eligible for a nice NFL pension in about 20 years. Should pay him about half mil a year after a 12 year career. But I bet he sells out that annuity for pennies on the dollar for cash today. Then he'll open up a sports bar or a custom car audio shop.

someone already beat me to it, but you know that JG Wentworth is blowing his beeper up

[honolulu horn 6156]

3 hours ago, Vic Mackey said:

I do feel bad for the ones who are taken advantage of by people they trusted their whole lives. 

Funny, I feel bad for the children who are taken advantage of by fathers they trusted their whole lives.

Fuck that guy.

[Slacks 6791]

Say what you will, but the NBA is way ahead these days vs the NFL when it comes to protecting their players, financially and otherwise.  

fewer players with more money actually makes it a bit easier....

also, I'm pretty sure basketball players have more sense than football players... I mean, the choice to play football requires a lot of don't give a duck.

[GhostOfTomJoad 9302]

There's almost nothing the NFL or NFLPA can do to help teach the players how not to be idiots with their money. Nothing's going to change. Doesn't mean I can't shake my head, laugh & say "what a dumbass" at these guys.

[MirrOlure 14607]

I’m sure 3/4’s of them don’t understand the financial presentation at all. Like Chad “OchoCinco” not understanding compound interest during the Cincinnati Hard Knocks  season. Might as well quote Socrates in the the original Greek for the all comprehension going on during the  rookie seminars. 

I mean, if you break it all down, it’s really pretty simple:

[Nice Guy Eddie 13391]

Never understand why people that have hit the jackpot (career, start-up, lottery) feel they need to turn all of that money into another jackpot by risky investments.  Look into wealth preservation.  Of course the money is invested at some level but the goal isn’t 100x and it’s associated risks.  

Finally pay cash for everything, or pay everything off each month.  Athletes should never finance anything as they never know when it will end.  If the house and cars are paid off when the career ends at 30, you’re ahead of the game.

[AUS-97HORN 11654]

1 hour ago, GhostOfTomJoad said:

There's almost nothing the NFL or NFLPA can do to help teach the players how not to be idiots with their money. Nothing's going to change. Doesn't mean I can't shake my head, laugh & say "what a dumbass" at these guys.

The only thing that will work is (and it would require the NFLPA to sign off on it) is to have 2 different things working at once, and effectively force 5% of every players paycheck to be mandator-ily set aside into a series of annuities. And another 1-2% of their paycheck forced into an IRA (of which the NFL will match 100% of all funds deposited into the IRA up to the IRS limits)

The NFL pays a 3rd party to run the annuity system, the funds are guaranteed secured (by the NFL) with something like a 6.5-7% interest rate.

And the players cant touch the money for at least 3 years after their last paycheck received from the NFL.  The only exception would be players not on the official 53 man roster (practice squad guys), since they might only make 4-8 weekly checks before being cut.

 

Im not saying its a perfect system, and it reeks of forced socialism, but its become so obvious that a huge portion (isnt the stat 78% are broke in 2 years?)  of the players are beyond incompetent with their money and like it or not the NFL owes it to these players to try and keep them from becoming this same headline we read every single year where a player who made tens of millions of dollars over 5,8,12 years is literally dead broke the first year out of the league.

another thing the NFL should really do is tell the rookies that the NFL is giving each of them a fiduciary financial advisor, and the NFL is paying the financial advisor fees for the rookies for their first 5 years in the league.

That really shouldnt cost the league much to do, and it would cut out so many Uncle Rico situations that are a huge portion of the problem. 

 

The AD is broke story has the same underlying tone of the VY is broke story, they both trusted a family member with all their funds, and in a shocking turn of events, that family member had no issue taking $50k here and there for themselves because "they earned it" and "they helped the athlete for years before he was famous"

[52-80 19066]

9 minutes ago, Nice Guy Eddie said:

Never understand why people that have hit the jackpot (career, start-up, lottery) feel they need to turn all of that money into another jackpot by risky investments.

long answer short, theyre ignorant and stupid

[closetojumping 62132]

7 minutes ago, Nice Guy Eddie said:

Never understand why people that have hit the jackpot (career, start-up, lottery) feel they need to turn all of that money into another jackpot by risky investments.  Look into wealth preservation.  Of course the money is invested at some level but the goal isn’t 100x and it’s associated risks.  

Finally pay cash for everything, or pay everything off each month.  Athletes should never finance anything as they never know when it will end.  If the house and cars are paid off when the career ends at 30, you’re ahead of the game.

