NBA Lockout: Broke Ballers

Basketball is one of my favorite sports to watch on TV especially a Celtics vs. Lakers game. If you were to cut me with a knife during a basketball game I would  bleed green and white. Yap that’s right Boston Celtics all day everyday. Team Rondo, KG, Paul Pierce and Ray Allen. I am a certified stan. Thinking of getting their logo tattooed on my left butt cheek . What ya’ll think…yay or nay? Nyhoo…

Broke ballers is an oxymoron but nevertheless a sad reality. The NBA has been grappled with a tense lockout in which the owners and the players have yet to reach a pay consensus. Yahoo run an article about this situation, and the comment section overflowed with comments that would make for interesting dissertation papers. One of them came from Robert who  had me at amen when he stated:

does anybody really care about millionaires fighting with billionaires about who gets more money?

Catchword: millionaires.  Ray, another commenter was more introspective and looked at the issue from a broader angle.

a plague on both their houses. billionaires fighting millionaires, what about the poor SOB working for a living, trying to pay their bills who now don’t have jobs. Also what about the charities who earn money by operating the consession stands at many arenas. A$$HATS  ALL OF THEM.

This ongoing lockout is not only affecting the millionaire players, but those that work at the lower corporate levels such as cleaners at these arenas, and as pointed out by Ray, charities. The Commissioners clout-Howard David Stern, has thus far prevailed. This is a clear indicator of corporate greed! #OccupyWallStreet

Now onto the meat of this article. Broke ballers. If you read the article I linked in full you will have come across this.  Millions of dollars dolled out to dunk a ball. Requires a lot of skill and discipline to master this game at a professional level. It is quite unfortunate when I read about these ballers, literally balling out of control and shitting out money, left right and center and then crying broke.

When you have the likes of Allen Iverson, ranked by the ESPN as the fifth best shooting guard in history earning $20.84million a year you kinda have to scratch your head when you read about his home being foreclosed? The one that had me at WTF was Kenny Anderson, who played for the Boston Celtics at his prime. He filed bankruptcy as his divorce had drained him financially,  he was supporting two ex-wives and six children. Cottamn! # Occupy condom.

I just do not for the life of me understand how you can go from being a high net-worth individual to being broke. Financial savvy does not require one to have graduated from an Ivy League school. Essentially, it boils down to common sense. For the ballers it would go something like this: A new Maybach to add onto your already bursting out of control garage or a college trust fund for your kids? 

At one point in time, Terrell Owens better known as T.O was considered an NFL asset at the moment no one wants to sign him as he is not at his A-game, thus a liability. Truthfully speaking, his age is a factor. His finances have taken a hit, obviously. He is not marketable as he once was.  Apparently, he blames this on a third party-a business manager who swindled him. He has had 14 solid years in the NFL. That’s enough time to have crossed over to the billionaire threshold if you ask me.  

Most of these players are recruited at the collegiate level, which means that at some point those of them in business are guaranteed to have taken a finance and/or economic class. Pay attention!  Balling out of control as if the millions are guaranteed to roll out forever is quite frightening. Citing busy schedules as the reason why you have third parties taking care of your finances is lame!

Listen ballers, instead of having a harem of women posted in every city you play, having kids by multiple women, tweeting excessively make it a priority to schedule a weekly or bi-weekly  meeting with your financial team.  Ask questions! Before appending your signature on that multi million private jet leasing investment do due diligence. Research! Have your lawyers look over the contract and decode the legalese. That small print you ignore in case you default on a payment will have you paying double your paycheck and filing for bankruptcy at an age when you are supposed to be enjoying your sunset years!

#That’s all, what sayest thou my EY lovers?

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