Quote:
Originally Posted by L-Pink
With the high percentage of broke players you would think the players associations would push for contracts with long term payments.
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The players unions all have rookie financial camps where they have people come in and tell the players how to responsibly handle their money. These people are always on call for the players and can recommend others who will help them.
The problem is that they want the players to invest in tried and true boring things, like buying some real estate, investing in blue chip stocks, etc. The players want cool stuff like clothing lines, record labels and restaurants. Plus the end up trusting the wrong people with their money.
Add in agents fees, taxes, divorce, kids and other things and the money goes quickly.
There is no way the owners would ever go for long term contracts that pay out for many many years. They would never want to pay players who are no longer on the team. Sometimes it happens when a player restructures a contract for a long term deal that is guaranteed then gets hurt and has to leave the game or gets cut, but mostly the second the player can no longer play for that team the team is doing everything it can to separate itself from them financially.