Monday, February 21, 2011

Perhaps this is part of the problem

Following the example of other athletes who spend money like water, or make it rain tens of thousands of dollars (I'm looking at you Pac-Man Jones), Bryant McKinnie managed to run up a $100,000 bar tab over the NBA All-Star weekend. This large sum was apparently spent on 15 bottles of champagne. This averages out to approximately $6666 per bottle. The champagne better contain liquid gold bullion for that money.

Keep in mind, the NFL is facing a potential lockout in the next few weeks. At that point in time, there won't be any paychecks forth coming. Whatever McKinnie has aside has now decreased by that $100,000. Judging by his lack of control with the ol' wallet, I'm guessing that amount isn't really a whole lot.

If he has any financial advisers, they will hopefully yank him aside and let him know that dropping money like that at this time is not a good idea. A lack of forethought on financial matters such as this works as an example as to how so many athletes end up broke within five years of leaving whatever league they're playing in. Just look at Antoine Walker, who is playing in the NBA Development League because he needs the money. He's broke after making over $100 million in his NBA career. In fact, fellow player Nazr Mohammed paid half of the fee for his bankruptcy attorneys. Then again, Mohammed and Walker have a history together, having been robbed together in January 2000 outside a Chicago restaurant, so these decisions seem to run together.

This mindset is why so many athletes struggle with their finances after their playing careers. I realize that they regard college as essentially a minor league for whatever sport they play, but maybe they should pay attention in class for once. It would save them in the long run.

No comments:

Post a Comment