Agent Tells a Story About a NFL Rookie Who Spent $1 Million in a Month

Jenna Shea Cash

You shouldn’t be surprised, especially if you have read BSO for a while. But if you need anymore proof on how an athlete making millions of dollars can end up broke, read this story from an agent courtesy of Bleacher Report.

I know a former player who was a first-round choice before the current rookie salary cap. His signing bonus alone was north of $10 million.

That player had grown up hard, and his family didn’t have a lot in terms of material positions. To him, that bonus was more money than he would ever spend in his lifetime. So he did what any 21-year-old would do: He blew through a million dollars in a month.

He flew girls into town from all over the country. He ate out every night and took eight to 10 people with him. He bought clothes, shoes and hats in triplicate. Instead of renting an apartment or buying a home, he decided to stay at the Ritz for his entire rookie season.

The crazy part about ripping through those million dollars in a month was that—later, when he was telling me the story—he said he had nothing to show for it except receipts, and sometimes those were hard to come by.

He didn’t name the player, but I am sure it has happened to plenty. When you are young, you want to live the Jay-Z life “Money, Cash, Hoes”, not realizing Jay-Z made a lot of sound investments along the way.

I always remember the comedic skit from Eddie Murphy talking about “HALF”. He was using Johnny Carson $300 million as an example. Doesn’t matter how much you got, if you blow through quickly, it hurts. If I have $1000 for the next two weeks and spend $500 today, that’s a problem.

These kids think they can play forever, but the reality is no matter where they are drafted their shelf life is brief, so spend accordingly.

3 thoughts on “Agent Tells a Story About a NFL Rookie Who Spent $1 Million in a Month

  • I bet my next paycheck that this same mistake will be repeated by athletes over and over again for the next fifty years. I advise these young athletes to learn from the mistakes of Mike Tyson, Antoine Walker, Terrell Owens and the rest of those guys on ESPN 30 for 30 broke!
    By the way, Antoine Walker used to date Evelyn Lozada. I’m not making this up.

  • bso is silly and so is this guys comment. you are a loser if someone who doesn’t know how to read, needs your help and you don’t help them read. If I wanted to buy something from you didn’t understand money but had alot of it would you take more of my money or only take the price of the product i want and no more and educate me? We are all quick to point the finger but who is here to help? the funny part of this is, who is the agent? I have never ever heard a broke player’s agent step up and say i represented this guy. People they have power of attorney. How about this conversation kid you don’t understand money at 20 years old I am a 40 year old man, You man not like this but you will understand later. another thing he was taking people out to eat, understand this bill gates, warren buffet are not shelling any more for you, unless it benefits them. They actually want the population down!

  • Anon-
    A fact warren buffet ,in the event of his demise will give a large portion of his money to the homeless shelters across america.That is in his will.I study richie people daily.The last thing they wont is our population down.A low population does not generate revenue.The same can be said about a poor economy.No one teaches you about money.the truth is you have to do it for yourself.You have to educate your kids (as i do mine already).You have to re-eduacte yourself and your wife.I am 32 and i have been savign since i was 20.I make a lot of money b/c i study those who made money before me.I have 40 employees at my regular job.I have 4 at my personal own buisness.I grew up where there were no oppurtunities.I thought myself about money no diffrent then these athletes should educate themselves.If you wont sometheing in life no one is going to give it to you;you have to take it.I wish you all the success and understanding in the world…. bruh

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