I was shocked when I saw that

That’s in addition to $7000 on eating out.

Dude is feeding an army. He must have so many people leeching off of him.

These diesel prices are out of control!!

7k on eating out ?????

Plus 7k eating out. Truly a life I could never imagine.

I bought a \(7 taco bell box instead of the \)9 one

Top shelf liquor is expensive

erewhon aint cheap

I can buy/grill or eat out steaks everyday and still my groceries are need going to reach 5K

It’s just numbers on a form. I didn’t click but my guess is he’s just trying to modify his support payments since there’s a material change in his income now that he lost the job

$170 in groceries a day is crazy

wine

Costco

Inflation? Amiright?

Premium cuts of beef, vintage wine, and 10 Ben and Jerry’s every night.

I wonder how much of this is expensive alcohol

\(10 butter, \)200 steaks, $3k whisky…

Weed is not cheap my guy

I mean to be fair, if you’re getting good quality food stuffs at like Whole Foods, it’s possible to spend like 140 dollars per day. Like a nice wild caught cut of fish, organic pasta, different veggies to grill, that can easily add up to 150+ a day if it’s top quality.

That’s a lot of dino nuggies

Erewhon for breakfast lunch and dinner

Crazy but we should also ask why his baby momma needs 50k a month to take care of a kid. Both parties need to reign it down lmao

How’s he supposed to live on only $198 million. That’s so little

but remember players have to pay agent fees and taxes so they don’t really take home $198 million, they’re practically just like us!

And he’s got a six figure pension to look forward to in his 60s.

So cut that in half and that’s his take home after tax and fees. He still mismanaged his money. If he has his money under a mattress he could’ve spent his $1.2mil a year for his entire life.

With a $90mil take home he should’ve grown that by tens of millions at minimum from just investments. So if this dude is broke that’s all on him

Yea but that before taxes, agent fees, strippers, etc.

It’s probably closer to 75-90 million cause of agent fees and taxes and such. Dude is a pauper

$600k per year in child/spousal support is still insane

I think his lawyers are putting out PR pieces to say he’s broke so the judge stays out of his bank account. Even $198 after agent fees and taxes is a TON of money to just blow on dumb shit. Players today don’t go broke on cars, houses, and bling. It’s usually divorces, child support, dumb investments, or trusted financial advisor stealing from them.

And that’s just nominal. E.g. in his 2008-2010 contract he made 37 million for 2 years, his highest annual average. League years start at July 1st, so I’m taking the start of the season season as a fair starting point for a simpler calculation.

From July 2009 to today, the S&P 500 has gained 720%. With dividends reinvested 1011%. That 37 million, put into an accumulating S&P500 ETF would be worth 420 million today. Of course that’s all before tax and league fees etc, so you end up with at best half, but all those crackhead former athletes could live an upper middle class life on dividends alone if they had just put a SINGLE monthly salary in the general market.

Same for the “we only got a million a year in the 80s” whiners. A 1980 million in the S&P 500 would be almost 50 million today, the general market and the salary cap grew essentially at a perfect 1:1 ratio the entire time. They just pissed it all away and don’t understand how compounding interest works.

Link to calculator used: https://ofdollarsanddata.com/sp500-calculator/ (there’s several, they all use the same data though)

Absolutely no sympathy for guys like that. Fuck him, and hope he goes broke.

You know, if 75% of that went to taxes and agents and management and everything else he’s only left with around $49 million

That’s not even $200 million. Basically poor.

Gee, if he would have just invested half of that in the S&P 500 he would be making at least $5 million a year in interest

The lack of financial literacy of folks is insane, dont pin all the blame on the players, but if they just had a rando tell this to incoming rookie classes that would avoid a significant amount of players going broke IMO

After taxes, strippers, house(s), cocaine, agent fees, hookers, travel, food, and chefs do you know how much that leaves you with?? It’s really not even that much

Off topic but it’s shocking how much contracts have ballooned. Holmgren is going to make more than that by the end of his current deal.

Plus, let say his average salary was 16 million around the 2008 period, that has a buying power of 25 million.

Dude wasted his money if he doesn’t have close to those amounts. What a waste.

He should ask KG for money.

In a decent savings account, that would pay 600,000 per month in interest.

Goes pretty fast after:

Agents, taxes, house payments, DIVORCE, and years of child/spousal support of 50k a month. Thats 600k a year.

I’m not saying he didn’t/doesnt mismanage his money but I could see how he could be “drowning” here. Just divorce could’ve wiped out half of his career earnings or more before even beginning the support payments.

