NBA players earn millions of dollars per year. How come a lot of bankruptcies?

category:Sports
 NBA players earn millions of dollars per year. How come a lot of bankruptcies?


But such a group of local tyrants whose monthly income and even daily income exceed the sum of ordinary peoples lifetime often appear in the lace news in poverty. They can lose their whole family soon after retirement, which makes people sigh and wonder: How on earth did the money go out?

The first big spenders are usually around: Jordan, who is the God of basketball, and ONeill, whose career salary is 290 million, who is half of his property when divorced. In addition, he also needs to provide Shanny with $24,300 a month for fuel, $17,200 for clothing and $6730 for dry cleaning. In addition to his own expenses, ONeill burns 875,500 a month. More than US dollars.

Another famous All-Star player in the 1990s, Kenny Anderson, earned 63 million in 14 seasons, but he went bankrupt because of his dependency payments: he had seven children with five women and his dependency payments alone cost more than $40,000 a month. Now he has found a job in college and barely enough to support himself.

Coincidentally, Shawn Camp, a super violent power forward known as Rain Man, reached the Finals and Jordan fierce battle with Payton at the peak of his career, earning a total of 91.5 million dollars, but also because of his big hands and maintenance fees, he went bankrupt: there were six women and seven children in the face. Whats worse, Camp chose to enter the NBA early, that is, he had an illegitimate son, and needed it. Make money to pay for maintenance.

In this way, I do not remember how many illegitimate Warcraft Howard, the future really has a hard time.

Players never lack women when they are in good shape. Even some women plan to find a star to marry for the rest of their lives. But when these stars are not so considerate, everything is not going well. Most importantly, they dont know how much money they have, how much money they spend, and how fast they go bankrupt.

Barkley, a good partner with ONeills old rival in TNT, once revealed that he had lost $20 million in casinos. When he really got up, money was just a number, and he didnt know when he would lose it.

Buckley has been sore about staying away from casinos, but its not so easy for some gamblers or hobbyists to stop: ONeills former teammates, former All-Star and champion Anthony Walker, squandered $108 million of his career, now owes the bank $4 million, and his championship ring. It was also auctioned to pay off its debts in the first time.

Another reason for Walkers bankruptcy was improper investment: his partner used his house as a mortgage scam and ended up in prison, whereas Walkers house was confiscated by the bank. Walker, who boasted to his teammates, spent $350,000 the next day on a Maybach sports car. Another NBA All-Star power forward, Wen Baker, who has spent $97 million in his career income, is now trying to find a manager job at Starbucks, an alcoholic star who eventually lost the rest of his life for his hobbies.

Sometimes wasting money is not a waste of money, but often what they think of as investment is more terrible than the waste of alcohol - big hands and big feet are a one-time wave, but some investments unconsciously become debts, tarsal maggots, until you go bankrupt.

Spreville, the well-known not enough to support the family, was driven to poverty by spending money on millions of yachts, not paying attention to other hidden terms and not paying high maintenance costs.

The total income of his career was actually higher than that of Jordans second father Pippen, whose total income exceeded 110 million US dollars. Pippen had lost in a muddled investment: he had no knowledge of economics and blindly trusted his new partners, and had completed the loss in many projects that at first glance were fraudulent money. Pippen borrowed $4 million from a high-interest guaranteed company to buy a twin-engine aircraft, and then spent a lot of money to rebuild it in an attempt to build an industry on it. He was totally unaware that the interest on the bill had rolled to a frightening amount. The Bank of America subsequently sued Pippen and the court. Pippen was sentenced to repay and pay interest. The final cost of the plane was several times that of four million dollars. When Pippen paid all the money back, the plane had not been reconstructed.

Players spend a lot of money, open a bottle of wine in the nightclub for tens of thousands of yuan, spend hundreds of thousands of dollars a night on carnival, or pile up in the garage several times a year without opening it, just for the sake of taking pictures to show off and the luxurious super run used by teammates to boast, and ultimately feel sorry and sorry for themselves. Of course, what is more terrible is that there are a group of idle friends and relatives who can do nothing to defeat the hard-earned wages of the players every day, and there is really nothing to do: Drant West, who has a base salary, has to support eight unemployed relatives of the whole family, who are homeless before paying their wages, and lives in the teams dressing room and floor shop under the arrangement of the owners Kuban; Allen Iverson has become a negative textbook: Iverson, who has never carefully managed his finances or even kept his own accounts, has a group of idle brothers who make fun every day and have lost $150 million saved by Iversons career. Although he can get the first pension of the League at the age of 40, the previous few years have been quite difficult, for which he has to attend various invitational tournaments to earn money and support his family. How ugly the situation is. And Pippen is going to Finland in 2008 to play in the league and keep the plane he has never flown before, which is pitiful and ridiculous. So the League decided to raise the draft age in order to allow players to take more college courses and at least understand how to manage their finances. The NBA also offered special courses for players in the middle of the season, calling on players to pay attention to financial management, spend money carefully, and even take 10% of their annual salary early in the labor agreement to keep them in custody in case of future bankruptcy. But a person really wants to lose his family, there are ways, players need to understand that money is temporary, only know how to open source and save money, can have a long-term future. This is a shattering truth for the working class, or for the billionaire. Source: Netease Sports Author: Editor-in-Charge: Ouyang Shun_NS4899

Players spend a lot of money, open a bottle of wine in the nightclub for tens of thousands of yuan, spend hundreds of thousands of dollars a night on carnival, or pile up in the garage several times a year without opening it, just for the sake of taking pictures to show off and the luxurious super run used by teammates to boast, and ultimately feel sorry and sorry for themselves. Of course, what is more terrible is that there are a group of idle friends and relatives who can do nothing to defeat the hard-earned wages of the players every day, and there is really nothing to do: Drant West, who has a base salary, has to support eight unemployed relatives of the whole family, who are homeless before paying their wages, and lives in the teams dressing room and floor shop under the arrangement of the owners Kuban; Allen Iverson has become a negative textbook: Iverson, who has never carefully managed his finances or even kept his own accounts, has a group of idle brothers who make fun every day and have lost $150 million saved by Iversons career. Although he can get the first pension of the League at the age of 40, the previous few years have been quite difficult, for which he has to attend various invitational tournaments to earn money and support his family. How ugly the situation is. And Pippen is going to Finland in 2008 to play in the league and keep the plane he has never flown before, which is pitiful and ridiculous.

So the League decided to raise the draft age in order to allow players to take more college courses and at least understand how to manage their finances. The NBA also offered special courses for players in the middle of the season, calling on players to pay attention to financial management, spend money carefully, and even take 10% of their annual salary early in the labor agreement to keep them in custody in case of future bankruptcy. But a person really wants to lose his family, there are ways, players need to understand that money is temporary, only know how to open source and save money, can have a long-term future. This is a shattering truth for the working class, or for the billionaire.