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Playoffs
09-29-2012, 01:26 PM
Conventional wisdom is that professional athletes blow a lot of money on useless crap. Spoiler alert: professional athletes blow a lot of money on useless crap. But that's barely the tip of the iceberg. I was surprised to discover -- and I think others will be, too -- how easy it is to go broke...


Broke -- an ESPN 30-for-30 film airing Tuesday, October 2 @8:00pm ET (http://espn.go.com/30for30/film?page=broke)

According to a 2009 Sports Illustrated article, 60 percent of NBA players are broke within five years of retirement. For 78 percent of NFL players, it takes only three years. Sucked into bad investments, stalked by freeloaders, saddled with medical problems, and naturally prone to showing off, many pro athletes get shocked by harsh economic realities after years of living the high life. Drawing surprisingly vulnerable confessions from retired stars like Keith McCants, Bernie Kosar and Andre Rison, as well as Marvin Miller, the former executive director of the MLB Players Association, this fascinating documentary digs into the psychology of men whose competitive nature can carry them to victory on the field and ruin off it.

Director Billy Corben (The U, Cocaine Cowboys, Limelight) paints a complex picture of the many forces that drain athletes' bank accounts, placing some of the blame on the culture at large while still holding these giants accountable for their own hubris. A story of the dark side of success, "Broke," is an allegory for the financial woes haunting economies and individuals all over the world.
preview videos: http://espn.go.com/30for30/film?page=broke or http://www.youtube.com/watch?v=efzKNh-_poU

GP
09-29-2012, 01:41 PM
I just can't bring myself to watch that one. I hate stories of failure.

Intriguing? Yes. Just not something I like to sit through for a long time.

You would think the league and its owners would take a bigger role with their players...maybe to the point of even forcing them to enter a significant portion of the paychecks into solid, LEGITIMATE invest vehicles of some sort.

I know this is entertainment business. I know these are grown men. But it would be cool if somehow there was a spirit of stewardship in the NFL where guys were saved form themselves. Not excusing their ignorance, just saying that sometimes cycles of poverty cane broken less by handouts and more by modeling for the modern-day athlete what it's like to measure out your finances in a more stable manner. Just sayin'.....

Playoffs
09-29-2012, 02:11 PM
...You would think the league and its owners would take a bigger role with their players...maybe to the point of even forcing them to enter a significant portion of the paychecks into solid, LEGITIMATE invest vehicles of some sort...

Collectively bargained, not an option.

axman40
09-29-2012, 03:36 PM
Conventional wisdom is that professional athletes blow a lot of money on useless crap. Spoiler alert: professional athletes blow a lot of money on useless crap. But that's barely the tip of the iceberg. I was surprised to discover -- and I think others will be, too -- how easy it is to go broke...
Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET (http://espn.go.com/30for30/film?page=broke)


preview videos: http://espn.go.com/30for30/film?page=broke or http://www.youtube.com/watch?v=efzKNh-_poU
Coke and Hookers for 500 Alex!
:kitten:

2012Champs
09-29-2012, 08:42 PM
I just can't bring myself to watch that one. I hate stories of failure.

Intriguing? Yes. Just not something I like to sit through for a long time.

You would think the league and its owners would take a bigger role with their players...maybe to the point of even forcing them to enter a significant portion of the paychecks into solid, LEGITIMATE invest vehicles of some sort.

I know this is entertainment business. I know these are grown men. But it would be cool if somehow there was a spirit of stewardship in the NFL where guys were saved form themselves. Not excusing their ignorance, just saying that sometimes cycles of poverty cane broken less by handouts and more by modeling for the modern-day athlete what it's like to measure out your finances in a more stable manner. Just sayin'.....


Employers should be able to force employees to spend money in a manner approved by the employer? Sounds fantastic

GP
09-29-2012, 09:36 PM
Employers should be able to force employees to spend money in a manner approved by the employer? Sounds fantastic

No, give them 50% salary and 50% investment options where the player can direct their 50% investment money into ANY vehicle of their choice.

Rather than letting the player waste it on some shady scheme the player's cousin has concocted to embezzle the player's money through.

A strict set of investment companies, thoroughly audited and vetted for genuine compliance, all in one huge list the player and his agent can choose from.

This isn't trying to figure out how to harness time travel. It's not that hard.

2012Champs
09-30-2012, 09:07 AM
No, give them 50% salary and 50% investment options where the player can direct their 50% investment money into ANY vehicle of their choice.

Rather than letting the player waste it on some shady scheme the player's cousin has concocted to embezzle the player's money through.

A strict set of investment companies, thoroughly audited and vetted for genuine compliance, all in one huge list the player and his agent can choose from.

This isn't trying to figure out how to harness time travel. It's not that hard.



How can you say no when that's exactly what you are suggesting be done? It doesn't matter how good you try to make your forced option of where their pay must go it is scenario in which an employer controls 50% of your pay and directs what you can or can not do with it. Whats hard is trying to understand how you'd be okay with empowering employers to force employees into spending their income how the company has specified. It's a horrible idea

StarStruck
09-30-2012, 11:15 AM
Is the airing Tuesday the 2nd or Thursday the 4th?

Playoffs
09-30-2012, 11:51 AM
Is the airing Tuesday the 2nd or Thursday the 4th?

Doh! http://obamadiary.files.wordpress.com/2011/09/homer_doh.pngTuesday, fixed it.