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CJ McCollum - Out of 450 players 150 are living paycheck to paycheck

Discussion in 'NBA Dish' started by ThatBoyNick, Apr 7, 2020.

  1. YOLO

    YOLO Member

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    This is the highest level of basketball. holding every guys hands isn't exactly realistic. especially when it comes to your own personal decisions. at the end of the day nobody can force anyone to do anything though. you can only do so much and put so much out there. the resources are there to begin with. there's stories all the time. J. Tatum even said this publicly when he first got drafted about beal's advice and how he helped him. a lot of players are doing things like this. good to see as well
     
    #21 YOLO, Apr 7, 2020
    Last edited: Apr 7, 2020
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  2. Easy

    Easy Boban Only Fan
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    Highest level of basketball does not equate highest level of intelligence. We all know that a lot of NBA players would not be able to make a middle class living if they were not talented at playing basketball.

    I get what you say. And it is always like that in all walks of life. The smart kids will take advantage of resources and helps. The dumb ones will squander what they have. Unfortunately a large proportion of pro athletes are the latter. What CJ said is sad. And the fact that we are not surprised by it is even sadder.
     
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  3. YOLO

    YOLO Member

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    It is. However the sad part doesn’t start if/when they get an actual chance to get in the league. Many of them are in far worse where they’re coming from and the league is the best thing to happen to them. If you’re trying to get these guys in a better place those are where you’re supposed to start but unfortunately that’s not exactly plausible all around.

    Highest level of basketball just means your job is with the big boys. Nobody is holding your hand or forcing you to do anything that’s comes down to your own choices. With the The G-league deals/non guaranteed/min collectively that number cj estimated makes sense.
     
    #23 YOLO, Apr 7, 2020
    Last edited: Apr 8, 2020
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  4. BigBum

    BigBum Member

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    60 players 2-way contracts
    60 players 10-day contracts
    100 + players, non-guarantee contracts

    #1 overall nba pick Anthony Bennett makes only 6000 dollars this season. 26 years old
     
    #24 BigBum, Apr 8, 2020
    Last edited: Apr 8, 2020
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  5. ThatBoyNick

    ThatBoyNick Member

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    Totally right, median pay is 2.9 million.

    So the median American makes about 1% of the median NBA player.
     
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  6. Jturbofuel

    Jturbofuel Member

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    Lots of players extended families and friends have duped them into thinking they are responsible to take care of them with their salary. Its a hard thing for a lot of guys to tell the same people no. I heard stories about a professional athlete that let his mother handle a lot of finances and she was giving so much money away he finally had to cut her off and he still went broke.
     
  7. Asian Sensation

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    The thing is a lot of these guys that haven’t gotten big contracts (mostly younger guys/journey men) see the guys that do make 100s of millions of dollars and they see them flexin and so of course naturally they want to keep up. Combine that with their ego/self belief/banking on themselves that they actually will one day get a big contract and what CJ is saying sounds spot on.

    Sometimes even if they get that big contract it doesn’t solve the underlying issue.

    https://finance.yahoo.com/amphtml/n...life-after-losing--110-million-214644672.html

    https://www.cnbc.com/amp/2016/07/08...-what-he-learned-from-losing-100-million.html
     
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  8. roslolian

    roslolian Member

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    Majority of these started working when they were kids so they have no concept of money. It's probably ok the first couple of years when they are just making a couple mill but once the big bucks come rolling and you got used to living the lifestyle it suddenly gets hard to track. More importantly these guys come part and parcel with a posse they have somebody in that group probably act as the "Treasurer" and manage the funds despite the fact those guys also don't know what they are doing. You know, like Tmac hiring his cousin as his trainer instead of getting an actual professional. He prob also has another homie managing his finances thats why he still needs to work as a broadcaster after making hundreds of millions of dollars instead of picking and choosing his spots like Kobe.

    The league needs to save players from themselves by instituting some kind of escrow account that automatically puts like 1% of every paycheck they get into a retirement fund or something. Even 1% of their salaries over the years is gonna be enough to set them up for life.
     
