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Thread: Players who've come crashing down

  1. #1

    Players who've come crashing down

    antoine walker - link

    david vaughn - link

    rumeal robinson - link

    sprewell - link

    here's the real shocker - link

  2. #2

    Re: Players who've come crashing down

    Steve Francis
    What you grinning at Pyscho?

  3. #3

    Re: Players who've come crashing down

    Quote Originally Posted by yungha
    Putress, didn't know the number was that high! For those counting on the NBA as a window out of their present financial situation, a lot of them surely find themselves back at square one (maybe even worse than square one).

    Do you think the situation would have been different if NBA newbies were required to finish college/university before applying for the draft? Though some of them finish their degree (some even double-major or so) while/after joining the NBA, I think a large number just let the opportunity of getting a degree slip by. Sayang.

  4. #4

    Re: Players who've come crashing down

    ^it's not just with pro athletes. i remember reading how around 6 or 8 out of every 10 lottery winners in the US end up bankrupt within 5 years of winning. you get a boatload of money, you happen to live in america where you can buy your own amusement park, even a hundred mil can disappear quickly.

    requiring a college degree might help, but impossible to implement. it was hard enough enforcing the rule that draft applicants attend 1 year of college first, what more requiring them to graduate.

    and if you look at recent history, straight-from-hs pros like kg, kobe, tmac, jermaine o'neal, al jefferson etc have acquitted themselves well in terms of conduct. except for kobe's rape case, we don't hear them living outlandish lifestyles and throwing money away, unlike the likes of walker, marbury, tinsley, sprewell, kenny anderson, derick coleman, larry johnson, etc, all of whom went to college.

  5. #5

    Re: Players who've come crashing down

    What about Kenneth Duremdes, Johnny A, Raffi Reavis who IIRC were left holding an empty bag in one of those pyramid scams few years back.

  6. #6

    Re: Players who've come crashing down

    yup ang dami ring PBA players who fall into this category. yves dignadice was living in a high-rise condo long before it became fashionable and last i heard he was a security guard in LA.

    there were those who were given max PBA contracts a few years back when the monthly salary cap was php500k. even with this type of salary, some of them still rented houses instead of buying, had some bad investments, bought the flashy cars and jewelry, and when they big paychecks stopped coming they had no assets to their name, not even a modest house. kahit bahay man lang sana nakapag-pundar sila habang malakas pa ang kita. bad financial advice and too many temptations, i suppose.

  7. #7

    Re: Players who've come crashing down

    wow! the antoine walker case was really something! if you convert it into philippine peso, during his 12 year career, he was earning 36m php per month!


  8. #8

    Re: Players who've come crashing down

    You're right, Yungha: a degree, or the lack of it, is no indication of how things would have panned out. Been thinking of things these pro leagues should have or insist that applicants should have to spare the latter of being in dire financial conditions down the line. Maturity? Probably, but how do you measure that? Shouldn't the player's association have be more involved in the non-playing aspects of a player's life like managing his money, etc.

    Which brings me to a somewhat related issue. How was the picture like when there existed just an amateur league (MICAA for those old enough to remember)? Me thinks a lot of players are just not ready to handle the large sums of money suddenly falling on their laps. Kahit na may manager yung player, unless the player has some rudimentary amount of skill and knowledge to know what's financially sound or not, it's all blind faith.

  9. #9

    Re: Players who've come crashing down

    basically these are cases of individuals who don't have or are ill-equipped to deal with the sudden rise in incomes. it's like pouring a gallon of water into a coffee cup. definitely the cup will be filled to the brim, pero aapaw at matatapon lang yung sobrang tubig. gaya ng tasa, these former players don't have the means or the financial savvy to deal with the dramatic jump in their tax brackets. pero kawawa rin sila because dubious characters and fly-by-night scammers are drawn to them like flies to sh*t, so they should have some kind of protection against these predators.

    "Of all the books I read, Facebook is the greatest"
    --sign on a T-shirt I saw on the way to work the other day

  10. #10

    Re: Players who've come crashing down

    Yungha, Yves Dignadice has rebounded nicely from his financial predicament. Short of winning the lotto, Yves met and I believe married a Pinay nurse from the LA area according to a former PBA player. Green card na, bread winner pa.

    For every Dave Bing or Junior Bridgeman, there are 10 to 20 NBA stars who fall on hard times. Dave Bing embraced the city of Detroit and worked outside of basketball to supplement his income. He became successful in the steel industry and gave back to Detroit by becoming mayor of the city when the city fell on hard times and the office beset with scandal. Junior Bridgeman invested his earnings wisely. He ibecame one of the biggest Wendy franchise holders in the Midwest, big time in Louisville and Milwaukee naturally. Both players were low key and did not have to support a traveling possee until their money runs out.

    Michael Jordan on the other hand is a known tightwad except when he is gambling. He was shrewed in his business dealings because his agent was very good and did not take Michael for a ride. The agent was in it for the long haul and not his regular 5-10% commission. Jordan also made sure that he invested the bare minimum but with a bigger upside if the investment becomes successful just for using his name. He did pay through the nose when ex-wife Juanita sued him for divorce and took him to the cleaners. Then again, he now has his freedom and a hot Cuban chick sharing his bed. :P

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