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  1. #13
    Join Date
    Jun 2011
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    New York City
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    Re: T.O. Squandered 80 mill.



    Quote Originally Posted by GOTA View Post
    I feel bad for those poor bastards he's going to stiff when he declares bankruptcy.
    Excellent point GOTA ! These "I'm above the public" athletes don't give a damn about who gets hurt (financially, emotionally, or physically) as long as their outlandish needs are met. T. O. = Take Over (everything as long as I don't have to pay back)... Bc




  2. #14

    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by HoustonRaven View Post
    Is anyone really shocked?
    Shocked that he sucks at managing money and is a bad father? Nope. Shocked at the amount of money? Kinda. Its just a bit mind boggling that someone could flat out waist that much money.




  3. #15

    Re: T.O. Squandered 80 mill.

    I don't give a shit about anyone who made more than 1 million in their life that lost it all consider the degree of poverty around the world. If I ran into T.O. I would ask him to get the fuck out of my way.




  4. #16
    Join Date
    Aug 2007
    Location
    Houston, TX Y'all
    Posts
    21,640

    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by Justlovemybirds View Post
    Shocked that he sucks at managing money and is a bad father? Nope. Shocked at the amount of money? Kinda. Its just a bit mind boggling that someone could flat out waist that much money.
    After taxes and agent nonsense, it's more likely in the $40 Million range.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  5. #17
    Join Date
    Jul 2011
    Location
    San Dimas, CA
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    5,357

    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by Galen Sevinne View Post
    What's even worse is that I saw a preview where T.O. will be on Dr. Phil coming up here soon being called out by three of the mom's of his kids. How desperate he must be to go on a show like that under those pretenses.

    Sent from my DROID4 using Tapatalk 2
    Ummm . . . did you click on the link?




  6. #18
    Join Date
    Jan 2012
    Location
    Cockeysville, MD
    Posts
    3,225

    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by HoustonRaven View Post
    After taxes and agent nonsense, it's more likely in the $40 Million range.
    I sure would love to get my hands on 40 million. I have no sympathy for him.




  7. #19
    Join Date
    Jul 2011
    Location
    Atlanta, GA
    Posts
    38

    Re: T.O. Squandered 80 mill.

    I know the easy thing to say here is "Oh, T.O. is stupid...I'd never blow that kind of loot. They get paid to play a child's game...blah, blah." And yes, a number of times atheletes DO go broke by overspending, trying to keep up with other atheletes and rappers (case in point, Antoine Walker). However, there's a number of financial intracies at play that the average shmoe isn't affected by that does touch athletes and can contribute to their financial downfall. In T.O.s case, he didn't spend lavishly by athlete standards, but with baby mama drama, bad investments, and people that outright took advantage of him while he took care of the on field activities - he was left in a bad position. This GQ article sums up a lot of what atheletes go through finacially, and how it's easy for them to get in trouble, despite what they make.

    http://www.gq.com/sports/guides/2012...#ixzz1quK2cmFh




  8. #20
    Join Date
    May 2010
    Location
    Greensboro, North Carolina
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    4,253
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    Re: T.O. Squandered 80 mill.

    I don't feel bad for T.O. I think if some of these guys took full advantage of the FREE college education that they are given, we'd see a lot less of this non-sense.




  9. #21

    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by 404Blackbird View Post
    I know the easy thing to say here is "Oh, T.O. is stupid...I'd never blow that kind of loot. They get paid to play a child's game...blah, blah." And yes, a number of times atheletes DO go broke by overspending, trying to keep up with other atheletes and rappers (case in point, Antoine Walker). However, there's a number of financial intracies at play that the average shmoe isn't affected by that does touch athletes and can contribute to their financial downfall. In T.O.s Pcase, he didn't spend lavishly by athlete standards, but with baby mama drama, bad investments, and people that outright took advantage of him while he took care of the on field activities - he was left in a bad position. This GQ article sums up a lot of what atheletes go through finacially, and how it's easy for them to get in trouble, despite what they make

    http://www.gq.com/sports/guides/2012...#ixzz1quK2cmFh
    Good article. Thanks for posting.




  10. #22

    Re: T.O. Squandered 80 mill.

    Does anyone believe that these athletes are really "broke", or have a little cash stashed somewhere on the side that no one knows about, and are just claiming to be broke to get out of debts they don't want to pay?

    I would bet my life that in a lot of these situations these guys might be "bankrupt" on paper, but far from it in reality. Just like a lot of people with money who file for bankruptcy but in reality are nowhere near broke.

    Now I do agree that a large majority are probably that stupid and wasted it all, but not all of them.

    There are so many ways to structure things on paper to protect an individual, so many places to hide assets it isn't even funny. And these guys have the lawyers and accountants to do it.




  11. #23
    Join Date
    Aug 2009
    Location
    Wilton, CT
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    12,290
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    Re: T.O. Squandered 80 mill.

    Quote Originally Posted by 404Blackbird View Post
    I know the easy thing to say here is "Oh, T.O. is stupid...I'd never blow that kind of loot. They get paid to play a child's game...blah, blah." And yes, a number of times atheletes DO go broke by overspending, trying to keep up with other atheletes and rappers (case in point, Antoine Walker). However, there's a number of financial intracies at play that the average shmoe isn't affected by that does touch athletes and can contribute to their financial downfall. In T.O.s case, he didn't spend lavishly by athlete standards, but with baby mama drama, bad investments, and people that outright took advantage of him while he took care of the on field activities - he was left in a bad position. This GQ article sums up a lot of what atheletes go through finacially, and how it's easy for them to get in trouble, despite what they make.

    http://www.gq.com/sports/guides/2012...#ixzz1quK2cmFh
    That's bullshit. Home, Cars and Other expenses aren't different from Lifestyle expenses. Bad investments don't have to be part of the pie. What the article calls 'traditional investments' have a return that add to the total. They aren't even expenses

    To many of these guys just can't stop spending. They feel that as a professional athlete they shouldn't have to ever work again. I heard Ronnie Lott, who now manages a $2 billion private equity firm, point out that not nearly as many athletes in the past ended up bankrupt despite making a fraction of the money. That's because they knew that football would end eventually and they had to plan for their future. They respected money a lot more than the average athlete of today seem to. Lott is right as usual.
    He Who Dares.....Wins




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