OT: How Athletes Go Broke

[Dewey2007]

Re: OT: How Athletes Go Broke

Wow. Unbelieveable!! Mostly all NFL and NBA. No white guys.....interesting.

Not really that interesting. There are lots of white guys who have kids out of wedlock and with multiple partners but they just don't play sports. I guess scouts don't get out to trailer parks to often.

In our society it seems white folks with lots of kids get their own TV shows and become faux celebrities.

[dcgreg25]

Re: OT: How Athletes Go Broke

This thread was labeled off topic so I am going to wander a little further and suggest that the mods consider adding a section to the board for "other" threads like this, political discussions, etc. There are some really interesting sports related (and others) threads on here that are not focused on GU and it would be a good place for them.

This would give members a forum to talk about all kinds of non-GU subjects with other people on the board. Just a thought.

[allstarsplus]

Re: OT: How Athletes Go Broke

not to mention the amount of kids some of these guys end up making:

NFL, Ray Lewis (six kids by four women)
NBA, Larry Johnson (five children by four women)
NBA, Latrell Sprewell (three kids by three women before his 21st birthday)
NFL, Darren McFadden (three illegitimate kids in four years of high school and college)
Boxing, Evander Holyfield (9 illegitimate kids)
NBA, Jason Caffey (eight illegitimate kids by seven women)
NFL, Marshall Faulk (six kids by three women)
NFL, Charles Rogers: (five illegitimate kids)
NFL, Santonio Holmes (three kids while in college)
NBA, Stephon Marbury, (two illegitimate children)
NBA, Juwan Howard (three kids by three different mothers)
NBA, Shawn Kemp (twelve children from different mothers)
NFL, Derrick Thomas (seven kids by different women)
NFL, Willis McGahee (three children out of wedlock in two years)
MLB, Vlad Guerrero (four kids by four women)
NBA, Mike Bibby (two children while in college)
NFL, Shannon Sharpe (three children out of wedlock)
NFL, Chad Johnson (three children out of wedlock)
NFL, Ricky Williams (three children out of wedlock)
NBA, Willie Anderson (nine kids out of wedlock)
NBA, Calvin Murphy (nine women, 14 children)

rudy.

Rudy - OUCH. I don't know if I qualify for your list as I have 5 kids by 2 different mothers. Now then, I was married when all children were conceived and I was 25 when my 1st child was born and 42 when my twins were born. WOULDN'T TRADE ANY OF THEM FOR THE WORLD!

Unfortunately my 1st marriage ended in divorce after 11 years of marriage, and proud to say that I never missed a child support obligation. My 23 year old son is in a PhD program, my 2nd son is in his sophomore year of college, and my 3rd son is a Junior in High School and my twins are in 1st grade.

I won't judge any of the names above unless I know their story. Most of us know untraditional families.

I am a proud father and most that know me know how great my kids are. I have told people to judge me as a father when all my kids are grown up and we see how they all turned out.

[cohibasmoker]

Re: OT: How Athletes Go Broke

I don't know why people ( black, white, green, yellow, or whatever) squander their money. All I know is, give me a couple of million dollars and the only time you guys will hear from me is an occasional email between cocktails and cigars on my sailboat sailing the Caribbean. And, if I were to squander the money away, I would not blame anyone except MYSELF !!!!!

Jim

[dirtyla2000]

Re: OT: How Athletes Go Broke

Rudy - OUCH. I don't know if I qualify for your list as I have 5 kids by 2 different mothers. Now then, I was married when all children were conceived and I was 25 when my 1st child was born and 42 when my twins were born. WOULDN'T TRADE ANY OF THEM FOR THE WORLD!

Unfortunately my 1st marriage ended in divorce after 11 years of marriage, and proud to say that I never missed a child support obligation. My 23 year old son is in a PhD program, my 2nd son is in his sophomore year of college, and my 3rd son is a Junior in High School and my twins are in 1st grade.

I won't judge any of the names above unless I know their story. Most of us know untraditional families.

I am a proud father and most that know me know how great my kids are. I have told people to judge me as a father when all my kids are grown up and we see how they all turned out.

AND THAT WILL BE YOUR LEGACY,NOT MONEY FAME OR ANYTHING ELSE .GOOD FOR YOU IT SEEMS YOU ARE ALMOST THERE.

[kingjammy24]

Re: OT: How Athletes Go Broke

Rudy - OUCH. I don't know if I qualify for your list...

andrew, let me know when you squander your first $60 million and we'll put you on the list

anyway, it wasn't my list. i found it on the web. i just brought it up because i imagine all of those paternity suits and child support payments affect athletes going broke. some websites actually turned the entire topic into a little rotisserie game with stats and everything. apparently, the current champ is calvin murphy; 14 kids by 9 women! the best part? the NBA selected calvin to help mentor NBA rookies to help them "..avoid the pitfalls and traps that can beset NBA players." who's their financial mentor, bernie madoff?

a few posters have said they can't understand how these things happen. i thought the SI article gave some good insight into what exactly causes these things. at a very basic level, i think when you're giving young kids huge sums of money and fame and very little education and life experience to manage that money and fame, the outcomes can hardly be expected to turn out well. when alex rodriguez was 18 yrs old, the mariners signed him with a $1mm signing bonus. how is giving an 18 yr old $1mm supposed to help him stay grounded in reality and not end up like antoine walker?

rudy.