But his expenses are ridiculous regardless. Just silly to be paying that much for food

🤦🏽‍♀️ that’s wild! I’m sure he’s full of regrets

Be more thoughtful. Don’t forget his agent takes 5%

jesus that’d be like $165k/month if invested at just 1% return

Regardless there should be a cap on that. Just because he created wealth for himself doesn’t mean he should be forced to spend relative to wealth on child support, and then he loses that income stream and it takes forever to get that changed. Lifelong alimony is ridiculous in these times, at most 12 months so the former spouse can get on their feet after they became accustomed to a lifestyle, sure, and after that they sink or swim on their own. Debtors prison was abolished like 150 years ago, but not for alimony.

Paul Pierce probably blew through that money anyway.

That’s only like $120 million after taxes.

You have to understand though, they pay taxes and are forced to buy expensive things so it’s really more like 5 million. Could you really live off that?

And ppl really expect him to survive on just that without having a 3rd or 4th job. Everyone pocket watching and not support the working class, disgusting…

I’m only 197.9999 million dollars away and somehow I’m here still

I just got out of a stressful work meeting with my supervisor and I needed this a bit.

Sorry for your loss.

Edit: I am and always was safe. The meeting means others might not

Unironically a really solid perspective on this

This is why the young guys need a Pringles advisor. It’s far too easy for those who grew up without a lot of Pringles to act Pringally irresponsibly after they get their first pallet and lose it all.

How did you manage to do this lmao

Asking for a friend

This right here, man. This is why I keep opening reddit

Just imagine if they had made tennis balls, as intended? Pringles is such a laid back company.

Fuck it, cut ‘em up.

imagine if they were cheddar and sour cream though

woulda lasted me a week

How does one accidentally order a pallet of anything?

There were only 2 times in my life so far i would even consider this: after getting my first student loan disbursement and getting my signing bonus for my first entry level job. I felt like an actual king.

Did they not go stale?

If you put it that way, damn…

This made me laugh historically, in a room by myself. Thanks for brightening my day lol

This is beautiful

You could always order another pallet. Paul Pierce unfortunately can’t.

I remember! We called you the Pringles baron!

Better than finding out the lifetime of free razors you won has ran out. At that point, your doom is imminent.

A powerful metaphor for the shortness of life. Don’t give your Pringles away to people who don’t appreciate you, fam.

I dunno. You went through a very awesome time and fell way low. Think about your future. You could buy another pallet of Pringle or choose to use your skills differently. Say, a pallet of cheetos or hell tuna or whatever.

You can get back to your awesome pallet ways again. Think inside the can or bag. I am cheering for ya ;) !!

Is this a copypasta because it should be

I wish I could like this comment more than once

And Sour Cream and Onion Pringles are like Money: You will never tire of having it.

awesome

Man, sour cream and onion pringles is the best. You lived life. Good on you.

You two are basically twins at this point, quick, what’s he thinking about right now???

I’d rather be flat broke like Pierce than have to experience what you went through

That sounds amazing

Thank you Jack Handey

My friend did that, but with a $200000 inheritance in the 2000s. It actually kinda fucked him up. But so did drugs and alcohol. Just went to his funeral last week

sour cream and onion pringles are a good choice. I like the BBQ as well but these are lovely

Damn, I freaking love sour cream chips. If this ever happens to me, it won’t be an accident

Should’ve planted some of those tubes and grew some trees, man.

During Covid I asked Instacart to buy my 12 bagels from Costco, and they got me 12 bags of bagels instead. Most of them went bad before we could finish them.

Yeah but the Pringles don’t make more Pringles while you’re not eating them

A modern tradegy

Once you pop man…

The problem is, pringles doesn’t print you more money like real money does. Active investments and passive index funds go a long way if you’re already rolling.

someone who is good at the economy please help me budget this. my family is dying

He also made almost $200m in career earnings

His whole budget is that dril “please someone help me budget this my family is dying” me except it’s 8 line items of $10K on candles

Pro athletes posting their budgets is always hilarious.

“I lose half to taxes.” Okay, taxes take a lot; I can relate to that.

“My agent takes 5%.” Makes sense. That’s not an expense I have, but I understand it for you.

“$15k/month for the personal chef for my cat.” Okay, you’ve lost me.

He does have a valid claim for a revision of the maintenance? (I’m assuming) spousal support and child support award with his change in income. Now his USD figures are fucky but I think it would definitely qualify for a huge reduction in many states.

Ya that 12k can feed a normal family for a whole year.

Hey now, he’s gotten accustomed to a certain standard of living.

