dragondawg
05-20-2007, 03:11 AM
Riches lead to rookie tests
Newest players learn NFL ropes
By Mike Klis
Denver Post Staff Writer
Soon, there will be another set of shiny new vehicles driving into the fenced parking lot at Dove Valley and all will be normal in the world of young men and new money.
For whether he's a Broncos rookie about to come into big money, or a college graduate breaking in on the bottom rung of the corporate ladder, it has long been a young man's rite to spend that first paycheck on a new set of wheels.
They can hire the best advisers, listen to the hottest stock tips and shop for the best interest rates. Even the most well-intentioned financial planning, though, doesn't begin until after that first car is purchased.
"I don't have anything on order yet because I'm not a big fan of debt," Broncos rookie left tackle Ryan Harris said. "But I do have a car I'm looking to get, and it's going to be big for me to own my own car. I like the new black Chevy Tahoe with bucket seats in the back, not the bench."
If Harris considers his investments as carefully as his vehicle, he might one day be in position to spot Pat Bowlen a load of cash. Among the Broncos' four drafted rookies, Harris has shown the most restraint. Using a line of credit that is easy for all high-round draft picks to secure, first-round defensive end Jarvis Moss and second-rounder Tim Crowder have purchased their 2007 Cadillac Escalades. They will drive them, too, as they're customized.
Marcus Thomas, the Broncos' fourth-round defensive tackle, just bought an $87,000 BMW 750 for his mother, although he's driving it until he gets his first check. A dealer from his hometown in Jacksonville, Fla., hooked him up.
"She's the No. 1 priority with him because of all the hell he put her through," Richard Burnoski, Thomas' agent, said while laughing.
When he gets paid, which isn't until the regular season begins, Thomas plans to get an Escalade for himself. At that point, a local Cadillac dealer should shoot a commercial at Dove Valley with the slogan: The 2007 Escalade, the official SUV of the Broncos' 2007 draft class.
Other than the necessary luxury that is a shiny new vehicle, Denver's four drafted rookies have smartly begun to plan their financial future.
"I've got a financial adviser and I'm all about investing," Crowder said. "I'm getting caught up on stocks, bonds, mutual funds."
Burnoski is going to have Thomas pour every cent possible into an NFL annuity in which he says the league matches $2 for every $1 the player puts in.
"What other company in the world will match your annuity 2-to-1?" Burnoski said.
Harris, a St. Paul native, has been mentored by Minnesota Vikings center Matt Birk and has interned with a financial company that will handle his money.
"I know enough to know I don't know anything," Harris said. "I'm preparing for the worst. In football you never know what might happen. There have been players here who have had careers end early because of injury. I think it's safe to save as much as you can. I don't have a family, I don't have a wife, so that means I can save my money for those days."
The problem with financial planning is the endless list of unplanned expenses.
"I think the best advice anyone can give them is to learn how to say no," Broncos receiver Brandon Marshall said. "That was a big problem for me."
Yes, the $420,000 bonus Marshall received last year as a fourth-round pick is big money to all those Uncle Joes. But at 23, if Marshall gives handouts to every Uncle Joe, Aunt Mary and their brothers and sisters, he might be broke at 30.
The best thing Marshall did was buy a home here and another in Atlanta. Harris has family living in Highlands Ranch and might live there for a while. Crowder is going to rent a home for a year, get a better feel for the area, then buy.
Thomas plans to live with Moss, his college teammate.
Financially, Moss is in the stratosphere compared with the other Broncos rookies. The guaranteed money for Crowder, Harris and Thomas will come in at roughly $2.75 million combined.
Moss, as the No. 17 overall selection, can expect nearly $6.5 million in guarantees.
That kind of loot screams for tax shelters, which is why Moss spent part of this past week checking out homes.
"I definitely have wise people in my life who are going to help me with that," Moss said.
In late June, the four Broncos rookies will be attending the NFL rookie symposium, a mandatory, four-day event in San Diego.
"I've been to it and it's a great education for the players," Broncos coach Mike Shanahan said. "They talk about finances, renting an apartment, insurance, stocks. If you have questions about finding babysitters or investing in a company, they've got phone numbers to call. Players, they have a lot of support."
It's funny, though. Players never seem to need help when it comes to buying a new car.
Newfound riches
By the start of training camp in late July, the Broncos' four drafted rookies will be coming into money for the first time in their lives. Big money. What each rookie can expect, based on contracts received by similar NFL draft picks last year:
Contract in
Pk. Player P Yrs. millions* Guarantee*
17 Jarvis Moss DE 5 $11 $6.5M
56 Tim Crowder DE 4 $3 $1.5M
70 Ryan Harris OT 4 $2.5 $810,000 121 M. Thomas DT 4 $2.1 $420,000
http://www.denverpost.com/broncos/ci_5938650
Newest players learn NFL ropes
By Mike Klis
Denver Post Staff Writer
Soon, there will be another set of shiny new vehicles driving into the fenced parking lot at Dove Valley and all will be normal in the world of young men and new money.
