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With lockout looming, players aren't saving money

On multiple occasions, NFLPA Executive Director DeMaurice Smith has said that, on a scale of one to 10, the potential for a lockout is 14.  While the owners possibly have heeded that warning by taking full advantage of a season without a salary floor, the players possibly haven’t.

Mike Freeman of CBSSports.com takes a great look at the issue, pointing out accounts of a backup lineman buying three cars in two months, a quarterback buying his third home, and multiple players earning millions and swimming in debt.

Though some players, per Freeman, have been stockpiling money and/or selling off assets, a “significant number” aren’t.  And that will serve only to help the league is a lockout comes.

Freeman cites unnamed sources in support of the notion that owners are expecting a six-game lockout.  The players anticipate fewer games, but they are preparing for up to half of the season to be scuttled.

The situation has been looming for a couple of years, and though we’re trying to be optimistic it’s hard to imagine a deal being finalized by March 2011.  After that, who knows what will happen?

Either way, the owners seem to be saving money by not spending nearly as much on players, and the players who will be getting less this year due to restricted spending would be very wise to start saving what they have.

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39 Responses to “With lockout looming, players aren't saving money”
  1. DC_Bengals_Fan says: Jul 16, 2010 1:46 PM

    People wrongly assume that these guys are rich so they have lots of money laying around. In reality, a lot of them are morons with little self control or sense of fiscal responsibility. So while they have lots of money, there’s no end to the amount of crap they can buy if they don’t watch it.
    Or, put another way – mo’ money, mo’ problems.

  2. tom coughlin's coat holder says: Jul 16, 2010 1:48 PM

    whoa!!!…..some players are investing in rims futures.

  3. Ollie says: Jul 16, 2010 1:49 PM

    Poor poor pro football players! What on earth will they do without a years salary? Can they draw unemployment $400.00 a week like a lot of Americans out of work for two or three years?Will they loose their homes? And its so hard for them to save up and prepare for this lockout, what with the bills and all. Some will probably have to cancel their cable and stop eating out. I feel so sorry for them.

  4. PurpleNGold says: Jul 16, 2010 1:51 PM

    some people are using dumpsters as their primary food source

  5. AlanSaysYo says: Jul 16, 2010 1:52 PM

    Sounds like the rest of America. A small minority is doing the responsible thing and saving money in the face of a threat to their income. The majority is still spending like the goal is to have a zero balance in their checking account.
    The only difference for the players is that there won’t be any government hand-holding when the money dries up. Good luck finding another line of work that pays that much, fellas. It’s not like you can always find work returning punts for Google or making field goals at Apple. When your industry is shut down, it’s shut DOWN.

  6. TryTheVeal says: Jul 16, 2010 1:55 PM

    Thats because the owners are businessmen, and the majority of players are jackasses who give 120,000 dollars worth of jewerly to their half witted brother, who got his cash-4-gold-envelope the next day…….The majority of NFL players can run fast, jump high, and have no idea that if not for the NFL, they would be in jail……..Sad, but lets not sugarcoat it…….

  7. jj jones says: Jul 16, 2010 1:58 PM

    “AlanSaysYo says:
    July 16, 2010 1:52 PM
    It’s not like you can always find work returning punts for Google or making field goals at Apple. When your industry is shut down, it’s shut DOWN.”
    UFL BABY!!!!

  8. stan26 says: Jul 16, 2010 2:01 PM

    In some instances, getting rid of the “hangers on/posse” would save a lot. Then they would have to stay at home like the many other unemployed are doing.

  9. MotorCityKitties says: Jul 16, 2010 2:03 PM

    Oh snap! You mean players are going to have to cut back on their chrome spinners and vacation homes? Say it isn’t so.

  10. HarrisonHits says: Jul 16, 2010 2:04 PM

    “Though some players, per Freeman, have been stockpiling money and/or selling off assets, a “significant number” aren’t.”
    Of course they haven’t. Most of these guys are too freakin’ stupid to take a taxi or limo home when they’re drunk, or take advantage of the league’s free ride program.
    If they can’t even manage to figure out they should not drive drunk how in the world can they be expected to show financial responsibility and restraint ? Hell managing money means they have to actually show foresight and comprehend numbers larger than 100.
    Serves them right. I hope if De Smith and the rest of the idiots at the union force a lockout that the players suffer heavily. I know one thing. MLB lost be permanently after the strikes in the mid 90s and I have not watched a single game since. If the NFL has a lockout or the players go on strike I fully intend to replace the NFL in my world of entertainment and doubt very much I will ever spend another dime on the sport.

  11. numberfour says: Jul 16, 2010 2:05 PM

    bread and circuses
    the romans referred to a lot of these players as circus animals in their day
    wonder why?

  12. Ollie says: Jul 16, 2010 2:07 PM

    Hey tryThe Veal, they have to be fairly smart, they all went through 4 years of college.