Listen when it comes to takeout, all bets are off with spending wisely

\(5,000 per month in groceries plus \)7,000 on eating out is, first of all, crazy. If you’re drowning financially, maybe it’s time to just stick with the same wardrobe for a while. And the $3,500 on entertainment? Maybe just stay in the house for a while or do some free stuff until you get things sorted out.

So many of these guys are so irresponsible with their money. And then they make a statement like this, and want us to feel bad for them? Bro, if I had just $5M in my account, I could live comfortably and not even touch the original amount.

\(7k + \)1k does not equal $12k, but I get your point.

And $3.5k on entertainment.

Absolutely crazy for anyone to do anything but point and laugh at this fool

His monthly clothing budget exceeds mine for the year. This guy needs a reality check and to adapt to his new circumstances.

I legit don’t know how you can spend \(7k a month in eating out while also spending \)5k on groceries.

man just buy a pack of gildan white shirts and you’re set damn

Funny you say that.. dude came into the steakhouse I work at last year and ordered a bunch of skewers. Complained like three separate times that they were burnt, so we had to send him a bunch of free ones lol

I mean, we saw that video that got him fired. That $7000 on eating out is going to strippers, not Chipotle.

He’s strapped for IQ

“It’s a website where you can rent a girlfriend for a day…”

Being unable to expense his previous lifestyle… bootstraps

Dude made $200mil in his career I don’t feel sorry for him one bit

Cut out the avocado toast Paul!

11K on food and 1K on clothes.

My guy is eating A5 Wagyu and Yellowfin every night while wearing clothes from the Gap.

Luckily he has the NBA pension, $215k per/year.

Dude doesn’t have job. Why he paying 10k a month for someone to watch his kids?

He’s spending at least 10K or more on prostitutes. Literally taking his kid’s financial future and stuffing it in dirty used up pussy

A large chunk of that may be on credit. Hence the position he is in.

Plus 5k for groceries on top of 7k eating out.  Nope just another moron who can’t budget.

And he didn’t even list his gambling losses

He’s not. You have to appear broke so people dont come after you for more and more.

Figured he would’ve learned from Antoine.

A MONTH! A month…

Yea but school never taught these guys spending $150k per year on food and entertainment might not be a sustainable lifestyle. How could they ever know??

Latrell Spreewell vibes

Maybe he’s strapped for cash because he drops 12k on eating out and clothing.

Have you seen the patterns on his shirt though? They are so complicated!

How are you spending \(7,000 on eating out and then a further \)5,000 on groceries

Also rents girlfriends for a day.

Plus 5k in groceries..feeding a posse of 20 people i guess

He’s trying to lower his child support and alimony

He has 5 kids and 3 baby mommas.

Paul Pierce can fuck off. He’s got around $15Million in non-liquid assets.

Time to liquidate, baby. Time to grow tf up. Time to stop spending like…an NBA player.

50k per month is a lot, but 200M is 4,000 months of that. To not have 100M to 200M in investments at this point is crazy.

keep in mind these are court documents where he is listing his income. If he’s currently not making any money the court will use that to adjust child support and spousal support. Current income is treated differently than savings. Presumably if they’re divorced they have already split any saved income that they had and that’s not really relevant to support calculations.

You would have hoped that Antoine Walker’s financial disaster would have influenced him, but nope!

• all the support groups they’ve set up for nba vets to take care of their money, players that came before Paul that warned about this scenario. We’re all trying to catch the guy who did this

Which makes me excited for all the annoying streamers to be forced to work real jobs.

Doesn’t matter how much you earn, 50, 100k, million, 20 mil. People can always find away to spend more than they have.

He also has the NBA player pension plan which pays out \(800/mo per year of service x 19 year career = \)15,200 per month.

On top of that doesn’t the nba give a pension

Pierce is a fucking dumbass, you only have to listen to him talk about anything for 5 minutes to know it.

It’s quite ridiculous considering the vast majority of us are hoping to have a million when we’re done

Idk how teams don’t get them setup with financial advisors. He likely needs to sell real estate, pull back his cost of living and then find a new job

Food \(200Data \)150Rent \(800Candles \)3,600Utility $150someone who is good at the economy please help me budget this. my family is dying

How are you spending $5K on groceries if you’re eating out so much??

Dude made 200 million just off just career earnings. Let alone sponsorships and post retirement salary lmao

That’s more than quadruple my take home pay and I manage to survive

That’s probably why he tried to steal KG’s onion rings.

I made a small mistake and paid the rest of the year’s health insurance at one time. It made things a little tight for awhile. For lunch I bought a large sub sandwich at Safeway and chopped it into 3. That was \(12 for 3 lunches. Along with the snack boxes that are buy 2 get one, makes 3 lunches for about \)12. I got through to the next payday.

