Why are American sportsman so dumb with money?
>According to a 2009 Sports Illustrated article, 78% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association players go bankrupt within five years after leaving their sport."
en.wikipedia.org
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They come from poverty and never learn or absorb the necessary knowledge to be successful financially.
Look at someone like David Robinson of the Spurs who was raised right and educated properly and is now a multimillionaire who owns an equity firm.
They're nignogs who have planned on being millionaire sports stars since about 9th grade.
Meaning they are nignogs with a middle school education that just got a few million dollars to feed the rest of the niglets in their posse
It's not unique to American athletes.
>Research by Xpro—a charity for former players—claims that three out of every five Premier League players declare bankruptcy after retirement.
bleacherreport.com
Probably because most football players have short careers and don't actually make that much money
Imagine growing up in the hood and never having anything and then suddenly signing a multi-million dollar contract. The temptation would be to buy nice cars and nice houses. You've never had money before, so you do not understand how to manage your finances. It would be a drastic lifestyle change. I imagine any human could make mistakes in that situation, not just Americans. Although I can't deny our aggressively capitalist society plays an influence. Americans are encouraged to spend money everywhere they look.
I like to think that, if I were a highly paid athlete, I would put the majority of my first big contract in an inaccessible bank account. I do not want to see that money until after I retire. I'm the kind of guy who would party every week and crash my Lamborghini lulz.
Because the NFL pays its non-star players the worst of the major sports for the kind of hits they take. Most have few skills outside of being able to play football well, so when their short careers end abruptly they don't snowball their fortunes.
The average NFL player is out the league after his rookie contract.
Assumedly, they get a lot of money in their first deal, think that they're going to make that money forever and plan their purchases and life accordingly, and then they get dropped from the team and can't catch on on other teams.
When you grow up with holes in your zappa toes you be celebrating the minute you be havin dough
This is the right answer. You're a middle-class white dude, though, statistically speaking, so you're taught thus. A lot of these players aren't, and are taken advantage of. Many even skip a college education just so they can get money immediately.
Not a sports example, but the cautionary tale of MC Hammer applies here. Do not listen to the Evil Capitalist Overlords.
>No financial knowledge beyond a 6th grade level
>Spend money on stupid shit contuniuosly
>Every asswipe from your community forms a line outside your house and asks for a handout
>targeted by golddiggers who see easy money
>targeted by white collar criminals who see easy prey
>don't know how to budget during the offseason when there is no play (football is about 6 months of nothing)
>don't secure any additional revenue sources aside from advertising
>don't understand the concept of interest payments
>child support and alimony
>since face value is everything with new money rich people, constantly trying to one up each other
A life of no restraint doesn't change with an influx of cash
They're black. Hockey players are far less failure prone
It's not specific to NFL players. Around 2/3 of NBA players are broke 7 years after their retirement, and NBA is the league with the highest salaries in the world.
It's just as the other say in this thread: those guy are mentally 10 years old children with no culture or intelligence, in the bodies of monster beasts. THey can't manage anything and have absolutely no clue about how they're spending their money.
Of course, all their environment is making things worse, as their ghetto culture will make them spending insane amounts of $ to "help" the cousin of a "friend" who has been presented by another childhood "friend" from da hood. Add to that the culture of "show-offing" and it makes things even worse.
Typically, after winning the NBA title last year, Kyrie Irving - an unironical flat-earth believer - spent 1 week partying on a yacht with a bunch of luxury whores in a spending frenzy. You cna be pretty sure that the guy will be broke a few years after retiring, this is not the kind of behaviour and intelligence that makes one successful at managing money.
If you want other examples:
-Gilbert Arenas (111 millions $ in his career) is now broke, his expenses included stuff like having a personnal shark tank and 2000 pairs of shoes
-Jason Caffey earned 34 millions, he's broke from having to pay child-support for 10 children he had with 8 different women
-Allen Iverson, 160 millions $ career, is now broke for supporting a 50-people posse, gambling addiction and alcohol troubles
-Scottie Pippen, 120 millions $ career, is now broke because of stuff like buying a fucking jet plane that didn't even work, and spending 1 million more to repair it, amongst many other things
-Antoine Walker, 110 millions $ career, had a luxury cars collection, supported a 70 people entourage, and had gambling addiction
>gilbert arenas
>jason caffey
>allen iverson
>scottie pippen
>antoine walker
wow it's almost like there's a commonality between these athletes
>dumbasses being dumb with money
>it's capitalism's fault
niggas too loyal
>state sponsored education doesnt educate
>the state is not responsible
Its brazil dude. Their opinion on government is worthless
High test is correlated with narcissism. Most of these guys buy tons of expensive shit to show off how rich they are.
>state
>being fully responsible for anything
Here's your reply, Ahmed.
When you come from the hood or trailer park poor as fuck, and you go though college(athletic scholarship money), then hit the pros and suddenly you're getting millions thrown at you, you're not going to handle that properly, at least for the majority of these players.
The fact that you think the government shouldnt have any responsibility over its actions of subjects demonstrates why your country is a landfill
Alimony and child support.