Ravens will garnish half of McKinnie’s net wages

AP

Ravens tackle Bryant McKinnie won’t be working only for himself this season.  He’ll also be working for Pro Player Funding.

According to the Baltimore Business Journal, the Ravens will withhold half of McKinnie’s net compensation this year and send it to the lending agency to which McKinnie allegedly owed a whopping $4.5 million.

McKinnie borrowed the money during the lockout — and presumably spent it.  When he missed a payment and the full amount came due, the company filed suit.

Per the report, the lawsuit was settled on July 17.  The agreement provides that Pro Player Funding will receive half of the net on McKinnie’s $3.2 million salary, and half of any future earnings from the Ravens.

The lending company will undertake no other effort to enforce or collect the money.

It’s unclear whether, if McKinnie is cut and signs with the new team, the garnishment obligation will continue.

If that’s the case, it could explain why McKinnie was three days late to training camp.  If he could have gotten the Ravens to cut him and if he could sign with a new team and owe the lending agency nothing, McKinnie could have potentially come out ahead elsewhere.

56 responses to “Ravens will garnish half of McKinnie’s net wages

  1. I still want to know WTF he did with the 4.5m loan for wages he never missed. Seriously, what is it he has to show for it? Usually, it is easier to seize assets than garnish wages. Does he really have nothing of value?

  2. Another perfect example of why high schools should have mandatory personal finance classes. He just doesn’t understand how to manage money even at the most elementary level.

  3. The guy is an idiot, always has been and always will be. He doesn’t play football cause he loves the game, he plays it cause he can. Its something to help pay for all the food and partying in the clubs.
    It is too bad, he has a ton of talent but no passion.

  4. Guys like McKinnie keep spending “next” year’s salary this year- they gotta stop supporting the entourage, stop buying $150K gold earrings with a resale value of $30K, and realize that they’ve got a tremendous opportunity to have lifetime financial security, if they only rein in their financial irresponsibility 2-3 years before they retire.

  5. Don’t these guys know what the word “savings” means? Just because you have the money doesn’t mean you should spend it all. The lockout lasted a few months, right? What the heck was he doing that he needed 4.5 million dollars in that time, and as the article said, “presumably” spent it?

  6. How in GOD’S name could he ( or anyone ) have spent 4.5 MILLION during the lockout? How does one obtain that kind of credit line? I thought he was merely a simple ( and I mean SIMPLE in every sense of the word ) glutton. It appears as though his gluttony in not reserved for food alone!! Apparently the stories of bankrupt and broken NFL players is not reserved for the retired alone. Just when you think you have heard, read or seen every permutation of stupidity and reach exceeding grasp, another pro football player steps up to the plate and corkscrews himself into the ground swinging for the seats!!

  7. Is there a video? I would pay to watch a video of him spending all that. And that would be a great way to help pay off the debt. Next time…

  8. note to backuppunter: check if he had a job (he did, with the Vikings) before you try to make fun of McKinnie

  9. As a Ravens fan, I am so sick of this guy. Out of shape, not at practice, sets a bad example on and off the field…give me a break. Just move Oher over to LT and cut him. Dude is the total opposite of what it means to Play Like A Raven.

  10. For the life of me, I’ll never understand how these fools making millions upon millions of dollars can’t find the brains to keep any of it.

    I make 14 bucks an hour and live quite happy.

  11. Hold on… I don’t remember his rookie deal numbers but I do know that in 2006 he got a 7 year extension worth 48 million. He received most of that money plus, I’m guessing at least 20 mil more between his rookie deal and Ravens contract. How is he broke? Because he’s lazy and dumb. He showed up overweight every year, he missed his only probowl because he didn’t feel like going to practice, and now he managed to blow over 50 mil in less than 15 years. Winner.

  12. OOO about 5 to 10 yrs from now i see a Real Sports interview with Gumbel and his condescending a#$ starring Bryant McKinney set your DVR now people!

  13. Having a lot of money is harder than being broke. Unless there is someone in your life you can fully trust, having millions after being poor is it’s own kind of hell: your “friends” get mad when you don’t wanna take the crew out for the nite(on your tab, of course).

    Women and goldiggers will kknow who you are and make you feel like your special while the spend every cent they can get their hands on. Then, when the money runs out, so do they- usually to your buddy who just got a fat contract.

