ESPN 30 for 30: Broke

[PedronNiall]

First one I've gotten a chance to sit down and watch. Crazy to see guys spending it like it's water when they come into all that money. Definitely enough side issues to make documentaries of their own, but well put together. Anyone else get a chance to check it out?

[JLTD63]

I recorded it and watched it last night...I liked it, definitely worth watching.

I wouldn't say that I feel bad for the athletes, but they all talked about one subject and how difficult it can be...family and friends coming out of the woodwork for "help." Jet's LB Bart Scott (who seems like a smart guy by the way) said he's supporting five households. Bernie Kosar said there were times when he was paying for 60-80 cell phones monthly.

[knudson81]

I also felt a little bad for these guys. There was financial help available, but no one really taught them how to handle money. Andre Rison didn't even know that taxes were taken out of his check! And I bet that is because he never had to have a job. He was an elite athlete and was just pushed along to get into the NFL.

[JLTD63]

Yeah that was crazy about Rison...said that literally the very first time he even heard of income tax was when it was deducted from his first check. That's amazing. I guess that's probably the case for most, but my first paycheck was at 14. LOL

[One_Putt_Blunder]

Very good program and at the same time it disappoints me that ESPN is capable of producing stuff like this yet they continue to feedTebow and the Jets down our throats non stop.

[PedronNiall]

The saddest story was probably the player who felt like he had to give his dad things the same way he used to get him beers so that he wouldn't hit him, hoping that if he was happy things would be okay. Also his thoughts on at least once he lost his money his family and friends left him alone long enough for thim to figure out who was really there for him.

Just sucks that as mentioned they just were never given any understanding of managing their money responsibly, especially for the NFL players who likely won't see even a third of their contract due to injuries.

[Thrillhouse]

I really liked it. I think we all like to point the finger at these guys when they spend foolishly (which they all seemed to take responsibility for) but I was pretty moved by some of the stories of family and friends taking advantage of them, And also by the stories of unscrupulous financial advisors and people looking to fund bad business projects, these guys are certainly targets for that.

[Petethreeput]

I watched a little of it and was really moved by it. I personally cannot imagine making that kind of money for a few years and then expecting to live off it for the next 40 years... with little to no preparation concerning fiduciary responsibility.

Just because a person is bestowed with millions does not mean they know what it means, or how to handle it. Kosar said he noticed when he wasn't rich anymore no one called him, including his family.

Sad really.

[mac94]

Kosar was a business major.

[itw419]

I thought it was subpar. It was really interesting but I thought poorly put together. I love the 30 for 30. By far the best thing Espn does not counting live sports. I just thought this one didn't come close to being as good as most of the other documentaries they have done. Looking forward to the rest of the series.

[FairwaysToHeaven]

just watched it this morning. really interesting and gives you a new perspective instead of just thinking how these guys are so stupid to make millions and lose it all so quick. of course they waste it away on cars and jewelry, buts its interesting how they compete off the field with spending more than other teammate, how little these guys plan for the future. its more sad than anything. not sure these guys go through their careers knowing who is their friend and who is trying to profit and take advantage of them, especially when its often their own family trying to take advantage of them.


I'm sure the this has become mandatory watch in the locker rooms of teams in sports now. If they watch this and don't have a new outlook on things then no one can help them.

[OrangeCrush]

I didn't see it but I like the 30 for 30 and E:60 series alot (The Marcus Dupree story was one of the most fascinating stories I ever saw...I don't follow college football and I have watched it twice).

Didn't Antoine Walker blow thru like $80M?

[JLTD63]

They showed a few photos of Walker and briefly mentioned him I think...but he wasn't interviewed for the show. I thought once I heard or read that he was playing for the D league team in Boise?

[Carolina Golfer 2]

[quote name='HoosierMizuno' timestamp='1349633744' post='5762105']
just watched it this morning. really interesting and gives you a new perspective instead of just thinking how these guys are so stupid to make millions and lose it all so quick. of course they waste it away on cars and jewelry, buts its interesting how they compete off the field with spending more than other teammate, how little these guys plan for the future. its more sad than anything. not sure these guys go through their careers knowing who is their friend and who is trying to profit and take advantage of them, especially when its often their own family trying to take advantage of them.


