Why I Make the Athletes are Broke Videos

3 years ago
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Adrien Broner is one of the best boxers of the last decade and has made millions of dollars, yet he was in the news recently asking for $13 from his fans so that he could pay down $800,000 of debt.

Adrien Broner was in court dealing with a lawsuit from an incident in a nightclub where a woman claimed he sexually assaulted her. He missed the court hearing and didn’t hire a lawyer so the court ruled in favor of the woman and ordered Broner to pay her more than $800,000. Broner did not pay, and Russo granted requests from the woman’s attorneys and ordered him to produce records about his finances.

It turns out Adrien Broner doesn’t have the money to settle with this lady and is asking for his fans to send him $13 on CashApp so he wouldn’t have to make an OnlyFans to pay down his debt. The $13 represents how much money Adrien claimed to have in his bank account at the time of the court hearing.

I made a video about Dwayne Haskins where I just wanted to explain how easy it is for guys to go broke. A lot of people thought I was hating on Haskins or they wanted to tell me that he had no chance of going broke because he’s a starting quarterback in the NFL and he’ll certainly get a second deal. That Spencer guy doesn’t know what he’s talking about. Yet somehow within six months, he lost his starting job on an awful team, got dropped to third string, and I don’t think his second contract is even guaranteed at this point.

He said he saved 70% of his money or something, but even if he has $2 million saved and invested, that’s not going to last him and his future family and children for 70 more years. If he’s spending a lot of money now, he better be able to go super frugal if he doesn’t land that second contract. That is not easy to do. If he isn’t careful, he will be in need of a job when his playing days are over.

Athletes have the tendency to build up monthly liabilities. The numerous sports cars, the multiple houses, the lifestyle, the vacations, the jewelry. It’s the aggregate of monthly liabilities that gets them in trouble. When they’re playing, they can easily afford a lifestyle of spending one hundred grand a month. When you’re making $10 mill a year, what’s $100k a month?

Fans will see athletes make $50 million in 5 years and go wow Spencer you’re an idiot he’s making so much money, he’ll be fine, you’re just a hater. Well $50 million becomes $25 million instantly because of taxes, money to managers and agents, PR reps, lawyers, etc. With $25 million, they buy a multiple million dollar house that has property taxes and insurance, maintenance and lawn care among other expenses. They have a couple of expensive cars, they have expensive jewelry, and they live a life full of expenses.

The $25 million is down to $10 million a couple years after the playing days are over.

If they get hit with a divorce and child support, that $10 million becomes $5 million and they added an additional monthly expense. Keep in mind that athletes generally stop earning paychecks aka they retire by the time they’re 30. Don’t believe me? Go look at the average length of time athletes play, 30 is pretty generous.

So an athlete retires at 30 and they will live until 85. That’s 55 years of living where they now don’t have any money coming in. As I just explained, they’re used to spending $100 grand per month. You want to know how quickly your bank account dries up when you have zero coming in and a hundred grand going out. It happens really quickly.

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