  13. texasPHINSfan says: Jul 16, 2010 2:08 PM

    The athletes are fiscally irresponsible by nature, lockout or not.
    The real problem is there is no mandatory school course on budgeting and proper spending habits, so people only learn from their parents or from poor decisions and past experiences.
    Brunell is probably a guy that can appreciate that.

  14. stove boogie says: Jul 16, 2010 2:20 PM

    So what you’re saying is the owners are acting smart and the players are acting dumb. Nice work.

  15. skinsforlife says: Jul 16, 2010 2:23 PM

    I only registered just to say that some of the people on this site are some biggest racist nerds I’ve ever had the displeasure of reading. Namely ‘TryTheVeal’. Get a life and some education.

  16. Bwa Ha Ha says: Jul 16, 2010 2:29 PM

    Shouldn’t someone be saying” I blame Obama” about now?

  17. scomibord says: Jul 16, 2010 2:41 PM

    wHO SAID nfl players are smart in the first place?

  18. Wet Paper Bag says: Jul 16, 2010 2:51 PM

    This is a sad commentary. Making a story of the example of MAYBE 20-30 players out of a max possible 1,856 (active players plus 5 practice squad players per team) who are not financially responsible is reckless and gives the impression that the author leans towards the owner’s side of the whole owner/player debate.
    The VAST majority of NFL players manage their money. But, what fun is there in making a story about 90-95% of players living within their means. The REAL story is the average salaray of an NFL player in relation to what the superstar player makes.

  19. jimr10 says: Jul 16, 2010 2:56 PM

    I am not all seeing all knowing, but i knew when the players selected this guy there would be trouble. first, he is a washington big mouth lawyer. if the players watn a contract, tell him to get it done or you are history. it is up to the players.

  20. bluestree says: Jul 16, 2010 2:59 PM

    Sure are a lot of player haters on here. Never understood people who call themselves fans of the game, but hate on the players.
    Jealous? Yeah, more than a little bit.
    Got to be at least one more reason some of you hate on the players so much. What could it be…..

  21. Aspano21 says: Jul 16, 2010 3:04 PM

    I hope Chad Ochocinco learned how to use a bank…well at least he has reality shows and books to rely on to make some income while the lockout occurs…what are the back up lineman who bought 3 new cars gonna do?…They should learn how to manage their money a little better, understand how networth works…Keep eatin Mcdonalds Chad …dollar menu kid.

  22. Jaxeagle says: Jul 16, 2010 3:12 PM

    Hey try the Veal would Mark Brunell be in jail if he didn’t play in the NFL? He’s in the process of declaring bankruptcy and I bet there’s not a lot of bling or rims around his household.

  23. HarrisonHits says: Jul 16, 2010 3:23 PM

    “UFL BABY!!!!”
    Which is all well and good for the rare player who plays mainly for the love of the game and not the money involved.
    Believe average UFL pay is only something like 20-25k a year, so it’s not gonna replace an NFL salary.

  24. PackFaninPackLand says: Jul 16, 2010 3:45 PM

    Apparently the ONLY person this is news to, is Florio.
    Good grief Mike, there are people in every walk of life that save money for a “rainy day”, or live AT their means (i.e. paycheck to paycheck), and those that live BEYOND their means – until it comes back to kick them in the ass.
    Why would anyone think this wouldn’t apply to NFL players as well ????
    The only REAL story here, is that FLORIO thinks this is news.

  25. cj658 says: Jul 16, 2010 3:50 PM

    All you idiots preaching “save, save, save”. Don’t you realize that is what is WRONG with the economy in the first place. Most of you commenter’s above me are idiots who “think” they know about things, but really have no clue. Consumer spending DRIVES the economy. These players make more than most of us will see in our lifetime. If they all were to start “saving” and living all frugal like average Americans, the economy would suffer even more. All of that money being played to pro athletes needs to be re-circulated. Imagine if all the wealthy people in America all of a sudden just decided to start saving all of their money and stop spending. How do you think our economy would do? You people are the problem with our economy right now. You are the one who constantly live in media-based fear and think you have to save all your money and live like you’re on welfare, when in reality you do not. You people are only making things worse. The more cars and rims these guys buy, the better for our country and its economy. Idiots.

  26. Steeler fans are tools says: Jul 16, 2010 3:58 PM

    Ollie says:
    July 16, 2010 2:07 PM
    Hey tryThe Veal, they have to be fairly smart, they all went through 4 years of college.
    ————————————–
    I hope to Satan you are joking

  27. TheBaySay says: Jul 16, 2010 3:59 PM

    It’s why I laugh when politicians running for office say with outraged sincerity “All American families have to live within a budget. Government should have to do the same!” The government is (most of) us, in more ways than one.

  28. tudefit says: Jul 16, 2010 4:03 PM

    Oh man. Now I won’t be able to sleep at nights worrying about them.