How much is a gallon of milk these days?? $55 maybe??

His support payments will bankrupt him in a few years if he doesn’t have investments. Considering how stupidly he spent money, he probably doesn’t. If he is living his life on credit cards, he will be scraping bottom sooner rather than later.

On top of blowing away 9 figures of career earnings

I looked up to him as a kid, I even wrote a report on him. Anyone who drives under the influence can go fuck themselves, idgaf if you’ve just discovered the cure to cancer.

He was also really bad at the job. Not insightful or interesting, just a clown.

Well, to be fair… his whole job was kinda to be a moron on TV.

I think we all know the RDJ quote from Tropic Thunder though. Tale as old as time.

i think it was stupid that he got fired. man was just having a good time. like fox sports is a classy outfit give me a fucking break. ps fuck boston.

He’s doing this entire thing to pay less in child support.

He put out a stupid video flaunting clapping back at people who think he’s broke so these stories now are him trying to garner proof of how “broke” he is

It’s incredibly rare that I ever have sympathy for ultra wealthy athletes that go broke.

Stop buying so many groceries and housing costs

Spot me a 5?

How much could one banana cost Michael?

Dad, you owe me $30.000 monthly child support!

Yeah I get it. I can donate a wheelchair if he needs one.

I’m not sure I’d love my uncle after the 4th time he showed up drunk off his ass with at least one escort but hey families are complicated no judgement here

Do we love Paul Pierce?

We???

Remember when he went on IG live with all those strippers?

If I’m a lawyer, I just show that video.

This is to just gain sympathy from the judge. He’ll claim he’s broke, do the “woe is me” bs and the judge will see right through it, but they agree that the amount alimony and/or child support is too high since he’s no longer an active player. It gets knocked down by 5-10k a month and PP will go back to business as usual getting girlfriends for the night.

The amount of money he owes on child support and alimony can probably be made on dividend payments on an index fund…

Assuming he has \(50 mil, if he put that into a dividend ETF that has, say, a 3% dividend yield, he would have ~\)130k cashflow monthly. At 25mil, it would be ~$65k.

I mean… if I made $200 milly in the NBA, I’d definitely be leaving the NBA with more money than I made.

Didn’t he have endorsements, too? Man. C’mon Paul, c’mon man.

Didn’t his wife already get a nice share during the divorce? “Their” income has now stopped, why should she continue to get paid while he doesn’t? (Child support can continue until court order says otherwise)

Generational money. Give me rhat and I make sure the next 10 gens are covered.

I’m sure he still has plenty of money, but his accountant prolly told him he has to cut his monthly expenses by 25% and everyone knows if you only spend 750 a month on clothes you are basically a bum.

These tick people always claim poor when they still have millions of dollars in assets. It is just that their lifestyle has decreased from the previous level which they then claim makes them broke. Usually they could downsize or cut spending and still be rich comparatively for the rest of their lives. You only need like 5 million dollars to make like 75,000 a year in investment income, but I am guessing Paul pierce would consider 75,000 a year basically poverty.

Id bet it’s temporary to lower his payments so he can them invest and keep it quiet so he doesn’t get his salary checked again

These type of things are done to try and get payments lowered. As child support is based on current income, and not net worth.

Google says he made 195M so those payments should be easy to manage. Where did all his money go? Like this isn’t even a one off thing because this issue is so common for pros.

he’s probably trying to lower his spousal/childcare payment or something. idk.

He has assets he could sell. He could then buy bonds off just that and make 119k+/month lol.

He can also break down film on youtube and make money that way too. Josh giddey does it

Yeah he could have easily put 10mil in a mutual fund over his career and would be getting 500k a year payouts. But I guess his ex wife could have taken half of that too if he did?

To be fair he got fired from FS1 because his coworker was found banging coworkers and bosses to get her position and the brass decided to just blow it all up when it got out.

Seriously, wtf. He lost his job and then did absolutely no financial adapting or adjusting? Go tell the court you have no incoming income, dummy!

This is laying the groundwork for that

That’s what the article says, he’s filing for modification of support.

He could have used a $40 Uber and kept his job.

I just want him off KG’s podcast. He brings down the energy so much.

Back when All The Smoke had a media partnership with Le Batard’s show Paul came on Dan’s show a couple times and I think the last time he was brushing his veneers during the segment

Maybe it was a bit but I have to imagine it was not and he was just being disrespectful

The pooping yourself on national TV doesn’t help either.

