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Around SBN: The Most Dangerous Division in Sports

SI Explains Why Athletes Go Broke (But Lenny Dykstra & Chance Mock Will Save Them)

Newsflash: many athletes are sheltered, not particularly bright, prone to wild speculation, have no financial acumen, and are easily manipulated.

So they're basically like the average American, but with superior vertical leaps.

At least that's what Sports Illustrated contends in How (and Why) Athletes Go Broke

Consider:

By the time they have been retired for two years, 78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce.

• Within five years of retirement, an estimated 60% of former NBA players are broke.

The primary culprit - aside from maintaining posses and entourages who rob the athlete blind, disreputable agents and financial advisers, child support for six different Moms - is good old-fashioned private equity greed. I can see why Torii Hunter was blown away by this fantastic idea:

About five years ago, Hunter says, he invested almost $70,000 in an invention: an inflatable raft that would sit under furniture. The pitch was that when high-rainfall areas were flooded, consumers could pump up the device, allowing a sofa to float and remain dry.

You see, it's a Jump To Conclusions Mat!

Don't worry: Triton Financial and former Longhorn QB Chance Mock to the rescue!

In October, Atwater himself received an investment pitch from a fellow athlete. Former quarterback Jeff Blake sent 102 other retired players an e-mail on behalf of Triton Financial, an investment firm in Austin, whose "athlete services" department Blake directs along with three other ex-QBs: Chris Weinke and the brothers Detmer, Ty and Koy. In the e-mail, a copy of which was obtained by SI, Blake claimed without caveat that "Triton is averaging 32% annualized return on its investments within the past five years."

Chance Mock has a two part plan!

Part one: buy low, sell high!

Part two: eat enormous amounts of fast food and speak entirely in simple-minded cliches.

Don't worry - there's always notable illiterate financial guru media darling Lenny Dykstra to offer you financial advice.

Dykstra - a man who once famously cautioned Moneyball GM Billy Beane that "you shouldn't ever read books, it just fucks up your eyes, dude!" was heralded as a savant genius by none other than the allegedly hard-hitting HBO show Real Sports. And Jim Cramer vouched for him!

Proving that the only thing consistently dumber than our athletes is our media.

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Comments

Display:

I’m gonna make a prediction you can’t refuse:

This will end badly.

by La Cosa Nostradamus on Mar 23, 2009 10:12 AM CDT reply actions  

If I had listened to Jim Cramer I would have a Million dollars!!!

Of course I would have needed Five Million to start with.

by Art Vandelay on Mar 23, 2009 10:21 AM CDT reply actions  

“Sure NBA Players make a lot of money, but we spend a lot too.”

by Patrick Ewing on Mar 23, 2009 10:47 AM CDT reply actions  

Mock needs a water pill.

by ValhallaRising on Mar 23, 2009 11:19 AM CDT reply actions  

I dont know whether to be appalled or impressed that Lenny Dyksta wrote(?) a book

by bgood2texas on Mar 23, 2009 11:32 AM CDT reply actions  

Can we finally kill the myth of the “student-athlete,” at least in the Big Three? There are tons of brilliant student-athletes, but it seems like for every Shane Battier, there are ten Travis Henry’s (well, I guess one Travis Henry and nine of his kids).

by justintx on Mar 23, 2009 11:44 AM CDT reply actions  

Relatives are not the only ones foolishly trusted with athletes’ money. One up-and-coming guard in the NBA allows his entire fortune to be managed by his former AAU coach, who has the player’s power of attorney. In a meeting with Butowsky in December, the guard’s dad admitted that he has no idea who the son’s accountant is and said he wanted a financial “intervention.”

Yikes.

by PatronSaint on Mar 23, 2009 11:47 AM CDT reply actions  

Mike Tyson paid a guy named Crocodile $300,000 in 1996 to dress in fatigues and repeatedly shout “guerrilla warfare” at Tyson news conferences.

These dudes live like Tracy Jordan on ‘30 Rock.’