[David]

Re: OT: How Athletes Go Broke

I remember when Ki Jana Carter was interviewed as a rookie. He said he put all his #1 Draft Pick signing bonus in a very conservative but safe investment (bonds?) and decided to live just of his yearly salary. People dismissed this, saying he should buy and invest big. But Carter said that if he did this he would be set for life, even if he had an big injury. Well, he soon after had the big career shortening injury. I just recall him coming across as very mature and financial thoughtful for a young suddenly rich man, even when many were saying he should spend his bonus.

[topcityhockey]

Re: OT: How Athletes Go Broke

this is why the leagues need to do several things- 1) Require that all players have a college education 2) Ensure that part of that education consists of a money management course/work with the universities to require this for all athletes 3) Assign each player a financial advisor who is a representative of a legitimate company registered with the SEC 4) establish a trust fund for each player that takes 10% of their salary and holds it, building interest until they retire.

These are just a few of my ideas on how we can protect the players

[nomo121]

Re: OT: How Athletes Go Broke

Require them to do this, or do that. Provide them this, so they will have that.. Nonsense. In theory they are adults, and can make their own decisions. If they cannot, then they pay the consequences. Besides, they are suppose to have gone to college. Most had the option to graduate but may not have b/c they didn't want to. But, they should have, so if pro sports is over, and they are out of money, they can get a job. Regardless, sports shouldn't do anything for them. If they are fools with money, they'll be fools w/ less money later on.

[joelsabi]

Re: OT: How Athletes Go Broke

My 23 year old son is in a PhD program, my 2nd son is in his sophomore year of college, and my 3rd son is a Junior in High School and my twins are in 1st grade.

I am a proud father and most that know me know how great my kids are. I have told people to judge me as a father when all my kids are grown up and we see how they all turned out.

Andrew,

You eldest sure is setting a high ceiling for his siblings to follow. Just from you family photos, you have level headed kids and must be a very proud father.

Regards,

Joel

[allstarsplus]

Re: OT: How Athletes Go Broke

Andrew,

You eldest sure is setting a high ceiling for his siblings to follow. Just from you family photos, you have level headed kids and must be a very proud father.

Regards,

Joel

Joel - Thanks. My oldest has received full academic scholarships from his freshman year of college all the way through his PhD program, and my 2nd son is on 3/4 academic scholarships and my 3rd son hopes to get a full ride on a sports scholarship for football where he wants to be a 2 sport athlete in college like Deion Sanders (CB for football & 2nd base for baseball). My 6 year old son is already playing baseball and lacrosse and my daughter does dance.

I have told people my key is emphasizing the academics and make sure they are always involved in 1 athletic activity during each season. Don't spoil your kids too much as you want them to strive and not be reliant on their parents.

Like I said, I have a long way to go in the parenting and trust me, there were some small bumps along the way.

The funniest thing is when I tell people I have 5 kids and look at the expressions on people's faces.

[bigtruck260]

Re: OT: How Athletes Go Broke

I did my Masters thesis on the creating a consulting service that...

Oh - maybe I shouldn't leak that info. I'll tell you what -Paypal me $50K and I'll email it to you.

[frikativ54]

Re: OT: How Athletes Go Broke

Joel - Thanks. My oldest has received full academic scholarships from his freshman year of college all the way through his PhD program, and my 2nd son is on 3/4 academic scholarships and my 3rd son hopes to get a full ride on a sports scholarship for football where he wants to be a 2 sport athlete in college like Deion Sanders (CB for football & 2nd base for baseball). My 6 year old son is already playing baseball and lacrosse and my daughter does dance.

I have told people my key is emphasizing the academics and make sure they are always involved in 1 athletic activity during each season. Don't spoil your kids too much as you want them to strive and not be reliant on their parents.

Like I said, I have a long way to go in the parenting and trust me, there were some small bumps along the way.

The funniest thing is when I tell people I have 5 kids and look at the expressions on people's faces.

Andrew,

You sound like a great dad; your kids are lucky to have you. I can say from experience how much it would have meant to me to have had a dad who was involved in my life. My Dad lived in the house but was AWOL emotionally.

It's easy to point fingers at people who have 5 kids, but you're right, you don't know how they actually treat their progeny. Congrats on doing things the right way. I wish there were more people like you, and that more athletes were involved in their kids' lives.