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Old 05-17-2011   #1
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Default Player Money Management

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

From PFT:
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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.
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Old 05-17-2011   #2
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Default Re: Player Money Management

player money management? I thought there wasn't any.
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Old 05-17-2011   #3
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Default Re: Player Money Management

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Originally Posted by gary View Post
player money management? I thought there wasn't any.
You are correct young sir.
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Old 05-17-2011   #4
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Default Re: Player Money Management

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Originally Posted by edo783 View Post
You are correct young sir.
They would fail a class on how to save money.
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Old 05-18-2011   #5
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They would fail a class on how to save money.
Ching ching my moho puchi!
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