PDA

View Full Version : Delonte West to Home Depot? How long can low tier players hold out?



beasted86
08-17-2011, 09:33 PM
Although he's made over $14 million in the NBA, Delonte West tweeted recently that he is "broke" and has applied for a job at Home Depot.

"It's official.. Pride 2 the side.. just filled out a application at Home Depot.. Lockout aint a game," the Celtics guard tweeted.

West is on probation for a weapons charge and also tweeted that he wasn't allowed to pursue basketball opportunities overseas.

"Can't even get that over seas money," he tweeted. "Judge said it's a no go on leaving the country."

West has battled bipolar disorder during his career and also posted this to Twitter: "Broke down in the ATM line.. 25 cars behind me and I already reached my daily limit... I'm broke n my cars broke.. Where's my therapist???"

Appearing in only 24 games this past season, the 27-year-old West averaged 5.6 points in his second stint with the Celtics.

http://espn.go.com/boston/nba/story/_/id/6871375/boston-celtics-delonte-west-says-applied-home-depot

Not every player is stupid enough to spend all their money knowing this lockout has been looming for over a year... but this article makes you think.. How long can some of the lower tier players hold out if they weren't smart with their finances.

LakersMaster24
08-17-2011, 09:41 PM
You mean how can some of the low tier STUPID players hold out? Because I know for I fact that even if I got ONE 1.4mil contract in my life, I would be able to survive a year without getting payed.

Crackadalic
08-17-2011, 09:44 PM
Can't the nba set up some thing for players on how to spend money? I mean damn. There isnt anything wrong with buying the finer things in life but save and invest in that

DwayneMVPwade
08-17-2011, 09:48 PM
Should of spent some of his money on a financial adviser

PC
08-17-2011, 09:56 PM
Well Delonte West's situation is a little different, he can't leave the country which is why he can't make money playing basketball. If you're good enough to make an NBA roster, you're good enough to get offers overseas.

unwantedplayer
08-17-2011, 10:05 PM
You mean how can some of the low tier STUPID players hold out? Because I know for I fact that even if I got ONE 1.4mil contract in my life, I would be able to survive a year without getting payed.

Easier said than done.

Geargo Wallace
08-17-2011, 10:16 PM
Easier said than done.

I know eh! With that swag I'm suprised that he could last a week on 1.4 mil.

I knew Gloria James was a hoochy momma but damn... I ain't saying she was a golddigger. But Delonte is now a broke _______.

Raps08-09 Champ
08-17-2011, 10:30 PM
Easier said than done.

Not really. NBA players are just idiots buying like 7 cars and 2 homes when they don't even spend that much time driving it around or living there.

Only dumbasses spend + $1 mil total on cars that they probably each drive 3-5 times a month.

NBA_Starter
08-17-2011, 10:33 PM
Home Depot :laugh2:

llemon
08-17-2011, 10:34 PM
Can't the nba set up some thing for players on how to spend money? I mean damn. There isnt anything wrong with buying the finer things in life but save and invest in that

I believe NBA (or NBPLA) has had a system like that in place for a few years.

I was on strike for 7 months and 5 months.

You see it coming, you prepare, you cut expenses to the bone and you wait.

Except for the total idiots, of course.

joepfarley
08-17-2011, 10:37 PM
He should audition for the Harlem Globetrotters

GoatMilk
08-17-2011, 10:59 PM
he cant really be broke, can he?
i thought this was just to get a laugh. and it may be

gwrighter
08-17-2011, 11:09 PM
A lot of people say "OMG if i had a 5 mil contract id be set for life!" sometimes its not that easy for these guys. Most NBA players come from poor backgrounds n therefore use a portion of the after tax money on uplifting their family from poverty. Unlike us spoiled mofo's.

llemon
08-17-2011, 11:39 PM
A lot of people say "OMG if i had a 5 mil contract id be set for life!" sometimes its not that easy for these guys. Most NBA players come from poor backgrounds n therefore use a portion of the after tax money on uplifting their family from poverty. Unlike us spoiled mofo's.

'Unlike us spoiled mofos'? Speak for yourself.

Delonte was instructed/warned that this lockout/strike was coming a few years back.

He should now be staying with some of his family members that he uplifted.

And there is nothing wrong with earning a steady paycheck from Home Depot.

Lim
08-17-2011, 11:40 PM
A lot of people say "OMG if i had a 5 mil contract id be set for life!" sometimes its not that easy for these guys. Most NBA players come from poor backgrounds n therefore use a portion of the after tax money on uplifting their family from poverty. Unlike us spoiled mofo's.

there's no excuse to burn through 14 million that fast. guy is a moron

15carlos21
08-17-2011, 11:40 PM
why would he tweet all those things....have some pride man. Everyone feel bad for Delonte West, like he is the only person out there struggling

llemon
08-17-2011, 11:46 PM
why would he tweet all those things....have some pride man. Everyone feel bad for Delonte West, like he is the only person out there struggling

Of all the players out there, Delonte (because of his criminal record) should have been the most cautious with his money of all the NBA players.