A big sign of childhood trauma is not being able to grow up

He did do that walk of shame when he got that prediction wrong…

if it’s consolation, i hated him well before i knew of any addicitions

You talking Shawn Kemp? Or maybe one of the “jail blazers?” (Although I figured the latter were more about the ganja than booze)

I still like him

He’d legit make bank on that. Imagine how many people with debilitating injuries and illnesses that could be helped by that

He could be a bidet spokeman.

Imagine how much more he’d spend on groceries if he wasn’t spending $7000/month on eating out.

While also spending more than 200 a day eating out.

Steak and lobsters adds up

Personal chef who also does the shopping

Actually, these days I think $5000 a month is pretty close.

There’s always money in the banana stand…

Another \(7k on restaurants? \)12k a month of food?

It’s funny because I get how someone can live a wasteful, lavish lifestyle and spend all their money eating out

But groceries??

Vince Young spent like $25k per week at the Cheesecake Factory

Lol he has to live like a normal person.

Gotta buy those bottles of top shelf alcohol somewhere.

How many kids? For three people, that works out to $54.79/day. That’s a lot, but not insane depending on the number of kids.

I’m guessing the \(5000 groceries, \)1000 clothes, $3500 entertainment, etc is just code for “shitloads in booze, drugs, women and sports betting” but he can’t exactly say that.

He probably doesn’t know what normal people spend on things like clothes or groceries so he’s just throwing out numbers to cover his gambling / party expenses.

Doordash and fine dining is expensive. Gotta keep your quality of life up. /s

He’s probably getting food delivery also. That can add up to around 40% of the bill

He likes extra cheese on his Whopper

Whats more absurd is he made 200mil and is now broke???

Clearly, he eats four cheese pizza.

Maybe he doesn’t know the word, just like the orange Clown in the WH.

I have zero sympathy for a dude who was making 120k a MONTH at his previous job and now claims to be broke. That sounds like a you problem brudda

TFW, as usual, Redditors have exactly 0 idea of the legal framework behind child and spousal support payments. (I say this as a 41 year old man who has previously been divorced, and has had to pay spousal support in the past.)

Gotta eat that gold

He will also have to stop eating avocado toast.

Only the boomers who support the Orangeman.

He looks and talks like an alcoholic I bet that his groceries are mostly booze.

Nose groceries

not just apples my friend.

bananas too

He throws away all his groceries every night and buys fresh ones every morning.

He only eats fresh bc his body’s a temple.

Erewhon is a crazy place.

He buys an entire grocery store every week, clearly.

\(7000 eating out, \)1000 on clothes and \(3500 on entertainment are all crazy to me if the guy literally has zero income. And yeah \)5000 on groceries? I hate myself if shop while hungry and spend more than $100 lol. This guy can kick rocks

What could a banana cost… $10?

\(4k on booze and \)1k on steak.

That’s like 100 pounds of Wagyu

He’s not feeding a family of 4, he’s most likely having friends, acquaintances and family come over all the time consuming these items.

Alcohol

All the staff he employs at his house eats groceries that he has to buy for them.

I assume at least childcare staff… Because 10k a month in childcare on top of 30k a month for child support… Feels like more than 1 maid…

Shit used to be free (sighs)

Groceries get up there. Not 5k up there, but if you’re rich and shopping for extra marked up brand shit then maybe idk

It’s the \(1000 on clothes that's crazy to me. \)1k is like 1 luxury branded shirt these days.

I once dated a woman that loved her organic groceries. Every trip to Sprouts was like $250.

$5k groceries to his mansion slaves (maids, driver, chef, gardener, etc)

Have you been to Whole Foods? The prices are astronomical LOL

It’s booze

That’s what I’m wondering. Like even if you are feeding an entire family, I can’t imagine spending \(5,000 a month on groceries. Eating out I can see if you are eating at upscale restaurants as \)7,000/30 = $233 per day which is very possible. Even if you are only eating out 1 or 2 times a week, you can easily spend that if you are not just going to upscale restaurants, but paying for others and expensive alcohol.

People usually inflate their spending when they’re trying to get their court ordered payments reduced.

When my ex tried getting child support, I had to fill out an income and spending form with the court.

It’s basically a court document that has lines for things like Income, Rent, Grocies, Utilities, Transportation costs; and a few others.

It sounds like he possibly filled out a form like that and filed it with the court, it’s well known TMZ has sources in courthouses in LA.

TLDR: TMZ probably obtained a court document Paul filed to get his child support and alimony reduced m

7k a month eating out sounds outrageous

that’s either like 7 insane bills or dozens of crazy ones

you’d pay less having a personal chef daily probably

especially when he’s paying 5k a month on groceries, like how much is this dude wasting lol

It happens if there are more than 10 people leeching you off.