[color=#ff0000]I'm sure the this has become mandatory watch in the locker rooms of teams in sports now. If they watch this and don't have a new outlook on things then no one can help them.[/color]
[/quote]
That's one of the things no one has mentioned. Knowing a couple former NFL players, they have told me the League has programs in place to help with handling your finances and adjusting to the lifestyle. it is a required attendance for every rookie and open to any veterans who want to make use of it.

But a lot of them see it as a waste of time, and not important. They are too worried about getting their first Esclade or buying houses for everyone under the sun. The help and resources are there, many just choose to ignore it.

On the subject of 30 for 30 overall...I love them there are some great stories and are done very well.

[EK16]

The biggest thing that stuck out to me was why guys would invest millions of dollars in risky venture funds when they could easily make very solid returns on safer investments. A solid 2.5% annual return on $10M is $250,000/yr. More than anyone needs to live comfortably.

[PedronNiall]

[quote name='Carolina Golfer 2' timestamp='1349883631' post='5775971']
[quote name='HoosierMizuno' timestamp='1349633744' post='5762105']
just watched it this morning. really interesting and gives you a new perspective instead of just thinking how these guys are so stupid to make millions and lose it all so quick. of course they waste it away on cars and jewelry, buts its interesting how they compete off the field with spending more than other teammate, how little these guys plan for the future. its more sad than anything. not sure these guys go through their careers knowing who is their friend and who is trying to profit and take advantage of them, especially when its often their own family trying to take advantage of them.


[color=#ff0000]I'm sure the this has become mandatory watch in the locker rooms of teams in sports now. If they watch this and don't have a new outlook on things then no one can help them.[/color]
[/quote]
That's one of the things no one has mentioned. Knowing a couple former NFL players, they have told me the League has programs in place to help with handling your finances and adjusting to the lifestyle. it is a required attendance for every rookie and open to any veterans who want to make use of it.

But a lot of them see it as a waste of time, and not important. They are too worried about getting their first Esclade or buying houses for everyone under the sun. The help and resources are there, many just choose to ignore it.

On the subject of 30 for 30 overall...I love them there are some great stories and are done very well.
[/quote]
They mentioned that in the film.

[quote name='EK16' timestamp='1349888839' post='5776443']
The biggest thing that stuck out to me was why guys would invest millions of dollars in risky venture funds when they could easily make very solid returns on safer investments. A solid 2.5% annual return on $10M is $250,000/yr. More than anyone needs to live comfortably.
[/quote]
As they said in the movie, players don't find safe investments "sexy." They want to do it their own way and see huge returns, not make 5% a year.

[FairwaysToHeaven]

[quote name='Carolina Golfer 2' timestamp='1349883631' post='5775971']
[quote name='HoosierMizuno' timestamp='1349633744' post='5762105']
just watched it this morning. really interesting and gives you a new perspective instead of just thinking how these guys are so stupid to make millions and lose it all so quick. of course they waste it away on cars and jewelry, buts its interesting how they compete off the field with spending more than other teammate, how little these guys plan for the future. its more sad than anything. not sure these guys go through their careers knowing who is their friend and who is trying to profit and take advantage of them, especially when its often their own family trying to take advantage of them.


[color=#ff0000]I'm sure the this has become mandatory watch in the locker rooms of teams in sports now. If they watch this and don't have a new outlook on things then no one can help them.[/color]
[/quote]
That's one of the things no one has mentioned. Knowing a couple former NFL players, they have told me the League has programs in place to help with handling your finances and adjusting to the lifestyle. it is a required attendance for every rookie and open to any veterans who want to make use of it.

But a lot of them see it as a waste of time, and not important. They are too worried about getting their first Esclade or buying houses for everyone under the sun. The help and resources are there, many just choose to ignore it.