When one comes from the gutter and makes it big somehow, they’re then living with the notion that even if they lost it all, they’d just be back to where they were in the first place. So, shit, they can just do it again, right?

Starting socioeconomic point matters in terms of how someone views their latest financial position. Chunking it all on a game of craps isn’t exciting, but doubling what you have really is. If you’re poor and then make a bunch of money really young, you have to guard against those instincts, which are self-destructive yet extremely alluring.  This is the part of the problem for successful athletes who grew up poor that is pretty much a preconditioned subconscious problem that they’re not going to get any help on from anyone in the cycle, solid advisors included. It’s an enemy within. 

[GhostOfTomJoad 9302]

Another key point made in the 30 for 30 episode Broke was how the ultra-competitive, alpha dog atmosphere in the locker rooms contributed to so many dumb decisions by pro athletes. Many of them can't just look at a teammate's new car or fancy watch and say "hey, that's really nice." They go out the next day and buy something bigger, fancier & more expensive. Their mindset is such that it will be seen as a sign of weakness if they don't flash more bling.

Crazy, I know, but it happens in the white collar c-suite world, too.

[ButtFumble 5158]

37 minutes ago, Nice Guy Eddie said:

Never understand why people that have hit the jackpot (career, start-up, lottery) feel they need to turn all of that money into another jackpot by risky investments.  Look into wealth preservation.  Of course the money is invested at some level but the goal isn’t 100x and it’s associated risks.  

Finally pay cash for everything, or pay everything off each month.  Athletes should never finance anything as they never know when it will end.  If the house and cars are paid off when the career ends at 30, you’re ahead of the game.

I think a lot of it is basic financial illiteracy and financial ignorance combined with a "balla" attitude where being a "balla" means you just over pay for everything because that shows everyone you are rich

you get a $3 million check right up front for a signing bonus and the first thing you want to do is buy yourself a $2 million dollar house and mom a $1 million dollar house.....but of course your advisor (also a fucking moron) tells you that paying cash leaves you broke so you need to finance them.....normally that would not be terrible advice, but you have shit credit, you just got your first pay check ever and your shit credit and lack of income gets you an 8% loan on that $3 million worth of houses

you put 5% down because your shit advisor has no clue about mortgage insurance and the cost of that so there is another shit tonne of money you are paying until you get 20% equity and have the PMI removed (which you never do because the do not remove it automatically and you don't even have a clue what it is)

you know jack shit about property taxes (or income taxes) because no one in your family has ever paid them......you probably fuck up some how and either put both houses in your name or mom keeps her old shitty house in her name (if she had one) and so you can't homestead one of those properties so you pay a shit tonne more taxes on it as well

you have no clue what it cost to heat and cool homes that size or maintain the pool and the lawn and most of the people you hire to do that at first realize you are a fucking financial chump and over charge the shit out of you because you will probably not figure it out before you are broke anyway or even if you do they will have made so much that losing your business eventually will still be worth it

so right there you probably shitted away $1 million to $1.5 million between the PMI, taxes you over pay, the high loan rate that you never refinance if you get your credit together, and all the cost of shit you pay in services

if you had just put that $3 million in the bank and waited 6 months you might have made 2% on it (which sucks but still), you could get a decent credit score, find a realtor worth a fuck, get a decent mortgage, put 20% down and maybe just buy mom a $500,000 house and store most of your shit there while you rent somewhere (for a reasonable price) and figure out if you are even going to last in the league past your first contract

do the same dumb ass shit on a car......you just walk into the dealer and you HAVE TO HAVE IT.....you "ballin" and people that ball do not negotiate prices on shit that is what the poors do so you pay list price for that G Wagon with a bunch of dumb ass shit tacked onto it, high ass dealer prep and other made up fees and then the slut you are fucking backs it into a pole at the C Store 5 weeks later and ballas do not drive wrecked cars so you trade it in on the Porsche she always liked better anyway and take a $60,000 hit on that 5 week car ownership escapade and of course with the high end Porsche you know nothing about the maintenance cost and you pay full list when you do get anything done except you skip the major 20,000 mile service because you just have no clue about that and when you go to trade it in a year later you get fucked another $60,000 on that deal because you have oil changes, bald tires and no major service records

you pay $100,000 for that panther necklace with $20,000 worth of metal and stones in it and $80,000 of labor (to make something that no one else on earth would wear) and when you get traded well it has to be redone into a dolphin or bronco or seahawk or you just sell it to the cash for gold guy for scrap value

