Quote:
Originally Posted by Underdog
Yeah, that's because players have different payment options when they sign their contract - most just get paid during the season, but some opt to have their money spread out through the entire year.
Caron was smart to spread it out during a lockout year...
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I'm consistently shocked by how poorly athletes manage their finances. Well, I guess I shouldn't be considering most of these guys never went to college and even if they did attend, weren't really 'attending'. Couple that with the fact that most of their advisers are more concerned with skimming than actual asset management. Think it's a huge, untapped opportunity for a well-meaning hedge funder or private equity guy to go in, form the equivalent of a CalPERS for the NBA/NFL/MLB/NHL, pool liquidity and get these guys consistent 12-18% per annum returns. Poorly managed car dealerships and housing projects in bumblef*ck are sh*tty investments. They would be no different from any other sophisticated institutional investor. Instead of hiring Lenny Dykstra, you hire a bunch of HBS grads with proven track records. And it'd be a sweet gig because us finance geeks would get to hang out with professional athletes. Hell, if no one's done this by the time I'm running my own shop I'll happily break ground.