On the subject of 30 for 30 overall...I love them there are some great stories and are done very well.
[/quote]

yep this was mentioned. talked about few of the guys falling asleep during these classes and the overall mentality that this would never happen to them. i think broke might get a few more players attention. it mentioned how the era of over spending is slowing coming to an end where more guys are seriously looking at their future and making efforts to make sure they are set financially for the rest of their lives.

[Bob Cat]

[quote name='PedronNiall' timestamp='1349400262' post='5752601']
The saddest story was probably the player who felt like he had to give his dad things the same way he used to get him beers so that he wouldn't hit him, hoping that if he was happy things would be okay. Also his thoughts on at least once he lost his money his family and friends left him alone long enough for thim to figure out who was really there for him.

Just sucks that as mentioned they just were never given any understanding of managing their money responsibly, especially for the NFL players who likely won't see even a third of their contract due to injuries.
[/quote]

That was Bernie Kosar. I got the impression he was happier now than when he had millions playing the game.

I don't feel apathy for a bunch of pimped up selfish punks who can't take a moment to figure simple math on a cochtail napkin. Pathetic.

[JPayne0415]

Pretty sad stuff if you ask me.

[PZero]

[quote name='Bob Cat' timestamp='1349986516' post='5782271']
[quote name='PedronNiall' timestamp='1349400262' post='5752601']
The saddest story was probably the player who felt like he had to give his dad things the same way he used to get him beers so that he wouldn't hit him, hoping that if he was happy things would be okay. Also his thoughts on at least once he lost his money his family and friends left him alone long enough for thim to figure out who was really there for him.

Just sucks that as mentioned they just were never given any understanding of managing their money responsibly, especially for the NFL players who likely won't see even a third of their contract due to injuries.
[/quote]

That was Bernie Kosar. I got the impression he was happier now than when he had millions playing the game.
[/quote]

Kosar drowns himself in alcohol these days. That doesn't seem like something a happy man does.

[Bob Cat]

[quote name='PZero' timestamp='1350425379' post='5803487']
[quote name='Bob Cat' timestamp='1349986516' post='5782271']
[quote name='PedronNiall' timestamp='1349400262' post='5752601']
The saddest story was probably the player who felt like he had to give his dad things the same way he used to get him beers so that he wouldn't hit him, hoping that if he was happy things would be okay. Also his thoughts on at least once he lost his money his family and friends left him alone long enough for thim to figure out who was really there for him.

Just sucks that as mentioned they just were never given any understanding of managing their money responsibly, especially for the NFL players who likely won't see even a third of their contract due to injuries.
[/quote]

That was Bernie Kosar. I got the impression he was happier now than when he had millions playing the game.
[/quote]

Kosar drowns himself in alcohol these days. That's doesn't seem like something a happy man does.
[/quote]

Agree, if true.

[highdraw69]

weren't there guys on there talking about buying furs and "making it rain" in strip clubs? i have little to no empathy for professional athletes who go broke...many are simply returning to the proper mean, as they wouldn't qualify for a fry cook job at mickey dee's in real life

[Thrillhouse]

Know what's weird about making it rain at a strip club? When these pro athletes do it it's nothing but praise and awe, but when I take the penny jar I keep on the counter down there and dump it on a stripper I wound up getting pummeled in the back alley by a couple of bouncers.

What gives?

[Chief Illiniwek]

Any stripper worth her silicon should've known those pennies are worth a good 105% their face value in raw metals!

[JLTD63]

[quote name='highdraw69' timestamp='1350509637' post='5808407']
weren't there guys on there talking about buying furs and "making it rain" in strip clubs? i have little to no empathy for professional athletes who go broke...many are simply returning to the proper mean, as they wouldn't qualify for a fry cook job at mickey dee's in real life
[/quote]

A couple of the guys did talk about stuff like that, but they were more or less taking the stance of "I was such an idiot...this is what I did..."

The one guy (can't remember who), NFL guy, got a $60,000 severance package (from a mult-million dollar contract) after he was injured badly enough to end his career. He talked about how that VERY day he took the cash and paid $54,000 for a truck. He knew how ridiculous it was looking back, you could hear the disgust and regret in his voice! Guess he couldn't resist.

