Former Dolphins’ Bryant McKinnie Has Money Problems | Page 3 | FinHeaven - Miami Dolphins Forums

Former Dolphins’ Bryant McKinnie Has Money Problems

no simpathy for him, but it seems it is a cultural problem inside NFL (or maybe professional sport, I think many NBA players end like this too), how is it possible that so many players burn so many money without anything left? It is not just one (dumb) person, but so many that there has to be something else other the plain idiocy
I am from Italy: here the multimillionairs are soccer players, I can assure you they are dumb as they come, no more brainiac then a NBA or NFL player, but this kind of story (ending broke after a few years) is quite rare about them, so I am wondering: what is the difference? Bad avice? A different life style? I don't know, but I guess it's not just being rich, young and very dumb

it is puzzling
 
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I'm amazed this thread hasn't sparked off the obvious question to this league-wide problem. Shouldn't we be paying these guys much less? Shouldn't the NFL be charging much less for a game ticket and for merchandise? If the money's all getting blown up Jim Irsay's nose, Bryant McKinnie's stripper's nose, into Goodell's Cayman account and generally wasted by the majority of people who earn from the league, why don't we just pay everybody less??

It has become a money orgy that nobody seems to actually benefit from and empties the pockets of you and I.
 
j-off-her-doll said:
If this weren't so common, it'd be easy to say, 'What a dumb asshole!' But if I remember correctly, over 50% of NFL players are broke within 5 years of their retirement. When this is the case, you're talking about the average person being unable to keep his millions. I'd say that's a red flag. I'm not removing blame from McKinnie, and ultimately it doesn't matter. He's the one that's broke, and he has to live with it. But you have to think the ultra rich (owners and their friends) have to love the arrangement. We pay millions of dollars to these kids to make us (collectively) 9 billions dollars per year, and they'll put it right back in our pockets by spending beyond their means. Not a bad deal for the ORWG.
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Not to make this political but this is why trying to legislate against income disparity is useless. Even when they start even or way ahead, as in McKinney's case, the poors usually fall back into poverty. Many rich people have been broke several times but always bounce back. Some people just have a knack for making money and some people don't.

Sent from my DROID RAZR using Tapatalk
 
So we should feel bad for broke athletes because they blew through more money than most of us will make in a life time and fell for every 'get rich quick' scheme?

Give me a break.

Hire a lawyer, a accountant and a financial advisor. Make sure they are looking out for your best interest and not after themselves.

Spending $300K at the club is not a smart financial decision.

Stupid stupid stupid.
 
These guys are stupid. Plain and simple.
They don't know the word investment.

Also OP. Was it 300,000 or 300,00 as you typed it? There us a remarkable difference between these two numbers.
 
Fin Thirteen said:
I'm amazed this thread hasn't sparked off the obvious question to this league-wide problem. Shouldn't we be paying these guys much less? Shouldn't the NFL be charging much less for a game ticket and for merchandise? If the money's all getting blown up Jim Irsay's nose, Bryant McKinnie's stripper's nose, into Goodell's Cayman account and generally wasted by the majority of people who earn from the league, why don't we just pay everybody less??

It has become a money orgy that nobody seems to actually benefit from and empties the pockets of you and I.
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NFL owners are fortunate to own businesses that effectively print money. With good marketing, the game is bigger than ever. The public's demand for the game is insatiable and everyone associated with the game is effectively feeding at the trough. While it would be possible to charge less, everything is designed to generate more cash. These are 31 owners and they all want more.
Most owners are now billionaires and enjoy being able to dispense acts of generosity. But at the end of the day the NFL is a money making machine that is hard to stop.
 
spiketex said:
NFL owners are fortunate to own businesses that effectively print money. With good marketing, the game is bigger than ever. The public's demand for the game is insatiable and everyone associated with the game is effectively feeding at the trough. While it would be possible to charge less, everything is designed to generate more cash. These are 31 owners and they all want more.
Most owners are now billionaires and enjoy being able to dispense acts of generosity. But at the end of the day the NFL is a money making machine that is hard to stop.
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Basically.

If you yourself at the office personally made your company billions you would also be paid $20 million a year.

Tom Brady with a flick of the wrist makes Kraft and the Patriots billions over his life time by winning Super Bowls, Merch, Tickets, etc.....

When the Boss depends on 53 people to make him billions, each with be paid a nice sum.
 
You can live like a King for a year, or live like a Prince for a life time.



As for the thought of a nanny state being used for PROFESSIONAL men, is stupid to be kind about it.
 
spiketex said:
NFL owners are fortunate to own businesses that effectively print money. With good marketing, the game is bigger than ever. The public's demand for the game is insatiable and everyone associated with the game is effectively feeding at the trough. While it would be possible to charge less, everything is designed to generate more cash. These are 31 owners and they all want more.
Most owners are now billionaires and enjoy being able to dispense acts of generosity. But at the end of the day the NFL is a money making machine that is hard to stop.
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Well hard to lose much money when taxpayers are footing the bill for your stadiums .
 
"The NFL can make a man rich and it can make a man poor. In the case of offensive tackle Bryan McKinnie, the NFL has done both. McKinnie is in need of work because he has spent all of his money."

http://phinphanatic.com/2014/07/06/former-dolphins-bryant-mckinnie-money-problems/

Id love for them to explain how the NFL made him poor? Its noones fault but McKinneys. The NFL made him rich but he made himself poor.
 
A lot of these guys came from families that were so poor they hardly had two sticks to rub together. One would think they would never want to end up there again and would take the necessary measures to avoid it. Guess not.
 
dlockz said:
Well hard to lose much money when taxpayers are footing the bill for your stadiums .
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Local and state population have to approve the taxes.

This type of thing isn't limited to just NFL stadiums.
 
COphinphan89 said:
A lot of these guys came from families that were so poor they hardly had two sticks to rub together. One would think they would never want to end up there again and would take the necessary measures to avoid it. Guess not.
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I think the socio-economic status they grow up in is exactly why they're broke. The only people they saw living "like" millionaires when they were coming up were drug dealers. I don't know how many of you have witnessed this, but they live like it's their last day on Earth, because in most cases it will be. When these guys become rich, they live the same way. They need to have someone they trust giving them sound advice, if they're not too bright themselves (as most aren't). Since these people they trust want to live like Kings with them, and don't usually have much sense themselves, you have these statistics.
 
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