“Next you’ll be telling me that leasing a sports car is a bad investment!”

by HenryJames on Mar 23, 2009 12:01 PM CDT reply actions  

From firsthand experience, I can tell you that famous athletes you would recognize give their money to their ‘friends’ for any number of business ventures, which universally turn out badly.

by RansomStoddard on Mar 23, 2009 12:23 PM CDT reply actions  

Rule # 1-DO NOT BECOME A “Celebrity”. The lifestyle is expensive and fleeting. These Men r historic figures and should behave as such. They are not “Song and Dance” , they r gifted Athletes who should marry women like Briget Moynihan and not Lady Gaga. BTW-did I mention Hollywood as being not only expensive but “hollow”? BTW-did these historic figures work all of their lives to end up in tacky press? They need 2 behave more like President Obama and less like Lindsay Lohan! In the end-no money & no legacy 2 show 4 it. Rule #2-read over rule #1.Unless u plan 2 sell more records than MJ or The Beatles or Stones-stay out of Hollywood.

by PPL UTILITIES/PERFECTLY PLANNED LIFE on Mar 23, 2009 12:56 PM CDT reply actions  

What’s out- Celebrities…what’s in-mystickal private citizens/artists/activists, PUblic Servants, CEOs/CFOs(yes they r) and College/Professional Athletes-now and forever. REALITY always trumps the make-believe.

by PPL UTILITIES/PERFECTLY PLANNED LIFE on Mar 23, 2009 1:05 PM CDT reply actions  

Can’t 4 get scientists like Channel 10’s “Hurricane” Scwartz, or Channel 6’s Dave Roberts.

by DR P on Mar 23, 2009 1:13 PM CDT reply actions  

“Rule # 1-DO NOT BECOME A "Celebrity". The lifestyle is expensive and fleeting. These Men r historic figures and should behave as such. They are not "Song and Dance" , they r gifted Athletes who should marry women like Briget Moynihan and not Lady Gaga. BTW-did I mention Hollywood as being not only expensive but "hollow"? BTW-did these historic figures work all of their lives to end up in tacky press? They need 2 behave more like President Obama and less like Lindsay Lohan! In the end-no money & no legacy 2 show 4 it. Rule #2-read over rule #1.Unless u plan 2 sell more records than MJ or The Beatles or Stones-stay out of Hollywood.”

Did you text that to us?

by The General on Mar 23, 2009 1:19 PM CDT reply actions  

Walter what the fuck are you talking about?!

by Minnesotahorn on Mar 23, 2009 1:43 PM CDT reply actions  

Chance Mock posted a bizarre, hopefully hypothetical campaign platform on Orangebloods a while ago. It read like the transcript of a call to Sean Hannity’s radio show. But far more frightening than the laundry list of vacuous platitudes and reckless policy aspiriations posted by #5 was the outpouring of cultish admiration and vote pledges given in response by starstruck Longhorn football fans too stupid or immature to separate their sports allegiance from their electoral decision-making.

by BrickHorn on Mar 23, 2009 2:27 PM CDT reply actions  

We make a lot. But, we also spend a lot.

by Patrick Ewing on Mar 23, 2009 3:42 PM CDT reply actions  

You also repeat yourself.

by HenryJames on Mar 23, 2009 3:50 PM CDT reply actions  

I think the NFL has programs that all rookies have to go through that address the financial issues they will face. Or so I’ve heard. At least the NFL makes an attempt to give the guys some type of education about it. Who knows how many it has helped in the long run, though.

by Sasha_Is_A_Longhorn_Dog on Mar 23, 2009 6:05 PM CDT reply actions  

Why would anyone fawn over Chance Mock? The guy sucked. He was an overhyped recruit by his buddy, Geoff Ketchum, who couldn’t a damned thing done on the field against an opponent worth a shit.

I watched the segment on Dykstra on RealSports. I found it funny and entertaining. I shouldn’t be surprised that the whole thing was bullshit.

by closetojumping on Mar 23, 2009 7:21 PM CDT reply actions  

Retarded paramecium can get good returns in a bull market. Dykstra and Mock aren’t retarded, but are likely single-celled organisms.

by SizzleChest on Mar 23, 2009 7:41 PM CDT reply actions  

Madoff once reportedly [according to onlookers registered with the Mississippi How to Issue Common Stock Board(HICS Board)]punted a football farther than Russell Erxleben at a Do the Ponzi and meet the Fonzi seminar in the Hamptons.

by absolut on Mar 23, 2009 10:23 PM CDT reply actions  

I love all the boys at Barking Carnival-too many inside jokes, and codes, however.

