OT: Kentucky One and Done has a nice Ride
- Thread starter ufo33
- Start date
So you are saying it's okay if a recruit is promised a McLaren as long as he doesn't take possession of it until after the season is over? I would be pretty surprised if the NCAA hadn't thought of that loophole.
What I'm saying is that he's going pro and will be making millions of dollars. He probably got loaned money based on that. It happens in both sports and business. The NCAA has thought of this, he at very least risks eligibility and probably loses it. If he plans on never playing in the NCAA again (he doesn't) losing his eligibility in this way isn't a big deal to him. What makes you think he's getting it for free?
Im sure it isnt hard for a guy w a multi-million dollar payday ahead to get $300k fronted at a high payback rate...
Hell, there are stores like that all over Indiana that front people’s bills for a large portion of their next paycheck...
Hell, there are stores like that all over Indiana that front people’s bills for a large portion of their next paycheck...
Maybe. But he hasn't actually been drafted yet right? Most banks don't make loans based on income from jobs you don't even have yet. But maybe he's doing a typical pro athlete thing such as paying the interest rate on a loan that would be made under those conditions.
Not necessarily a bank. I've heard of individuals (agents, for example) loaning money to athletes they know will be drafted.
What this car says about the kid is that he's probably not mature enough to have a ton of money. I wouldn't be surprised to find out he's broke not long after his playing career is over.
Unless you come from money, or are in maybe a 5% category.... You get promised millions at 18 you are making retarded decisions. Those memories might just be worth it if you don't go broke. YOLO baby
Ever see or hear about the Hummer LeBron's mom drove while he was in HS? Banks will loan based on future earnings. Ever get a mortgage? Thats also an example of a bank loaning money based on projected future earnings .
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Focusing just on money will make it certain that you lose it. The key is to see money as a tool. Too many of these lottery winners end up broke. We wonder why, how can they do this? The problem is they are just focusing on the money to spend it.
Proverbs 23:5 says When you set your eyes on it, it is gone. For wealth certainly makes itself wings Like an eagle that flies toward the heavens.
Other young players see this and want this for themselves someday. When the only wealthy people that they may see in bad neghborhoods are getting money from illegal or criminal means, at least he is using his athletic gifts in a positive way to earn money, or in this case to (hopefully) get loaned money by someone who then owns his contract megotiation rights as his "agent". Many unsavory characters are out there waiting and ready to pounce on these talented but naive young athletes, ready to make a quick buck off of a teenager who has no sense of money management or purchasing restraint. This is a perfect example of a Calipari recruit. This is the life of luxury that Cal is selling them as if he is the only college coach with inside NBA connections. However, if he took the $300,000 and instead of wasting it on a McLaren he invested it wisely instead, he could have a ballpark figure of around $5 Million dollars to retire on if he just let his money draw compound interest and grow in the stock market. His UK education must not have included money management.
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Buying a $300,000 McLaren before he even gets drafted and signs his first NBA contract is almost up there with Lenny Bias over celebrating with friends and dying of a cocaine overdose right after being drafted by the Celtics.
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Personally, I think McLaren should make him pass a lap time test to allow him to drive a car like that, but that's just me.
One thing is for sure, the NBA should cut rookie salaries by about 80% and make these guys actually earn something.
One thing is for sure, the NBA should cut rookie salaries by about 80% and make these guys actually earn something.
And then "own" him as his contact negotiator. These agents prey on these kids like the Devil at The Crossroads.
Well, if he's dumb enough to pick a $300,000 car at 19, then I don't think he stands much chance in making good financial decisions on agents.
Ya he didnt buy anything. Maybe a lease or someone elses vehicle. KJ comes from a good solid family. All these guys get solid coaching on finances before leaving UK. UK has hundreds of millions of dollars in contracts floating around the NBA. KJ has plenty of solid people helping him wade through the beginning of his career. You get a sighning bonus with your agent. I dought it would be anywhere near three hundi thousand. KJ is a good smart kid. Some of the comments are unfair.
Depends on the person focusing on money. If you are an idiot, like most of these 18 year olds, you are not going to make the best decisions with your money. Most of these kids were special admits and have one year of gardening101 and tutors doing their work for them.
Now, I know plenty of 50+ year olds that have focused on money their entire life, and have millions. The key has nothing to do with seeing money as a tool. It depends on priorities, intelligence etc.
Of course with a home mortgage, the bank still controls the home as an asset. If you don't pay the bank takes ownership of the home. And, for a car, if the payment isn't made, the bank takes the car.
I believe twenty thirty years ago most of these young guys came from nothing. Had no one as a mentor, unless hanger ons and shady guys from the hood. To help with managing millions. Today. A little different. The NBA and NFL help prepare these guys. Plus. A lot of these kids are coming from solid foundations. And have been preparing for this. I dont think the issue is managing the money today. I think the issue is greed. Using a kid and pushing him to fast to get those millions. Most guys we look at as busts in all sports. Are still wealthy. Guys dont live up to the expectations on the court. We all say failure. But. His finacial expectations get hit. Thats my issue. Its backwards. Guys should want a list of accomplishments in their field, with that fat bank account. Just not like that. The lure of money robs the kid of reaching full potential in coll and pro. But i guarantee you. Most are good with that. Thats the part i hate. And by the way. KJ is a honor student. Has been since the fiftg grade. Does his own Homework.