$100,000 on a Vegas weekend where you buy your crew all kinds of dumb shit, another $100,000 on one with bottle service, and another $100,000 on one where your boiz had a "system" that always wins.....well there goes $300,000

you have never run a business in your life and look at everyone that works at a restaurant as the poors and dumb as service job fucks so how hard could that shit be so your idiot relative takes $100,000 for a wing restaurant or $300,000 for a sports bar

just day in and day out you have a $100 target on your back and week in and week out a $1,000 to $10,000 target on your back for dumb ass shit that you buy or pay for because that is what ballas do they ball

a few of your advisors fuck you for $100,000 each or more

knock up a few sluts

you wake up three years later and you still have a massive mortgage on a home full of big screen TVs, tiger skin paint on the walls and zebra carpet (that people probably put their kools out on), your pool is fucking green, your lawn looks like shit, your mom took a second mortgage on the house you bought her somehow (probably your fucked up financial advisor slipped that paper work in on you), you have huge car payments on thrashed out cars worth 35% of what you paid for them and less than you owe

you have just pissed through $5,000,000 in no time just getting fucked $100 a day, $1,000 to $10,000 a week on random shit, fucking off $100,000 a pop on cars and jewelry and suits and cloths, getting fucked massively on your homes and home loans, missing your tax bills and the shitty investments on stupid shit that you think regarded people run like restaurants and clubs

shit you would stand a better chance going for the 20X return on some shitty stock vs doing all the shit above

[GhostOfTomJoad 9302]

Plus the fact most 1st and 2nd round picks are tens of thousands of dollars in debt to their agents before they're even drafted! They set them up with lines of credit (at who knows what APR) just so they can walk across the stage in one of the $5K suits they had made, plus another $10K in bling. And let's not forget the threads for the family. Living expenses, party life, etc and they're in a sizable hole before they ever get their first check.

[justhookit 4174]

14 minutes ago, GhostOfTomJoad said:

Plus the fact most 1st and 2nd round picks are tens of thousands of dollars in debt to their agents before they're even drafted! They set them up with lines of credit (at who knows what APR) just so they can walk across the stage in one of the $5K suits they had made, plus another $10K in bling. And let's not forget the threads for the family. Living expenses, party life, etc and they're in a sizable hole before they ever get their first check.

Uh, they are getting set up with these loans WAY before the draft and way before they are in  (legal) contact with any agent.

[HornsOverIthaca 2333]

1 hour ago, ButtFumble said:

I think a lot of it is basic financial illiteracy and financial ignorance combined with a "balla" attitude where being a "balla" means you just over pay for everything because that shows everyone you are rich

you get a $3 million check right up front for a signing bonus and the first thing you want to do is buy yourself a $2 million dollar house and mom a $1 million dollar house.....but of course your advisor (also a fucking moron) tells you that paying cash leaves you broke so you need to finance them.....normally that would not be terrible advice, but you have shit credit, you just got your first pay check ever and your shit credit and lack of income gets you an 8% loan on that $3 million worth of houses

you put 5% down because your shit advisor has no clue about mortgage insurance and the cost of that so there is another shit tonne of money you are paying until you get 20% equity and have the PMI removed (which you never do because the do not remove it automatically and you don't even have a clue what it is)

you know jack shit about property taxes (or income taxes) because no one in your family has ever paid them......you probably fuck up some how and either put both houses in your name or mom keeps her old shitty house in her name (if she had one) and so you can't homestead one of those properties so you pay a shit tonne more taxes on it as well

you have no clue what it cost to heat and cool homes that size or maintain the pool and the lawn and most of the people you hire to do that at first realize you are a fucking financial chump and over charge the shit out of you because you will probably not figure it out before you are broke anyway or even if you do they will have made so much that losing your business eventually will still be worth it

so right there you probably shitted away $1 million to $1.5 million between the PMI, taxes you over pay, the high loan rate that you never refinance if you get your credit together, and all the cost of shit you pay in services

if you had just put that $3 million in the bank and waited 6 months you might have made 2% on it (which sucks but still), you could get a decent credit score, find a realtor worth a fuck, get a decent mortgage, put 20% down and maybe just buy mom a $500,000 house and store most of your shit there while you rent somewhere (for a reasonable price) and figure out if you are even going to last in the league past your first contract

