OT: DeSean Jackson

[Duck24]

I know this is a rumor but word is that DeSean Jackson is broke and living off of his agents credit card. If true, how pathetic? He's in his 4th year! Anyways, here is a link to the story:

http://profootballtalk.nbcsports.com/20 ... s-actions/

And here is a copy of a bar-tab he rang up this summer. This was the first of two supposed receipts as he was bragging that he dropped a total of 25k+ that night. Should also be pointed out that he was wearing some very nice earrings at his press conference today.

http://thebiglead.com/index.php/2011/06 ... han-yours/

[greenyellow]

Kind of sad but I wouldn't expect anything less from him. This is a big problem for athletes who never grew up with money. They have so much of it now that they don't always plan out their future when they're not raking in millions of dollars. Plus, they always end up investing in some stupid business deals (i.e. record labels) or end up with some shady guy who steals their money.

[karlhungis]

that they don't always plan out their future when they're not raking in millions of dollars..

He is still making millions of dollars. This story doesn't make any sense to me.

[woundedknees]

If my paycheck was anywhere near what DeJax is pulling down, I have no doubt I could figure out how to budget for a rainy day... Of course, my old man was a gypo logger, so I may recognize the approach of that day better than an innwe city kid.

[Duck24]

that they don't always plan out their future when they're not raking in millions of dollars..

He is still making millions of dollars. This story doesn't make any sense to me.

Well his salary is 600k for this year and if he dropped at least 10K on ONE night, it isn't completely out of the realm of possibility. Figure his earrings he had today were another 10K, a car in Philly, a car in LA or wherever he's from, an in-season home and off-season home...it seems possible.

[karlhungis]

that they don't always plan out their future when they're not raking in millions of dollars..

He is still making millions of dollars. This story doesn't make any sense to me.

Well his salary is 600k for this year and if he dropped at least 10K on ONE night, it isn't completely out of the realm of possibility. Figure his earrings he had today were another 10K, a car in Philly, a car in LA or wherever he's from, an in-season home and off-season home...it seems possible.

Oh, I guess I thought he was making a lot more than the league minimum. It is still pretty surprising but easier to understand given his low salary.

[Duck07]

wasn't he having squabbles about his contract either this past off-season or the one prior?

[greenyellow]

wasn't he having squabbles about his contract either this past off-season or the one prior?

He sat out most of their fall camp this year because he wanted to get a new contract done instead of waiting until the off-season. He felt he needed a new contract due to his impact on the team and he was not being paid like a #1 receiver on any other team was.

[ducksvb6]

Does this make sense.

Salary $600,000
15% to agent = $510,000 Net
Less taxes at 45% state + Fed = $280,000 Net
By a car - $ 70,000 = $210,000
By watch, diamonds = $25,000
New net 185,000
Rent house / condo @ $4,000/month = $48,000
New net $137,000
Food, drinks, parties, jet setting, posse = 137,000
New net $0

Amazing, you just can't live on $600k a year any more.

[Duck24]

Does this make sense.

Salary $600,000
15% to agent = $510,000 Net
Less taxes at 45% state + Fed = $280,000 Net
By a car - $ 70,000 = $210,000
By watch, diamonds = $25,000
New net 185,000
Rent house / condo @ $4,000/month = $48,000
New net $137,000
Food, drinks, parties, jet setting, posse = 137,000
New net $0

Amazing, you just can't live on $600k a year any more.

Nobody is saying that it isn't crappy financial management on his part but it isn't as though he blew $100 million a la Antoine Walker. As far as the contract dispute, I believe it was this past offseason where he 'held out'. He is going to be hard pressed to get the money he wants after pulling the 'i slept through my alarm' stunt as well as I believe that he has suffered two (possible three) concussions in his short NFL time. For his sake, hopefully when he signs his next contract, this serves as a wakeup call so that he isn't just another statistic once his football career is over. The statistics surrounding the finances of former athletes are just staggering. Most of us could live the rest of our lives off of what one of these guys make in a year. One sight I will always remember is seeing Mike Vick at the Nike Employee store when he had just signed his $100 million deal with the Falcons. I walked by him in the aisle and he had a few of his posse with him and he pulled out a wad of cash and started distributing it to the guys. He had to hand out $250k in just a matter of seconds. Not to mention the Diamond studded rolex, chain, earrings...he had to have $2 million worth of jewelry on him...it was a sight to see. It's a shame these guys don't realize that if they do things right, after playing for 5-10 years, they will never have to work again, or at the very least, have to work very minimally.

[buckmarkduck]

The problem is that on 600k a year, he's trying to keep up with others who make 5mill or more a year.

[woundedknees]

You can't fix stupid...

[UOducksTK1]

Latrell Sprewell is his dad?

[uodux1212]

5-6 years ago I landed a great job that takes care of me and my family very well. I pretty much went from paycheck to paycheck to having "extra" money at the end of each month. At first I was so happy/relieved to finally be making decent money that if it werent for my wife I would have probably made some real bad financial decisions.

Point being, I went though something similar but on a waaaay lower scale.... I can totally see how a kid who grew up with nothing could blow through a few mil (or several hundred thousand) a year, especially with his first big contract. Family, friends, hangers on all want something... they're put in a tough position.

[USUaggieDuck]

learned in a sports agent class that something like 65% of nba athletes go bankrupt within 5 years of retirement. nfl isn't as high but barely. a lot of these kids have no idea how to manage money. it is gross and it is sad. they see their bank account and assume it keeps growing at that rate for forever.