Bryant McKinnie broke

[MikeO]

http://profootballtalk.nbcsports.com/2014/07/06/financial-problems-continue-for-bryant-mckinnie/

He has been in the league since 2002. A first round Top 10 pick who has made millions upon millions....and he is flat broke! His car just got repossessed and owes attorneys around $21,000+ that he can't afford to pay. 

[Cathal]

What a moron. How can you not realize you need to manage your money since you've only got such a small window to make it?

[EDGECRUSHER]

A lot of these guys come from poor families and they just never learned that money runs out and how to take care of it. It seems silly to say such a thing, but it's been proven time and time again. Shaq spent his first Million in a day and then his Accountant called him an idiot and how he would be homeless in 10 years.

Some people just don't have that person or support system to let them know when they are being harmful to themselves.

[RichThrawn]

He better hope some team is in need of a left tackle

[MikeO]

He better hope some team is in need of a left tackle

Baltimore and Carolina have offensive lines as bad if not worse than Miami's (hard to believe I know.) I am sure one of those two teams could sign him come August or September during or after camp. He is probably a post-Week 1 signing at this point in his career so you don't have to guarantee the contract.

[RichThrawn]

I've always been of the mindset that the NFL needs to step in and require players to place a portion of the money they make in a trust fund so they can be paid regularly when they retire.  This is a perfect example of why. 

[MikeO]

I've always been of the mindset that the NFL needs to step in and require players to place a portion of the money they make in a trust fund so they can be paid regularly when they retire.  This is a perfect example of why. 

Good agents do that for the players. Set something up for them long-term. McKinnie came out of college and signed with Drew Rosenhaus. Nuff said!

The smartest athlete I have seen in a while was Michael Carter-Williams of the 76ers and the NBA rookie of the year. His mother made him put his entire rookie contract in a trust he can't touch for 3 years. So if he sucked or got injured and was out of the league he could live off that. He ended up winning the Rookie of The Year, but he has something to fall back on incase he gets injured or does end up being a flash in the pan. He is only living off his endorsement deal money currently. Every penny he gets from the 76ers goes straight into a trust set up for him.

[RichThrawn]

Good agents do that for the players. Set something up for them long-term. McKinnie came out of college and signed with Drew Rosenhaus. Nuff said!

The smartest athlete I have seen in a while was Michael Carter-Williams of the 76ers and the NBA rookie of the year. His mother made him put his entire rookie contract in a trust he can't touch for 3 years. So if he sucked or got injured and was out of the league he could live off that. He ended up winning the Rookie of The Year, but he has something to fall back on incase he gets injured or does end up being a flash in the pan. He is only living off his endorsement deal money currently. Every penny he gets from the 76ers goes straight into a trust set up for him.

Can't say that I disagree there.  Rosenhaus does not help his players for the future, only for the now.  He'll make sure his clients have condoms when they are taking women back to their hotel rooms from a nightclub, but he won't help set them up with financial security when the day comes where they can't play anymore.

[Spider-Dan]

I wonder how often this occurs among MLB players?

Unlike football and basketball, where poor players are essentially forced to play without pay if they want to reach the top level (and therefore jump immediately from being dirt broke to being millionaires), baseball players are able to sign contracts in the minor leagues and at least get some experience managing middle-class levels of income before becoming ultra-rich overnight.

[masterfins]

The next article you will read about McKinnie is: Former NFL lineman arrested with car trunk full of drugs.

[RichThrawn]

I wonder how often this occurs among MLB players?

Unlike football and basketball, where poor players are essentially forced to play without pay if they want to reach the top level (and therefore jump immediately from being dirt broke to being millionaires), baseball players are able to sign contracts in the minor leagues and at least get some experience managing middle-class levels of income before becoming ultra-rich overnight.

Not as often as NFL or NBA but there have been a few cases.

- Jack Clark

- Benito Santiago

- Lenny Dykstra

- Scott Eyre

[Spider-Dan]

I don't know about the rest, but Dykstra's issues were not quite "spent all his money" as much as they were "was running various financial scams that blew up in his face."

[RichThrawn]

I don't know about the rest, but Dykstra's issues were not quite "spent all his money" as much as they were "was running various financial scams that blew up in his face."

Same deal with Eyre.  Bad investments.  I'm sure there are a few more

[Sunstroke]

I don't know about the rest, but Dykstra's issues were not quite "spent all his money" as much as they were "was running various financial scams that blew up in his face."

Same deal with Eyre.  Bad investments. 

While both could be categorized as "once rich, now broke," I'm not sure I'd put Eyre in the same category as Dykstra. Eyre was just a victim of bad investments in someone else's scam, while Dykstra was scamming the hell out of other people. Dykstra was also doing and selling drugs and engaged in a shitload of other illegal activities.

Eyre wasn't very bright...but Dykstra was a criminal.

[MikeO]

Tony Gwynn is another baseball guy who filed for bankruptcy as well