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  • CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

    AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

    Excerpt: "Dear Players:


    I hope this finds you well. Like you, I hope this dispute is resolved in a
    timely manner and that the damage is temporary and minimal. That said, you could
    go a long way towards ensuring that's the case.




    I know in recent weeks some of you have gone public with your thoughts on the
    current state of things. For the most part, this has gone well and I applaud
    your efforts.



    I especially commend those of you who have tried to soothe the fans' angst by
    admitting that the specter of rich people fighting wealthy people over money is
    just absurd. "It's never a good look for the fans to have the players and the
    owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it
    worked out as soon as possible and get back playing." Vilma is absolutely right
    in his approach. Keep the focus on the fans. Tell them you're well aware of the
    fact you make a living playing a game and that, in any context, this dispute is
    nothing short of offensive.




    But you should also know that this won't always ease the fans' pain. See, a
    lot of folks are bitter, angry and disillusioned. They're out of work and being
    forced to make painful lifestyle changes at a time when they should be enjoying
    the fruits of a lifetime of labor. These people don't want to hear anything
    about the "business of the game." As far as they're concerned, there is no
    business. They don't go to games because they can't afford tickets. Their
    experience comes through the screen. For them, 'ball is escapism, nothing more.
    So keep it positive, but at this point don't expect to change anyone's mind.




    Derrick Mason's recent statement, in which he called Roger Goddell a "joke,"
    is an example of what not to do. In one sense, it's bold and daring and
    frightfully candid. In Mason's case, it's not a totally bad idea. For him the
    risk is minimal because, at 36 years old, Mason is at the end of his career. So
    he can afford to exit in a blaze of controversial glory.




    Athletes who make audacious statements in regards to the league are often
    praised for their so-called "objectivity" and rewarded with plum media
    opportunities. But I would advise against doing what Mason did. The commissioner
    isn't a former teammate, coach or some expendable player; he's part of a more
    broad and unforgiving framework of power. So any attacks on him will be seen as
    an attack on all executives. Like I said, right now, it's better to focus your
    energy on the fans' concerns.




    And that reminds me: I suppose this should be aimed at black guys in
    particular, but all references to slavery should be avoided altogether. While I
    appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor
    practices, he has to find a better way to reach his audience." Read more...

    CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

    Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams
    have already sought out extremely aggressive short-term loans with high interest
    rates, ThePostGame.com has learned.


    According to a financing source, these interest rates range from 18 percent
    to 24 percent, and upon default, they can rise as high as 36 percent.




    All of this comes as the NFL Players Association announced nearly two weeks
    ago it would begin payouts from its war chest -- a lockout fund designed to help
    keep players afloat during the work stoppage. But while that lifeline was
    created in part to keep opportunistic lenders at bay, the finances offered by
    the NFLPA -- as much as $60,000 for some players -- wonít solve all financial
    ills. And much to the chagrin of some members of the union, the high-risk loan
    market has begun to attract players.


    "There are a lot of people out there pitching these things," an attorney who
    has advised players on such loans told ThePostGame.com on the condition of
    anonymity. "Itís almost predatory lending. It's people going to guys who they
    know are already in debt, or donít have the ability to pay their bills during
    the year and [lending them money] at such obscene terms, that you say, 'Hey, no
    one would ever sign something like this.' But a lot of players are." Read more...
    ďNever argue with an idiot. They will only bring you down to their level and beat you with experience.Ē MB Rule # 1

  • #2
    Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

    [quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

    Excerpt: "Dear Players:


    I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




    I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




    I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




    But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




    Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




    Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




    And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

    CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

    Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


    According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




    All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.

    "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millionaire to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guaranteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this

    Comment


    • #3
      Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

      [quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

      Excerpt: "Dear Players:


      I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




      I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




      I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




      But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




      Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




      Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




      And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

      CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

      Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


      According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




      All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.

      "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

      They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
      ďNever argue with an idiot. They will only bring you down to their level and beat you with experience.Ē MB Rule # 1

      Comment


      • #4
        Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

        [quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

        Excerpt: "Dear Players:


        I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




        I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




        I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




        But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




        Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




        Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




        And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

        CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

        Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


        According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




        All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.




        "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

        They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
        [/quote]




        Yes but dont they get paid during the season. Its not like thye get 52 seperate checks. So they shouldnt be getting paid now anyway

        Comment


        • #5
          Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

          Why do you think that? Or, what has told you that? I'd be surprised if that was the case.

