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Why 80% of NFL players are broke 2 yrs after they retire


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Sure guys like Sammy Watkins get $12 mil guaranteed, but a lot of these rookies are trying just to get a roster spot and don't have cash like that to throw around. I think that kind of hazing is disgusting. Way to be a good example for the young guys. Could you imagine stuff like this going on in any other profession? You would think after the Incognito stuff these teams would tighten the reins on these guys

 

The year or two that Jon Corto played for the Bills, he had a show on with Brad Riter.

 

I just remember it was bye week, or maybe just the usual Tuesday off day. I think the show was on a Wed. night. And, Brad asked him what he did the day before, and he said the veteran linebackers made the rookie linebackers take them out for a steak dinner that cost thousands of dollars..............The dinner was at one of the top steak houses in Manhattan!!

 

So, not only did they have to pay this expensive dinner, they had to pay for the plane ride, taxis, all that.

 

Corto was kind of depressed. He said "I don't make that much money to be doing that." The main hazer seemed to be Kawika Mitchell. He was making a few million, while Corto was making a couple hundred thousand or whatever the minimum was, and knew he wasn't going to be a long time veteran at any point.

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I like florio more than most and I'm not in the group bashing reporters for sharing players tweets as news- but he got too carried away. A good reminder for him that just because most athletes make things easy on journalists doesn't mean that his job should be easy/thought-free.

 

He might have a slightly warped perspective given he's coming from a non-journalist background.

 

I agree. Florio needs to lighten up on this one.

 

The idea that someone might have to corroborate a story is now earth shattering.

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It is ridiculous. Living in FL, my neighbor was a RB for the Bucs, and down the street one of the WR for the Bucs lived there. They are both gone now as they are put of the league. My neighbor was foolish enough to have a Cadillac Escalade EST, a 70's souped up redone car, and get this a Rolls Royce.

 

He spent his way to nothing and I heard when out of the NFL, he was caught up in some kind of Medicare Fraud and in jail. It's sad as he is a nice guy, who made some very bad decisions. The WR made it in the league for five years or so, and they had to sell their house and Bentley as well.

 

I don't think it's everyone, but so many of these guys are given good financial counseling, but they don't take it. They far too often act like they are going to play forever at least by their spending habits. Then it's one sad story after another post football.

 

The real problem with football & players going broke is out of any of the sports their careers are the shortest & they make the least amount of money. An average starting left handed pitcher in the big leagues is making $11 - $12 million per season. Most of these NFL players don't see that in their entire careers.

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I remember watching the "TO Show" (yes I admit it) and thinking the whole time he was going to end up broke. He had those two women on his payroll who seemed to do nothing but set up his social calendar and then these players feel the need to keep their friends and family on the payroll because they were all together back in the day and promised they would take care of them if anyone became successful, yada yada. I think it was TO who was paying a bunch of his friends' cell phone bills every month. They think the money will always be there. It can be, if they invest wisely. But many don't take the time to educate themselves on that until its too late.

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We are taught from youth to embrace the consumption driven society. We are ill prepared for wealth as there are no courses you take in high school to prepare one for success. Nationwide, we are plagued with millions with 401k's that are unsatisfactorily filled to meet the demands of retirement. As a part of this consumption lifestyle, certain expectations that are drilled into young college players preparing for the pro game, and also to the rest of us who are exposed suddenly to great wealth. These same expectations lead to rapid ruin and the appearance of irresponsibility and recklessness but is an outgrowth of societal norms run amuck. These include, in no particular order:

 

1. Every pro player requires a fast car and a big mansion that may create car and mortgage payments that cannot be met once the player's career is over. Even with a college degree, most everyone is incapable of starting a career that will rival the money they receive from a pro football career. But, they've been handed everything else in their lives up until now due to football, why would that change?

 

2. Pro players are expected to be the life of a never ending party. As they are the person in the group of friends and entourage with the money capable of keeping up with this lifestyle, it is almost always their treat.

 

3. What money they do invest is at higher risk. Half of all doctors, for example have their investment portfolio balance zeroed out at some point in their lifetime by reckless financial advisors.

 

4. Players who grew up in poverty are expected to purchase houses and amenities for their families. This is a drag on their wealth.

 

5. Anyone coming into the league fresh from college suffers from what we all suffer from at that age: a sense of invincibility. They know the stars in the league like every one of us and expect to follow their success playing for six to twelve years and amassing a king's ransom for it. Careers cut short by injury or incapacity to cut it in the NFL are inconceivable to the young mind. The difference between contract money and guaranteed money is lost on them. They expect to be on the gravy train indefinitely.

 

They're kids, they're young, they're naive, they don't understand the value of a dollar, and they only know the societal expectations of being rich. I once had a niece who when she was young told me she wanted to be a millionaire when she grew up so she could buy anything she wanted. I reminded her that to be a millionaire, she had to save one million dollars. She was less enthusiastic at that moment.

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The year or two that Jon Corto played for the Bills, he had a show on with Brad Riter.

 

I just remember it was bye week, or maybe just the usual Tuesday off day. I think the show was on a Wed. night. And, Brad asked him what he did the day before, and he said the veteran linebackers made the rookie linebackers take them out for a steak dinner that cost thousands of dollars..............The dinner was at one of the top steak houses in Manhattan!!

 

So, not only did they have to pay this expensive dinner, they had to pay for the plane ride, taxis, all that.

 

Corto was kind of depressed. He said "I don't make that much money to be doing that." The main hazer seemed to be Kawika Mitchell. He was making a few million, while Corto was making a couple hundred thousand or whatever the minimum was, and knew he wasn't going to be a long time veteran at any point.

 

That's an incredibly frustrating story to read. Especially for a fringe guy - he doesn't want to make waves and wants to be well liked by the vets he's relying on to help him learn the game and have a shot....

 

It would be so much better for the team if one of those vets swooped in a few days later and covered it- leaving it as a funny prank that can be spun positive instead of being such a hit to a youngsters account.

Edited by NoSaint
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I recall an article about Ryan Fitzpatrick when he was with the Bills. Apparently lived in a normal house on a normal street in Hamburg. Had cookouts with the neighbors. I guess he did learn a thing or two at Harvard.

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That's an incredibly frustrating story to read. Especially for a fringe guy - he doesn't want to make waves and wants to be well liked by the vets he's relying on to help him learn the game and have a shot....

 

It would be so much better for the team if one of those vets swooped in a few days later and covered it- leaving it as a funny prank that can be spun positive instead of being such a hit to a youngsters account.

 

Yeah, it sucks. I really felt bad for him. Who knows if it was the only time, either.............It would be nice if one of the vets did that, but I doubt they did.

 

I don't even think Corto ever played a down at linebacker anyway - he was all special teams.

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I recall an article about Ryan Fitzpatrick when he was with the Bills. Apparently lived in a normal house on a normal street in Hamburg. Had cookouts with the neighbors. I guess he did learn a thing or two at Harvard.

 

That was his Buffalo home. He has quite a spread in Arizona with built in training facilities, etc. Most players have a "team city home" and a real home back wherever they are from.

 

You are correct that he should be better off in the long run, given his degree is in finance as well, but it's not like the guy is living like one of us.

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Yeah, it sucks. I really felt bad for him. Who knows if it was the only time, either.............It would be nice if one of the vets did that, but I doubt they did.

 

I don't even think Corto ever played a down at linebacker anyway - he was all special teams.

 

i doubt they did too. its a shame. i dont mind pranks that are funny and then you let the guy know you have his back. i really dislike the ones where you take advantage of someone in a vulnerable spot (like a UDFA on the bubble for the team trying to hang with the vets)

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