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African Americans and Executive Positions in Sports
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Will Smith and Oprah aren't getting contracts anywhere near what athletes make?
You have no idea what you're talking about.Gold AKs?
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Who is makign 80 million in a season?
not sure, bro. Still waiting on OP to clarify, because I think he's a tad bit confused about how much these guys bring in yearly.
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The NBA's salary cap for teams is 58 mil, so its impossible for any player to get 80 mil annually
And the NFLs cap is 120 mil, so even if 1 guy could get 80 mil per season, you would only have 40 mil to spend on the other 50 players. So, those guys don't 80 mil per year either
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LeBron's stake in LFC was a pretty monumental step in European football.
the nomad
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Will Smith and Oprah aren't getting contracts anywhere near what athletes make?You have no idea what you're talking about.
Gold AKs?
I was making reference to a gold AK 47 I saw a NBA posing in a pic with, not sure if he actually purchased it, the guitar case was an exaggerated poke at Delonte West.not sure, bro.
Still waiting on OP to clarify, because I think he's a tad bit confused about how much these guys bring in yearly.
As far as Oprah and Will Smith goes, I was pertaining to the beginning stages of their careers. NO they were not getting what Lebron or Kobe gets.
Will Smith only made 50 million a film AFTER The Legend of Bagger Vance. Oprah wasn't an instant millionaire either.
I was simply pointing out they aren't knowledgeable in the NBA or NFL but Will still purchase shares in the 76's.
You don't have to be a billionaire to start an INVESTMENT FIRM to invest in BILLION dollar ideas either. That's how 90% of business is done any how,
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Vick got 40 mil for like 6 years
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Still waiting on OP to clarify, because I think he's a tad bit confused about how much these guys bring in yearly.
OK so **** the 80 million figure then. Not sure why yall are focusing on the figure rather than the point behind dude's post.
Bottom line, if you're making over a mill a year at anything, especially in pro sports, you should know that the money isn't guaranteed forever, and while investment isnt something that will bring guaranteed returns, it's better in the long run to maximize your capital than spending it all on the good life (ie gold plated AK's and what not)
But of course this is being said from the outside looking in. Not sure where my head would be at if I was making that kind of money.
ohmygosher
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Still confused as to who is making 80 million a year.
And as far as athletes investing their money, watch the 30 for 30 called Broke (currently airing on the espn networks).
It sheds a light as to why athletes are bad with money and make bad investments.
And as far as athletes investing their money, watch the 30 for 30 called Broke (currently airing on the espn networks).
It sheds a light as to why athletes are bad with money and make bad investments.
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Will makes bank NOW and can invest in an NBA franchise NOW because of that. These players don't make enough to invest in professional sports team just off of their contracts.
Just having money doesn't mean that you're going to be successful with investing.
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And what you're saying falls on deaf ears. At the rookie symposiums there are seminars on finances....guys aren't looking at the big picture or long term. I think it was Pacman Jones who spent 1 mil in a weekend. He was brought back to speak to the rookies this past year to hopefully spread the message of smartening up w. your funds. Easier said than done.
lets not act like Will actually put up any real money in the 76ers. he and jada are minority owners along with 15 other individuals and the majority owner is Joshua Harris, who is managing partner and has the final say. So Will is pretty much like Jay in the sense as its just for show and marketability.
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One thing to keep in mind is even though a pro athlete might be making 10 mil a yr, that's salary, and its getting taxed at over 35%, compared to income fm investments which is taxed mor along the lines of 15%.
Best way I've hard is that pro athletes are more akin to lottery winners, not businessman
Best way I've hard is that pro athletes are more akin to lottery winners, not businessman
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Because it wasn't an EPL club. Serie A club, Roma. http://dimemag.com/2012/08/report-the-nba-blocked-kevin-garnetts-soccer-investment/
http://www.insidemnsoccer.com/2012/...ves-kevin-garnett-purchases-share-of-as-roma/
A good handful of teams in Europe are American owned. Which does bother my to an extent.
http://www.elitetrader.com/vb/printthread.php?threadid=218980
http://www.slate.com/articles/sports/sports_nut/2010/09/debt_lies_and_cowboys.html
If I remember correctly Jay-Z bother considered investing in Arsenal. Diddy too I think, I know he was also interested in Crystal Palace.