do the same dumb ass shit on a car......you just walk into the dealer and you HAVE TO HAVE IT.....you "ballin" and people that ball do not negotiate prices on shit that is what the poors do so you pay list price for that G Wagon with a bunch of dumb ass shit tacked onto it, high ass dealer prep and other made up fees and then the slut you are fucking backs it into a pole at the C Store 5 weeks later and ballas do not drive wrecked cars so you trade it in on the Porsche she always liked better anyway and take a $60,000 hit on that 5 week car ownership escapade and of course with the high end Porsche you know nothing about the maintenance cost and you pay full list when you do get anything done except you skip the major 20,000 mile service because you just have no clue about that and when you go to trade it in a year later you get fucked another $60,000 on that deal because you have oil changes, bald tires and no major service records

you pay $100,000 for that panther necklace with $20,000 worth of metal and stones in it and $80,000 of labor (to make something that no one else on earth would wear) and when you get traded well it has to be redone into a dolphin or bronco or seahawk or you just sell it to the cash for gold guy for scrap value

$100,000 on a Vegas weekend where you buy your crew all kinds of dumb shit, another $100,000 on one with bottle service, and another $100,000 on one where your boiz had a "system" that always wins.....well there goes $300,000

you have never run a business in your life and look at everyone that works at a restaurant as the poors and dumb as service job fucks so how hard could that shit be so your idiot relative takes $100,000 for a wing restaurant or $300,000 for a sports bar

just day in and day out you have a $100 target on your back and week in and week out a $1,000 to $10,000 target on your back for dumb ass shit that you buy or pay for because that is what ballas do they ball

a few of your advisors fuck you for $100,000 each or more

knock up a few sluts

you wake up three years later and you still have a massive mortgage on a home full of big screen TVs, tiger skin paint on the walls and zebra carpet (that people probably put their kools out on), your pool is fucking green, your lawn looks like shit, your mom took a second mortgage on the house you bought her somehow (probably your fucked up financial advisor slipped that paper work in on you), you have huge car payments on thrashed out cars worth 35% of what you paid for them and less than you owe

you have just pissed through $5,000,000 in no time just getting fucked $100 a day, $1,000 to $10,000 a week on random shit, fucking off $100,000 a pop on cars and jewelry and suits and cloths, getting fucked massively on your homes and home loans, missing your tax bills and the shitty investments on stupid shit that you think regarded people run like restaurants and clubs

shit you would stand a better chance going for the 20X return on some shitty stock vs doing all the shit above

This is great financial advice and all, but using the shift key to capitalize isn’t going to hurt any one financially.  Unless there’s something I don’t know...

[Gene Parmesan 3992]

I imagine the rookie symposium is probably more geared for the average NFL player.  The guys that aren't going to get big contracts and their already short careers can end at any second.  It takes a special kind of stupid to blow through 100mm dollars.  That kind of stupid can't be fixed.   

[Nice Guy Eddie 13391]

It is easy to point to dumb athletes but you see similar cases in entertainment where actors or musicians lose everything in bad investments or overspending.   Look at Nicholas Cage, Willie Nelson, Johnny Depp.  The one aspect that they have going for them is that they can still find methods of earning more money, and potentially even become more financially successful later in their life.

As for ideas on withholding more of an athlete's current pay for future payouts, I don't know if you can really prevent someone from getting to their income. If my employer came to me and said that they decided it was better to have an additional 10% withheld that I would get in the future, I would have a problem with that.   I suppose you could create a larger retirement fund for athletes and require more funding to it.  However even raising their annual retirement check from 40K to 80K isn't going to help the broke 35 year old when the payout starts at 55.

And you couldn't prevent the athlete from selling this future income for money today which may even be worse for them.  This is basically what some of the athletes do today.  Peterson borrowed money and I imagine part (all?) of the collateral is future income.  You have to guess the cost of that loan is high given the chance he cannot earn that income due to injuries.

[Vic Mackey 46919]

9 hours ago, ChiTownDoc said:

Say what you will, but the NBA is way ahead these days vs the NFL when it comes to protecting their players, financially and otherwise.  

Are you speaking on their guaranteed contracts aspect? Definitely agree with that. Same as MLB. All their contracts are guaranteed. Meaning these players have more peace of mind than players in the NFL who can be cut at any time and not owed anything except the guaranteed portion of whatever they have on their contract.

But the NFLPA is a weak ass union. Maybe once their CBA expires after 2020 season, they can finally get some changes to help the players.

I wonder the difference in percentage of players who go broke after their time in the NBA/MLB vs the NFL. 

[Dennis Taylor 18679]

they should all ask for this guy's deal

 

 

[Gene Parmesan 3992]

1 hour ago, Vic Mackey said:

Are you speaking on their guaranteed contracts aspect? Definitely agree with that. Same as MLB. All their contracts are guaranteed. Meaning these players have more peace of mind than players in the NFL who can be cut at any time and not owed anything except the guaranteed portion of whatever they have on their contract.