For whether he's a Broncos rookie about to come into big money, or a college graduate breaking in on the bottom rung of the corporate ladder, it has long been a young man's rite to spend that first paycheck on a new set of wheels.
They can hire the best advisers, listen to the hottest stock tips and shop for the best interest rates. Even the most well-intentioned financial planning, though, doesn't begin until after that first car is purchased.
"I don't have anything on order yet because I'm not a big fan of debt," Broncos rookie left tackle Ryan Harris said. "But I do have a car I'm looking to get, and it's going to be big for me to own my own car. I like the new black Chevy Tahoe with bucket seats in the back, not the bench."
If Harris considers his investments as carefully as his vehicle, he might one day be in position to spot Pat Bowlen a load of cash. Among the Broncos' four drafted rookies, Harris has shown the most restraint. Using a line of credit that is easy for all high-round draft picks to secure, first-round defensive end Jarvis Moss and second-rounder Tim Crowder have purchased their 2007 Cadillac Escalades. They will drive them, too, as they're customized.
Marcus Thomas, the Broncos' fourth-round defensive tackle, just bought an $87,000 BMW 750 for his mother, although he's driving it until he gets his first check. A dealer from his hometown in Jacksonville, Fla., hooked him up.
"She's the No. 1 priority with him because of all the hell he put her through," Richard Burnoski, Thomas' agent, said while laughing.
When he gets paid, which isn't until the regular season begins, Thomas plans to get an Escalade for himself. At that point, a local Cadillac dealer should shoot a commercial at Dove Valley with the slogan: The 2007 Escalade, the official SUV of the Broncos' 2007 draft class.
Other than the necessary luxury that is a shiny new vehicle, Denver's four drafted rookies have smartly begun to plan their financial future.
"I've got a financial adviser and I'm all about investing," Crowder said. "I'm getting caught up on stocks, bonds, mutual funds."
Burnoski is going to have Thomas pour every cent possible into an NFL annuity in which he says the league matches $2 for every $1 the player puts in.
"What other company in the world will match your annuity 2-to-1?" Burnoski said.
Harris, a St. Paul native, has been mentored by Minnesota Vikings center Matt Birk and has interned with a financial company that will handle his money.
"I know enough to know I don't know anything," Harris said. "I'm preparing for the worst. In football you never know what might happen. There have been players here who have had careers end early because of injury. I think it's safe to save as much as you can. I don't have a family, I don't have a wife, so that means I can save my money for those days."
The problem with financial planning is the endless list of unplanned expenses.
"I think the best advice anyone can give them is to learn how to say no," Broncos receiver Brandon Marshall said. "That was a big problem for me."
Yes, the $420,000 bonus Marshall received last year as a fourth-round pick is big money to all those Uncle Joes. But at 23, if Marshall gives handouts to every Uncle Joe, Aunt Mary and their brothers and sisters, he might be broke at 30.
The best thing Marshall did was buy a home here and another in Atlanta. Harris has family living in Highlands Ranch and might live there for a while. Crowder is going to rent a home for a year, get a better feel for the area, then buy.
Thomas plans to live with Moss, his college teammate.
Financially, Moss is in the stratosphere compared with the other Broncos rookies. The guaranteed money for Crowder, Harris and Thomas will come in at roughly $2.75 million combined.
Moss, as the No. 17 overall selection, can expect nearly $6.5 million in guarantees.
That kind of loot screams for tax shelters, which is why Moss spent part of this past week checking out homes.
"I definitely have wise people in my life who are going to help me with that," Moss said.
In late June, the four Broncos rookies will be attending the NFL rookie symposium, a mandatory, four-day event in San Diego.
"I've been to it and it's a great education for the players," Broncos coach Mike Shanahan said. "They talk about finances, renting an apartment, insurance, stocks. If you have questions about finding babysitters or investing in a company, they've got phone numbers to call. Players, they have a lot of support."
It's funny, though. Players never seem to need help when it comes to buying a new car.
Newfound riches
By the start of training camp in late July, the Broncos' four drafted rookies will be coming into money for the first time in their lives. Big money. What each rookie can expect, based on contracts received by similar NFL draft picks last year:
Contract in
Pk. Player P Yrs. millions* Guarantee*
17 Jarvis Moss DE 5 $11 $6.5M
56 Tim Crowder DE 4 $3 $1.5M
70 Ryan Harris OT 4 $2.5 $810,000 121 M. Thomas DT 4 $2.1 $420,000
http://www.denverpost.com/broncos/ci_5938650