if these guys are smart.. it shouldn't be that hard to NOT blow through your money..
nothing wrong with partying and having fun.. but you got dudes doing shhhhh like this:
"Bryant Mckinnie got into a Champagne Bottle buying competition that evening, and bought 36 bottles for a reasonable $20K. The winner? Braylon Edwards, who purchased 51 bottles. I like to think he had to buy so many because he dropped everyone that was passed to him."
if I was a professional athlete, I would have a simple list of things to live by:
1) try to only play in a state(s) without income tax
2) if I'm making investments, very low risk moves
3) keep the majority of my actual salary in the bank.. and live off the interest accrued
4) just 1 car for myself.. if I'm married a singular car for the wife.. if I have kids, singular car for support staff (so no more than 3)
5) no boat or plane
6) get a vasectomy
7) don't hire a agent until after I sign my rookie deal.. the parameters of your rookie deal are already in place based on where you are drafted
hire a tax attorney
9) whatever state I am in, depending on the costs.. look at how much it would costs to retain the top 3 law firms depending on my situation in life.. then they will be conflicted out of acting against you in any capacity
10) everything I own is going to parent company situated in the Bahamas.. then those shares are going to be put in a discretionary trust
11) only buy in states without exorbitant realty taxes and/or inheritance taxes
12) with endorsements, big money goes in the bank.. get stock options from smaller upcoming companies with room for growth.. hell try to get stock options from bigger companies too.. also licensing control for anything with my name attached