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| AP is broke https://mail.chicagofanatics.com/viewtopic.php?f=90&t=118255 |
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| Author: | badrogue17 [ Tue Jul 23, 2019 6:21 pm ] |
| Post subject: | AP is broke |
No word yet on of Elizabeth Warren wants his creditors to forgive the debt Since he was drafted by the Minnesota Vikings in 2007, Adrian Peterson has earned over $100 million during his time in the NFL. Back in 2011, he signed an extension with the Vikings that ended up rewarding him with almost $50 million. No running back in league history has earned more money than the amount that has found its way into Peterson’s bank account. Despite his massive career earnings as an NFL player, the veteran running back is, “nearly broke,” according to a recent report by ProFootballTalk’s Michael David Smith on According to the report, Peterson is being sued for failing to pay back a loan amounting to $5.2 million. A judge has already ordered the former Minnesota running back to pay back $3 million that he owes to multiple creditors. After info about Peterson’s financial problems were made public, his lawyer released a statement on Tuesday that attempted to explain how the running back found himself in his current situation. “The truth behind Adrian Peterson’s current financial situation is more than is being reported at this time. Because of ongoing legal matters, I am unable to go into detail, but I will say this is yet another situation of an athlete trusting the wrong people and being taken advantage of by those he trusted. Adrian and his family look forward to sharing further details when appropriate.” Unfortunately, something like what Peterson is currently going through is not that uncommon. There have been numerous cases over the years of professional athletes losing money from bad investments or to people who they believed had their best interest in mind. No one exactly knows where all of Peterson’s money has vanished to. But it certainly doesn’t sound like he has any left from the amount he earned during his time with the Vikings. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 6:27 pm ] |
| Post subject: | Re: AP is broke |
Good thing he still has all that Cardinals, Redskins and Saints money. |
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| Author: | Curious Hair [ Tue Jul 23, 2019 6:31 pm ] |
| Post subject: | Re: AP is broke |
How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 6:39 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. Let's let private equity firms manage that escrow account. That way players can make their money work for them! |
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| Author: | Curious Hair [ Tue Jul 23, 2019 6:41 pm ] |
| Post subject: | Re: AP is broke |
I was hoping the union could take care of it themselves. But between a private equity firm and a dude you went to high school with who wants to come up with the nineteenth brand of mildly flavored water, I think they'd lose all the money in equal time. |
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| Author: | FavreFan [ Tue Jul 23, 2019 6:42 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. NFLPA would never go for it nor should they. |
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| Author: | Curious Hair [ Tue Jul 23, 2019 6:44 pm ] |
| Post subject: | Re: AP is broke |
FavreFan wrote: Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. NFLPA would never go for it nor should they. Well, I know it's paternalistic, but somebody has to step in and tell these guys not to start "sports marketing firms." |
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| Author: | pittmike [ Tue Jul 23, 2019 6:44 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: I was hoping the union could take care of it themselves. But between a private equity firm and a dude you went to high school with who wants to come up with the nineteenth brand of mildly flavored water, I think they'd lose all the money in equal time. 
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| Author: | pittmike [ Tue Jul 23, 2019 6:45 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires.
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| Author: | pittmike [ Tue Jul 23, 2019 6:48 pm ] |
| Post subject: | Re: AP is broke |
Treat athletes like grown ass men that open mail and drink coffee. Then also treat them as if they are all too stupid to not lose $50M. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 6:50 pm ] |
| Post subject: | Re: AP is broke |
If gamer girls can sell their used bathwater, then pro athletes should sell their jizzum. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 6:53 pm ] |
| Post subject: | Re: AP is broke |
pittmike wrote: Treat athletes like grown ass men that open mail and drink coffee. Then also treat them as if they are all too stupid to not lose $50M. If I'm remembering Hard Knocks correctly, I think some teams offer some kind of financial responsibility classes to players. |
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| Author: | Frank Coztansa [ Tue Jul 23, 2019 6:55 pm ] |
| Post subject: | Re: AP is broke |
FavreFan wrote: Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. NFLPA would never go for it nor should they. They should take a lesson from Glover Quinn. |
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| Author: | FavreFan [ Tue Jul 23, 2019 6:58 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: FavreFan wrote: Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. NFLPA would never go for it nor should they. Well, I know it's paternalistic, but somebody has to step in and tell these guys not to start "sports marketing firms." Ideally they would. Like Iverson had people looking out for him. But you honestly think that’s not a bridge too far when it comes to infantilizing players? |
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| Author: | FavreFan [ Tue Jul 23, 2019 6:59 pm ] |