I’m not the grammar police but dude, come on! At least make it readable! I think you had a legit thought going on there but you typed dribble. Yes, kids are used by the people around them and that’s how a lot of them end up broke. They should hire a legit firm to handle their money and have accountants monitor what they’re doing as a safety net. I would have 3 or 4 safety nets if I were that rich while also educating myself and staying on top of everything myself as well.
Way cheaper than that, I have done it in Vegas a few times. 500 for 6 hours about 5 years ago, prices have dropped. Maybe a G for an over night $2500-3500 for a week.
That may all be true, but how many classes do you think this kid has attended since December? How close is he to earning a diploma ? In fact, how many of those UK OADs didn't set foot in a classroom the entire 2nd semester ?
I'm not knocking the kid for seizing the opportunity. The rules not only allow it, they encourage it. But it still makes a mockery of the whole concept of college basketball.
I remember hearing that Patrick Ewing didn't spent much money and was made fun of by other players. I can't remember the player, it might have been Gordon Hayward who had a regular car. He was made fun of. So there is social pressure to spend. Guys like Antoine Walker who made 90 million are broke because they were not paying attention to where their money was going, plus being frivolous in investments like Scottie Pippen.
UK players get paid, there is no doubt. About three years ago, I traveled to Chicago to train a lady for my business; her son was a top high school player who had played with Anthony Davis in several events and was a great friend of his. She said in no uncertain terms that there was "no way" Davis didn't get paid to go to UK.
A friend of mine, her son played for a mid-major, and left for a Pac 12 school - his stipend was greatly increased, and got a bonus for each semester gpa.
He was getting paid over $2400 a month from his new Pac12 $ - but did have to pay his rent from it.
Thats a ton of money for a typical college kid, considering his food plan and basically his clothing were also provided free of charge.
The Pac12 Football money was the big difference vs the Witchita St money.
When people think college athletes arent paid, they are wrong.
Im pretty sure they have to finish off the semester strong. If they dont. UK gets penalized. Only one player stopped going to class and didnt finish after declaring. That was Daniel Orton. The BBN and Cal pretty much told him to never return. The untruths about guys leaving early are all over. Even Knight made his comment about UK and ONDs not going to class the second semester. Cousins came out and corrected Knight. Its all public knowledge. You can see there classes, grades. Its all open information. People just refuse to believe guys like Wall ,Patterson and even Bledsoe take advantage of the UK life time scholly. And come back to work on graduating. Good kids good families. I can run you a list of names Cal has had here. Most were already honor role students before we started recruiting them. Bledsoe and Noel are the only two I know that had serious issues in HS. Noel had a serious learning disability, and Bledsoe lived in a car with his mom n two brothers his frosh and soph years of HS. I do believe Cal and UK have no reason to recruit questionable kids. Plenty of good talent and people available for UK.
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I’m sure he is taking on line courses from Hollywood, or he will be back in class Monday..
The season has been over for a month and the kid signed with an agent and they fronted him the money. Happens all the time. UK had nothing to do with this.
Maybe he is finishing up on line? He may be back on Monday? All im saying is he has a responsibility to do something that he has completed since he was a young man. UK expects and BBN expects him to. Most of all that group of young men making millions in the NBA expect him to take care of business. Its laughable that a kid from a young age has taken acadimics and education serious. That some of you question if he will all of a sudden screw his University. But everything he has done to get to this point. Im not sure. But hasnt IU had some issues with guys leaving early and not finishing their classes? Thought i had heard Archie was hit wirh Creans past players not finishing classes and screwing IU. UK has had one in Cals time. That guys has never been back. And probably wont step foot in Ky. You wanna leave after a year. Fine. But BBN will thrash you if you leave and leave the school with garbage. Half already have issue with the OND stuff. Cal wouldnt last if these guys didnt go to class. The old timers would run him outa town.
I can’t believe you would use an insensitive word like retarded! Don’t you have any feelings for the mentally challenged?
I think that's likely it, and really don't see what the big deal is, unless someone has proof of something underhanded. My best guess is his agent arranged it for him and it was a loan/rental. It's good PR for the agent... he tells potential clients, "did you see what my boy KJ was driving before the draft? Wouldn't you like that to be you?" Nowhere did I see where he actually bought the car. That would merit further questions and investigation.
I think even if he bought the car it's not worthy of investigation unless it is shown that it happened before or during the season. Or promised by someone connected to the school. I personally don't think it is either of those things and agree it's a not an issue. Good point about the PR for the agent.
I would think if a college athlete bought a $300K car before he was drafted, that would at least merit investigation. I just doubt that's the case and think it's far more likely his agent arranged for him to have a nice car to be seen in. Kids drive nice cars to prom too, but no one ever thinks they actually went out and bought them.
