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1. andrewberg Posted: April 12, 2008 at 09:25 PM (#2741168)Dude's made $16MM plus playing baseball. It should take him at least a few years to drink all that up. Here's hoping he gets some help before that happens.
cheers!
"Many indulge in lavish spending habits. Some receive bad financial advice from their agents and only travel with an entourage. Others experience a high divorce rate and are flooded with child and spousal support payments, multiple payments in some instances. Then there are those who get caught up in all the above."
I doubt it is much different in baseball. A fool and his money are soon parted. Latrell Sprewell went broke, despite making $96,622,500 in his career. I would not be surprised to learn that Spiezio has burned through his measily $16,000,000.
He surely made a lot more than $97 million dollars over the past 16 years. I know taxes take a good chunk of that, but still, you would think you could live on that for awhile.
Tony Gwynn was broke at one point, thanks to an agent taking advantage of him. Luckily for him, he still had more than a decade left to play, and made plenty of money over that time.
I do think it's worth pointing out that athletes likely take home less than half of their public salaries, between taxes, agents, union dues, etc. Not that that still isn't a ton a of money in most cases, but I'm just saying.
or really really really hungover
not that it really makes a difference to the Braves
A lot of guys who come from poverty make a pact with their friends that if just one of them makes it big, he'll help out the rest who weren't so lucky. Well, $5 million divided among 20 people is not as much as $5 million for just one person.
Especially given the legacy of prejudice and segregation. Black people may make nearly as much as white people in terms of average income these days, but they have far less savings.
(Not that this necessarily describes Spiezio, whose dad was a major leaguer. or Sprewell, who...well, that's a lot of money to waste. No excuse for not even having a million left.)
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