But we all know that Delonte has psychological issues.

And incredibly highly paid NBA players have gone broke for many reasons other than an NBA lockout.

sep11ie
08-17-2011, 11:49 PM
Damn, I didn't know Valtrex was that expensive.

daleja424
08-17-2011, 11:53 PM
There is no cure for idiocy... anyone with half a brain has been saving up for over a year.

I mean even if we werent in a lockout, Delonte wouldnt be getting paid right now... its only friggin August... NBA checks dont start going out until October at the earliest...

DieHardCubFan
08-18-2011, 12:01 AM
gotta be smart with your money

llemon
08-18-2011, 12:01 AM
There is no cure for idiocy... anyone with half a brain has been saving up for over a year.

I mean even if we werent in a lockout, Delonte wouldnt be getting paid right now... its only friggin August... NBA checks dont start going out until October at the earliest...

Some players opted to have their checks spread out over a full calendar year, rather than just collect them during the playing season.

gwrighter
08-18-2011, 12:06 AM
'Unlike us spoiled mofos'? Speak for yourself.

Delonte was instructed/warned that this lockout/strike was coming a few years back.

He should now be staying with some of his family members that he uplifted.

And there is nothing wrong with earning a steady paycheck from Home Depot.

don't take it out of context. it was a general statement aimed at those who were comparing their lives to his n criticizing him for spending his money.

n no there is nothing wrong with working at home depot obviously. But for a person of his stature, it is unusual to see a mogul go from Professional league to entry level.


there's no excuse to burn through 14 million that fast. guy is a moron

taxes take approx 50%. n yeah he should've at least saved enough for a year lockout.

daleja424
08-18-2011, 12:14 AM
Some players opted to have their checks spread out over a full calendar year, rather than just collect them during the playing season.

and those players still got or will get their entire salary from last year...

llemon
08-18-2011, 12:32 AM
don't take it out of context. it was a general statement aimed at those who were comparing their lives to his n criticizing him for spending his money.

n no there is nothing wrong with working at home depot obviously. But for a person of his stature, it is unusual to see a mogul go from Professional league to entry level.



taxes take approx 50%. n yeah he should've at least saved enough for a year lockout.

Not sure what point you are trying to make.

And I don't believe I took anything out of context.

West had been warned for years that a lockout was going to happen, and he would no longer be collecting a paycheck by a certain date.

However, right now, Delonte would not be collecting a paycheck, lockout or not.

And of course your general poster who is either making under $42K, or is unemployed, is going to criticize Delonte's (the millionaire) spending habits when he knew what was on the horizon.

And if you think he is paying 50% taxes on his salary, you are certainly a Canadian that hasn't looked at the USA's tax code in more than 13 years.

Please, Canadian Economics Student, don't let a Harlemite who graduated High School only because his father (an ex-con) was friends with a higher-up in the NYC Education system make you look foolish again.

And REALLY, beware of how you respond.

lakerboy
08-18-2011, 12:35 AM
You get paid millions of dollars and still live month to month. Only in the NBA.

llemon
08-18-2011, 12:39 AM
You get paid millions of dollars and still live month to month. Only in the NBA.

Actually, not only in the NBA

jbeezy
08-18-2011, 12:40 AM
If I got 1.4 million I would be set for life. I would open up some business and invest a bit and I think I would still have enough for a house and car. I wont be exclusive but I would atleast be alright.

llemon
08-18-2011, 12:42 AM
If I got 1.4 million I would be set for life. I would open up some business and invest a bit and I think I would still have enough for a house and car. I wont be exclusive but I would atleast be alright.

And if your business and investments went sour?

PacersForLife
08-18-2011, 12:46 AM
We don't know everything Delonte, and players like Delonte have been through growing up. Plus he does have a disorder, but that still isn't an excuse for him to spend all of his money, assuming it was on things such as cars, houses, jewelry, etc. At least this lockout will be a lesson for the players like Delonte to learn to save money in case anything like this happens again.

Bruno
08-18-2011, 12:49 AM
NBA players are notoriously bad at saving and properly investing their money. What sucks for West is that he can't go anywhere else to make money.

jbeezy
08-18-2011, 12:50 AM
And if your business and investments went sour?

You have to have a sound business strategy or else you are ****ed. My family owned a restaurant for over 17 years so I think I pretty much know what I would be doing :p

NetsPaint
08-18-2011, 12:50 AM
$1.4 million would be enough for me. I'd be happy with a condo (yeah, I don't need a giant house), a car or two, and banging hot chicks every day.

