But there is also a surprising set of data. According to a survey conducted by Sports Illustrated in 2009, more than 60% of the players, including scottie, declared bankruptcy after five years of retirement. Pippen, Allen? Iverson, Antoine? Walker, these stars.
Surprisingly, how did they lose tens or even hundreds of millions of property?
Take Iverson as an example. During his career, he received a salary of $65,438+$54 million, plus a lifetime contract with Reebok, and his total income exceeded $200 million. But soon after he retired, the news of bankruptcy came out. Fortunately, Reebok said that Reebok signed an agreement with Iverson in 2006, and 5438+32 million dollars was allocated to the foundation.
How did Iverson spend all his money?
First, NBA players' contracts and sponsorship fees are pre-tax, and the tax is divided into national tax and state tax, which is why many people are willing to go to Texas. The tax burden in Texas is very light, and with the money drawn by brokers, what players can really get is just over half. Iverson seems to have an income of 200 million, but only about 1 100 million dollars can appear in his account;
Second, like most black players, Iverson has many relatives and friends. When he is rich, he will invite them to eat and drink, and even let them swipe their credit cards at will. Even after bankruptcy, Iverson had several friends who had never worked together, and he was overdrawn by Iverson.
Third, after having money, it is difficult for players to be frugal. They will buy cars, houses and all kinds of luxuries. Especially street players like Iverson, they love gold necklaces and diamond earrings. Several NBA reporters revealed that Iverson lost tens of thousands of yuan of diamond jewelry in the locker room. When he had money, Iverson shrugged off it and didn't investigate it.
Fourth, there is no targeted investment and it is easy to be deceived. Iverson doesn't do much in investment, but some players are different, such as Pippen. His expenses are not big, and he is even considered a little stingy by the outside world. It was because he trusted investors by mistake and lost tens of millions, which led to bankruptcy. Even like Tim? A smart man like Duncan was also cheated out of $20 million.
5. Gambling. This may be the reason why most NBA players go bankrupt, Michael? Jordan is a gambler, but he has enough money to splurge, but other things are different, such as Antoine? Walker, a member of 1996 Golden Generation, was gambled by Jordan for the first time in the All-Star Game. Since then, he has fallen into a strange circle of gambling, earning hundreds of millions, almost all of which have been contributed to casinos. Another example is Harrison, a former foreign aid from Beijing and Guangdong teams. He earned more than $4 million in the NBA and almost the same amount in the CBA. As a result, because he likes gambling, he ended up working in McDonald's.
Let's take another look. What are the expenses after Iverson declared bankruptcy?
125,000 USD for debt repayment;
65,438+0,000 dollars for clothes;
65,438+0,000 USD for dinner or entertainment.
65,438+0,000 USD for daily necessities or luxury goods.
In other words, after bankruptcy, Iverson will spend $30,000 every month in his life. He didn't give alimony to his children, and he didn't need to give his wife living expenses. He had no money, so he did this. You can imagine how he spent his money when he had hundreds of millions of dollars on him.