But the NFLPA is a weak ass union. Maybe once their CBA expires after 2020 season, they can finally get some changes to help the players.

I wonder the difference in percentage of players who go broke after their time in the NBA/MLB vs the NFL. 

The NFL has got to lead the way by a large margin there.  Larger rosters create a lower average salary and the game creates shorter careers.  The NBA may do a better job educating their players, but those players also start in a much better position with longer careers and better pay.

[pops 6972]

I'm too lazy to look it up, but wasn't it Shaq that didn't touch a dollar of his paychecks and just lived off his endorsement money?  

I know the pga tour takes a pretty decent percentage of all checks (at least 10%) and throws it in an annuity that the players can't touch until some certain date. That's basically why John daily will still be able to eat in a few years. 

The NFL just flat out needs to do a better job for their players. Yeah yeah personal responsibility and all that but most of these kids are just that.... Kids. They've never had a dollar and have no idea how it works. Plus, most of the really great ones have never even had to try and learn anything. They were playing varsity in 9th grade and that was it. 

It is ridiculous that AP blew through 10 percent of a billion dollars and owes money to basically payday lenders. Fuck Oklahoma. Fuck all sooners, but that's on the system that allowed that to happen. 

[clapclapclap 9000]

Adrian Peterson broke

And I bet he's out of warranty.

 

"Forget the lamp, ashtray, and chair, all I need is this paddle game."

[Aqua Buddha 14489]

12 hours ago, Vic Mackey said:

This is why I wonder how effective this rookie seminar actually is. Is it there only for show and the NFL can point and say 'hey look, we teach these guys' or do they actually attempt to teach these guys in ways they can understand. It's not even so much on how to invest your money but how to teach them about the leeches that are coming to come at them from all sides and this includes family and friends. That is where most of them get into debt. They have this trust with them prior and they think they have their best interest at heart but they only give a shit about their money. And it's easier said than done to tell someone to be weary of any family and friends especially after you have life long connections with them. Also learning how to say no. You can't help every single person who comes to you. I am on the outside looking in so I don't know how that is. Easy to say I'd do this or that from the outside but a lot of these players are thrown into a situation they are not fully capable of handling. The pros is vastly different from college. They no longer have that structure and can really do what they please.

I don't feel sorry for the ones who just blew their money on dumb shit or whatever but I do feel bad for the ones who are taken advantage of by people they trusted their whole lives. 

It's easy to forget that most of these guys are early to mid 20's and lord knows the bad decisions I'd have made with millions at 24 and I came from a solid family and had a college education.  

In Peterson's case, he's 34 at this point and a lot his problems seem to be repeats.....

[ChiTownDoc 21091]

1 hour ago, Vic Mackey said:

Are you speaking on their guaranteed contracts aspect? Definitely agree with that. Same as MLB. All their contracts are guaranteed. Meaning these players have more peace of mind than players in the NFL who can be cut at any time and not owed anything except the guaranteed portion of whatever they have on their contract.

But the NFLPA is a weak ass union. Maybe once their CBA expires after 2020 season, they can finally get some changes to help the players.

I wonder the difference in percentage of players who go broke after their time in the NBA/MLB vs the NFL. 

Guaranteed contracts are a big part of it.  But just in general it’s a players league.  They call a lot of the shots.  The owners consider the stars equals to themselves.  The NFL is miles from that.  

[Aqua Buddha 14489]

4 minutes ago, pops said:

I'm too lazy to look it up, but wasn't it Shaq that didn't touch a dollar of his paychecks and just lived off his endorsement money?  

I know the pga tour takes a pretty decent percentage of all checks (at least 10%) and throws it in an annuity that the players can't touch until some certain date. That's basically why John daily will still be able to eat in a few years. 

The NFL just flat out needs to do a better job for their players. Yeah yeah personal responsibility and all that but most of these kids are just that.... Kids. They've never had a dollar and have no idea how it works. Plus, most of the really great ones have never even had to try and learn anything. They were playing varsity in 9th grade and that was it. 

It is ridiculous that AP blew through 10 percent of a billion dollars and owes money to basically payday lenders. Fuck Oklahoma. Fuck all sooners, but that's on the system that allowed that to happen. 

Don't think Shaq did that but with all of his endorsements, he either takes shares in the company or invests in it himself.  Shaq has a fuckload of money at this point.

I know Gronkowski lives off one and saves the other as do a few other players.  Not a bad strategy.

