We see these big $$$ contracts in sports, all sports, from an outsider’s point of view.
They don’t get that $$$ in total. Uncle Sam gets a huge chunk right off the top, about 40%. Then the states and cities that the PLAY IN, not live in, gets their share when they come to town. Then, the state and municipalities they actually live in gets their cut. And their agent gets his 10-15% cut. So in the end he didn’t actually get $17 million, he got about a third of that........................
Certainly something like that....although after eight seasons he should have been all set, or at least you and I probably would have been. Too many of these players don’t manage their money and the running back position isn’t the longest career. It’s my understanding that the average players’ career is just 2.5 years. That also considers those that often play well over 10 years (QB’s, kickers, ...). So I can see how this happens over and over...they get in the NFL thinking “I’m rich” and immediately spend that way. Then the supply stops suddenly and they’ve no plan.
I’d think that I could manage to get by very comfortably on $6,000,000 without touching the principle.
But then, I’m not a thug with a posse to pay for