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Despite making more than $40 million, Clinton Portis is broke
NBC Sports ^ | December 19, 2015 | Michael David Smith

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 ...


TOPICS: Sports
KEYWORDS: bankruptcy; football; nfl; stupidity
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To: Popman

As one NBA player once said...We make a lot of money but we spend a lot of money....


21 posted on 12/19/2015 7:05:05 AM PST by oust the louse (The LEFT has no principles, it only has goals! They are the party of death and taxes.)
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To: Don Hernando de Las Casas
$40 million is definitely NOT n rich!!! 40 mill is just plain RICH, really and truly rich.

It is if you treat it that way and wind up like Portis.

22 posted on 12/19/2015 7:08:44 AM PST by Vaquero ( Don't pick a fight with an old guy. If he is too old to fight, he'll just kill you.)
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To: C19fan
Watched a great ESPN (don't usually say that) "30 for 30" on Marcus DuPree, the OU running back that was touted as "the best that never was." He signed in the early 80s for $5m (a lot of money back then) and let a "reverend" friend handle it for him and of course he had nothing.

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.

23 posted on 12/19/2015 7:21:55 AM PST by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: God luvs America

Thanks for posting this about Tyron Smith!


24 posted on 12/19/2015 7:22:12 AM PST by GBA (Here in the matrix, life is but a dream.)
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To: Popman
40 million minus 10 % agent fee = 4 million = 20 million left.

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.

25 posted on 12/19/2015 7:23:43 AM PST by immadashell (The inmates are running the asylum)
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To: Extremely Extreme Extremist

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.


26 posted on 12/19/2015 7:24:14 AM PST by LS ("Castles Made of Sand, Fall in the Sea . . . Eventually" (Hendrix))
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To: C19fan

Portis issued a statement. “I spent 90% of my money on liquor and women, and I wasted the rest”.


27 posted on 12/19/2015 7:29:01 AM PST by Stevenc131
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To: C19fan

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?


28 posted on 12/19/2015 7:29:20 AM PST by Boomer One ( ToUses)
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To: immadashell
Probably the most important aspect of being a manager is to prevent this sort of thing from happening

CORRECTION: Meant to say "agent" not "manager".

29 posted on 12/19/2015 7:29:51 AM PST by immadashell (The inmates are running the asylum)
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To: C19fan

A fool and his money are soon parted.


30 posted on 12/19/2015 7:33:41 AM PST by GenXteacher (You have chosen dishonor to avoid war; you shall have war also.)
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To: LS

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...


31 posted on 12/19/2015 7:34:46 AM PST by Popman (Christ alone: My Cornerstone...)
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To: C19fan

I guess he didn’t learn any math at The U.


32 posted on 12/19/2015 8:02:33 AM PST by Henry Hnyellar
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To: C19fan

I guess putting it in the bank and telling everyone NO is out of the question.


33 posted on 12/19/2015 8:14:32 AM PST by dainbramaged (Get out of my country now)
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To: God luvs America

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.


34 posted on 12/19/2015 8:21:44 AM PST by ErnBatavia (It ain't a "hashtag"....it's a damn pound sign. ###)
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To: C19fan

OMG, I hope he has a go fund me page. /s


35 posted on 12/19/2015 9:13:10 AM PST by Guardian Sebastian (Life is a bitch, why elect one?)
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To: MortMan

Many athletes with large paychecks and short careers could stand to behave more niggardly toward their finances..


36 posted on 12/19/2015 10:22:45 AM PST by Dr.Deth
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To: God luvs America

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.


37 posted on 12/19/2015 10:52:28 AM PST by Hebrews 11:6 (Do you REALLY believe that (1) God IS, and (2) God IS GOOD?)
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To: C19fan

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???


38 posted on 12/19/2015 11:22:50 AM PST by Ozark Tom
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To: Boomer One

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.


39 posted on 12/19/2015 1:10:03 PM PST by Mean Daddy
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To: C19fan

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.


40 posted on 12/19/2015 1:19:11 PM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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