His personal chef fees are included?

Not hard if you have a large family. He doesn’t seem to have a large family at home now, though, so I’m not sure.

Apples and shit.

Isn’t this whole article explaining that he doesn’t have the money?

If you ate out every night for 30 days that 7k is $233 a meal.. plus you are buying over 1k in groceries a week in top of that.

Is he on a diet of that consists exclusively of endangered animals or something?

Wagyu ain’t cheap

Groceries? That’s a bit of an old fashion word isn’t it?

its fking sad that people think he’s completely just spending $5,000 on groceries for just himself LOl. Man probably just gives his card to someone to grocery shop and probably feeds his fam + more people and he doesnt check it, which I don’t blame him for. Wanting to check if your close ones are taking advantage of you or not is terrible for the mental.

During covid I was spending about 3 to 4k for just myself. Most of it was quality protein as I was training entirely at home. So around 32 to 48 Oz of fresh swordfish, halibut or mawi. Chicken if I wanted something different so those days were cheaper. But yea, real easy to hit 100+ dollars a day and I don’t drink alcohol.

Hey that’s only 100 million after taxes and agent fees!

Seriously. 0 sympathy here. With smart investments he should have hundreds of millions. Like how do you fumble this?

Diapers?

Probably a lotta hookers

Bunch of 304’s forsure lmao

He probably has plenty of money tied up somewhere else and is just trying to get the child and spousal support down.

This is a pretty common tactic. He just doesn’t want to liquidate any assets.

And most likely will soon draw his nba pension. If not already ??

Next you’re going to say $3,500 a month is too much for entertainment and that would be downright nutty.

Then how do you survive?!

food price is crazy these days

That’s why you’re not drowning financially lol.

Also that $12,000 /month is probably his restaurant/bar tabs.

You don’t have a private chef? Broke bitch!

That’s what mostly this is. He pumped up the numbers to make it look like he’s struggling. I mean you have to show you’re spending the money, can use his entourage/security as an excuse.

Almost like a lawyer drew up the numbers for him to throw into the wind to show the “struggles”. If he didn’t want the hassle of alimony or child support, don’t marry and wrap that shit up my guy.

I swear these idiots never learn, Anthony Edward’s is gonna be the poster child once he retries. Be Kemp 2.0.

It is and its not. Its often criminal mismanagement and overspending. I’ve seen guys throw away literally millions even as they know their career is ending and they have nothing else. I’ve seen former nba stars working for $15 an hour because they have nothing else (or being “trainers”).

I had this one kid who got a one year min contract. Total payout in his pocket was like $550k. Not a bad payout, he could have gone a long way if he used it properly because he knew he wasn’t going to stick in the league. Instead, he bought 8 teslas and then got traded to the clippers.

Source: Am a child support lawyer, have handled several cases with NBA players.

The first thing that came to mind was that he was trying to get that 50k a month number down

Ding, ding, ding.

It could be terrible mismanagement of his funds, but this sounds like lawyers posturing to reduce child support payments. Doubt the judge is going to be sympathetic when reviewing these numbers.

but the crazy thing is hes not even talking about what happened and where the money he earned. He just said he lost his 119K/month job at FOX Sports so he doesnt have the income to support his montly payments. Sounds like a ploy to me

Dropping 50mil in a basic ass savings account that any poor schmuck can get (3% interest, he’d get a way better rate than that) would more than cover all the expenses listed in this article.

And the article says he was making 120k/month as an “analyst”. No sympathy for this nonsense lol

He could do an advertisement and make more money than I’ll make in ten years.

Especially these days where all professional sports leagues have tons of resources to help everyone be smart with their money. Nobody is going to feel bad for the rich guy who made a series of poor decisions over many decades. Like you had 1000 opportunities to not be a moron but chose to be a moron every single time.

Totally. My husband made something like 5% of that in his playing career, and he has never had to work a day in his life after he retired at 35 and that was 15 yrs ago! Because he didn’t buy a dozen cars, and have 6 diff residences or a bunch of kids.

My husband had all the pressures these guys had to provide for other people and he made sure to never over extend himself or be outrageous with superficial purchases

No need to wish ill upon him

He and his buddies will make excuses that no one ever taught them this and they constantly feel the pressure to provide for/keep up with others, that it’s hard to say no.

Legitimately fuck them all with an unlubed dildo.

Well I wouldn’t hope he winds up in the poor house. That’s a poor thing to wish/hope on others.

