“Cut Down Your Entourage”: tips for NFL players in case of a lockout
Generally speaking the astronomical salaries paid to professional athletes don’t really bother me. Is it crazy that teachers get paid mere pennies and entertainers get paid millions of dollars? Absolutely. But we all like our entertainment and we are willing to pay for it. With that being said, I was blown away yesterday when I read two articles in USA Today about whether or not veteran players should pool money to help those who make less in case of a lockout, and tips for saving money in the NFL Players Association handbook.
I recognize that our lifestyles often increase with our salaries but we’re talking about men who in 2010 made a minimum of $325k for the year. This doesn’t take into consideration any other endorsements, compensation for appearances, etc.
Now I can’t argue with the fact that it would be very nice of the more “well to do” veterans to share the fruits of their labor with those who make less. That would be generous of them. However, are those making the league minimum squandering their hundreds of thousands of dollars to such a degree that they are truly strapped for cash? I suppose if they are, the tips in the NFLPA handbook would be beneficial. However as the article says…
…some of the advice hardly applies to the typical household: hold off on buying “motorized toys” and expensive jewelry and reduce the size of your entourage.
Among other suggestions to players:
- Save 25% of your annual pay.
- When going out, remember to “leave the club with your wallet and budget intact.” If socializing, do so “with a purpose,” such as dining out to network for the next phase of their lives after football.
- Say “no” or “not now” to money requests from family and friends, and don’t “pay friends to perform work that you can easily do.”
…I guess those suggestions aren’t so far fetched, I mean with the economy being what it is, I’ve had to cut down my entourage and I always make sure to “leave the club with [my] wallet and budget intact.” No more Patrón for everyone.
Bank image via savvypromo.com
Posted on March 9th, 2011 by David | No Comments »
