Player Money Management

[CloakNNNdagger]

.............too often abysmal or nonexistent.

From PFT:

Player borrows $500K at 23 percent interestPosted by Mike Florio on May 17, 2011, 9:13 PM EDT

With nearly four months to go until the first game checks are missed, some players already need money.

A lot of money.

Our buddy Rich “Big Daddy” Salgado of Coastal Advisors, one of the leading insurance firms for pro athletes, has posted on Twitter that an unnamed player recently obtained a $500,000 loan, at a whopping 23-percent interest rate.

For the non-math majors in the crowd, that’s $115,000 per year in interest.

Thus, even if the players who run out of money can line up enough loans to get through a full season with no pay, they’ll be paying a lot for the privilege of having that money.

[gary]

player money management? I thought there wasn't any.

[edo783]

Originally Posted by gary

player money management? I thought there wasn't any.

You are correct young sir.

[gary]

Originally Posted by edo783

You are correct young sir.

They would fail a class on how to save money.

[edo783]

Originally Posted by gary

They would fail a class on how to save money.

Ching ching my moho puchi!