[clapclapclap 9000]

8 minutes ago, ChiTownDoc said:

Guaranteed contracts are a big part of it.  But just in general it’s a players league.  They call a lot of the shots.  The owners consider the stars equals to themselves.  The NFL is miles from that.  

*governors

NBA stopped using term 'owner' in favor of 'governor,' Adam Silver says

Edited July 25, 2019 by clapclapclap

[Vic Mackey 46919]

19 minutes ago, ChiTownDoc said:

Guaranteed contracts are a big part of it.  But just in general it’s a players league.  They call a lot of the shots.  The owners consider the stars equals to themselves.  The NFL is miles from that.  

NBA is just a different animal. The rosters are much smaller and it will always be a superstar league. This plays apart in it. Also, the social media presence is much better in the NBA. They allow their players to be themselves. NFL is much more strict and I have no idea why.

[Brothahorn 10085]

At some point no matter where you came from, you need to stop being a financial dumbass. The union and league have done  more than enough to put these idiots on the right path. It's not about more education or programs. It's about dumb muthafucka's and their lifestyle. 

Hell, just your invest money with Lincoln or EF Hutton. 

[Don Johnson 4744]

2 hours ago, Dennis Taylor said:

they should all ask for this guy's deal

 

 

What's funny about that is that it was the player making the smart choice, so that the rich owner could make an investment with a crook who stole his money (Madoff).

Edited July 25, 2019 by Don Johnson

[ChiTownDoc 21091]

Just had a few sunday funday beers with Pierre Thomas.  Guy is the polar opposite of Adrian.  Honestly, I don't recall talking about football too often.  Casual friends, not claiming to be his BFF but we know each other.  As far as the conversation it's usually just ass or whatever small business deals he's doing, not NFL war stories.  But I brought up Adrian and the whole going broke thing.  As we guessed, he's just like Adrian didn't listen to the million people who tried to steer him in the right direction. 

But what was interesting is how Thomas, who's a very bright articulate guy, was all in on the NFL having the 'owner's mentality' vs the NBA where players are allowed and even encouraged to express themselves.  Anyways, he probably made 25% of what AD did (at best) and is still pretty much set from what it looks like.  Had a g shock watch and has a house that he's doing all the renovations on his own - learning on the fly.  I guess as BrothaHorn said above, you can only idiot proof an adult so well.  At some point if that person insists, he's going to royally fuck things up.  

[MNLonghornFUKM 8799]

they should all ask for this guy's deal
 
 

He should be in the hall of fame for that contract alone. Genius

[Johnny Sack 8397]

On 7/24/2019 at 6:29 PM, GhostOfTomJoad said:

Maybe Peterson did some local ads while playing for the vikes but I was always kinda surprised by his lack of high profile endorsements. Probably because he cant count to potato.

He'll at least be eligible for a nice NFL pension in about 20 years. Should pay him about half mil a year after a 12 year career. But I bet he sells out that annuity for pennies on the dollar for cash today. Then he'll open up a sports bar or a custom car audio shop.

Don’t think he can sell his pension.  Because of ERISA it is exempt from judgment.  So no one is going to lend him anything on it.  He will be broke until he’s 55.  

[Johnny Sack 8397]

On 7/24/2019 at 11:53 PM, ChiTownDoc said:

Him and Vince are brothers from another mother. Oh and I know Vince won a title.  But Adrian will be an NFL HOF.  As a fan give me a title 100x out of 100.  

But you can bet your ass most players will take NFL HOF vs college title. 

But again, two subpar brains.  

Edit:  Adrian = idoit 

Except Vince didn’t father 9 kids with 7 different women that he cannot support and doesn’t visit (most of them) except to throw an occasional beating.   

[Johnny Sack 8397]

On 7/25/2019 at 9:09 AM, Vic Mackey said:

Are you speaking on their guaranteed contracts aspect? Definitely agree with that. Same as MLB. All their contracts are guaranteed. Meaning these players have more peace of mind than players in the NFL who can be cut at any time and not owed anything except the guaranteed portion of whatever they have on their contract.

But the NFLPA is a weak ass union. Maybe once their CBA expires after 2020 season, they can finally get some changes to help the players.

I wonder the difference in percentage of players who go broke after their time in the NBA/MLB vs the NFL. 

The NFLPA isn’t weak because of poor leadership.  Which they do have.  It’s weak because the players have zero leverage.  If the players strike, the owners can hire replacements.  The loss of ticket sales is actually more than made up by the huge reduction in salaries.  And tv deals are guaranteed.  So the owners actually make more money if there is a strike.  