[Thrillhouse]

[quote name='JLTD63' timestamp='1351024434' post='5835241']
[quote name='highdraw69' timestamp='1350509637' post='5808407']
weren't there guys on there talking about buying furs and "making it rain" in strip clubs? i have little to no empathy for professional athletes who go broke...many are simply returning to the proper mean, as they wouldn't qualify for a fry cook job at mickey dee's in real life
[/quote]

A couple of the guys did talk about stuff like that, but they were more or less taking the stance of "I was such an idiot...this is what I did..."

The one guy (can't remember who), NFL guy, got a $60,000 severance package (from a mult-million dollar contract) after he was injured badly enough to end his career. He talked about how that VERY day he took the cash and paid $54,000 for a truck. He knew how ridiculous it was looking back, you could hear the disgust and regret in his voice! Guess he couldn't resist.
[/quote]

Leon searcy, there's a good article online about him going broke if you google him.

[Bob Cat]

[quote name='Thrillhouse' timestamp='1351025390' post='5835309']
[quote name='JLTD63' timestamp='1351024434' post='5835241']
[quote name='highdraw69' timestamp='1350509637' post='5808407']
weren't there guys on there talking about buying furs and "making it rain" in strip clubs? i have little to no empathy for professional athletes who go broke...many are simply returning to the proper mean, as they wouldn't qualify for a fry cook job at mickey dee's in real life
[/quote]

A couple of the guys did talk about stuff like that, but they were more or less taking the stance of "I was such an idiot...this is what I did..."

The one guy (can't remember who), NFL guy, got a $60,000 severance package (from a mult-million dollar contract) after he was injured badly enough to end his career. He talked about how that VERY day he took the cash and paid $54,000 for a truck. He knew how ridiculous it was looking back, you could hear the disgust and regret in his voice! Guess he couldn't resist.
[/quote]

Leon searcy, there's a good article online about him going broke if you google him.
[/quote]

I believe it was a new Hummer... fwiw

[Thrillhouse]

[quote name='Bob Cat' timestamp='1351028591' post='5835599']
[quote name='Thrillhouse' timestamp='1351025390' post='5835309']
[quote name='JLTD63' timestamp='1351024434' post='5835241']
[quote name='highdraw69' timestamp='1350509637' post='5808407']
weren't there guys on there talking about buying furs and "making it rain" in strip clubs? i have little to no empathy for professional athletes who go broke...many are simply returning to the proper mean, as they wouldn't qualify for a fry cook job at mickey dee's in real life
[/quote]

A couple of the guys did talk about stuff like that, but they were more or less taking the stance of "I was such an idiot...this is what I did..."

The one guy (can't remember who), NFL guy, got a $60,000 severance package (from a mult-million dollar contract) after he was injured badly enough to end his career. He talked about how that VERY day he took the cash and paid $54,000 for a truck. He knew how ridiculous it was looking back, you could hear the disgust and regret in his voice! Guess he couldn't resist.
[/quote]

Leon searcy, there's a good article online about him going broke if you google him.
[/quote]

I believe it was a new Hummer... fwiw
[/quote]

It wasn't just A new hummer, it was THE new hummer, H2 fresh out the box!

But yeah, brutal financial decision.

[sackgolf]

[quote name='PedronNiall' timestamp='1349326044' post='5748151']
First one I've gotten a chance to sit down and watch. Crazy to see guys spending it like it's water when they come into all that money. Definitely enough side issues to make documentaries of their own, but well put together. Anyone else get a chance to check it out?
[/quote]

Yeah, I saw it. VERY interesting! Amazing how they spend their money, however, I did buy the same shirt, FRED SANFORD "how bout 5 cross your lip" that 1 guy was wearing.lol.

[prsgtrman]

ahh for me its a little hard to feel bad for these guys. how many of them went to college. it doesnt take a degree to know youre gonna run out of money if you spend like some of these guys did.