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-   -   Warren Sap broke ? (http://www.draftcountdown.com/forum/showthread.php?t=54345)

49erNation85 11-01-2012 07:19 PM

Warren Sap broke ?
 
Not sure if any one cares but some how another NFL star is broke.But yet he has a job at NFL Network. I just saw the head line on the Orlando Fl news. Google if you need too. Also a bunch of his stuff and or house is being Auctioned off too.

vidae 11-01-2012 07:21 PM

This is months old news. This was a story about 6 months ago.

49erNation85 11-01-2012 07:22 PM

Well my bad, I just now saw it on tv.

vidae 11-01-2012 07:55 PM

I wasn't trying to be a jerk, just saying that it isn't new.

YAYareaRB 11-01-2012 10:14 PM

yeah i remember this being news months ago. someone posted an article about how much jordans this fool had

Splat 11-01-2012 10:16 PM

I'm also broke.

YAYareaRB 11-01-2012 10:17 PM

Quote:

Originally Posted by Splat (Post 3170379)
I'm also broke.

i am also on that ship

49erNation85 11-01-2012 10:28 PM

I think if the normal of us people had all them millions we wouldn't go broke in like 20 years or at least I wouldn't be broke that fast. All I would need is a like a 6 bed room house or plus 10 arches of land a truck to tow stuff and a few toys and I'd be happy camper . Rest of the money goes into the bank or kids college fun later on . Dam spendy money happy people are once they get it.

Ness 11-01-2012 10:30 PM

Quote:

Originally Posted by 49erNation85 (Post 3170396)
I think if the normal of us people had all them millions we wouldn't go broke in like 20 years or at least I wouldn't be broke that fast. All I would need is a like a 6 bed room house or plus 10 arches of land a truck to tow stuff and a few toys and I'd be happy camper . Rest of the money goes into the bank or kids college fun later on . Dam spendy money happy people are once they get it.

Hard to say. It's easy to believe when you're on one side of the fence. There are tons of people that are terrible with their money. It doesn't matter if you are rich or a part of the middle class. I'm sure there are a bunch of people with your line of thinking, that acquired a fortune, and also went broke/lost it all.

Eazy Picks 11-01-2012 11:51 PM

Quote:

Originally Posted by Ness (Post 3170397)
Hard to say. It's easy to believe when you're on one side of the fence. There are tons of people that are terrible with their money. It doesn't matter if you are rich or a part of the middle class. I'm sure there are a bunch of people with your line of thinking, that acquired a fortune, and also went broke/lost it all.

yes its true, you never know what youre gonna do in a situation until youre in it. People always say what they would if they had money, but once you get that $$$, it can change you. I know Ive had times where I was broke and down on my luck and Id say to myself when I get things turned around Im gonna be smarter with my money...and then guess what things do get turned around and I get caught up in the highs and use my $ stupidly.

hard to believe with Sapp though considering he had such a long career in the NFL and is also has a job as a commentator.

But in general with these athletes, a lot of them are just kids when they get handed millions of dollars and have no idea how to handle it.

SickwithIt1010 11-01-2012 11:52 PM

Quote:

Originally Posted by 49erNation85 (Post 3170396)
I think if the normal of us people had all them millions we wouldn't go broke in like 20 years or at least I wouldn't be broke that fast. All I would need is a like a 6 bed room house or plus 10 arches of land a truck to tow stuff and a few toys and I'd be happy camper . Rest of the money goes into the bank or kids college fun later on . Dam spendy money happy people are once they get it.

You would have to spend at least a couple million for grammar/spelling lessons.

Da-Phins 11-02-2012 04:38 PM

Doesnt Sapp have gambling problems?...That would do that to ya.

Babylon 11-02-2012 05:34 PM

Is it me or are the guys who end up broke the ones that usually come from the football factories.

Ness 11-02-2012 05:39 PM

Quote:

Originally Posted by Babylon (Post 3171040)
Is it me or are the guys who end up broke the ones that usually come from the football factories.

I don't think so. Like I said, a lot of people rich and poor lose their money. People like Sapp are simply documented to the national media because folks actually know who he is/was.

NY+Giants=NYG 11-02-2012 05:44 PM

Quote:

Originally Posted by Da-Phins (Post 3170988)
Doesnt Sapp have gambling problems?...That would do that to ya.

http://aol.sportingnews.com/nfl/stor...-athletes-list

Quote:

There were 240 pairs of sneakers, give or take an Air Jordan XVII.
Quote:

It’s gotta be the shoes, not to mention the women, the children, the de Grisogono watch, the lion skin rug and having the investment acumen of Warren Buffet’s ukulele.
Quote:

A 2009 Sports Illustrated study found that 78 percent of former NFL players go bankrupt or are under financial stress within two years of retirement. Fifty percent of NBA players are broke five years after leaving the league.

