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View Full Version : Correlation btw. Greed/Responsibility


houghtam
09-22-2009, 03:50 PM
So I was thinking the other day (insert lame joke here)...

I wonder if there's any correlation between the players that pull the "pay me now" card and the ones that end up bankrupt the minute those NFL checks start rolling in.

My theory is that maybe there is a relationship between the two. Maybe the players who are less frugal with their money are much more likely to hold out, try renegotiating a contract well before the last year, and make a general stink of it...perhaps they panic and think the paychecks might not keep coming in?

Anyone think this might be the case sometimes? Anyone have any examples of people to whom this might apply?

_Oro_
09-22-2009, 03:55 PM
B Marshall???

sisterhellfyre
09-22-2009, 05:05 PM
Anyone think this might be the case sometimes? Anyone have any examples of people to whom this might apply?

I don't know that very many players in any league have been that transparent with their finances. They don't generally disclose that they're holding out for more money because they've wasted what they've already earned. But then we've seen how many stories about pro athletes in deep financial trouble after their careers end?

The obvious examples of players with severe financial trouble come to mind easily: Derrick Thomas (RIP), Shaun Kemp and Travis Henry. They just couldn't keep their packages wrapped, and child support bills add up FAST.

The best one I can think of where financial trouble directly affected the course of his career is David Bowens. He showed some promise as a pass-rushing linebacker, but Shanahan traded him to Green Bay. Rumors leaked after the trade that Bowens needed a serious change of scenery real fast because he was in debt to just about everyone in Denver.

houghtam
09-22-2009, 05:32 PM
I don't know that very many players in any league have been that transparent with their finances. They don't generally disclose that they're holding out for more money because they've wasted what they've already earned. But then we've seen how many stories about pro athletes in deep financial trouble after their careers end?

The obvious examples of players with severe financial trouble come to mind easily: Derrick Thomas (RIP), Shaun Kemp and Travis Henry. They just couldn't keep their packages wrapped, and child support bills add up FAST.

The best one I can think of where financial trouble directly affected the course of his career is David Bowens. He showed some promise as a pass-rushing linebacker, but Shanahan traded him to Green Bay. Rumors leaked after the trade that Bowens needed a serious change of scenery real fast because he was in debt to just about everyone in Denver.

Interesting.

Yeah, I'm not saying that players are going to be transparent about their finances, I guess I'm more wondering if many times the ones we end up seeing hit dire financial straits after their careers are over happen to be the same ones holding out for more money when their careers are going strong.

Not too familiar with basketball...Shawn Kemp have a history of holding out? Derrick Thomas' situation was well before I started paying attention to the financial side of the game, so I can't speak on him, either.

What about guys like Jose Canseco or OJ Simpson who will do anything (literally, anything) to make a buck now that their career is over. Was the Juice a malcontent in Buffalo?

rastaman
09-22-2009, 09:54 PM
So I was thinking the other day (insert lame joke here)...

I wonder if there's any correlation between the players that pull the "pay me now" card and the ones that end up bankrupt the minute those NFL checks start rolling in.

My theory is that maybe there is a relationship between the two. Maybe the players who are less frugal with their money are much more likely to hold out, try renegotiating a contract well before the last year, and make a general stink of it...perhaps they panic and think the paychecks might not keep coming in?

Anyone think this might be the case sometimes? Anyone have any examples of people to whom this might apply?

Very few NFL players have guaranteed contracts, so if you get hurt, you get cut. The average length of an NFL career is only 3 1/2 years, so for every 5 year veteran, there is a guy who never got past his rookie season. It's probably very easy to blow that first million, thinking there will be a next year. Interestingly, way more than half earn less than one million for their whole career. Those who sign for the league minimum earn way less.

The median salary in the NFL in 2009 is roughly $770,000. In 2008 it was about $720,000. The Steelers have the highest median salary at $1.1 million, the Packers the lowest at $440,000. The Redskins have the highest payroll at $123 million. The Giants have the lowest at $76 million.
The average (arithmetic mean) NFL salary in 2006 was $1.4 million.
Source: http://asp.usatoday.com/sports/footb...aspx?year=2007
Given that the average length of a Gridiron player's career in NFL is 3 years, average Green Bay salary of $440,000 means that after tax they earn less than $1 million total career earnings...hampered by the fact there is no-where else to play as Leagues have folded.

Here's an article that further explains how these athletes go bankrupt or blow fortunes.

http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364/1/index.htm

cutthemdown
09-22-2009, 10:31 PM
yeah but the avg is taken into account players who tried to be pros and just weren't very good. Not all those players lasted 3 yrs because of an injury. In fact most just wash out, and weren't that good, and an injury just the thing that tells them to give up.

I have averages because they don't tell the whole story.

Lev Vyvanse
09-22-2009, 10:34 PM
Research shows an r value of -.59.