capcrunch98 Posted May 19, 2011 Share Posted May 19, 2011 I read the Hogs Haven article which noted that Carlos Rogers is in debt and living with Jason Campbell, and on the Junkies this morning the number he casually threw out there for signing bonus (based on what he views as contracts recently received by comparable CBs) is $20 million. I know lots of former NFL players are struggling financially, and of course you always hear about lottery winners who go broke within a few years of hitting the jackpot. But I haven't heard too much about current players, who are still drawing million dollar salaries, being in debt. How could these guys piss away all that money in such a shirt period of time? Is it extravagant purchases? Trophy girlfriends and hanger-on pals? Do they get involved in business transactions they don't understand? Maybe a combination of it all? Sorry for the vague and maybe naive question, but I just don't get it. Link to comment Share on other sites More sharing options...
SirClintonPortis Posted May 19, 2011 Share Posted May 19, 2011 It just an extreme manifestation of an American cultural value: DON'T HOLD YOUR MONEY. SPEND IT NOW NOW NOW. NOWWWWWWWW! Link to comment Share on other sites More sharing options...
Enter Apotheosis Posted May 19, 2011 Share Posted May 19, 2011 I know lots of former NFL players are struggling financially, and of course you always hear about lottery winners who go broke within a few years of hitting the jackpot. But I haven't heard too much about current players, who are still drawing million dollar salaries, being in debt. How could these guys piss away all that money in such a shirt period of time? Is it extravagant purchases? Trophy girlfriends and hanger-on pals? Do they get involved in business transactions they don't understand? Maybe a combination of it all?Sorry for the vague and maybe naive question, but I just don't get it. All of the above can be factors. Mark Brunell made some bad investments, Antonio Cromartie will inevitably be left with nothing due to child support, and Carlos Rogers seems to just assume that he'll have a high positive cash flow forever and is free to buy expensive toys and drop absurd amounts of money on his nights out on the town as he pleases. Link to comment Share on other sites More sharing options...
RSimports Posted May 19, 2011 Share Posted May 19, 2011 While I agree that it is hard to comprehend why or how one could be in debt so quickly after making millions of dollars. I think a large part of it is some of the athletes growing up dirt poor then having millions of dollars thrown at them. Imagine growing up living in section 8 housing than having someone come along and throwing 1 or 2 million (on the low end) at you as a signing bonus. My guess is that you wouldn't know how to save/spend it wisely. Now granted not ever NFL player is like this but I think a larger majority then we think are. I could be completely wrong though as well. Link to comment Share on other sites More sharing options...
Brandon Lloyd Christmas Posted May 19, 2011 Share Posted May 19, 2011 carlos is most likely a stupid individual who has no concept of money or how to use it. call me a dick, but thats most likely the way it is. Link to comment Share on other sites More sharing options...
More Complete Posted May 19, 2011 Share Posted May 19, 2011 One word: Lifestyle. Link to comment Share on other sites More sharing options...
capcrunch98 Posted May 19, 2011 Author Share Posted May 19, 2011 While I agree that it is hard to comprehend why or how one could be in debt so quickly after making millions of dollars. I think a large part of it is some of the athletes growing up dirt poor then having millions of dollars thrown at them. Imagine growing up living in section 8 housing than having someone come along and throwing 1 or 2 million (on the low end) at you as a signing bonus. My guess is that you wouldn't know how to save/spend it wisely. That's a good point, but most of these guys go to college, and I believe the NFL has mandatory financial management seminars during the rookie symposiums. You would think this would be enough to at least instill some sense of maturity and fiscal responsibility in these guys. To think that someone who makes as much money as Carlos Rogers couldn't tuck away a few hundred thousand dollars (which represents a tiny fraction of the money he has pulled in over the past 5 years) for a rainy day is unbelievable. I guess he's just not very smart. Link to comment Share on other sites More sharing options...
paloosa Posted May 19, 2011 Share Posted May 19, 2011 Carlos Rogers isn't very bright I guess. How do you lose all your money and think that you should get paid a big contract with stone hands? I guess he will be still in debt after he gets another contract because he won't be getting a huge contract he thinks he will. Link to comment Share on other sites More sharing options...
S.T.real,lights,out Posted May 19, 2011 Share Posted May 19, 2011 carlos is most likely a stupid individual who has no concept of money or how to use it.call me a dick, but thats most likely the way it is. Sums it up for me!! And i should say i dont feel sorry for him at all. It's pathetic! Link to comment Share on other sites More sharing options...