NBA and MLB are different.  They have a lot more games.  So ticket revenue is a much bigger piece of the pie.  Players also have longer careers in those sports.  So while losing a season hurts, it isn’t like the NFL where the average player is losing a quarter of their career earnings. 

[Johnny Sack 8397]

9 hours ago, ChiTownDoc said:

Just had a few sunday funday beers with Pierre Thomas.  Guy is the polar opposite of Adrian.  Honestly, I don't recall talking about football too often.  Casual friends, not claiming to be his BFF but we know each other.  As far as the conversation it's usually just ass or whatever small business deals he's doing, not NFL war stories.  But I brought up Adrian and the whole going broke thing.  As we guessed, he's just like Adrian didn't listen to the million people who tried to steer him in the right direction. 

But what was interesting is how Thomas, who's a very bright articulate guy, was all in on the NFL having the 'owner's mentality' vs the NBA where players are allowed and even encouraged to express themselves.  Anyways, he probably made 25% of what AD did (at best) and is still pretty much set from what it looks like.  Had a g shock watch and has a house that he's doing all the renovations on his own - learning on the fly.  I guess as BrothaHorn said above, you can only idiot proof an adult so well.  At some point if that person insists, he's going to royally fuck things up.  

There are plenty of good examples.  Aaron Glenn has made a ton of money with his real estate deals.  He’s very sharp.  They are the exception though.  Most end up broke and waiting for their pension to kick in at 55.  Ray Childress is broke as shit.  Had to get off a deer lease of a ranch I know the owner of because he couldn’t cover his 1/8 share of the lease. Also had to sell his interest in the Texans.  Lost his money on car dealerships and cows. 

[ChiTownDoc 21091]

4 minutes ago, Johnny Sack said:

There are plenty of good examples.  Aaron Glenn has made a ton of money with his real estate deals.  He’s very sharp.  They are the exception though.  Most end up broke and waiting for their pension to kick in at 55.  Ray Childress is broke as shit.  Had to get off a deer lease of a ranch I know the owner of because he couldn’t cover his 1/8 share of the lease. Also had to sell his interest in the Texans.  Lost his money on car dealerships and cows. 

‘Most’ don’t end up broke these days.  It’s because you only here those stories.  Or usually only hear those...

I’m not talking about journey men who make min wage over 4-5 years or even have a million bonus...guys who made 20M+

And your Vince didn’t blah blah blah.  I’d rather a guy have kids with whatever number of women vs drive drunk multiple times. Either way, quit acting like they’re so different (other than the ‘ship - that’s a big difference).  

[Johnny Sack 8397]

22 minutes ago, ChiTownDoc said:

‘Most’ don’t end up broke these days.  It’s because you only here those stories.  Or usually only hear those...

I’m not talking about journey men who make min wage over 4-5 years or even have a million bonus...guys who made 20M+

And your Vince didn’t blah blah blah.  I’d rather a guy have kids with whatever number of women vs drive drunk multiple times. Either way, quit acting like they’re so different (other than the ‘ship - that’s a big difference).  

Really?  I’d rather someone drive drunk a few times and not hurt someone than father 9 kids by 7 women that he neglects and cannot support. (and that 9 and 7 figure was from 5 years ago so no telling how many now).  

I mean to me fathering a kid and not being in their lives and not protecting them from being murdered is a big fucking deal.  Had he maybe, you know, been a father to that kid, he could have protected him from being murdered.  Kind of hard to do that when the first time you lay eyes on a kid is at their funeral.  

Peterson is the worst kind of piece of shit.  

This isn’t a UT v OU thing either.  I’m sure we have more than our share of absentee fathers.  And they are shit too.  Vince just isn’t one of them.  He has a son with his wife and lives with them.  

[Vic Mackey 46919]

54 minutes ago, Johnny Sack said:

The NFLPA isn’t weak because of poor leadership.  Which they do have.  It’s weak because the players have zero leverage.  If the players strike, the owners can hire replacements.  The loss of ticket sales is actually more than made up by the huge reduction in salaries.  And tv deals are guaranteed.  So the owners actually make more money if there is a strike.  

NBA and MLB are different.  They have a lot more games.  So ticket revenue is a much bigger piece of the pie.  Players also have longer careers in those sports.  So while losing a season hurts, it isn’t like the NFL where the average player is losing a quarter of their career earnings. 

How concrete are these tv deals? Players hold out all the time. Owners can cut these players and only owe them guaranteed portions of their contracts.