| Post subject: | Re: AP is broke |
SpiralStairs wrote: pittmike wrote: Treat athletes like grown ass men that open mail and drink coffee. Then also treat them as if they are all too stupid to not lose $50M. If I'm remembering Hard Knocks correctly, I think some teams offer some kind of financial responsibility classes to players. They do. Every team has a player rep for it. |
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| Author: | Curious Hair [ Tue Jul 23, 2019 7:02 pm ] |
| Post subject: | Re: AP is broke |
FavreFan wrote: Curious Hair wrote: FavreFan wrote: Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. NFLPA would never go for it nor should they. Well, I know it's paternalistic, but somebody has to step in and tell these guys not to start "sports marketing firms." Ideally they would. Like Iverson had people looking out for him. But you honestly think that’s not a bridge too far when it comes to infantilizing players? I don't feel great about it, no, but the union coming up with some sort of trust fund for its players might be more helpful than having a seminar about why you shouldn't open a restaurant called "Pass: An American Eatery." |
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| Author: | Curious Hair [ Tue Jul 23, 2019 7:06 pm ] |
| Post subject: | Re: AP is broke |
And just to be fair, every one of us would absolutely squander NFL money if given the chance. Except for denisdman. "Even Ogie Oglethorpe?" Especially Ogie Oglethorpe! He'd use the money to fund a militia and bomb a stop light. |
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| Author: | FavreFan [ Tue Jul 23, 2019 7:20 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: And just to be fair, every one of us would absolutely squander NFL money if given the chance. Except for denisdman. "Even Ogie Oglethorpe?" Especially Ogie Oglethorpe! He'd use the money to fund a militia and bomb a stop light. I feel like I’d squander it to a degree but not end up broke but thats not true either. I’d be Ricky Williams but as like, a 5th WR or something and end up working construction before age 30. |
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| Author: | denisdman [ Tue Jul 23, 2019 7:22 pm ] |
| Post subject: | Re: AP is broke |
Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. They would simply borrow against the escrow funds. |
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| Author: | SomeGuy [ Tue Jul 23, 2019 7:30 pm ] |
| Post subject: | Re: AP is broke |
I wouldn't squander it. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 7:35 pm ] |
| Post subject: | Re: AP is broke |
SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick for it, right? |
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| Author: | SomeGuy [ Tue Jul 23, 2019 7:36 pm ] |
| Post subject: | Re: AP is broke |
SpiralStairs wrote: SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick, right? Try re-writing that. I get what you're saying, and I agree, but the sentence is off. |
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| Author: | denisdman [ Tue Jul 23, 2019 7:37 pm ] |
| Post subject: | Re: AP is broke |
SpiralStairs wrote: SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick, right? 
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| Author: | SpiralStairs [ Tue Jul 23, 2019 7:38 pm ] |
| Post subject: | Re: AP is broke |
SomeGuy wrote: SpiralStairs wrote: SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick for it, right? Try re-writing that. I get what you're saying, and I agree, but the sentence is off. |
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| Author: | SomeGuy [ Tue Jul 23, 2019 7:40 pm ] |
| Post subject: | Re: AP is broke |
SpiralStairs wrote: SomeGuy wrote: SpiralStairs wrote: SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick for it, right? Try re-writing that. I get what you're saying, and I agree, but the sentence is off. Thanks! But the best get it right the first time. |
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| Author: | SpiralStairs [ Tue Jul 23, 2019 7:43 pm ] |
| Post subject: | Re: AP is broke |
SomeGuy wrote: SpiralStairs wrote: SomeGuy wrote: SpiralStairs wrote: SomeGuy wrote: I wouldn't squander it. You know that you can use money to buy coke instead of sucking dick for it, right? Try re-writing that. I get what you're saying, and I agree, but the sentence is off. Thanks! But the best get it right the first time. Be careful out there! |
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| Author: | conns7901 [ Tue Jul 23, 2019 7:47 pm ] |
| Post subject: | Re: AP is broke |
pittmike wrote: Curious Hair wrote: How about banning signing bonuses and putting 25% of every contract in escrow to be released after a player retires. Yeah, that would just delay the bankruptcy filings by a few years. |
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| Author: | WaitingforRuffcorn [ Tue Jul 23, 2019 8:55 pm ] |
| Post subject: | Re: AP is broke |
Sad to see, but he's famous enough to sign autographs and shake hands to make a decent enough living. He has several children, and is likely spending a ton in child support every month. It seems like pro athletes resemble lottery winners in there financial outcomes. |
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| Author: | Nas [ Tue Jul 23, 2019 9:03 pm ] |
| Post subject: | Re: AP is broke |
Give a bunch of poor kids a lot of money and most will find a way to blow it. |
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| Author: | Regular Reader [ Tue Jul 23, 2019 9:08 pm ] |
| Post subject: | Re: AP is broke |
Nas wrote: Give a bunch of poor kids a lot of money and most will find a way to blow it. If it wouldn't ultimately screw their business model, schools should have civics and financial planning classes made mandatory for athletes. In lieu of generally worthless prerequisites like calculus or linear algebra. |
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