Mike Vick Cartoon!60% of Nba Go Broke?Feb 23 Big Party Dc

Must be at this party..You know I am going....

Do 60 Percent of NBA Athletes Go Broke Five Years After Retirement? An Ex-Player Says Yes
Date: Tuesday, February 12, 2008
By: F. Finley McRae, BlackAmericaWeb.com

Officials representing the National Basketball Association and the organization that speaks for its players have strongly disagreed with an explosive Toronto Star article alleging that 60 percent of them "go broke" five years after retiring.

The article, printed in the newspaper's Jan. 31 issue and written by Star sports writer David Feschuk, was based on a statement reportedly made by former NBA player Roy Hinson.

In a recent meeting with NBA players, according to Feschuk, Hinson said that "60 percent of former players who go broke is a ballpark, but we've seen a lot of guys who've really come into hard times five years after they leave the league."

At least 75 percent of NBA players are African-American.

NBA players' salaries average $5.6 million a year. The league is comprised of 30 teams, each with 12 men. There are approximately 360 NBA players, excluding the ones who replace injured men during the season.

If the 60 percent figure is accurate, some 216 current NBA players will go broke not long after they retire, despite collective earnings of more than $1.2 billion during the 2007-2008 season and additional billions during their careers.

At age 62, NBA players become eligible for a lump sum pension of approximately $1.4 million. They must spend three years in the league to draw monthly pensions which pay $380 every 30 days or, after 10 years, $9,000 to $10,000 each month. In addition, all 30 teams match 50 percent of the funds players pay into 401-K retirement accounts.

I hope this is not the case.....If so thats sad..



The Game going to Prison for 60 days....



This is to funny.....And sad...LMAOF!!!