I wonder what Delonte's job would at Home Depot, and what he applied for. Supervisor? Manager? Cashier?

llemon
08-18-2011, 12:53 AM
We don't know everything Delonte, and players like Delonte have been through growing up. Plus he does have a disorder, but that still isn't an excuse for him to spend all of his money, assuming it was on things such as cars, houses, jewelry, etc. At least this lockout will be a lesson for the players like Delonte to learn to save money in case anything like this happens again.

We don't know everything about anybody, including our loved ones, and oft times not even about ourselves.

gwrighter
08-18-2011, 02:09 AM
Not sure what point you are trying to make.

lol dude i dont even know what argument you are referring to. be more specific.


And I don't believe I took anything out of context.

taking a general statement literally. spoiled as in we have the luxury of spending time talking about bs like this online rather than spending time trying to survive in the concrete jungle or impovrished rural communities.


West had been warned for years that a lockout was going to happen, and he would no longer be collecting a paycheck by a certain date.

However, right now, Delonte would not be collecting a paycheck, lockout or not.

yeah...


And of course your general poster who is either making under $42K, or is unemployed, is going to criticize Delonte's (the millionaire) spending habits when he knew what was on the horizon.

everybody on this site is a damn critic son. all we do is criticize, negative & positive...don't know what your trying to get at here?


And if you think he is paying 50% taxes on his salary, you are certainly a Canadian that hasn't looked at the USA's tax code in more than 13 years.

so i overestimated, approx. 35-40%. still quite a distance away from the aforementioned 14mil salary.


Please, Canadian Economics Student, don't let a Harlemite who graduated High School only because his father (an ex-con) was friends with a higher-up in the NYC Education system make you look foolish again.

:violin:
spare me the personal jabs, not worth my time...


And REALLY, beware of how you respond.

meh

llemon
08-18-2011, 02:16 AM
You have to have a sound business strategy or else you are ****ed. My family owned a restaurant for over 17 years so I think I pretty much know what I would be doing :p

All the best to you, but it's a new world, and if you are business savvy, you know that.

Raps08-09 Champ
08-18-2011, 02:22 AM
I can't believe people are saying that it's hard to live for a year with $1.4 mil.

House and cars are basically the reason people work since they have to pay that off. If I had $1.4 mil, I can pay that off completely having more than enough for food, entertainment and a couple of other stuff.

These NBA idiots go out clubbing spending thousands on alcohol and strippers in 1 night. They also do stupid **** like buy 10 cars for no reason.


Don't tell me it's hard to survive on $1.4 mil when families don't even make $100K sometimes and can live a decent life for a year.

llemon
08-18-2011, 02:22 AM
lol dude i dont even know what argument you are referring to. be more specific.



taking a general statement literally. spoiled as in we have the luxury of spending time talking about bs like this online rather than spending time trying to survive in the concrete jungle or impovrished rural communities.



yeah...



everybody on this site is a damn critic son. all we do is criticize, negative & positive...don't know what your trying to get at here?



so i overestimated, approx. 35-40%. still quite a distance away from the aforementioned 14mil salary.



:violin:
spare me the personal jabs, not worth my time...



meh

Damn, I appreciate that response.

You've once again proven you don't know what you are talking about, and are proud to express yourself in ways that prove it to everyone.

Please continue.

I've always said that many of the biggest idiots I know are college graduates.

I know you haven't graduated yet, but you are certainly on the path of proving me correct.

LakersMaster24
08-18-2011, 02:22 AM
I am pretty sure I can live a year with 1.4million dollars (Vets minimum). These athletes go and buy like 5 cars, and a house in each major US city, then go to the clubs spend thousands there or spend it on prostitutes. I understand that all of that is part of being a famous athlete (Actually, I dont understand that), but you have to be SMART about spending your money, especially when you know there is a lockout.

LakersMaster24
08-18-2011, 02:23 AM
I can't believe people are saying that it's hard to live for a year with $1.4 mil.

House and cars are basically the reason people work since they have to pay that off. If I had $1.4 mil, I can pay that off completely having more than enough for food, entertainment and a couple of other stuff.

These NBA idiots go out clubbing spending thousands on alcohol and strippers in 1 night. They also do stupid **** like buy 10 cars for no reason.


Don't tell me it's hard to survive on $1.4 mil when families don't even make $100K sometimes and can live a decent life for a year.

This.

FriedTofuz
08-18-2011, 03:56 AM
West is a criminal, he should be behind bars where he belongs. He, along with other athletes, dont know how to manage their money and therefore become broke as time persists.

Bulls_fan90
08-18-2011, 04:31 AM
At least he banged Lebrons mom.

