Fearing a Lockout, Players Saving Their Money

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• Papa Smurf Posted: Mar.25 at 11:35 am
  Does this mean the players are only spending 2 hours in the champagne room every night – as opposed to their customary 3 hours? This article is bad news for gold-diggers everywhere.

• Will Lee Posted: Mar.25 at 11:41 am
  we’re talking about some players that got paid at least a couple million US$ a year. I am sure there are many people are willing to take their jobs with half of the payroll

• foolio_iglesias Posted: Mar.25 at 12:08 pm
  How is Sprewell supposed to feed his family now,huh?

• LA Huey Posted: Mar.25 at 12:20 pm
  @Will Lee, I’m sure there are people that are willing to take your job with half the payroll. There’s always someone less well off or more desperate than you.

• WOODY Posted: Mar.25 at 12:26 pm
  More Mercedes and fewer Bentleys is going to cheapen the parking lots substantially.

• Allenp Posted: Mar.25 at 12:51 pm
  LA Huey FTW

• Dfrance Posted: Mar.25 at 1:16 pm
  This story has to be a joke. If you need the possibility of a work stoppage in order for you not to blow all your money check to check, then you’re an idiot.

• Alan Posted: Mar.25 at 1:17 pm
  “It was tough for (the players) then, and it could be tough for us.” this is the funniest quote I’ve read by an NBA player ever!!! Would be nice to see what they do with my monthly salary… die, I guess.

• Starbury Posted: Mar.25 at 1:18 pm
  before you know it they’ll all be ballin’ in China next year.

• barnabusb Posted: Mar.25 at 2:06 pm
  All the jokes aside, with their larger incomes come larger bills. If they’re not getting paid, they won’t be able to afford all the junk they’ve bought. It’s just like anyone else who doesn’t get a paycheck, but on a larger scale. If I was getting paid millions to play basketball, my spending habits might be a bit skewed, too.

• skd Posted: Mar.25 at 2:36 pm
  And just remember people, they dont see that big reported contract number. 40% goes to taxes at least 10% to agent 5% to accountant. The average take home is about 30% of the total contract number. For a mid level guy making say 4 million a year, thats only 1.2 million. When you factor in things like luxury cars and homes, insurance, child support, it goes very quickly. I imagine 20% to 40% of the players in the NBA live paycheck to paycheck. For real.
  And anyone saying they would be making that much money and wouldnt spend it on nice things is probably lying and you know it.

• The Philosopher Posted: Mar.25 at 3:21 pm
  It’s not money that is the root of all evil…it’s the lack of it.

• Fat Lever Posted: Mar.25 at 3:32 pm
  If European leagues/teams were smart, they’d start drafting up ideas to get these NBA players over there should the strike start going into the NBA regular season. I’m sure making something like 200k for 2 or 3 months of work sounds better than nothing at all. The opportunity is there for the Euro leagues to really make a splash here, more so than Josh Childress.

• MikeC. Posted: Mar.25 at 3:53 pm
  With a lockout looming, I’m going to have to sell some of my cars and really cut back on my walking around money. I saw it happen to Kenny Anderson in ’98, and I won’t get caught in a buyer’s market like he did.

• ConeyIslander Posted: Mar.25 at 4:37 pm
  Smh, I guess they’re only buying the bentleys and platinum chains in the “sale” section.

• JD Posted: Mar.25 at 5:00 pm
  Personally, i’d love to see all the NBA Stars playing in Europe for one year

• Shem Posted: Mar.25 at 8:26 pm
  @skd: I find it HILARIOUS, how you added child support to your list of things that players spend their money on. Shows what you think of NBA players off the court

• barnabusb Posted: Mar.25 at 8:55 pm
  @Shem: Athletes get around, man.

• dma Posted: Mar.25 at 10:52 pm
  @skd: ONLY making $1.2M a year? You also magically forgot to include the per diem, as well as endorsements. And all the free crap they get on the side – like meals at the facility, clothing, etc… don’t make it out like the players are like you and I.

• CARTEL Posted: Mar.25 at 11:47 pm
  Guess half the league is gonna run overseas now…

• The Philosopher Posted: Mar.25 at 11:49 pm
  Shout out to Michael Adams.

