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I've always wondered how pro athletes in their weird economy deal with this issue. With salary caps, max contracts and scarcity there are all sorts of constrain

I've always wondered how pro athletes in their weird economy deal with this issue. With salary caps, max contracts and scarcity there are all sorts of constraints that change from year to year, and a superstar on a max contract signed a few years ago can be making less than a merely good player who just signed a contract. (One of the rare cases where one's actually voiced displeasure: http://www.sportingnews.com/nba/story/2015-07-14/john-wall-mystified-hes-now-getting-paid-the-same-as-reggie-jackson http://www.sportingnews.com/nba/story/2015-07-14/john-wall-m... )

ArkyBeagle 11y ago
I expect many simply do not. It's a lot of work having money. Athletes don't have a whole lot of control over their time. There is a Ken Burns film about Mark Twain, who went broke trying to fund a printing process ahead of its time in the manner of a bad gambler. It's heartbreaking. Bob Wills went broke on a failed entertainment venture, but made it good at considerable personal cost. "Life entails a parcel of risk" - Mr. Merriwether, "Little Big Man".
plonh 11y ago
They make a lifetime supply of money each year, and plenty from non-league sources (endorsements, etc). Their energy is better spent learning how to manage the money they have, than fighting over who gets paid more of it.
- jkestner 11y ago
  I agree with you. But these are serious competitors and they have egos, so I'm surprised it doesn't come up more. You do see some of the guys at the low-medium end of the pay scale really happy to get to a level where they can provide security for their family, taking into account how short their careers are.
VikingCoder 11y ago
"According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress."

ArkyBeagle 11y ago

I expect many simply do not. It's a lot of work having money. Athletes don't have a whole lot of control over their time. There is a Ken Burns film about Mark Twain, who went broke trying to fund a printing process ahead of its time in the manner of a bad gambler. It's heartbreaking. Bob Wills went broke on a failed entertainment venture, but made it good at considerable personal cost. "Life entails a parcel of risk" - Mr. Merriwether, "Little Big Man".

plonh 11y ago

They make a lifetime supply of money each year, and plenty from non-league sources (endorsements, etc). Their energy is better spent learning how to manage the money they have, than fighting over who gets paid more of it.

jkestner 11y ago
I agree with you. But these are serious competitors and they have egos, so I'm surprised it doesn't come up more. You do see some of the guys at the low-medium end of the pay scale really happy to get to a level where they can provide security for their family, taking into account how short their careers are.

VikingCoder 11y ago

"According to a 2009 Sports Illustrated article, 60 percent of former NBA players are broke within five years of retirement. By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress."