Guys like this really make you realize that former players like Andre Wadsworth are the exception to the norm. Recall that when Wadsworth tried out with us a few years ago, after having left the league following under 10 seasons, his remarks were along the lines of "If I make it great, if not, I'm set." We of course came to find out that he was wise enough to invest his rookie signing bonus and plan from there, and was now the proud owner of multiple car dealerships. Most professional athletes, especially football players, are dumb as rocks. For every one guy like Wadsworth there must be 10 McCalliester's. Doesn't surprise me at all that we're hearing this story. I fully expect to hear the same thing about good ol' Vern in the coming years. Let this be a lesson, if you're signed to a Gazillion Dollar contract at 23 years old, find yourself a good Jew CPA/Financial Planner (I mean this as a compliment, not a snide remark), give him the check in its entirety and ask him to authorize a monthly distribution to the point where you are pretty much living off interest- anything beyond that you can't touch.
If you got divorced what what would be the 50/50 split for the advertising income you get off the billboard on your shoulders?
LOL, how much can you spend on Colt 45 and gold chain? Most of these losses were bad investments rather than spending on bling. Investments in small businesses they have no idea how to evaluate, and the fact is the failure rate of these things is very very high, by some estimates more than 95%. SI did a good article on how athletes go broke. http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364 The fact is athletes are considered easy marks. The should be talking to Northern Trust or equivalents who have been managing wealth for individuals for over a century rather than Vinnie's friend. And not all jewish money managers are trustworthy - isn't that right, Bernie? And then there are guys like Vick and Cro who take it to a new level - they actually go broke while playing...
One must wonder why such a strong union as the players do have, has not step in with some kind of plan to help keep these guys out of the poor house after there careers. Even a simple trust fund of modest secure investments, on say 1o% of a players life time salery would return a decent income for the remainder of there lives. Enough to afford a comforable home, keep the light and cable on and allow a new car every few years, without having to eat dog and cat food. It's not that hard when you are making millions to stash away enough to do this. If the NFLPU cared enough, they would urge players to get in to a simalur type program and if the player choose not to when offered, then fuck him , if he starts crying broke in a few years after he career is over.... Go get a real funking job like the rest of America has to do and see how well you can live on 10 bucks an hour if your lucky enough to find a employer willing to start you out at that...
