In partnership with CBSSports.com
The largest and most active MSU Spartans board on the web
The place to ask questions to SpartanTailgate's recruiting experts
"The Duff" is dedicated to Michigan State football recruiting discussion
"The Bres" is dedicated to Michigan State basketball recruiting discussion
This is your pulpit to preach to the masses about everything from politics to religion
The place to buy, trade or sell Michigan State tickets
You have no favorite boards.
The most viewed topics.
The most replied to topics.
The most up-voted topics.
The most down-voted topics.
The most up-voted posters.
The most down-voted posters.
The most followed posters.
"According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress. "
Many athletes are sucked into bad financial decisions after years of living the high life. A story of the dark side of success.
didn't this air like 6 months ago?
"Put your mother in a straight-jacket you punk ass white boy." ~ Mike Tyson
This is as new as the magazines in my doctor's office.
It's almost like kids who grow up with minimal parental guidance and financial education are getting paid millions of dollars without the slightest clue as to how to manage it. I haven't watched the film, but I wonder where most of the money goes? Are they purchasing things for themselves or giving too much to childhood friends or family?
I spent a bit of time in Philadelphia just yesterday with a relative of my Wife's..at a bar in the train station.
VERY depressing..her husband played OL for the Seahawks for 4 whole seasons and has had multiple surgeries and already has an artificial knee..after retirement, he's got "some" money, but they both work, are stuck in Philly (because that's where his Mother lives), the wife wants to live elsewhere and has to work, and the Husband works for the government just like any other slave to their personal needs out there..
This is the most common story going. Player gets in a few years, makes a ton of money but it's not going very far after taxes and rehab and ex-player is in pain or at the doctors office all the time and has no real special work skills that brings in income for the rest of the 30-50 years most of us have to work.
Even a few seasons making a couple million a year don't add up to much over an entire lifetime, especially with families to support and the cost of living in large cities (where most retirees seem to feel they need to stay in order to get any good work). It is really easy for a guy to take "time off" for a few years after retirement, spending and relaxing and having zero income..but that stuff steamrolls fast.
Oh, and another thing..this fellow is constantly worried about his head and brain. It is something a lot of ex players are paying attention to now. And it is having an effect (the brain trauma) as he's paranoid and depressed ALL the time. Meanwhile, the wife is scared that her husband won't out pace the average NFL retirees 58 year old lifespan (or so she said)
Talk about depressing..
There is romance in all of us
Watch it. It's very well done. Money to friends/family, partying, luxuries, financial mismanagement, boneheaded investments, health issues, taxes, divorces, child support, entourages, early retirements, etc. Pretty damn entertaining. Some guys you feel bad for, others you don't. It was kind of sad seeing Bernie Kosar (who sounded a bit drunk) say "the great thing about bankruptcy is that friends and family stop asking you for money."
Andre still looked good. Bernie looked like the town drunk. I felt terrible for that guy.
Especially now that his daughter is doing porn...
cato june was just on some show allegedly buying a place in manhattan for $13mm. His lifetime earnings were estimated at around half that number.
but he had a giant fancy watch on and said he is bankrolling a broadway play.
Bk in 3, 2,1......
Or to generalize, too many players treat their time in the NFL as winning the lottery and assuming that the money will continue to flow. Then their career ends sooner than expected, and they have nothing to fall back upon.
The NFL has taken steps to educate rookies in financial management, but it goes in one ear and out the other.
FYI, this is now streaming on Netflix if anyone has not yet seen it
I saw that. Add in the big $$ place that he already has (which probably couldn't sell), and he's in for it. Fortunately for him, the manhattan property should maintain its value, unlike many of the gold plated properties that people build.
This link is as new as the magazines in my doctor's office.
That was a good one. I think it was his dad that kept hitting him up for money.
I have to admit, the 78% statistic raised my eyebrows. What are these guys doing?
It's really hard to feel bad for someone that gets a full ride to college and makes a six figure salary, even if it's only for a few years.
I had the chance to meet Bernie Kosar a few years ago--he's definitely the kind of guy to feel sorry for. Guy can barely get out of bed and walk around his house from the hits he took playing. I'm not sure if you could tell if he was addicted to painkillers or just taking them out of necessity anymore, but I was surprised he was even lucid enough to carry on a conversation, much less sit through a documentary shooting. After he retired, he didn't know what to do with himself, didn't have a strong family support system, and when his investments and business ventures went to hell, he started on antidepressants too.
Like I mentioned, the thing that struck me was the stark difference in appearance between Rison and Kosar. Both of them have obviously had their share of... well, let's issue a blanket statement and charitably call it "misfortunes." But Rison was well dressed, spoke smoothly, and for all the world sounded like he hadn't lost an ounce of swagger. Bernie was sweating through his shirt, stumbling on his words, a looked like he was one drink removed from having a full case of the DTs.
Terrible investments and taking care of huge posses.
tRCMB - Visit at your own risk of being disgusted.
thanks for the reminder - found it on netflix and just watched it.
the final interview was Andre Rison. He said that a college coach told him "Dre, if you keep messing up. I'm going to pull up in my bright white shiny Cadillac and I'm gonna say, Dre, How 'bout a wash." Perles?
Andre "Bad Moon" Rison was forced to declare bankruptcy because of overdue child support debts in 2007
In 2012, He returned to Michigan State University to complete his degree.
nice film - entertaining, frustrating, and surprisingly sad at the same time.
First athletes, now pretty people too...
Getting paid with clothes instead of cash has sunk many girls deep into debt, reports Misty White Sidell.
Yeah I noticed that too but I kinda thought the opposite. The outfit Rison had on probably costs at least $1000 top to bottom. Broke as hell but still has to dress like he isn't.
Really is sad but a lot of these guys do bring it on themselves. Kosar's dad was a complete piece of crap.
Women are stupid
Here is the problem with these idiots. They sign a 5 year $30 million contract and actually believe they will receive every penny of that. They have no clue that 40%+ gets taken of the top for taxes ($12 mil). They buy a huge mansion without realizing property taxes need to be paid every year whether the house is paid off or not, it costs money to heat the house, furnish it, electricity, and then buy dumb shit like Ferrari's with sky high insurance bills. On top of that they blow thousands of dollars on jewelry and clothes (for themselves and their friends/families). And to top it all off, they knock up a bunch of different women and wind up with huge child support bills.
247Sports In partnership with CBS Sports