    Your uncle Billy tells you he’s good with taxes and accounting and would be glad to hook you up on some hot investments and where to deposit your stacks and- oh, yeah: just sign this “Power of Attorney” thing real quick- it’ll make it a lot easier for uncle Billy to “take care” of those investments.

    Before you know it you’re broke, uncle Billy disappeared and so did your Jag, your g/f and $450,000 in cool cash. You got nowhere to sleep, no ride, no money, bad credit and you’re too ashamed and embarrassed to tell your teammates or coaches so you just keep screwing up and get benched.

    And RIGHT THERE is where you either become a man and start at zero, working hard to get back to being a good player. Or, you fall apart and regress into childish anger and blaming everybody else.

    The choice is yours; it always was and always will be. Pick the hard road; doing the right thing is never easy and doing the easy thing is NEVER right.

    Can ah get an a-men?

  14. I just don’t understand and never will. How hard is it to say if you don’t HAVE it, don’t SPEND it?

  15. Is it possible he pi$$ed away the $4.5 loan AND $4.5 salary? I sure hope some liberal sports media doesn’t expect us to share sympathy for this fool once he’s out of the league and homeless. Maybe he can get a job working on a Minnesota lake cruise ship!

  16. Given the financial history of most football players, what kind of lender would loan a player $4.5 million and expect to get it back?

  17. What if half what he makes in an any future Ravens contract exceeds what he owes, are they going to take that too? Story wasn’t very clear.

  18. McKinnie never did have any morals much. From the Love Boat to fights to not paying your debts. If this guy was not a huge monster and gets to play pro ball, he’d be in jail. Useless. BTW, what happened to old school when everyone paid their debts as they felt responsible???

  19. Give the guy a break, hes only following after the example the President of The United States has set for him. “I dont have anymore money to spend so I will just print more and borrow it from China”…..5 TRILLION dollars later…….w00ps!!

  20. eleventyeight: An accurate and sadly, continuing problem with professional football players. The truly baffling aspect is that the last chapter has not been written . Today alone, TO, Plax and Sapp are in the news for stories and all of them eventually come back to money woes, and yet, how many of this year’s rookies arrive, arm in arm with baby mammas, extravagant tastes and a large cadre of relatives and “close friends,” poised to sign a contract that will set them up for life, much like the previously mentioned players above? The salient question is : How long will the behaviors/choices guaranteed to lead to bankruptcy and abject failure continue? When will these players use the preceding patterns before their eyes to their advantage rather than following, lemming-like off the cliffs?

  21. I agree with most of the prior post about what a D*#che Bag of a person Mckinnie has been in the past, but left out of the story is that he is the owner (or part owner) of a record label that he is trying to establish .Maybe the loan was to help keep his business going? Successful or not it is an attempt at a life after football. On a POSITIVE note he has never missed a game due to injury and played great vs the Steelers pass rushings LBs (best in league) twice last season. I love the rookie KO @ Rtackle and Oher @ Ltackle so he is an expensive backup but a solid backup!

  22. I’m not quite sure on the exact numbers, but Hunter Smith said in his book “the Jersey Effect” that something like 78% of all NFL players are bankrupt and divorced within 2 years of retirement…

    These guys get the world handed to them from the time people discover that they have NFL talent and they’ve never had to take any kind of responsibility for themselves… It’s sad, because this type of success essentially reveals their character flaws, and in Bryant’s case, it’s on display for all to see. I hope he figures it out soon. He doesn’t have many more years in the NFL, at which point he’s going to have to get a real job or live off of whatever he didn’t spend.

  23. He fits in well with the city of Baltimore. That isn’t a knock on the Ravens at all. As a team I love what they do and the blue collar way the handle things on the field. But the City of Baltimore is a waste land taken over by people cut from the same clothe of McKinnie. People looking to avoid responsibility while siphoning anything and everything they can. I wonder if the team knew was trying to get cut to avoid the multimillion dollar hit.

  24. Did you all not realize that he just borrowed $4.5 million and settled a year later for an amount between $1.6 million and zero? He got more than $3 million for nothing.

    He’s probably a schmuck, but isn’t there a chance that he’s more brilliant than all of us– borrowing money and then stashing it away?

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