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Js: I hate that about sports culture and American society as a whole. Athletes don't heed the warning from Pacman and Gil, because there's more chirping in their ears about glorifying the professional athlete's lifestyle with glamour and material possessions.
Give me Matt Bonner using $1 off coupons at Subway every day over an athlete that purchases eight luxury vehicles and four stateside properties.
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You're exactly right. Guys sometimes get more enamored with the lifestyle that comes with the big payday. All this YOLO nonsense while not trying to think about the future. On top of it all, there are so many leeches out there giving bad investment advice and only looking out for themselves instead of the best interest of their client.
Take Vince Young for example, Where was his financial advisor to yell in his ear when he caught wind of the amount of dough he was spending at Dave and Busters, TGIFriday's, and the Cheesecake Factory?
You would think common sense would set in when seeing a bank statement that reads:
The Cheesecake Factory - $4999.71
but along w/ the lifestyle and image these guys try to portray comes reckless spending. It's a shame.
We're at the point now where a guy like Alfred Morris on the ******** is applauded by the national media for still driving his 1991 Mazda.
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It will never make sense to me how people try to disparage Jay-z ownership stake in the Nets,
for 1/15 of 1%, he's on the barclays center board of directors, a marketing company which he owns 50% is in the employ of the brooklyn nets and got the commission for the redesigned logo, he didn't pay for 1.7 million dollar installation of a 40/40 club which Jay-z owns, there is a roca wear store in there, im in Canada and you see people out here buying Brooklyn Nets gear, people who aren't even basketball fans, every time you see that brand you are going to think Jay and he paid a million bucks for all that synergy and advertising.
put him any where on gods green earth...
for 1/15 of 1%, he's on the barclays center board of directors, a marketing company which he owns 50% is in the employ of the brooklyn nets and got the commission for the redesigned logo, he didn't pay for 1.7 million dollar installation of a 40/40 club which Jay-z owns, there is a roca wear store in there, im in Canada and you see people out here buying Brooklyn Nets gear, people who aren't even basketball fans, every time you see that brand you are going to think Jay and he paid a million bucks for all that synergy and advertising.
put him any where on gods green earth...
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Jordan is the only African-American majority owner in the NBA. Before that, it was Bob Johnson.
I wrote a very long paper about this a couple years ago for a Politics of Race course, essentially comparing the system of ownership in the league to chattel slavery.
I wrote a very long paper about this a couple years ago for a Politics of Race course, essentially comparing the system of ownership in the league to chattel slavery.
futuremd
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Its the same as winning the lottery.
You didn't earn that money slowly and you don't know what it takes to make that money legitimately...so of course you're going to squander it.
Ya'll overestimate how smart these dudes are when it comes to their competitive lifestyles then saying that they should then reign in their nature to "stunt" on their peers.
Dudes go broke trying to keep up with each other.
You didn't earn that money slowly and you don't know what it takes to make that money legitimately...so of course you're going to squander it.
Ya'll overestimate how smart these dudes are when it comes to their competitive lifestyles then saying that they should then reign in their nature to "stunt" on their peers.
Dudes go broke trying to keep up with each other.
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mr marcus
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...........
I don't think yall understand the majority owners of these teams are WEALTHY......these athletes are just rich......big difference.....and nobody in the NFL is making enough in a career to own a NFL franchise.....
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How could you even prove that scientifically?
futuremd
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yah that doesn't even sound right. Its sounds like a massive extrapolation that some people applied to a conclusion they wanted to be true.
I don't doubt the number of check cashing spots, and that blacks are targets for predatory lending but really?
I'm going to need to see some data on that one.
mr marcus
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oh so he couldn't cause a Celtics owner had ownership in the club too
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You are definitely right about the difference between rich and wealthy but the question that should be raised is why more African-American athletes don't come together (put their money together) and look to form ownership groups?
I think someone raised the point earlier in the thread about the systemic effects of post-slavery on the A.A. community and the reluctance to invest. I think that is a huge factor along with education and A.A. athletes being more concerned with acquiring and spending money rather than investing because they don't have the knowledge, people or structure to tell them how to invest their money.