          Comment


          • #6
            Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

            NFL players are wealthy. There's nothing wrong with high interest loans for the wealthy cause they all know whose going to be the "bailout" if it had to come to that anyway.

            Comment


            • #7
              Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

              [quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

              Excerpt: "Dear Players:


              I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




              I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




              I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




              But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




              Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




              Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




              And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

              CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

              Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


              According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




              All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.




              "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

              They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
              [/quote]




              They have a far greater opportunity to save and invest. Plus, they've known this day was coming for a few years.




              More evidence that pro athletes (for the most part) are nothing but overgrown children.

              Admit nothing. Deny everything. Make counter accusations.

              Comment


              • #8
                Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                I'm sorry, but anyone making that kind of salary is simply a fool to incur debts that severe.

                And these guys think they deserve to be equal business partners.


                Overgrown children is right.

                Comment


                • #9
                  Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                  Eagles players are hitting up their rookies for loans

                  http://profootballtalk.nbcsports.com...for-100k-loan/

                  For sure these guys are not getting paid for their business acumen


                  Comment


                  • #10
                    Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                    This tells me that the players will eventually cave-in.

                    Comment


                    • #11
                      Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS



                      http://www2.tbo.com/content/2008/jul...d/sports-bucs/




                      This is how players get paid and as I thought they only get paid during the season. So if they werent planning on having cash come in anyway then what the F. The only players that get paid are ones with roster bonuses built in like Andrews for instance.




                      Next to Sunday, Friday is probably every NFL player's favorite day - payday. But, because players are paid every other week and only during the regular season, there are only nine paydays per season. On eight of those, players get paid for two weeks. On one, they are paid for one week.

                      Comment


                      • #12
                        Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                        [quote user="Redeyejedi"]





                        This is how players get paid and as I thought they only get paid during the season. So if they werent planning on having cash come in anyway then what the F.





                        [/quote]

                        I'd bet a bunch of players get these loans every off season....its just the the risk for the lenders is much higher now , driving the rates way up


                        Comment


                        • #13
                          Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                          [quote user="Morehead State"][quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

                          Excerpt: "Dear Players:


                          I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




                          I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




                          I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




                          But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




                          Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




                          Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




                          And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

                          CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                          Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


                          According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




                          All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.




                          "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

                          They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
                          [/quote]




                          They have a far greater opportunity to save and invest. Plus, they've known this day was coming for a few years.




                          More evidence that pro athletes (for the most part) are nothing but overgrown children.

                          [/quote]

                          No argument there.
                          ďNever argue with an idiot. They will only bring you down to their level and beat you with experience.Ē MB Rule # 1

                          Comment


                          • #14
                            Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                            [quote user="Redeyejedi"][quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

                            Excerpt: "Dear Players:


                            I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




                            I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




                            I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




                            But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




                            Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




                            Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




                            And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

                            CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                            Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


                            According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




                            All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.




                            "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

                            They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
                            [/quote]




                            Yes but dont they get paid during the season. Its not like thye get 52 seperate checks. So they shouldnt be getting paid now anyway

                            [/quote]

                            I'm only guessing now, but it seems they can get paid all through the year or why else would they need loans now? It could well be that they can elect when they want to get paid. Perhaps someone actually knows this answer. I didn't post this to get sympathy for the players but to show how little these millionaires, at least some of them, know about managing their money.

                            How many of those shows have we all seen where a single guy lives in a mansion with five or six high priced cars. They seem to have holes burning through their pockets.

                            I blame their agents, in part, for not setting their clients up with financial advisers.
                            ďNever argue with an idiot. They will only bring you down to their level and beat you with experience.Ē MB Rule # 1

                            Comment


                            • #15
                              Re: CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                              [quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"][quote user="Redeyejedi"][quote user="RoanokeFan"]AN OPEN LETTER TO NFL PLAYERS ON HOW TO PUBLICLY DISCUSS THE LOCKOUT

                              Excerpt: "Dear Players:


                              I hope this finds you well. Like you, I hope this dispute is resolved in a timely manner and that the damage is temporary and minimal. That said, you could go a long way towards ensuring that's the case.




                              I know in recent weeks some of you have gone public with your thoughts on the current state of things. For the most part, this has gone well and I applaud your efforts.