PHX2daDEATH
08-18-2011, 08:44 AM
motorcycles, guns, crazy girlfriends, std treatments, court costs, lawyer fees, and jewelry (Funny i remember watching Delonte on tv show, where he was buying expensive *** watches )..i can see how 14 million went fast with Delonte. people making under 40,000 grand a year cant even begin to fathom what they would really do with a million dollars..only 2 % of US citizens make over a million dollars a year..think about that..most of us will never make a million dollars in our lifetime and these guys are making over ten times that in a single year

and here i was thinking Delonte was gangsta, and he straight up said he needed his THERAPIST,

gwrighter
08-18-2011, 10:32 AM
Damn, I appreciate that response.

You've once again proven you don't know what you are talking about, and are proud to express yourself in ways that prove it to everyone.

No, I think you don't know what i'm talking about haha.

& thanks for ignoring my questions, because that right there is exactly what is making me look sooo stupid. trolol.


I've always said that many of the biggest idiots I know are college graduates.

n yes, engineers, mathematicians, scientists, & doctors are all the biggest idiots you know i'm sure.:rolleyes:


I know you haven't graduated yet, but you are certainly on the path of proving me correct.

you don't know me son.:smoking:


...back on topic...I wish all the best for Delonte West. The season will eventually be back soon enough so i wouldn't be too worried if I was him. He's good enough to grab a roster spot on many if not all teams once the lockout ends.

Gibby23
08-18-2011, 11:11 AM
A lot of people say "OMG if i had a 5 mil contract id be set for life!" sometimes its not that easy for these guys. Most NBA players come from poor backgrounds n therefore use a portion of the after tax money on uplifting their family from poverty. Unlike us spoiled mofo's.

That is a nice way of saying that a lot of these players are stupid.

Sly Guy
08-18-2011, 11:16 AM
You have to have a sound business strategy or else you are ****ed. My family owned a restaurant for over 17 years so I think I pretty much know what I would be doing :p

There are a lot of factors in investment, let alone small business that can pop up at a moment's notice. Restaurants, for example, are some of the riskiest business ventures around. Banks often refuse to finance them because the average lifetime of a restaurant is 2 years. I'm not saying you or your folks didn't know what you were doing, but you have to expect that the norm is not necessarily what you experienced. There are risks in any capital investment, and as a US citizen right now, I think you, of all people should appreciate that fact. $1.4million as a nest-egg doesn't leave that much wiggle room for ~40 more years of life should anything go sour.

for ex:
If he were to invest the entire amount of $1.4mil, if he were to get an average rate of return of 7% [a relatively good rate of return off a nest egg that size, but likely an intolerable risk factor] his take on that money would be $98,000/ann before taxes. Not reinvesting that income would be a bad move, because over 40 years, he's losing a lot of ground to inflation. If he were to spend every penny of that $98,000/year as living expenses, the equivalent living expenses towards the end of that 40 year term would be over $200,000/year [inflation at 2.75%, and this is a personal call, cuz I think your economy is in for a long period of recovery, but I'm not a pHD in economics, so take it as you will]. Now, without getting into a year-by-year breakdown of the compound interest, I think it's safe to say Delonte can't afford many years spending $200,000 on today's value of $98,000 worth of living expenses.

Keep in mind, that figure of $98,000 is BEFORE taxes. As a Canadian, I can't speak with certainty of your tax structure, but I imagine the tax laws regarding capital gains vary from state to state. Even if he decides to move to a state with the best possible tax situation, he has to do an analysis of the cost of moving there and the cost of the money he loses from his annual interest vs the money he saves in taxes.

Another way of looking at it is this: With an average income of 50,000/yr, without any cost of living increases in salary for that 40 years, the total income would be $2mil.


All in all, I think he'd probably need closer to 10x the amount he's got from last year's salary before he can start feeling safe in his financial future for the next 40 years. Don't be swayed by the idea of a lump sum.....it's the same problem some of the lesser mindful players make. They see a lot of trailing 0's and think the figure is a lot bigger than it actually is.

Gibby23
08-18-2011, 11:24 AM
There are a lot of factors in investment, let alone small business that can pop up at a moment's notice. Restaurants, for example, are some of the riskiest business ventures around. Banks often refuse to finance them because the average lifetime of a restaurant is 2 years. I'm not saying you or your folks didn't know what you were doing, but you have to expect that the norm is not necessarily what you experienced. There are risks in any capital investment, and as a US citizen right now, I think you, of all people should appreciate that fact. $1.4million as a nest-egg doesn't leave that much wiggle room for ~40 more years of life should anything go sour.for ex:
If he were to invest the entire amount of $1.4mil, if he were to get an average rate of return of 7% [a relatively good rate of return off a nest egg that size, but likely a stronger risk factor] his take on that money would be $98,000/ann before taxes. Not reinvesting that income would be a bad move, because over 40 years, he's losing a lot of ground to inflation. If he were to spend every penny of that $98,000/year as living expenses, the equivalent living expenses towards the end of that 40 year term would be over $200,000/year. Now, without getting into a year-by-year breakdown of the compound interest, I think it's safe to say Delonte can't afford many years spending $200,000 on today's value of $98,000 worth of living expenses.

