Bad news for Neal...(Raiders news)

[nikimcbee]

Where do I send the flowers again?
http://www.nbcbayarea.com/news/sport...358698.html?dr

[GoldenRivet]

You see the problem is that a lot of these NFL players cannot live within their means.

He purchased the house before he even signed with the team.

what a Dumb-A, what if he lost a leg in a car accident on the way to the contract signing? Then he is jobless with a $3M home

you see this sort of thing all the time. I believe the statistic is that out of all the professional sports... NFL players are many many times more likely to declare bankruptcy.

im here to tell you if i was an NFL QB making millions of dollars per year, i would be perfectly content to buy a 4-5 thousand square foot 3-4 bed room home in the country, drive a decent pickup truck and stash that money in the bank for later years.

Lets assume I'm a quarterback making $2.4M / year with a 6 year contract.

thats an earnings potential of about $14.4M if i were to not renew!!!

So here is the plan.

1. Live with the folks for year one.

2. buy that 30 acres of land at a cost of about $100K and that rural farmhouse at a cost of about $220,000.

3. Have about $2M left over from year one and move into the nice rural home.

4. save save save

assuming there wasnt a contract renewal, or i was forced to retire due to injury.. thats still about $14,000,000 in the bank.

If i were drafted out of college at 24, retired at 30... the next 60 of my life I would be living comfortably in the $200K+/year income range.



pity there are so many of these guys who dont consider such things

[mookiemookie]

Originally Posted by GoldenRivet

He purchased the house before he even signed with the team.

what a Dumb-A, what if he lost a leg in a car accident on the way to the contract signing? Then he is jobless with a $3M home

And his guaranteed $32 million.

You're forgetting the fact that so many of these rookies sign huge contracts with a ton of guaranteed money.

[GoldenRivet]

Originally Posted by mookiemookie

And his guaranteed $32 million.

You're forgetting the fact that so many of these rookies sign huge contracts with a ton of guaranteed money.

problem is he had not yet signed a contract when he purchased the house in the story.

unless he signs the dotted line, he is just another random dude.

once the dotted line is signed, he becomes a multi-million dollar QB

[mookiemookie]

Originally Posted by GoldenRivet

problem is he had not yet signed a contract when he purchased the house in the story.

unless he signs the dotted line, he is just another random dude.

once the dotted line is signed, he becomes a multi-million dollar QB

I see the bigger problem is that they throw stupid amounts of money at these kids before they've even taken one step on the field. He bought the house because he knew as a #1 pick, he was due a huge payday.

I'm for the players in the current labor issue, but one thing I'm against them on is the need for a rookie salary cap.

[GoldenRivet]

Originally Posted by mookiemookie

I see the bigger problem is that they throw stupid amounts of money at these kids before they've even taken one step on the field.

I agree there... but mainly because these kids dont know much about fiscal responsibility.

Originally Posted by mookiemookie

He bought the house because he knew as a #1 pick, he was due a huge payday.

The only guarantee is when the dotted line is signed. He may have been a number one draft pick, but it only takes one car accident, or something of that nature to change that in 2 seconds.

step one: sign the contract

step two: spend the money

not the other way around