SB17 Posted May 19, 2011 Share Posted May 19, 2011 I guess it's more than just footballs that are slipping through his hands ... Link to comment Share on other sites More sharing options...
capcrunch98 Posted May 19, 2011 Author Share Posted May 19, 2011 carlos is most likely a stupid individual who has no concept of money or how to use it.call me a dick, but thats most likely the way it is. You're probably right. Unless he got swindled in a Bernie Madoff-type scheme, he likely has nobody to blame but himself. The Hogs Haven article says it is "well-known" that he has money problems. That to me says he is probably constantly spotted around town (at expensive clubs, strip joints, etc.) throwing around a lot of money. Link to comment Share on other sites More sharing options...
Taylor 36 Posted May 19, 2011 Share Posted May 19, 2011 carlos is most likely a stupid individual who has no concept of money or how to use it.call me a dick, but thats most likely the way it is. Sums it up for me!!And i should say i dont feel sorry for him at all. It's pathetic! Yep. You both took the words right out of my mouth (or typing fingers in this case). Although, BLC, I would not have used the words "most likely" in your statement. Link to comment Share on other sites More sharing options...
Warhead36 Posted May 19, 2011 Share Posted May 19, 2011 Many NFL players never learned basic life skills. They played football growing up, played in college, then played in the pros. They simply never learn how to manage their money. Some do, but many don't. Link to comment Share on other sites More sharing options...
authentic Posted May 19, 2011 Share Posted May 19, 2011 I know Lavarleap is dying to chime in.... Link to comment Share on other sites More sharing options...
andy614 Posted May 19, 2011 Share Posted May 19, 2011 He dropped the money on the way to the bank. Typical of the way he plays CB Link to comment Share on other sites More sharing options...
Darth Tater Posted May 19, 2011 Share Posted May 19, 2011 Basically consumer credit is the monetization of expected future earnings to use for high order consumption (buying final goods and services) as opposed to using it to lower order consumption (real investment in resources intended to create future positive cash flows). If the flow of expected future earnings is disrupted, since with consumer credit you are burning future assets, you will not be able to continue the high order consumption and very likely not be able to manage low order consumption. However, the higher the expected future earnings, the more your going to be able to burn. Link to comment Share on other sites More sharing options...
authentic Posted May 19, 2011 Share Posted May 19, 2011 Basically consumer credit is the monetization of expected future earnings to use for high order consumption (buying final goods and services) as opposed to using it to lower order consumption (real investment in resources intended to create future positive cash flows). If the flow of expected future earnings is disrupted, since with consumer credit you are burning future assets, you will not be able to continue the high order consumption and very likely not be able to manage low order consumption. However, the higher the expected future earnings, the more your going to be able to burn. What in the bumlaclot did you just say? Link to comment Share on other sites More sharing options...
Unforgiven Posted May 19, 2011 Share Posted May 19, 2011 I lean toward the players a bit in the lockout dispute and say they should try to get what they can, but stories like these just kill me. If you waste money like that you almost need to be treated like a child and have the money put away and they give you an allowance to live off of. He better not be ****ing when he gets older about how he cant pay his medical bills and needs help. Link to comment Share on other sites More sharing options...
RandyHolt Posted May 19, 2011 Share Posted May 19, 2011 I bet athletes were told like the masses were, that there is never a bad time to invest in real estate. Link to comment Share on other sites More sharing options...
Dan T. Posted May 19, 2011 Share Posted May 19, 2011 Carlos Rogers doesn't exactly come across as a Mensa candidate, so it's not altogether surprising that he would be hurting financially. But Christ, what are player agents for if not to keep their clients out of situations like this? Link to comment Share on other sites More sharing options...
addicted Posted May 19, 2011 Share Posted May 19, 2011 Cocaine is one hell of a drug Link to comment Share on other sites More sharing options...
Inigo Montoya Posted May 19, 2011 Share Posted May 19, 2011 Cocaine is one hell of a drug **** yo couch, I'm Rick James! Link to comment Share on other sites More sharing options...
JPCreativelab Posted May 19, 2011 Share Posted May 19, 2011 i have a friend who is 37, all his paychecks get direct deposited into his dads account, his dad pays all his bills that are due, then deposits the left over into his son's account. this is how i picture Carlos... Link to comment Share on other sites More sharing options...
illone Posted May 19, 2011 Share Posted May 19, 2011 When I was 21 I was making over 200K per year. Peanuts compared to a pro athlete, but a good amount of money nonetheless. That said, I have nothing to show for it now. Nothing at all, well except for a couple nice suits and some $500 shoes:ols:. Making that much money before learning how to manage it is a recipe for disaster. Link to comment Share on other sites More sharing options...
HOF44 Posted May 19, 2011 Share Posted May 19, 2011 Number one on the list would be to get Bobby Bonilla's agent. If he doesn't do football get him to recommend someone. That dude is awesome. Link to comment Share on other sites More sharing options...
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