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Joe Haden says he'll be careful with his money

Browns rookie Joe Haden signed a five-year contract worth a maximum of $50 million and a guarantee of $26 million last week, which should mean he’s set for life — or set for many lifetimes — financially.

Then again, Mark Brunell made more than $50 million in his career and declared bankruptcy this offseason.

Haden says he’s aware of the poor financial decisions that so many professional athletes make, and he vows not to make the same mistakes.

“One thing a lot of people have been telling me – my parents, my financial adviser — is that 80 percent of the league, after 20 years out of the league, is broke or bankrupt,” Haden told the Canton Repository. “So one thing I’m doing with my money is, I set it up so me and my family and my brothers and my kids — if I have children — are set financially.”

The mere fact that Haden has parents and a financial adviser telling him to be careful with his money is a positive sign, although plenty of athletes have had problems with family members bleeding them dry or financial advisers leading them astray.

Ultimately, there’s probably not any 21-year-old anywhere who’s prepared to suddenly be handed tens of millions of dollars. But Haden says he’s prepared to handle his money responsibly.

“It definitely means a lot,” Haden said. “I just know that I’m set.”

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6 Responses to “Joe Haden says he'll be careful with his money”
  1. onlymyopinionmatters says: Aug 7, 2010 12:09 PM

    You could always do what Saint Tebow does. Make extra money by charging kids $160 for autographs and call it “donations”

  2. mr_snrub says: Aug 7, 2010 1:11 PM

    If people are dumb enough to want an autograph then people deserve to be charged money. And Tebow was paid a flat fee to appear. The promoter or event holder set the price and charged it.

  3. edgy says: Aug 7, 2010 2:53 PM

    I know that everyone wants to talk about these players as if they’re stupid and don’t know how to keep a buck but let’s look at the fact that some studies of bankruptcy for EVERYONE says that the number one cause has to do with medical bills (Part of it due to not being insured at the time of an illness and the rest because they had gone past their lifetime coverage and had to foot the bills themselves).
    Yes, there are guys out there that are pissing their money away but there are others who don’t have the money to take care of THEIR injuries after they run out of the “fishes and loaves” coverage that “golongboyee” says that they get but WON’T prove.

  4. jediwrstlr says: Aug 7, 2010 3:21 PM

    um, he may plan to keep his money, but can someone teach him basic english?
    Oh, and lets not foreget VICK….highest paid player….still taking loans, and defaulted on them.

  5. DingyHarry says: Aug 7, 2010 11:49 PM

    JoeJoe better get himself some bionic legs with the 25 mil cause T.O. and Ocho are gonna be taking his slo butt to the bank.

  6. brownsman says: Aug 9, 2010 5:09 PM

    If you people are so against the Browns and their players, why in the hell are you on here. Go back to your teams that Im sure your with because they won a Super Bowl lately and leave your comments there. Thanks so Much!

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