http://hangtime.blogs.nba.com/2010/07/13/patterson-pinching-his-benjamins/ By Drew Packham LAS VEGAS – It’s refreshing to hear a rookie talk about saving money. Complete Summer League coverage on NBA.comBut listening to Rockets rookie Patrick Patterson talk Tuesday in Las Vegas, let’s just say I’ll be surprised if he goes the ways of Antoine Walker and so many other riches-to-rags NBA players. Patterson explained about a recent trip to a Gucci store in which he had an item he just had to have. But instead of just plopping down the plastic, Patterson made a phone call — to his financial advisor. “It’s just about being smart,” said Patterson, who reached a deal with the Rockets on Tuesday that is guaranteed to pay him about $3.1 million in the first two seasons with options for the following two seasons. Smart kid. -------------- neat info about our kid Patterson.
I know that you can buy Gucci and not go broke, but it's funny that a trip to the Gucci store is an example of fiscal responsibility in the NBA. :grin:
Patterson has all the tools. He's got an NBA physique, he's got the skills, and he's got teammates like Shane to help guide him through his rookie year. Does any rookie have a better chance at having a solid career? Some might have more talent, but do they have Patterson's work ethic and attitude? I'm starting to believe that Morey wasn't exaggerating when he said they didn't expect this guy to fall so low in the draft.
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I'd hate to be this guy's financial advisor. I'd have to field calls every time he goes to the grocery store. Being smart with your money is one thing, but you shouldn't need to call for advice from the Gucci store; you should know already. But, I'll cut him some slack. He's new to this money -- in fact, he hasn't been paid yet! This Patterson love is premature. It reminds me of when we drafted Dorsey (who was also supposed to be very NBA-ready) and some people thought he made Hayes obsolete. Even if Patterson will be successful, it's going to take him some time. Morey said it'll be hard for him to get time on the court with all our other 4s. So, I'm sticking with Hill and, more importantly, Scola until Patterson proves something.
I think Patterson will have a better career than Hill. Just based on my perception of their respective professionalism and attitude.
If I was his financial advisor I would tell him to act as if his current contract was going to be his total lifetime earnings. That is 6 million but with taxes more like 3. 3 over 40 years is 75K per year assuming smart investing that at least keeps up with inflation. A shopping spree at the Gucci store is a splurge that should be limited.
I personally disagree with you. Gucci is an expensive store and it does not hurt to consult your financial advisor. This shows that he has restraint and maturity. A typical young one who hits it big would normally just swipe the card and go chaching. Also, like you said, he has not even been paid yet, of course it would be a good idea to call your advisor to plan out how this big purchase will affect his future short term settings. There is a huge difference between the love and enthusiasm between Dorsey and Patterson; Patterson is smart, mature, and talented while Dorsey was dumb, arrogant, and couldn't shoot for ****. Patterson is more NBA ready than Dorsey proved to be after all his time in the NBA.
If we had an old vet like Juwan still on the team, he could have advised Patterson how to get them shades for FREE!