But yea, there’s zero sympathy when you’ve made that much money. That should be generational wealth where you can live a rich/famous lifestyle just on the interest. And that is despite the $600k/year in the spousal and child support. This dude got addicted to spending and now he’s hurting from his poor choices.

Correct and if OPs facts are accurate he is spending \(1.2mm per year. That's only a 2% annual withdrawal on \)60mm. Not factoring in taxes, but the $60mm doesn’t include decades of growth!

He’s only saying he’s drowning because he has to tap into savings

Well you do have to account for taxes. Not like he had 195 cash in hand, thats maybe 100 after taxes. if he pissed through 70% of it, that’s more like 30 million. Now add this manager fee, this lawyer fee, this agent fee, this accountant fee, this advisor fee, nba dues, etc. Maybe 15-20 mil? Not saying that’s not a lot still lol

You’re missing some taxes, still a lot of money though

Agent fees and taxes take the \(195M to probably \)100M. So he’s left with $30m using your 70%, still a fuck ton of money. This dude should not be broke

Just to be a pedantic nit-picker, his pre-tax earnings were 195 million. Post taxes and agent feed he likely walked away with about 80-90 million. But yeah, fuck him, dude is a moron. I’d be comfortably set for life on 5% of that sum.

30k a month in child support is fucking stupid

This is what I was thinking. Not accounting for endorsements which had to yield him additional millions. All he had to do was invest properly and he’d be able to have money and live off investment income. Many if these guys try to live like they income is still there and blow through their millions. The same It appears he has no investment income of any kind. He has 3M in property which is probably a house in California 300k in the bank. Just crazy to go from grossing 195M to only having a net worth of 3.3M Instead of becoming a professional he screwed his post playing career up with scandals.

It’s possible he put a lot of that money into investments and stocks so he isn’t willing to cash in on living expenses but this is me being optimistic.

damn who hurt you

He’s probably lying and hiding his money

It was probably 110 - 120 million after taxes. Doesn’t really change the fact that he was seemingly irresponsible with the earnings, but taxes take a huge chunk at that earnings level.

All those earnings were under his Aunties name 😉

Honestly, I do think the PA should meet with players every year to make sure they are prepared to live after retirement. All of them, from LeBron to a rookie that will be just a couple of years in the league.

Why do you hope he ends up in the poor house? Will that make you feel better about your own life?

Not only do you not have sympathy you’re rooting for his financial ruin. Quite evil to wish for the worst of another human wouldn’t you say?

It’s important to note that he’s only listing his income and bills, presumably to get his monthly support payments lowered. There’s nothing listed here about assets or savings so he very well could still have millions stashed away.

Hoping another man suffers is some weak ass shit…

“  No part of me will ever feel a shred of sympathy for these idiots being financially irresponsible…..I hope he winds up in the poor house.”

There’s a big gap between not feeling sympathy and actually hoping he becomes poor.

Lmao he’s not broke - he’s trying to pay his Ex less after the dumb video he put out

You have to remember that $195 number is effectively cut in  half due to taxes and agents fees etc. still a metric ____ton of money but it should at least be noted that is the Gross number not the Net

Taxes

He ain’t never going to poor the way you think he is

He was getting paid a million a year for the Fox News job too…idk what he did but 100+k month is nutty

It’s just a scheme to get out of paying child support.  Like claiming he spends $12k/mo on food

Yeah but after taxes it’s not really that much money

You realize this is about child support and paying money for spousal support, right? He’s not poor lmao.

Do you think anyone wants to pay 50k/mo? It doesn’t cost that much for anyone to raise a child.

Strippers and sex workers nonstop can burn through that stack

He mustve had a bad agent, who was his agent

Maybe limit his trees, sauce, and rent 1 day GFs? Yes he doesn’t generate the easy revenue to be baller.

Your math is all off. Sam takes half so that’s \(100 million to start. Sports agents, attorneys and private trainers probably take another 20 percent leaving \)80 million before he spends a single penny. Now add private jets as his tall frame isn’t flying coach. Women, cars n lifestyle expenses. Now the $600k per year for support, add in extreme housing and you’re cutting close. Now add friends n family. It probably never stops. It’s easy to be critical but, these players are usually not rocket scientists with their money and likely associate themselves with leeches. In hindsight, it look obvious but when you’re 22 years old, it’s not.

Half goes to taxes my friend and another 5% to agent and management fees

Imagine being the kind of person who hopes someone winds up poor. Sheesh, y’all.

He set up a gofundme account, I gave him $5 bucks, I can skip a meal to help out a fellow person in need

You “hope he ends up in a poor house”? What a pathetic thing to say.

They are only human, if you want to not think about money, there isn’t really a wealth level for that.

195 millions before tax.

