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Old 09-29-2012   #1
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Default Broke -- an ESPN 30-for-30 film airing Tuesday, October 2 @8:00pm ET

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

Quote:
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

Last edited by Playoffs; 09-30-2012 at 12:49 PM. Reason: fixed day
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Old 09-29-2012   #2
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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'.....
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Old 09-29-2012   #3
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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...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.
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Old 09-29-2012   #4
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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Originally Posted by Playoffs View Post
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


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!
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Old 09-29-2012   #5
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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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
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Old 09-29-2012   #6
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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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.
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Old 09-30-2012   #7
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

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Originally Posted by GP View Post
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
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Old 09-30-2012   #8
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Default Re: Broke -- an ESPN 30-for-30 film airing Thursday, October 2 @8:00pm ET

Is the airing Tuesday the 2nd or Thursday the 4th?
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Old 09-30-2012   #9
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Default Re: Broke -- an ESPN 30-for-30 film airing Tuesday, October 2 @8:00pm ET

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Is the airing Tuesday the 2nd or Thursday the 4th?
Doh! Tuesday, fixed it.
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