Wouldn't he just have gotten a couple 100k from the NBA for the escrow disbursement? It was basically an extra month's pay at the beginning of the lockout. Did he already blow through that too? And, if so, how would a Home Depot wage do anything at all for you? This is probably the time to call one of those hangers-on who have been leeching off of you and having them support you for awhile. He can probably go to bank and open a line of credit worth a year of Home Depot wages on the strength of his post-lockout salary. Or has he already demonstrated himself to be a deadbeat to the banks? I could understand an NBA player applying at Home Depot because he's bored and wants to stay busy, stretch his muscles and so on. But, not for the money. If you were Home Depot, would you hire him? I don't think I would. Short-timer, and probably not dependable.
It's harder to spend 7-8 million over a 7 year perioid than what the rest of us GET to spend over a 7 year period. Can't say i EVER feel sorry for players who have lost all their money due to stupidity, they were given an opportunity and they wasted it.
I feel what you're saying, but the more you make, the more your bills are. If you're making $50k a year, and i make 200k a year, and all the sudden I lose my job and tell you I'm in financial trouble, you'll probably be thinking I'm an idiot too. When you're used to having income, and one day it just stops, of course you'll be in trouble too. And yes, he knew this lockout was coming and never prepared for it, so he is to blame for that.
It's called living below your means and controlling your consumption habits. I would think you're an idiot if you were broke very soon after losing a $200k/yr job. Just because you make that much a year does not mean that you have to buy a mansion and luxury cars. You could live quite comfortably off of $100-150k a year and sock away $50k+ per year into savings and investments, for example. Obviously Delonte did not do this and he is an idiot for it. How did he expect to survive after he is gone from the NBA?
Maybe I used a bad example because Delonte doesn't have a wife and kids. When you're used to a certain income with your own family to support, and all the sudden your income stops, of course you'll be screwed. And yes, he knew ahead of time that his income would come to a stop, but everyone knows he's not the most stable person out there.
exactly right. doesn't matter how much you earn if you are spending it all rather than saving. here's a novel idea, spend your money on something that will MAKE money. here's a good test: ask your friends what they would do if they won $5M from the lotto. see how many say they would buy houses, give money to family, and go on vacations... then ask them once they've spent it all "how are you going to pay the living expenses like utilities, property taxes, food, etc...?" most people spend without considering the residual costs. no one ever thinks "i would buy an apartment building, so i always have an income."
I do. Life probably comes more easily to a smart person like me who nevertheless draws a pedestrian salary than it does for a dumb person with a lot of earning power. His dumbness is probably negatively impacting him in many facets of life, including his finances. Whereas I'm not so poor that it really hurts any aspect of my life. So, I feel sorry for him, because I'm a good deal better off.
I believe I've seen it broken down before (Kenny Smith, I think, did a good breakdown once) and it was definitely less than half. I see $14M and figure West took home about $6M of it. And then you immediately have the remoras and family members sucking up at least a third of it immediately. After all that, then these guys overleverage their earnings trying to fund an MTV cribs lifestyle. They just don't get that when the paychecks stop, the bills keep coming. The NBA should honestly mandate that agents provide an above board financial consultant and accountant to their clients. No shocker that West is one of the first guys to go south. It also amazes me that these guys can't make money opening/running basketball camps for rich kids.
My question is, if his 14M NBA salary couldn't last him a few months, how is he gonna survive with Home Depot's salary?
Correct me if I'm wrong, but I thought that he got paid the vet minimum by Boston. Still, give me a million, and I'll make it last more than a year. I don't care what my bills are
You people are horrible. The article clearly says he has battled bipolar disorder which would easily explain him not having money right now. It can very difficult to treat because without any support system, forgetting to take your medicine even a few times can cause manic and/or depressive episodes, and that is not even considering the numerous patients who develop dependency because the disease starts to be untreated.
