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May 22, 2024
4:41:03pm
toadie All-American
I worked with a sports agent in Southern Cal early 80's. Lots of basketball
and baseball players.

It was sad how many of the players had NOTHING after a couple of years of making (what to me is) huge money. They had all kinds of old friends and relatives mooching. Sadly they were sold all kinds of tax shelters that were charades.

There were several who had their rent paid by the team, they were given tip money and cabbed to and from the arena. They had subordinated their future contract payouts and worked for years for nothing except to pay off the debts.

They were never taught what the money meant and they always thought it would go on forever. It doesn't.

Giving millions of dollars to someone who doesn't have the smarts to take care of it, can end in bankruptcy.
toadie
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toadie
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May 22, 4:15pm

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