jocstrap 8 Posted March 23, 2011 (Rotoworld) Steelers QB Charlie Batch filed for bankruptcy in December. Analysis: Batch's bankruptcy filing lists $8.3 million in liabilities and $2.3 million in assets. He may end up losing his two Super Bowl rings to pay off the debt. Batch is the second veteran QB in two years to file for bankruptcy, joining the Jets' Mark Brunell. The dude has been in the NFL since 1998. If he's hurting this bad now, what is going to happen 10 years from now? DUMBASS Share this post Link to post Share on other sites
Vikings4ever 496 Posted March 23, 2011 This is why I laugh whenever someone says the players should form their own league. 95% are bankrupt within 5 years of retiring. Share this post Link to post Share on other sites
420allstars 13 Posted March 23, 2011 How is this possible!!! what a idiot, I just dont understand how people find a way to rack up 4x more dept tham assets, was he expecting another big contract?? Share this post Link to post Share on other sites
jocstrap 8 Posted March 23, 2011 How is this possible!!! what a idiot, I just dont understand how people find a way to rack up 4x more dept tham assets, was he expecting another big contract?? Salary $750k (i'm guessing) House 4.5 million 2nd house 1.5 million 10 cars Share this post Link to post Share on other sites
420allstars 13 Posted March 23, 2011 Salary $750k (i'm guessing) House 4.5 million 2nd house 1.5 million 10 cars maybe someone should teach these guys to live within the means.. also playing football isnt like working a normal job, this weeks paycheck could be your last !! Share this post Link to post Share on other sites
kutulu 1,545 Posted March 23, 2011 How is this possible!!! what a idiot, I just dont understand how people find a way to rack up 4x more dept tham assets, was he expecting another big contract?? Batch’s bankruptcy filing listed $8.3 million in liabilities and $2.3 million in assets. His real estate company, Batch Development Co. Inc., had to turn over 25 properties after defaulting on a $1.15 million mortgage. ~pft.com Share this post Link to post Share on other sites
pimptastic69 0 Posted March 24, 2011 From what I can tell, bad investments is usually the case. So one might say, "Man, if I got a million dollar signing bonus and made $500 grand for 3 years - I'd invest all my money and be set for life." To that I'd say, look at most lottery winners. They're usually broke within a few years. They buy new homes for all their family, complete with new cars and whatnot. Football players are pretty much the same deal. They come from nothing and suddenly enter into a huge amount of money and either piss the money away or get preyed on by unscrupulous types. Then they're left to deal with it some huge pile of debt. Not saying I feel sorry for them, but it's not unusual. Share this post Link to post Share on other sites
shovelheadt 62 Posted March 24, 2011 And the owners smile. Seriously, the owners are not sweating these idiots at all during this lockout. Share this post Link to post Share on other sites
IGotWorms 3,315 Posted March 25, 2011 95% are bankrupt within 5 years of retiring. Is that an actual statistic? Share this post Link to post Share on other sites
Vikings4ever 496 Posted March 25, 2011 Is that an actual statistic? No, just guessing. But 78% are bankrupt or in financial trouble within 2 years of retirement. http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Why-do-so-many-NFL-players-go-bankrupt-?urn=nfl-190555 Share this post Link to post Share on other sites
420allstars 13 Posted March 25, 2011 No, just guessing. But 78% are bankrupt or in financial trouble within 2 years of retirement. http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Why-do-so-many-NFL-players-go-bankrupt-?urn=nfl-190555 WOW !!!!! 78% thats insane.. Share this post Link to post Share on other sites
jpcdds 21 Posted March 27, 2011 All i know is he has made 6.5M over the last 5 years... add another 8 years earlier and he has to be pushing 20M not including any endorsements. Plus these guys get tons of freebies... Share this post Link to post Share on other sites
jocstrap 8 Posted March 28, 2011 All i know is he has made 6.5M over the last 5 years... add another 8 years earlier and he has to be pushing 20M not including any endorsements. Plus these guys get tons of freebies... that's what is so great about America - scam or tax the rich ones. So he lost that much in his real estate adventures...who took his money? It went into somebody's bank account:) Share this post Link to post Share on other sites
murf74 461 Posted March 28, 2011 And he is the mentor/advisor for Terrelle Pryor Share this post Link to post Share on other sites
De Novo 0 Posted March 28, 2011 Sad. For everyone saying "omg how can I guy who makes x be bankrupt" there's always someone who makes less than you make who'd say the same thing if you declared bankruptcy. Poor investments, mismanagement of money, living beyond your means, being taken advantage of by managers/advisors/friends/posse... this can happen at any income level. Share this post Link to post Share on other sites
jocstrap 8 Posted March 28, 2011 Sad. For everyone saying "omg how can I guy who makes x be bankrupt" there's always someone who makes less than you make who'd say the same thing if you declared bankruptcy. Poor investments, mismanagement of money, living beyond your means, being taken advantage of by managers/advisors/friends/posse... this can happen at any income level. true, most of just don't millions though. Share this post Link to post Share on other sites
RLLD 3,455 Posted March 28, 2011 Money don't fix stupid - (with apologies to Phurfur) Share this post Link to post Share on other sites