• JoeMaMa Posted: Mar.26 at 4:38 am
  Antoine Walker…Rumeal Robinson…Randy Brown…Kenny Anderson…Latrell Spreewell…ETC. Why the NBAPA doesn’t have a stronger stance on financial management utterly confuses me. There should be player association money managers, extensive financial counselling available, and the rookie should undergo a much more rigorous “rookie camp”. There are WAY too many examples of ballers going broke. How does Antoine Walker go BROKE?!?! (By the way, Dwyane Wade also used the “feed my family” line when stating why he won’t take less than a max contract for the sake of winning championships) It reflects VERY poorly on the players and the league. The new CBA should have mandatory team financial managers for the players….SOMETHING!!!

• -Mas- Posted: Mar.26 at 8:35 am
  If these young men do not have the financial education to manage their own assets than they should take the initiative and hire financial consultants. That would be the best step in order to avoid money troubles. However the main root of all problems is the lack of education and the little interest most of us have in picking up a book and teaching ourselves what to do with the money we do have. Simple enough.

• hillbilly Posted: Mar.26 at 8:47 am
  @JoeMaMa
  Preach on it.
  Every NBA player (especially the young bucks) should watch that OTL on Antoine Walker. Dude made 110 mil during his days in the league. Now, he’s ballin’ for peanuts in Puerto Rico & he doesn’t get paid a dime unless his team wins a championship.

• Justin Posted: Mar.26 at 9:46 am
  barnabusb…you sound like Ewing did during the last lockout. “Yes we make a lot of money but people have to understand we spend a lot of money too”. The other great comment was Kenny Anderson, “I’m not happy. I might have to sell one of my cars”. Anthony Mason showing up to the charity basketball game during the lockout with diamond earrings and a huge fur coat. Way to gain sympathy boys.

• Ali Posted: Mar.26 at 9:46 am
  Cmon’ Son! getdaf***outtaherewitdatbullshi*! We got REAL WORLD shi* going on! FEARING! Seriously! We got people that can’t find a job out here, people losing their homes all over the country, we got people fighting two wars. Please miss me with a stupid headline like this!

• Clipperfan Posted: Mar.26 at 10:50 am
  @skd agents make 5% max per contract, by rule. They charge 20% on endorsements deals though, that’s where they get paid. They have nice retirement fund too. The money they’re setting aside is for the child support and bentley/ range rover payment. Any responsible athlete would be set for a few years without work.

• Sparty's Law Posted: Mar.26 at 10:59 am
  Somewhere, probably in a strip club, Latrell Sprewell is smiling.

• Allenp Posted: Mar.26 at 11:13 am
  A lot of these cats do hire financial managers.
  And then they get robbed blind because they don’t know how to keep track of their money themselves. I would compare NBA players to your typical lottery winner. Most of them go broke as well.

• LA Huey Posted: Mar.26 at 11:51 am
  Johnny Cash – Satisfied Mind
  Some of you are sounding kinda salty here.

• Illydiva Posted: Mar.26 at 3:11 pm
  Good for Jason Maxiell. I bet the majority of players are not even thinking that far ahead. It’s true “mo money, mo problems”; but a dozen cars when you can only drive one at a time and a mansion with 10 bedrooms when you grew up in 2 bedroom apartment with 3 siblings is excessive. It shouldn’t take a lockout for pros to realize how fortunate they are and how fleeting it can all be. Live responsibly.

• Teddy-the-Bear Posted: Mar.27 at 2:48 am
  Anyone trying to make $1.2 million seem like a “victim’s” salary needs to rethink whatever he was saying.

• Jukai Posted: Mar.28 at 12:54 am
  ^^^

• kg Posted: Mar.28 at 6:54 pm
  how about cutting back on free agents that r just sitting on the bench or at home doing nothing to help the nba

• Lebran Posted: Mar.29 at 8:08 am
  Last time Slam posted about the lockout someone posted that it was ‘Millionaires mad at the Billionaires becasue the Billionaires want to pay the Millionaires a few less Thousands’ which i thought describes this whoe thing completely. Anyone who is trying to stand up for the any of this as ‘fair’ or ‘just’ in the current global situation needs a good old fashioned ass whoopin. But also, it’s odd that you all seem suprised that most of these cats blow there money. Why dont you drop into your local hoodspt, hand over a million dollars to some random cat from the street. lets see how many stocks and shares he invests in, and how many bentleys and chains he buys…..