Quote:

Sapp had two kids with his ex-wife, Jamiko. He had four other children with four different women.


So in the end it comes down to your life style. His caught up to him.

FUNBUNCHER 11-03-2012 03:28 AM

Six children by 5 different baby mommas.
That's were Sapp's money went.

More than a few pro athletes go broke by trying to turn $5 mil into $50 mil with totally sketchy investments that usually belly up.

Advice to soon to be pro athletes; put three quarters of your after taxes income in the BANK, put a third of that cash in an index/mutual fund and chill out.

Stop thinking you're gonna be the next Bill Gates, and if you do get involved in a business venture, don't you be THE principle investor who's putting up all the money for a start up.

Magic Johnson should really write a financial how-to book for pro jocks. Since he retired in the early 90s, his net worth is between $500-750 mil, and the majority of his wealth was earned outside of basketball.

Vox Populi 11-04-2012 02:09 AM

I like to think that if I were rich I would die before the age of 35 from literally drowning in a sea of ***** to avoid paying child support for all of the illegitimate children I would have fathered like all of these football players do.

Caddy 11-04-2012 03:18 AM

Quote:

Originally Posted by FUNBUNCHER (Post 3171381)
Six children by 5 different baby mommas.
That's were Sapp's money went.

More than a few pro athletes go broke by trying to turn $5 mil into $50 mil with totally sketchy investments that usually belly up.

Advice to soon to be pro athletes; put three quarters of your after taxes income in the BANK, put a third of that cash in an index/mutual fund and chill out.

Stop thinking you're gonna be the next Bill Gates, and if you do get involved in a business venture, don't you be THE principle investor who's putting up all the money for a start up.

Magic Johnson should really write a financial how-to book for pro jocks. Since he retired in the early 90s, his net worth is between $500-750 mil, and the majority of his wealth was earned outside of basketball.

It's not like it is that hard to get some sound financial advice concerning stocks and what not either. Athletes are just morons the vast majority of the time.

McBain 11-04-2012 07:07 PM

i guess you could say he's completely sapped. Of money.

Borat 11-04-2012 08:22 PM

Quote:

Originally Posted by Caddy (Post 3172358)
It's not like it is that hard to get some sound financial advice concerning stocks and what not either. Athletes are just morons the vast majority of the time.

Yeah, they should seek advice from some saavy stock guys. Hey, what's that Bernie Madoff guy doing right now?

Point is, these guys get ripped off from all angles in their lives. Financial Darwinism takes over at some point.

Brent 11-04-2012 08:25 PM

Quote:

Originally Posted by Borat (Post 3173685)
Yeah, they should seek advice from some saavy stock guys. Hey, what's that Bernie Madoff guy doing right now?

Point is, these guys get ripped off from all angles in their lives. Financial Darwinism takes over at some point.

Vernon Davis has a goddamn charity to keep art in urban schools. One would assume that they availability of sound financial help is readily available.

wogitalia 11-06-2012 02:43 AM

A fool and his money are soon parted.

Most professional athletes forsake a proper education in order to become professional athletes and as a result they make a lot of really stupid decisions once they have money.

There is nothing complex about why it happens so often. Just like most people on this forum (which as internet forums go is a highly educated forum) will not declare bankruptcy in their lifetimes.

Ness 11-06-2012 03:09 AM

Quote:

Originally Posted by wogitalia (Post 3175084)
A fool and his money are soon parted.

Most professional athletes forsake a proper education in order to become professional athletes and as a result they make a lot of really stupid decisions once they have money.

Right, but a lot of these athletes have suffered from socioeconomic problems. A lot of players grow up in certain areas all their young life that forsake a proper education and teach material wealth as the only way to succeed in life. I'm not saying anyone should feel bad for these people, but I am saying that it's not always clear, cut, and dry as to why it happens to a lot these athletes. Someone that didn't grow up in the streets and was encouraged to take their education seriously at a young age probably has a better chance of not going broke, because they're better prepared in terms of being financially literate once they hit the big show so to speak.

Quote:

Originally Posted by Borat (Post 3173685)
Yeah, they should seek advice from some saavy stock guys. Hey, what's that Bernie Madoff guy doing right now?

Point is, these guys get ripped off from all angles in their lives. Financial Darwinism takes over at some point.

You mean the rich guys in suits are trying to get richer? Whaaaaaatttt.....


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