Keep in mind, that figure of $98,000 is BEFORE taxes. As a Canadian, I can't speak with certainty of your tax structure, but I imagine the tax laws regarding capital gains vary from state to state. Even if he decides to move to a state with the best possible tax situation, he has to do an analysis of the cost of moving there and the cost of the money he loses from his annual interest vs the money he saves in taxes.

I live in Sacramento CA. If i had 1.4 million, i would buy 10 to 12 houses and rent them out for $1200 a month. That is $12000 to $14400 cash a month. Set aside $2000 a month for investments, $2000 a month for any repairs or maintenance that may or may not need to be done to the houses, set aside $2000 (about $200 per house) for property taxes, and you have about $6000 a month to live off.

Sly Guy
08-18-2011, 11:33 AM
I live in Sacramento CA. If i had 1.4 million, i would buy 10 to 12 houses and rent them out for $1200 a month. That is $12000 to $14400 cash a month. Set aside $2000 a month for investments, $2000 a month for any repairs or maintenance that may or may not need to be done to the houses, set aside $2000 (about $200 per house) for property taxes, and you have about $6000 a month to live off.

I'd love to dissect your accounting, but as a non-resident, I'm at a disadvantage to you in knowledge of your local tax laws which is why I've tried to keep specific investments and tax figures out on my calculation. That being said, there are still risks in property, I mean, it was the housing market that's caused wall street to crash...

besides, you have to factor in mortgages in an investment of 10-12 houses, cuz there's no way 1.4 million will get you 10 houses at 140,000 each. Taking into account average real estate prices in toronto, you won't get any house for less than $200,000, and likely none of any immediate value below the $275,000-$300,000 each.

Gibby23
08-18-2011, 11:39 AM
I'd love to dissect your accounting, but as a non-resident, I'm at a disadvantage to you in knowledge of your local tax laws which is why I've tried to keep specific investments and tax figures out on my calculation. That being said, there are still risks in property, I mean, it was the housing market that's caused wall street to crash...

True, but people still need a place to live and if you pay the houses off upfront, it is a good way to produce income. Right now is a good time to buy because they are at a low point and prices will go up at some point (not to what they were before the crash). I would never carry a mortgage on 10 properties. I didn't account for tax, but if you own 10 houses, you can write alot of stuff off on repairs and maintenance, and if you do owe tax you pay it from the money that was set aside for maintenance and investments.

Gibby23
08-18-2011, 11:41 AM
I'd love to dissect your accounting, but as a non-resident, I'm at a disadvantage to you in knowledge of your local tax laws which is why I've tried to keep specific investments and tax figures out on my calculation. That being said, there are still risks in property, I mean, it was the housing market that's caused wall street to crash...

besides, you have to factor in mortgages in an investment of 10-12 houses, cuz there's no way 1.4 million will get you 10 houses at 140,000 each. Taking into account average real estate prices in toronto, you won't get any house for less than $200,000, and likely none of any immediate value below the $275,000-$300,000 each.

The median price in Sacramento is $160,000 and if you pay the banks cash on the short sales you can easily get 10 houses all paid off.

Sly Guy
08-18-2011, 11:48 AM
True, but people still need a place to live and if you pay the houses off upfront, it is a good way to produce income. Right now is a good time to buy because they are at a low point and prices will go up at some point (not to what they were before the crash). I would never carry a mortgage on 10 properties. I didn't account for tax, but if you own 10 houses, you can write alot of stuff off on repairs and maintenance, and if you do owe tax you pay it from the money that was set aside for maintenance and investments.

you are right, it is a buyers market. The mortgages likely wouldn't be that bad. Considering he'd be one of the better prospective clients out there and has a large chunk of the capital already paid for through the $1.4mil, even in an extremely cautious lending market like it is right now, he'd likely get decent terms. The only snag would be his lack of income without the investment properties already set up. I'd have to talk to my fam about those types of conditions cuz they do this kind of lending everyday, but I imagine the banks could throw the deal to the wind if they believe that Delonte can't get tenants, or tenants that can pay what he's expecting, or that the startup costs of reno'ing any of those properties for a rental situation were to make the proposal infeasible.

All I can say, is if you can get a house in Sacramento for $140,000, it's time for me to consider moving there.

Gibby23
08-18-2011, 12:09 PM
you are right, it is a buyers market. The mortgages likely wouldn't be that bad. Considering he'd be one of the better prospective clients out there and has a large chunk of the capital already paid for through the $1.4mil, even in an extremely cautious lending market like it is right now, he'd likely get decent terms. The only snag would be his lack of income without the investment properties already set up. I'd have to talk to my fam about those types of conditions cuz they do this kind of lending everyday, but I imagine the banks could throw the deal to the wind if they believe that Delonte can't get tenants, or tenants that can pay what he's expecting, or that the startup costs of reno'ing any of those properties for a rental situation were to make the proposal infeasible.