If he spends 50k a month on bills with little coming in, then his money will run out fast!!!

Couple that with an additional 50k in spousal support then its no wonder he is going broke.

His lifestyle ain’t cheap plus hes got bitches and friends

Cocaine is why. never trust high energy people wearing sunglasses indoors

I think it’s a mindset issue and they want to spend all the money they get so they buy a lot of stupid things and don’t really invest it well.

I feel like the LeBron generation and guys after that have been better at managing their money

Well he wont be paying this shit if he’s not borderline(lower end) stupid in the first place.

Just look at his expenses.

Im guessing theres a very real chance he does have money stashed and he’s trying to get out of those absurd child support payments. Which is the reason any of this is coming out

Pierce always loved partying.

I’m sure the court can adjust the payments. It isn’t like he will ever get basketball player level money again.

Look at his spending habits which he describes as “bills”. Dude is an actual dumbass. 12k a month on food? 1k a month on clothes?

Gotta inflate your lifestyle! Cant drive to the games in a Corolla, gotta own a Ferrari

Where is the 200k number coming from? He claims he’s spending 100k / month between his court ordered payments and bills. Thats $1.2 million per year. Still a small fraction of his lifetime earnings though.

” Wanna read my bank statements got no problem with that/2 hundred thou you know I’m smarter than that/ I’ve dodging the alphabet boys all my life/ you’re going to need more than a child support lawyer” - Jeezy and Paul Pierce now lol. These rich guys with millions that hate their ex or baby moms always underreport and the thing is it’s ONLY about current income not past

A lot of them do, more of them don’t. Financial literacy should be mandatory before you sign your NBA contract.

You can’t put stock in strippers.

He did. He’s not broke. He just doesn’t have a job right now, so no money is coming in. He also doesn’t want to use his savings.

It comes down to investments. Just as much as gambling your future.

James harden with the body armor pick up is one. Even KD with that ai company that Nvidia bought.

There’s just not enough big hit investment news. Def sure there’s bad investments all around.

Yeah this moron needs that Iversen Reebok deal where they pay him $800,000 a year for life

Iversen fired the lawyer who got him that deal so he’s probably available

Watch the ESPN Documentary “Broke”.

most athletes are dumb human beings

Are you considering taxes paid on the salaries he got as a player ? 40 million is really like 20 m after everything is said and done

That’s the legal money he’s showing he probably pay near 1 million non traceable money on sex and drugs.

His  Entourage

\(200,000,000 in earning doesn’t translate to \)200,000,000 into your bank account. Remove 40% just on government taxes. $80,000,000 gone. Then you’ve got all other fees such as agent, security, business agent, multiple accountants (yes, in this day and age), financial manager, maintenance, housekeeping (depending on how many houses and cars), maintenance. That could be yearly occurrences on repeat.

Like seriously every contract you hear you should just 2/3rds it and that’s the real amount the player really earns.

The economy depends on young men who can’t stash their cash, so he did exactly what the system told him to do. The problem is, he’s pushing 50 and that kind of lifestyle is unsustainable for an NBA retiree.

1.2M a year is simply way too high* even on that 200m. Taxes and agents fees took away 40-50% of that, and the dude who’s spending 1.2M a year with prostitutes and $50K in child support obviously made some horrible decisions in life and didn’t save much of that 200m that would be left.

You can always out spend what you make, especially if you stop making money, which in the case of athletes, often happens if they didn’t develop a business sense.

It is so easy for that kind of money to make a lot more money. MacKenzie Scott got \(36B when she divorced Jeff Bezos. She has given away \)26B of it and still has $30B left.

What endorsements respectfully. I don’t ever remember a Paul Pierce sneaker let alone a commercial.

Hey you act like we’re all not spending $1000 on clothes every month. /s

Doesn’t even have to stop eating out lmao, just stop going to Michelin Star restaurants every day and he’d probably be ok

after \(5000/mo in groceries? Single dude shouldn't be spending \)500/mo on groceries.

Imo this is his attempt to force a court case to reduce child support, by pretending he can’t afford it anymore. It’s certainly possible he’s out of money but I’ve seen this with other nba players before too

He loses his 304s if he starts to budget. He gets SA charges if he budgets the 304 lifestyle while he gets his fun time with them

He should have plenty of clothes already

We’re talking about someone who shit himself on the court. Of course he’s stupid.

Maybe he’s wearing his groceries.

They probably get clothes provided by the studio . Who knows what he shows up in lol

Should read an old SI article where Andre Risen went broke, one day he looked around his house and realized he was supporting 15 people… plus his marriage to One eye Lopez too.