  29. OJ SIMPSON says: Jul 16, 2010 4:19 PM

    Player’s should put their degrees to use:
    Chris Johnson was an English Major with focus on Grammer
    Clinton Portis receieved a degree in Theatrics
    And never Count out Matt Lienharts Women’s Studies diploma

  30. CYGNUS X-1 says: Jul 16, 2010 4:24 PM

    and your point is?am I supposed to feel sorry for guys who get paid alot of money then are to stupid to take care of it?look I know they are not like regular people but they are very well compensated for what they do and if they blow it all it’s thier fault and nobody else’s.

  31. jibfest says: Jul 16, 2010 4:29 PM

    tom coughlin’s coat holder says:
    July 16, 2010 1:48 PM
    whoa!!!…..some players are investing in rims futures.
    —hehe, “gaudy jewelry is up 10 points”.

  32. steely devil hab says: Jul 16, 2010 5:02 PM

    # bluestree says: July 16, 2010 2:59 PM
    Sure are a lot of player haters on here. Never understood people who call themselves fans of the game, but hate on the players.
    Jealous? Yeah, more than a little bit.
    Got to be at least one more reason some of you hate on the players so much. What could it be…..
    ———————————
    It’s because fans are supposed to support the TEAM, not the individual players.
    Fans who support players and say things like, “Pay the man!” are idiots. I want my team to win, not have the highest paid millionaires…
    WTF!

  33. bigbolt says: Jul 16, 2010 5:10 PM

    I’m sure the moron formerly known as Vincent Jackson hasn’t even begun to realize that he may not cash a freaking paycheck for over 2 years at the earliest! Nice move Jackson! Turd.

  34. godofwine says: Jul 16, 2010 5:10 PM

    Quotes # DC_Bengals_Fan says: July 16, 2010 1:46 PM
    People wrongly assume that these guys are rich so they have lots of money laying around. In reality, a lot of them are morons with little self control or sense of fiscal responsibility. So while they have lots of money, there’s no end to the amount of crap they can buy if they don’t watch it.
    Or, put another way – mo’ money, mo’ problems.
    ******
    This is totally true. You cannot expect all players to be fiscally responsible or even most. This the the and & the grasshopper. The ant saves and stores for the hard winter that is inevitably coming and the grasshopper just eats and eats without saving or staring anything. Some players will be prepared to wait out the owners for as long as it takes. Many or even most of the players (greater than 50%) will be begging De Smith to take whatever the owners are offering, possibly even jumping the strike lines playing with what will probably be either UFL or AFL players just to keep their Benz from being repo’d when they should have paid it off to begin with vs making payments.
    Many of these players with their money is similar to people in trailor parks or the hood winning Mega Millions. They never had money and don’t know how to save it once they have it and much sooner than you would expect…they are broke again.

  35. steely devil hab says: Jul 16, 2010 5:22 PM

    # cj658 says: July 16, 2010 3:50 PM
    All you idiots preaching “save, save, save”. Don’t you realize that is what is WRONG with the economy in the first place. Most of you commenter’s above me are idiots who “think” they know about things, but really have no clue. Consumer spending DRIVES the economy. These players make more than most of us will see in our lifetime. If they all were to start “saving” and living all frugal like average Americans, the economy would suffer even more. All of that money being played to pro athletes needs to be re-circulated. Imagine if all the wealthy people in America all of a sudden just decided to start saving all of their money and stop spending. How do you think our economy would do? You people are the problem with our economy right now. You are the one who constantly live in media-based fear and think you have to save all your money and live like you’re on welfare, when in reality you do not. You people are only making things worse. The more cars and rims these guys buy, the better for our country and its economy. Idiots.
    ———————-
    You are correct! Just think of DeBeers, Mercedes and the real estate comissions on $5+ million houses!!! How will they get by without the football players spending!!
    Knucklehead…

  36. bigtrav425 says: Jul 16, 2010 5:30 PM

    Why isnt anyone blaming Obama yet??

  37. steely devil hab says: Jul 16, 2010 5:32 PM

    # Jaxeagle says: July 16, 2010 3:12 PM
    Hey try the Veal would Mark Brunell be in jail if he didn’t play in the NFL? He’s in the process of declaring bankruptcy and I bet there’s not a lot of bling or rims around his household.
    ———————————
    Nope – just a church with it’s hand out and a spending wife who needed the mansion…

  38. BoltsFan says: Jul 16, 2010 7:02 PM

    That IDIOT on here admonishing everyone else for arguing in favor of being fiscally responsible is obviously retarded. True, spending does drive the economy, but IRRESPONSIBLE spending drives it into the ground. Why do you think so many fools are losing their homes right now???

  39. PurpleNGold says: Jul 16, 2010 9:58 PM

    @ BoltsFan
    Because 80% of all jobs in the United States now are service jobs. And service work doesn’t pay enough to cover a mortgage.

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