Posted on 12/19/2015 6:15:51 AM PST by C19fan
Clinton Portis made enough money during his NFL career in Denver and Washington that he should be set for life: In nine NFL seasons, Portis made more than $40 million.
But Portis isn’t just not set for life, he’s broke. Portis filed for bankruptcy this week, saying he has debts of more than $5 million that he can’t afford to pay.
(Excerpt) Read more at profootballtalk.nbcsports.com ...
As one NBA player once said...We make a lot of money but we spend a lot of money....
It is if you treat it that way and wind up like Portis.
One of the gems of the story, however, was that when he needed a job driving a truck, the guy who controlled all the trucking licenses was a guy who had been convicted (if I remember correctly) of being a part of the murder of three civil rights workers in the late 60s. The guy was a huge fan, gave him a license immediately.
The problem with claiming DuPree was so great is that we only have high school footage of him, plus really only one solid season at OU, with a bust game in the Fiesta Bowl.
Moreover, I think as Barry Sanders, Jim Brown, and Emmitt Smith showed, to be the "best" you have to have consistency, durability, and above all, discipline to go the distance. We never will now how "great" Marcus DuPree, or Bo Jackson, or any other number of "incredible" runners would have been because they just didn't hold up. Some of it is bad luck, but in DuPree's case, his achilles' tears were poor conditioning. Even back then, in better condition he could have recovered from the knee injury---many, many had far worse (Willis McGahee, Amare Soudamire) and not only came back but were effective.
Thanks for posting this about Tyron Smith!
The best part of bankruptcy is that this payment stops. Probably the most important aspect of being a manager is to prevent this sort of thing from happening. Evidently, he wasn't doing his job.
Yeah, watched that 30 for 30 on Iverson, too. What a sad case. He above all should have realized that at his size, only consistent discipline would keep him on the court and earning.
Portis issued a statement. “I spent 90% of my money on liquor and women, and I wasted the rest”.
What happens to pro athletes is shameful. They make big money for a relatively short time, but can’t adjust their finances once their career ends. I think the leagues should require deferred compensation for a portion of their salary and put it into a defined benefit plan. Yes, the athletes have personal responsibility, but how many newly rich 21-25 year olds have the maturity to make logical life decisions?
CORRECTION: Meant to say "agent" not "manager".
A fool and his money are soon parted.
Willis McGahee, I remember watching that game, when they first showed showed the hit his knee took. It was brutal to watch...
I thought it ruined his career.
Having knee surgery at one time, I can’t imagine the effort it took to get back in condition to play again...
His injury was far, far worse than mine.
The man has guts and fortitude for sure...
I guess he didn’t learn any math at The U.
I guess putting it in the bank and telling everyone NO is out of the question.
A friend of wifey won a million dollars in a church raffle years ago....payable at 50K over 20 years. She got inundated with money requests, including a relative she’d never met who demanded she pay for his looming heart transplant.
OMG, I hope he has a go fund me page. /s
Many athletes with large paychecks and short careers could stand to behave more niggardly toward their finances..
The only thing we at USC didn’t completely love about Tyron was that he went pro after his junior year, although we knew he was obviously ready and certainly wished him the best. (We had Matt Kalil, now the Vikings’ starting LT, simultaneously: nice bookends). I’d seen that article when it was published and realized then that he’d do just fine, as he has. The Cowboys? Not so much.
Montgomery Brewster had one hell of a time getting rid of his money... it’s difficult to go thru a large sum and have absolutely no assets in residual. Party, party, party???
A guy I used to work with was friends with Lawrence Phillips. Went to St. Louis to see him and said he had the best TV and stereo in each room of the house.
He and another friend took Lawrence to the airport to pick up a model from NY. She got mad that Lawrence had friends with him and had them take her back to the airport where he bought her a first class ticket back to NY.
Said Lawrence had no common sense. Time has proved that.
Typical story, horrible investments, baby mamas (yes plural), gambling, bling, and family members. I think these athletes need to set up some trust where they deposit their earnings and they are only given a monthly allowance.
...
He’ll still get an NFL pension. Even OJ gets that.
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