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Six years after getting a guaranteed 26 million dollar contract, Rose Bowl hero Vince

sackman said:
I bet it's that high to weed out the potential scam artists. If you're going to try to scam an NFL player, you're going to have to pay for the privilege. Makes sense to me.
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I would think the background check and required $4 million of liability insurance would weed out the scam artists pretty well. This is just for the NFLPA to make money. And the pool of potential clients is quite limited, especially if you're in a place like Denver.
 
I would also think that having the NFLPA stamp of approval may give someone certain access to players and potentially some cooperation in terms of payroll deductions, etc. but I don't see how they could enforce any kind of limitation on a player using any financial advisor he wanted to outside the system.
 
MtnBuff said:
This kind of thing can't be good publicity for the NFL Lots of these guys are gifted athletes but come out of poverty which is part of what drives them to excell in the first place but doesn't prepare them for reality once they are successful.

I wonder if the NFL and the NFLPA could ever get together and require that a certain percentage of all contracts be set aside in a restricted manner to be paid out (with interest) over the life of the player. You could take 20-25% of the first $500,000 in income per year plus 10% after. Even for the rank and file guys playing a couple years they would never be in a starvation situation again. It could also be a guarantee towards child support etc. so their spread seeds don't suffer either.

Don't know the exact details of course but it would make sense for everyone and protect players from themselves (and from greedy agents, hangers on, etc.)
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Does your employer take most of your money and withhold it because he feels you may not be capable of handling it? You are talking about a can of worms here. Agents have been front-loading contract for a long time. There are all sorts of issues with what you propose. People want there money. The issue here is what they do with their money after they get it.
 
Buffarino said:
I would think the background check and required $4 million of liability insurance would weed out the scam artists pretty well. This is just for the NFLPA to make money. And the pool of potential clients is quite limited, especially if you're in a place like Denver.
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Why would you spend two seconds worrying about these guys and trying to protect them like they are children? They live in the real world, just like us. Get your ***** squared away or deal with the consequences.
 
BlackNGold said:
Does your employer take most of your money and withhold it because he feels you may not be capable of handling it? You are talking about a can of worms here. Agents have been front-loading contract for a long time. There are all sorts of issues with what you propose. People want there money. The issue here is what they do with their money after they get it.
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Understand and in general agree with what you are saying. At the same time professional athletics is a substantially different situation that at least deserves some consideration of an alternative system of compensation. Very few occupations involve the amount of money that pro sports involves, the short earning time, and the young ages of those involved. It is also a very public occupation and each time that a former athlete makes the news for something like this it impacts the reputation of the sport.

My employer does take a chunk of my income as my mandatory contribution to my pension plan. It isn't the percentages that I mention here but I also can't access that money until I am substantially older than these athletes would be under this plan.

I am not saying that they should absolutely do this but I do think for the good of the players and the league it is worth looking at. The amount of money deducted is not going to substantially change the current lifestyles of the players at the moment but does provide a substantial security for the future.
 
I'm okay with somebody squandering millions upon millions of dollars in a short amount of time. It's incredibly stupid, but it's their choice.

I am not okay with them receiving government benefits if they go broke. If you squander that much money you deserve no help from others unless they give it to you voluntarily...
 
Unless you're best friends with VP Cheney, who'll get the Florida Guv to spend $330mil in teachers' retirement bonds on your company's stock on Friday. Then on the next Tuesday, because your name is Kenneth Lay, you can announce Enron's bust. Ah well, the sale went thru. Brother Jeb did his family proud.
 
DesertDawg526 said:
I'm okay with somebody squandering millions upon millions of dollars in a short amount of time. It's incredibly stupid, but it's their choice.

I am not okay with them receiving government benefits if they go broke. If you squander that much money you deserve no help from others unless they give it to you voluntarily...
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amen
 
Well he can become an announcer... Oh wait you would have to actually know what is going on in a football game to do that. He's screwed.
 
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