All I can say, is if you can get a house in Sacramento for $140,000, it's time for me to consider moving there.


Come on down....lol.. you cna get better deals on real estate in Texas. My brother in law lives in BC and he just bought 3 houses down here about a year ago, I manage them for him and i have 2 of my own (one that me and my family live in and 1 that we rent). I only take section 8 clients because the government pays you about 80% of the rent directly.

xM1GSx
08-18-2011, 12:19 PM
this is quite comical

synister281
08-18-2011, 12:23 PM
Anyone who makes 14mm and is broke? :laugh:

Me and my wife survive yearly well under 100K and we live just fine, take trips, and live in the heart of Chicago. Some people just don't know how to budget money at ALL.

MVP1
08-18-2011, 12:30 PM
He spent the money on Lebron's mom

Assman22
08-18-2011, 12:48 PM
Great, he'll be working next to Antoine Walker and Cecil Fielder....haha

gwrighter
08-18-2011, 01:47 PM
That is a nice way of saying that a lot of these players are stupid.

Are you implying that spending money on poor family members is stupid? Cuz I certainly dont think so.

TO Rapz
08-18-2011, 01:53 PM
lmao home depot..:laugh2:

Gibby23
08-18-2011, 01:57 PM
Are you implying that spending money on poor family members is stupid? Cuz I certainly dont think so.

If it leads to irresponsible spending and everyone ending up broke again, then yes, I am implying that spending money on poor family members is stupid.

gwrighter
08-18-2011, 02:10 PM
If it leads to irresponsible spending and everyone ending up broke again, then yes, I am implying that spending money on poor family members is stupid.

depends on how u define irresponsible spending of course. If he bought his friends & parents luxury cars then yes that is irresponsible. But if he spent money on buying homes in a safer/nicer location & medical bills then I can't fault him. Some of these players wouldn't be in the NBA if it weren't for their immediate family & friends. So it's natural to feel indebted to those who raised you, kept you on the right path etc.

I would advise against spending money on people until broke. but i can't stigmatize some1 for doing it within reason.

topdog
08-18-2011, 02:35 PM
We don't know everything Delonte, and players like Delonte have been through growing up. Plus he does have a disorder, but that still isn't an excuse for him to spend all of his money, assuming it was on things such as cars, houses, jewelry, etc. At least this lockout will be a lesson for the players like Delonte to learn to save money in case anything like this happens again.

Maybe this is a good reason why more players should stay in college and get an actual education. I'm tired of hearing this ish about people getting rich out of the hood and having this "I want it" mentality. This culture of flaunting what you have 'cuz you never had any. You'd think with the number of guys that come from poverty, that there would be more opportunies for urban youth, but the majority of rappers and "ballers" don't give ***** enough to save someone from what they faced growing up.

Rant over.

mttwlsn16
08-18-2011, 02:50 PM
glorias goona beat him when he gets home

WestCoastSportz
08-18-2011, 03:14 PM
Lets not forget that just because you're contract states that you make $5M a year, it doesn't mean you get paid $5M a year. Take into consideration taxes and they're getting more like $2.5M a year. Then they have to pay for insurance on their 5 cars, home and I'm sure they have some kind of healthcare benefit they have to pay into. Then comes a luxury and property tax. Lets not forget expenses like clothes, food, nannies or education for their kids. I can see how they can blow $2M a year...easily.

The NBA has become a hip-hop culture. Young athletes that want to show off how much money they make by buying big houses, cars and diamonds. If you've ever watched the TV show Cribs and you could see the difference. Jared Allen has a modest house, trucks and doesn't have $30K earrings on. Then you goto someone like Dwayne Wade's with a big "W" in the foyer that probably cost him a price of most houses. And who can blame them right? If I grew up poor and came across a couple of million of dollars, I'd buy all the things I wanted too. These guys are rich, but they're not wealthy. Bill Gates is wealthy. Larry Ellison is wealthy. Lebron James is rich.

sventhedog
08-19-2011, 03:06 AM
that's kind of sad.

dodie53
08-19-2011, 05:57 AM
atleast he is not just sitting around and doing nothing

AKAYaReal
08-19-2011, 10:24 AM
Maybe most of his money has been going to his therapist.

effen5
08-19-2011, 07:26 PM
ITT: we talk about how NBA players are ********...

BTW, if you came from a poor background like Delonte did or like my parents did who came to America in 83 with 20 bucks in their pockets....they appreciate money a lot more then a person with millions of dollars.

Its just that NBA players are idiots and spend money like it grow on trees.

njnets
08-19-2011, 10:42 PM
lower tier? hes made 14 MILLION! no remorse, hes just plain stupid.