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  9. Senator

    Senator Member

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    Culture of handouts - it is what it is, as they say. It's something Barack agreed with in private - how toxic sports and entertainment culture is to marginalized communities. The heroes end up being the enemies.
     
  10. bloodwings19

    bloodwings19 Member

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    If they keep their stuff, some of the NBA players will be much better. CP3 is smart because he flip houses unlike some players that buys 1 house and sell, get into a bigger, newer house. Then another bigger house and so-on instead of keeping houses. Cars, if they keep some of their cars they would have assets. They keep buying and updating their cars, it is like leasing. Friends, they buy them vacations and cars. Friends can't and won't pay it back. GFs, they burn money then burns faster if they have kids. And bonfire if lawyers involve in child support. I'm talking about NBA players that doesn't have Harden's type of contracts. Some of us can learn from this, keep your assets.
     
  11. rockets13champs

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    Most nba players put 90% in savings and use 10% of their money. Remember most nba players aren’t lebron or harden. They make around 1-2 million a year. Now think about it. U use the average salary of a man 100k. Which outside of Houston isn’t a lot of money. In Places like ny/LA/Sf. Think about it. As an nba player u make BIG money for 5 years then another role player is drafted and you are replaced. Stars are the ONLY players to have longevity in careers. If you spend 100k a year and make a million your salary only gonna last you 5 years. Let’s not forget an nba salary taxed and money goes to agents.so 1 million is really taking home close to 500k. So in essence they have the same about of money as someone who has been 100k for 5 years. As an nba player u make 5-7 million age 18-25 then u get cut for next rookie and that 5 million gotta last 60+ years
     
  12. blackistan

    blackistan Member

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    This is what happens when you don't know how to spend/save properly. Regardless of your status as a player in the league you're making min 500k but if you don't know how to manage your money then yea you're probably in trouble but thats on you. These guys def make more than enough to get by I don't buy this crap.
     
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  13. RasaqBoi

    RasaqBoi Member

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    I knew a girl in Miami who would get monthly checks and rolls royces from Antoine Walker. She had a bf and would just use him. I wasn’t surprised when they said he was broke.
     
  14. SamFisher

    SamFisher Contributing Member

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    Hahaha, no. This is what happens when there's a global pandemic and the worst economic collapse of hte last 100 years. That's not on you any more than it is the millions of people unemployed and not able to make rent now.
     
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  15. SamFisher

    SamFisher Contributing Member

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    Dumb basketball players are dumb - or maybe we have set up a system that makes them zero-wage slaves till they turn 18, where they're literally not allowed to manage money because they aren't allowed to make any but they're supposed to magically turn into personal finance gurus when they go pro.

    And throw a once-in-a-centruy economic collapse on top of it. Y U DUMB PLAYERS SO DUMB DUMB PLAYERS SO DUMB!!
     
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  16. rockbox

    rockbox Around before clutchcity.com

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    You also have to account for the extra state taxes and the money paid to their agents and management. I believe it but it's kinda sad.
     
  17. lnchan

    lnchan Sugar Land Leonard

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    One of my childhood friends and owners for Active Faith sports goes to G-League teams teaching about these life skills... emphasizing you aren't going to be playing forever.
     
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  18. tycoonchip

    tycoonchip Member
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    When i hear something like this it makes me want to stop supporting the NBA and these prima donnas.
     
  19. Exiled

    Exiled Member

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    *I understand the possibility of NBA players going broke ,but I don't fully understand how average Joe can afford or justify a new truck,RV,house and vacations with net-income less than 200k


    *a Camry's owner opinion expressed here
     
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  20. boomboom

    boomboom I GOT '99 PROBLEMS
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    The State of Oregon has a 10% income tax...so CJ (and the rest of the Blazers) is only pulling in 90% of his contract before expenses.

    But...no sales taxes in Oregon...so all of his in-state expenses are "cheaper".
     

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