                              I especially commend those of you who have tried to soothe the fans' angst by admitting that the specter of rich people fighting wealthy people over money is just absurd. "It's never a good look for the fans to have the players and the owners arguing over money," Jonathan Vilma said, "and so hopefully we can get it worked out as soon as possible and get back playing." Vilma is absolutely right in his approach. Keep the focus on the fans. Tell them you're well aware of the fact you make a living playing a game and that, in any context, this dispute is nothing short of offensive.




                              But you should also know that this won't always ease the fans' pain. See, a lot of folks are bitter, angry and disillusioned. They're out of work and being forced to make painful lifestyle changes at a time when they should be enjoying the fruits of a lifetime of labor. These people don't want to hear anything about the "business of the game." As far as they're concerned, there is no business. They don't go to games because they can't afford tickets. Their experience comes through the screen. For them, 'ball is escapism, nothing more. So keep it positive, but at this point don't expect to change anyone's mind.




                              Derrick Mason's recent statement, in which he called Roger Goddell a "joke," is an example of what not to do. In one sense, it's bold and daring and frightfully candid. In Mason's case, it's not a totally bad idea. For him the risk is minimal because, at 36 years old, Mason is at the end of his career. So he can afford to exit in a blaze of controversial glory.




                              Athletes who make audacious statements in regards to the league are often praised for their so-called "objectivity" and rewarded with plum media opportunities. But I would advise against doing what Mason did. The commissioner isn't a former teammate, coach or some expendable player; he's part of a more broad and unforgiving framework of power. So any attacks on him will be seen as an attack on all executives. Like I said, right now, it's better to focus your energy on the fans' concerns.




                              And that reminds me: I suppose this should be aimed at black guys in particular, but all references to slavery should be avoided altogether. While I appreciate Adrian Peterson's efforts to discuss the complicated nuances of labor practices, he has to find a better way to reach his audience." Read more...

                              CASH STRAPPED PLAYERS SEEKING HIGH INTEREST LOANS

                              Excerpt: "As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.


                              According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.




                              All of this comes as the NFL Players Association announced nearly two weeks ago it would begin payouts from its war chest -- a lockout fund designed to help keep players afloat during the work stoppage. But while that lifeline was created in part to keep opportunistic lenders at bay, the finances offered by the NFLPA -- as much as $60,000 for some players -- wonít solve all financial ills. And much to the chagrin of some members of the union, the high-risk loan market has begun to attract players.




                              "There are a lot of people out there pitching these things," an attorney who has advised players on such loans told ThePostGame.com on the condition of anonymity. "Itís almost predatory lending. It's people going to guys who they know are already in debt, or donít have the ability to pay their bills during the year and [lending them money] at such obscene terms, that you say, 'Hey, no one would ever sign something like this.' But a lot of players are." Read more...[/quote] Seriously what are these guys doing that they need short term loans. If u have a huge contract u should not be having finical difficulty this fast and if you have a smaller contract you shouldnt be living like a multi millonare to the point u need money floated to U. What I dont understand is dont NFL players get paid weekly by game checks during the season. So why would they expect to have cash coming in now anyway.Some players get guarenteed bonus money on the first day of the league year but not all contracts are written like that, Im puzzled by this[/quote]

                              They have the same issues we'd have if we were laid off. Mortgages, loans, car payments, etc. Same stuff, different level. They get paid big and the live big.
                              [/quote]




                              Yes but dont they get paid during the season. Its not like thye get 52 seperate checks. So they shouldnt be getting paid now anyway




                              [/quote]

                              I'm only guessing now, but it seems they can get paid all through the year or why else would they need loans now? It could well be that they can elect when they want to get paid. Perhaps someone actually knows this answer. I didn't post this to get sympathy for the players but to show how little these millionaires, at least some of them, know about managing their money.

                              How many of those shows have we all seen where a single guy lives in a mansion with five or six high priced cars. They seem to have holes burning through their pockets.

                              I blame their agents, in part, for not setting their clients up with financial advisers.
                              [/quote]




                              Seems the majority justget paid during the 17 weeks of the regualarseason....of course excluding playoff money and signing bonus contracts




                              And good point.....is it not part of agents job to at least set these guys up with someone who can assist in their financial future?




                              http://www.cantonrep.com/world/x1992...ayers-get-paid

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