Yup, owners wanted a lower barrier to entry for competing playoffs (additional revenue) and a way to depreciate contracts for the players

Dan Gilbert has consistently spent money for the Cavs as well

Both takes are pretty on the money. Not a guy I expect to listen to and agree with, but perhaps that’s on me

That’s literally what he said in the post lol. He said that whoever was negotiating was getting circles ran around them

They are getting more than that. Has beens like Bradley Beal, Dame Lillard, Jimmy Butler, Anthony Davis, and 5-10 other lucky players are clogging up gigantic portions of the overall 50% player pool.

They had 49% of the revenue before. Geniuses agreed to the aprons for a +1% share.

Not necessarily. More of like investor/AI evangelist talk lol

It kills me too see stories of athletes getting swindled because they had some uncle or friend of a friend manage their money.

FFS have Schwab handle your money or something. They will not steal from you.

Six figures meaningless to a startup? Tell that to Shark Tank.

Once your standard of living rises, it is incredibly hard to lower it voluntarily. That few million would meet the same fate as all the rest before it

A lot of it is lump sum versus salary philosophy. If you get 40 million at the start of the year, lose half that to taxes/agent fees whatever and whatnot, its easier to put aside say 5 million of that up front. But instead a guy making 40 a year is getting 24 1.6 million checks, and has his two homes on crazy mortgage paymnets + financing on the cars and whatnot. You have to actively budget a lot more than someone who say won the lottery.

It’s still dumb, but if I was in my early 20s on that kind of pay structure I could see how things could get out of hand.

He married a dentist and bought a winery, just sayin’. 

Man modern social media is nuts. Someone took a 14 second clip from a 47 minute video interview from a year ago, shared it a few days ago, it spread out of context, and another famous player responds out of context, then that goes viral, leading to who knows how many people to walk away with the completely wrong idea about the conversation.

The dude was asked how he spent his first million \(, which he answered honestly. Then he broke down his frugal habits, history of budgeting tightly before becoming a player, and fear of losing it all based on all the stories he heard. Then he proceeded to offer advice on how players can secure their \) and remain stable.

If CJ sees this, he must be rolling his eyes so hard. Like you cannot predict or control how these random internet reputation hits will play out years later. It’s wild.

Actually basketball in the past 15 years has become a rich man sport, not that many rags to riches stories around anymore

Like rappers. They love the background for the wholesome or tuff appearance and stories, but basically forget about it and actively start to have rich brain rot. Look at Jay Z, what a POS.

That was true 30 years ago now they’re all second generation athletes born to college-educated parents

Actually I’d say a majority of NBA players come from upper middle/upper class families. Most are also college educated. It’s extremely rare that you’re poor and able to join to NBA unless you’re a freak of a nature and scouted since middle school.

Another victim of venture capitalprivate equity squeezing us all dry.

Especially for a non guaranteed chance. Maybe I’m jaded

Imagine getting paid to post something on Instagram? The horror!

Culver’s 🤤

Thank your state. What kinda bum ass state was rocking 7.25 min 5 years ago😭 (Republican State obviously)

I remember working in a kitchen at a popular neighborhood pub where the servers would come back and complain about Saturday being kind of slow they’d only made like \(150 so far...if we worked 7 hours, we made about \)50 that day before taxes in a room that was usually hovering around 110• with no open windows.

And THEN they’d throw a puppy dog face and ask for some of our Jameson to take the edge off and make their day a little easier.

“These beans are \(1 but taste kind of like shit. The other ones are \)1.49, but is that cost effective for me…”

Yep he never played in the league after that!

Nah he only got minimum offers after that. It was so humiliating, he retired.

If he swallowed it and chose to sign with a team that year, NBA history would have been different.

Cuz imagine any contender in the NBA adding a 2 way athletic demon who could shoot and make the right play.

For reference, that’s like adding 2024 Jimmy Butler on a minimum contract.

That 7th Ferrari ain’t gonna pay for itself!

Reminds me of a dude I grew up with that was close friend for a while. Homie could school anyone on a math test, had a full ride scholarship to pretty much any college, and was/is a brilliant guy. I taught this dude how to cook packeged ramen using boiling water from a pot on the stove when this mf 19. Blew his mind. Some people can be very intelligent in some areas, some are amazing when it comes to street smarts, but that doesn’t necessarily mean they’re gifted in all areas.

Yeah I think this is more about being in tune with the common man that being smart. Doesn’t take a genius to know saying “Actually half of my $50m annual income is eaten by taxes and agent fees” to an audience making 0.1% of that is some wildly out of touch shit.

I respect him a lot for maintaining that contact with reality despite making $20m/yr himself but it doesn’t make him smart.

The US has a byzantine tax system for a reason and it ain’t for you and me

You are correct, but it is ultimately part of the same systemic problem. There is too much money focused at the top.

Clear debts, then once your credit score rebounds from being hit by all those closed accounts, you find the best financial advisor/investor you can and give him like 10 million or so and tell them to grow it conservatively over time. You’ll make so much money just with that. Then, buy a large lot of land and build a home. Really nice but nothing particularly lavish. Quality over size in my opinion. 3-4 bedroom, 2+ bath, basement and garage. Maybe a pool/deck.

Now after doing all that, you’d probably still have roughly 5-7 million of the initial 20 million depending on how much land and how big a house you buy. Say 12 mil to a financial guy and then 1-2 million on the property + home.

Deck that home out and buy a car to drive every day and your “rich person” car that goes vroom vroom and you still have money left to put into accounts for your kids or something.

Then you still have your invested money making you like 600k+ a year (and remember that’s conservative) so thats what you live off of. Most of your things are already paid for, 600k a yesr is way more than enough to live on. You are set for life and if you had a multi year contract for 20mil a year, that was just the first year of your deal.

These dudes are dumb.