MR.TRIPDUB
08-20-2011, 04:50 AM
He should just write a book. A chapter of gloriA and lebron would give him a bestseller

macc
08-20-2011, 11:20 AM
It's annoying how some of you other fans take the "high and mighty" road and act like if YOU had that low tier money that you would just be fine financially when in REALITY, most people, esp in their teens and twentys don't know how to handle financing and spend when they have the money. I can guarentee you 90% of the people on this thread spend any extra money they get.

Let me ask you this. When you get your income tax check at the end of the year. Do you take those thousands and put it in savings? Or do you go out and buy an LCD TV or some other "toys" you've been wanting for sometime? Why are NBA players held to a higher standard in this reguard? When we all do it to a certain extent.

How much money is in YOUR account? Are you saving each week? Or are you living paycheck to paycheck? So before some of you come off all high and mighty you might want to look in the mirror. Plus when you're making that kind of money you have family members you have to take care of, friends, charties, ect. Bottom line is if it was sooo easy to get 1-3 million dollar contracts and be set for life then you wouldn't have thousands of current/former NBA, NFL, MLB players going broke at such young ages.

macc
08-20-2011, 11:35 AM
If I got 1.4 million I would be set for life. I would open up some business and invest a bit and I think I would still have enough for a house and car. I wont be exclusive but I would atleast be alright.


No you wouldn't. If somone is getting paid 1.4 million, that's not 1.4 million "take home." 1.4 million is before taxes. What they actually prob get is around $910,000 or even less then that. Now you buy a home, depending on the market will determine what you spend on that. An average home in my home town runs you 230-330k and I live in ND. You go to big cities and they are even more yet. So now you see the NBA player spend half his yearly salary just on the home alone. On top of that he's paying taxes on it each year.

Let's take a look at a player who makes the MLE.

Sasha Vujacic signed a contract for 5 million in 2009-2010.

His check BEFORE taxes every 2 weeks is $192,307
-after taxes (10.3% from Cali taxes) + (35% from the FEDS) = $105,192.30

So in reality Sasha's take home per year for the next 3 years (at start of his contract) will be $2,734,999 out of $5mil.

Granted that's not chump change by no means but their take pay is much less then what they had signed for.

beasted86
08-20-2011, 01:53 PM
I noticed nobody is talking about the revenue the players receive from BRI (Basketball Related Income) aside from their actual contracts.

Delonte and all players likely take home more than you'd think.

macc
08-20-2011, 02:30 PM
I noticed nobody is talking about the revenue the players receive from BRI (Basketball Related Income) aside from their actual contracts.

Delonte and all players likely take home more than you'd think.



Ummm not sure where you're going with this but the players DO get BRI. That is what is paying for their salary. Currently the NBA players split 57% of the BRI. The owners get the other 43%. So currently 57 cents out of a dollar go to the players salary. In the lockout the owners are trying to change that to the low 40's because some owners are claiming a loss of income.

In any case you're making it wound like BRI is something they get ON TOP of their salary when in reality, that is what makes up their salary, or at least most of it.

The only thing a player is going to make on top of their salary is personal endorsements, autograph signings...ect.

daleja424
08-20-2011, 04:13 PM
Ummm not sure where you're going with this but the players DO get BRI. That is what is paying for their salary. Currently the NBA players split 57% of the BRI. The owners get the other 43%. So currently 57 cents out of a dollar go to the players salary. In the lockout the owners are trying to change that to the low 40's because some owners are claiming a loss of income.

In any case you're making it wound like BRI is something they get ON TOP of their salary when in reality, that is what makes up their salary, or at least most of it.

The only thing a player is going to make on top of their salary is personal endorsements, autograph signings...ect.

The NBA holds money in escrow to prevent the possibility that they overpay the players (I think it was something like 170 million this year). Less than a month ago the MBA announced that the players were going to get all o that back this summer so west got a nice chunk of extra money not that long ago.

beasted86
08-20-2011, 04:27 PM
As I understood it BRI was something they did get on top of their contact. Your explanation doesn't make sense in regards to how people have talked about it.

Derek Fisher even said owners were trying to withhold money they were already supposed to get as part of BRI. That wouldn't be consistent with your explanation as players have already received all their contract guarantees. It seems to make sense that it would have to be money the nba assesses after the season and distributes around the same time they meet each summer to go over the books and determine what the salary cap and MLE will be set at.

But if you are certain otherwise, please post any links as I'm always curious how NBA finances work.

LakersMaster24
08-20-2011, 11:38 PM
It's annoying how some of you other fans take the "high and mighty" road and act like if YOU had that low tier money that you would just be fine financially when in REALITY, most people, esp in their teens and twentys don't know how to handle financing and spend when they have the money. I can guarentee you 90% of the people on this thread spend any extra money they get.

Let me ask you this. When you get your income tax check at the end of the year. Do you take those thousands and put it in savings? Or do you go out and buy an LCD TV or some other "toys" you've been wanting for sometime? Why are NBA players held to a higher standard in this reguard? When we all do it to a certain extent.

How much money is in YOUR account? Are you saving each week? Or are you living paycheck to paycheck? So before some of you come off all high and mighty you might want to look in the mirror. Plus when you're making that kind of money you have family members you have to take care of, friends, charties, ect. Bottom line is if it was sooo easy to get 1-3 million dollar contracts and be set for life then you wouldn't have thousands of current/former NBA, NFL, MLB players going broke at such young ages.

One must know the border between spending and over spending. You have to live life, and when you have a lot of money it is obvious that you should spend some of that money for something you can enjoy. Stacking up money and watching the hill grow is not the answer. If you have $2000 and you still have an old TV from like the 90's, then yes it is much smarter to go and buy a new TV. However, if you have a 40" LCD in your living room, but you want a new Sony 55'' 3DTV then thats what I call overspending. You gotta balance it.

Gary Reasons
08-20-2011, 11:57 PM
Can't the nba set up some thing for players on how to spend money? I mean damn. There isnt anything wrong with buying the finer things in life but save and invest in that

do they have a rookie symposium like the NFL does?

iamsteel
08-21-2011, 01:12 AM
Let's take a look at a player who makes the MLE.

Sasha Vujacic signed a contract for 5 million in 2009-2010.

His check BEFORE taxes every 2 weeks is $192,307
-after taxes (10.3% from Cali taxes) + (35% from the FEDS) = $105,192.30

So in reality Sasha's take home per year for the next 3 years (at start of his contract) will be $2,734,999 out of $5mil.

Granted that's not chump change by no means but their take pay is much less then what they had signed for.

Sad to say, that will take me 50 years to make, not 3.

gattaca
08-21-2011, 01:33 AM
not an excuse, but his agent and the goverment together took over half of that money. It's probably more like 6 million that he's spent. But still. Wow. A story we hear WAY too often

gattaca
08-21-2011, 01:36 AM
It's annoying how some of you other fans take the "high and mighty" road and act like if YOU had that low tier money that you would just be fine financially when in REALITY, most people, esp in their teens and twentys don't know how to handle financing and spend when they have the money. I can guarentee you 90% of the people on this thread spend any extra money they get.

Let me ask you this. When you get your income tax check at the end of the year. Do you take those thousands and put it in savings? Or do you go out and buy an LCD TV or some other "toys" you've been wanting for sometime? Why are NBA players held to a higher standard in this reguard? When we all do it to a certain extent.

How much money is in YOUR account? Are you saving each week? Or are you living paycheck to paycheck? So before some of you come off all high and mighty you might want to look in the mirror. Plus when you're making that kind of money you have family members you have to take care of, friends, charties, ect. Bottom line is if it was sooo easy to get 1-3 million dollar contracts and be set for life then you wouldn't have thousands of current/former NBA, NFL, MLB players going broke at such young ages.

Amen. I agree. But I'm in that 10% that actually save. I've saved 40k this year alone.

Kyle N.
08-21-2011, 04:06 AM
For all of you that say a lot of NBA players start out poor and are now supporting their family, how many millions of dollars do their poor families need? A lot of people make a hell of a lot less than Delonte and are doing well enough. And we're making it seem like he's living in rags out on the cold streets without food or water. He just applied to Home Depot. I think he's going to live. And this is the best part:


"Can't even get that over seas money," he tweeted.

I love the way that's put. Let's not think for a second that he would want to play basketball overseas because he really loves the game and doesn't want to stop playing. Not saying it can't be true with other players but I like the way he puts it.

smiddy012
08-21-2011, 09:42 PM
For all of you that say a lot of NBA players start out poor and are now supporting their family, how many millions of dollars do their poor families need?

Most NBA players wouldn't dare or even think of banging LBJs mom... but nice spin job you did there - trying to equate the average NBA player with Delonte... frankly you're no better than anyone who thinks Delonte's worth defending.

Kyle N.
08-21-2011, 10:37 PM
^I'm not even really talking about Delonte. I'm just responding to what some people say in general. Saying you need to support your poor family is no excuse to be down millions of dollars.

todu82
08-22-2011, 08:28 AM
You're hearing more and more of these stories with athletes having no money left over. Maybe after the lockout is over the NBA could set up a system where players are taught to spend their money more responsibly.

RowBTrice
08-22-2011, 09:08 AM
what a dumb ***

Kyle N.
08-22-2011, 05:43 PM
do they have a rookie symposium like the NFL does?

Yeah they do.

Tony_Starks
08-22-2011, 05:52 PM
For what its worth West does have bipolar disorder and uncontrolled compulsive spending is a common characteristic of it. I doubt he represents the "normal" nba player in any way.....