by Nadine on Mar 24, 2009 2:27 PM CDT reply actions  

Why turn into a “tabloid tootsie” if your already an accomplished Athlete, Shakespearian Actor, etc.? Your legacy is drowned out by ridiculous soundbites and images.I agree. Its a sell-out.I know what your talkin’ ‘bout. Protect your image-and your pocketbook. There’s so many trashy celebs out there, I don’t even know who half of them are. I know every player on The Chargers roster, however.

by Pompous Anus on Mar 24, 2009 2:40 PM CDT reply actions  

Pompous Anus, I must say…ppl. like Jack Nicholson, Hugh Jackman and Farrah Fawcett are Actors-not “Celebrities”. Scipio-even though there are those in the NFL who cheated their way through college-with the fine help from college administrators, most in the NFL are far more intelligent than your average North American. They have 2 be. Your just perpetuating the “idiotic jock” stereotype with your wicked comments.

by Quaker Oats on Mar 24, 2009 3:15 PM CDT reply actions  

Scipio-even though there are those in the NFL who cheated their way through college-with the fine help from college administrators, most in the NFL are far more intelligent than your average North American. They have 2 be. Your just perpetuating the "idiotic jock" stereotype with your wicked comments.
 
Why do they have to be?
 
And what evidence do you have that they’re brighter than the average North American (we’re including Nova Scotia residents)?

And I didn’t perpetuate a stereotype. Re-read my opening two lines.

by Scipio Tex on Mar 24, 2009 3:18 PM CDT reply actions  

BTW-as a whole,Nick Scipio,I find your article quite interesting and it made me realise just how poor I really am.

by Quaker Oats on Mar 24, 2009 3:20 PM CDT reply actions  

Well, gee, Mr.Scipio, I was under the assumption an I.Q. test was administered by The NFL and they need 2 meet a certain intellectual criteria…that’s what my nephew tells me. BTW-you shouldn’t be so ethno-centric and just assume everyone identifies themselves as being American,eh? You should know better. I’ve been in America 4 26 years and I STILL don’t feel “American”. “North American” is a term that resonates with so many of us “friendly” Canadians.

by Quaker Oats on Mar 24, 2009 3:40 PM CDT reply actions  

“…I was under the assumption an I.Q. test was administered by The NFL and they need 2 meet a certain intellectual criteria.”

Wherever did you hear this? Did they read the test aloud for Dexter Manley?

by the Bobs on Mar 24, 2009 3:49 PM CDT reply actions  

lol-I give up-you won the debate.

by Quaker Oats on Mar 24, 2009 3:58 PM CDT reply actions  

Mr.Scipio, I must say, you missed your “calling”. You should’ve been an Attorney. Your no “dumb blonde”-your razor sharp,a formidable debater. If this were 1692 & Massachusetts & you were accused of practising Witchcraft…there would be no doubt, Nick, you would be able to get away with that dunking-or at least postpone it. Touch-ay!!

by Dr. Pepper-tore on Mar 25, 2009 1:03 PM CDT reply actions  

“sorry heterosexuals & asexuals-your out of luck”
Well, I will agree that being asexual would be pretty unlucky.

by misterloki on Mar 27, 2009 9:53 AM CDT reply actions  

Oh, and you may also want to check your lithium dosage.

by misterloki on Mar 27, 2009 9:54 AM CDT reply actions  

Yup, advanced delusionary schizophrenia with involuntary narcissistic rage can get pretty “pescky” when dosages are not adequately monitored.

by Emmett Fitzhume on Mar 27, 2009 10:51 AM CDT reply actions  

Yeah, Kermit, unless your a Jew.

by Leskon on Mar 28, 2009 1:22 PM CDT reply actions  

I think i know who that comment was for, Mr Croatian Nation. Your crazy, alright-like a fuckin’ fox, your crazy.

by KENDRA on Mar 28, 2009 1:50 PM CDT reply actions  

Oh, Noz!!!!

by Barton West on Dec 23, 2009 9:57 PM CST reply actions  

I loved TMZs coverage of Lindsay Lohan in court yesterday. She was a blubbering idiot. I almost felt bad for her.

by Elvin Pinley on Jul 9, 2010 12:12 PM CDT reply actions  

I found your site when i was searching Google for websites related to this article. I have tell you, your site is good. I like the design too, its nice. I don’t have much time at the moment to fully read your site but I have noted it and I also registered for your RSS feed. I will be back in a day or two.

by acai berry optimum on Oct 21, 2010 8:47 PM CDT reply actions  

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