Can the advertisers and networks demand a reconstructed contract if these replacement players are playing? No one is going to watch that long term and both sides know that. It would be XFL quality of play just with the big boy logos and uniforms. The XFL can hardly get enough to field just the 8-12 teams they have. NFL has 32 teams. I can't see the advertisers just sitting back like nothing if the NFL is trotting out no name spare players for a length of time. 

[Gene Parmesan 3992]

4 minutes ago, Vic Mackey said:

How concrete are these tv deals? Players hold out all the time. Owners can cut these players and only owe them guaranteed portions of their contracts.

Can the advertisers and networks demand a reconstructed contract if these replacement players are playing? No one is going to watch that long term and both sides know that. It would be XFL quality of play just with the big boy logos and uniforms. The XFL can hardly get enough to field just the 8-12 teams they have. NFL has 32 teams. I can't see the advertisers just sitting back like nothing if the NFL is trotting out no name spare players for a length of time. 

We will never know because the players can't afford to strike. 

[Johnny Sack 8397]

12 minutes ago, Vic Mackey said:

How concrete are these tv deals? Players hold out all the time. Owners can cut these players and only owe them guaranteed portions of their contracts.

Can the advertisers and networks demand a reconstructed contract if these replacement players are playing? No one is going to watch that long term and both sides know that. It would be XFL quality of play just with the big boy logos and uniforms. The XFL can hardly get enough to field just the 8-12 teams they have. NFL has 32 teams. I can't see the advertisers just sitting back like nothing if the NFL is trotting out no name spare players for a length of time. 

When I took sports law at UT, the professor who had written a book on the subject, claimed the owners would make more money in a strike because tv contracts are fully guaranteed.  

[Parliament 14112]

I’ll knock AP for fathering all those bastard kids way more than for going broke part. He, and many like him, are the same as too many lottery winners. Poor/middle class folks who all the sudden are rich.

Like my cousin. Worked a factory job and won $180k. Did a buncha work on his house, bought dumb crap for his kids, etc. All he has to show for it now is an ex wife and a 2004 Dodge Rumble Bee pickup.

[Tex Long 4326]

Well, 0U sucks, that's a fact.

What about Texas, though? It seems that MensaTom (and CDC, of course) and his Texas4Ever thing would address such problems... does it?

[Nolacycling 893]

Adrian Peterson Steakhouse and a cush job at OU. what could go wrong?

[Aqua Buddha 14489]

Quit stereotyping athletes.  C Suite types do this shit all the time.  They already have nice lives but over leverage because they want four houses instead of two.  Hell, Donald Trump lost infinitely more money than Peterson.  Maybe AD should run for President.

[Johnny Sack 8397]

3 minutes ago, Aqua Buddha said:

Quit stereotyping athletes.  C Suite types do this shit all the time.  They already have nice lives but over leverage because they want four houses instead of two.  Hell, Donald Trump lost infinitely more money than Peterson.  Maybe AD should run for President.

There is a substantial difference between having some LLCs you own going bankrupt and personally going bankrupt.  Donald Trump has never been personally broke.  

[Dennis Taylor 18679]

34 minutes ago, Aqua Buddha said:

Quit stereotyping athletes.  C Suite types do this shit all the time.  They already have nice lives but over leverage because they want four houses instead of two.  Hell, Donald Trump lost infinitely more money than Peterson.  Maybe AD should run for President.

somewhere else with this bullshit   

[Aqua Buddha 14489]

13 minutes ago, Dennis Taylor said:

somewhere else with this bullshit   

 

44 minutes ago, Johnny Sack said:

There is a substantial difference between having some LLCs you own going bankrupt and personally going bankrupt.  Donald Trump has never been personally broke.  

Oh, stop being so sensitive.  Much like other rich guys, Donald Trump could have invested his inheritance in the S&P 500 and been significantly richer than he is now but instead, he put it all on black for the same reasons these athletes do.  Ego.

[MNLonghornFUKM 8799]

Oh, stop being so sensitive.  Much like other rich guys, Donald Trump could have invested his inheritance in the S&P 500 and been significantly richer than he is now but instead, he put it all on black for the same reasons these athletes do.  Ego.

Racist

[HoustonHorn 1059]

1 hour ago, Aqua Buddha said:

 

Oh, stop being so sensitive.  Much like other rich guys, Donald Trump could have invested his inheritance in the S&P 500 and been significantly richer than he is now but instead, he put it all on black for the same reasons these athletes do.  Ego.

Go be poor in the Cloak Room. Let the rest of us enjoy a piece of shit being broke.