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TO close to signing with Allen (TX) Wranglers


Beerball

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HA! Thats why he was on his way to Texas yesterday...he was tweeting how he had missed his flight because he was stuck in stand still traffic for over an hour....

 

Sorry, no link. Pearson is on the local ESPN (103.3) station and he indicated that the Allen Wranglers were 'close' to signing Owens to a deal that would include salary and partial ownership in the team.

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Ho man, his financial troubles must be no joke.

 

link

 

That's what happens when you have six baby mamas and the judge gives each of them a huge monthly nut because you are rolling dough. Then suddenly you stop earning and....oops.

 

But my guess is TO is doing this to stay in some kind of game shape and he thinks this is his way to prove that he can still play at the NFL level (which I think he can and I think there's a reasonable chance someone signs him for next year).

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I can't for the life of me figure out how athletes burn tens of millions of dollars before they're even done playing. I could live like a king the rest of my life with $2 Million.

Between Agents fees, bills and expenses for your houses and cars, and every person you know (and don't) coming to you for money/loans and with investment opportunities, its very easy to blow through it when your not used to having that kind of money. Not many athletes come from backgrounds where they already had sizeable bank accounts so onoce they get the money, they want to get everything they always wanted and what they think they need to join the rich group. Also with money comes the leaches, people who think that they should be getting some of your money because they know you and had been friends with you.

 

Atleast when your wealthy, you don't have to worry about the government coming after you to collect taxes :rolleyes:

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Between Agents fees, bills and expenses for your houses and cars, and every person you know (and don't) coming to you for money/loans and with investment opportunities, its very easy to blow through it when your not used to having that kind of money. Not many athletes come from backgrounds where they already had sizeable bank accounts so onoce they get the money, they want to get everything they always wanted and what they think they need to join the rich group. Also with money comes the leaches, people who think that they should be getting some of your money because they know you and had been friends with you.

 

Atleast when your wealthy, you don't have to worry about the government coming after you to collect taxes :rolleyes:

 

The main reason I dont' have much sympathy for these guys when they throw all their money out the window is because from day ONE when you are drated into the NFL, they make advisors available to you. They have access to PLENTY of resources through the league, let alone the many private resources that they could utilize, and there is no excuse for them to ever be in a financial bind when they're earning millions per season. If they end up broke, it's because they didn't take the time to listen to the advice they were given.

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Between Agents fees, bills and expenses for your houses and cars, and every person you know (and don't) coming to you for money/loans and with investment opportunities, its very easy to blow through it when your not used to having that kind of money. Not many athletes come from backgrounds where they already had sizeable bank accounts so onoce they get the money, they want to get everything they always wanted and what they think they need to join the rich group. Also with money comes the leaches, people who think that they should be getting some of your money because they know you and had been friends with you.

 

Atleast when your wealthy, you don't have to worry about the government coming after you to collect taxes :rolleyes:

 

I would guess the number of such athletes (where they already had sizeable bank accounts) is nearly zero, yet not all of then go broke. Why is that?

 

Anyway, aren't the rumors of TO being a wrangler a couple of years old now?

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The main reason I dont' have much sympathy for these guys when they throw all their money out the window is because from day ONE when you are drated into the NFL, they make advisors available to you. They have access to PLENTY of resources through the league, let alone the many private resources that they could utilize, and there is no excuse for them to ever be in a financial bind when they're earning millions per season. If they end up broke, it's because they didn't take the time to listen to the advice they were given.

 

I agree with this.

 

I'm an understanding person, but when a guy becomes rich after not having much money and he ends up blowing it all on extravagances instead of savoring the many small comforts it can provide, that says something about his character.

 

If I ever become a multi-millionaire, most of that money is getting saved and split between charity and progeny upon my death. I mean, sure, buy a nicer house. Become a wine collector. Take an annual vacation. Treat your friends and family to a nice dinner every once in a while. That's what I consider the high life to be, not wasting thousands of dollars on a daily basis.

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  • 3 weeks later...

I agree with this.

 

I'm an understanding person, but when a guy becomes rich after not having much money and he ends up blowing it all on extravagances instead of savoring the many small comforts it can provide, that says something about his character.

 

If I ever become a multi-millionaire, most of that money is getting saved and split between charity and progeny upon my death. I mean, sure, buy a nicer house. Become a wine collector. Take an annual vacation. Treat your friends and family to a nice dinner every once in a while. That's what I consider the high life to be, not wasting thousands of dollars on a daily basis.

 

Easy to say without the dollars in your pocket.

 

Beyond that, most aren't well educated on money or taxes or investments and get a million outstretched hands - many that they trust and shouldn't. That house, those diamonds are all investments in their eyes -- those stupid parties are marketing and networking. The car is building the brand of a star. Bad choices but a lot never realize what they are doing to their future or that the money stops coming some day.

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I couldnt imagine coming from nothing, financially, socially, and emotionally and being given the keys to the kingdom all of a sudden. I guarantee id go broke...these people have had very little structure in their lives, outside of sports, how can they be expected to all of a sudden seek structure..sheesh...id be broke in moments!!!

 

Easy to say without the dollars in your pocket.

 

Beyond that, most aren't well educated on money or taxes or investments and get a million outstretched hands - many that they trust and shouldn't. That house, those diamonds are all investments in their eyes -- those stupid parties are marketing and networking. The car is building the brand of a star. Bad choices but a lot never realize what they are doing to their future or that the money stops coming some day.

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Easy to say without the dollars in your pocket.

 

Beyond that, most aren't well educated on money or taxes or investments and get a million outstretched hands - many that they trust and shouldn't. That house, those diamonds are all investments in their eyes -- those stupid parties are marketing and networking. The car is building the brand of a star. Bad choices but a lot never realize what they are doing to their future or that the money stops coming some day.

 

 

This goes for the vast majority of Americans, rich or not.

 

Our schools offer no education on financial literacy and as a result we have a country that is grossly ignorant on even the most basic aspects of personal finance.

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