Money Confidential
— -- It's 2014, and we've now seen decades of bankrupt athletes who serve as cautionary tales for current athletes. Recent examples such as Jack Johnson and Tyron Smith have to be anomalies, right? Not so much, based on a recent Confidential survey of 37 pro athletes from the four major sports leagues. In fact, most athletes we spoke with described a nonstop barrage of monetary requests from family and friends.
In the past year, how many times have you been asked for a loan by friends and family?
NBA player: "Actually, I don't get asked for loans. I just get asked, 'Can I have?'"
NBA player: "I don't give out very many loans anymore, because only about 20 percent got paid back. That was a painful lesson from my first year."
MLB player: "That's a major off-the-field problem for us with family and friends -- everybody is looking to get a little piece of you. Your salary is posted online, so everyone knows what you're making and thinks you're rolling in dough."
Of all the loans you have ever given out to family and friends, what percentage have been paid back?
NBA player: "I'd rather just chalk it up as a loss as soon as I give it to you."
MLB player: "I'd say about 10 percent. This year I have been asked for at least five loans. The smallest one was for $1,000. The biggest one was $12,000. They just assume you have money to hand out."
Do you agree or disagree with this statement: More money, more problems.
NFL player: "True. People see that we make a minimum of $500,000, and they're like, 'Oh God, you're rolling in money.' They always think you have money to hand out."
Yes or no: Having our salaries published causes major problems in athletes' lives.
NFL player: "Totally, especially on the social scene. I've seen people meet a player, then Google if he was even a football player. Everything comes up -- his latest contract, where he went to college."
Of all the loans you have ever given out to family and friends, what percentage have been paid back?
NBA player: "I'd rather just chalk it up as a loss as soon as I give it to you."
MLB player: "I'd say about 10 percent. This year I have been asked for at least five loans. The smallest one was for $1,000. The biggest one was $12,000. They just assume you have money to hand out."
Do you agree or disagree with this statement: More money, more problems.
NFL player: "True. People see that we make a minimum of $500,000, and they're like, 'Oh God, you're rolling in money.' They always think you have money to hand out."
Yes or no: Having our salaries published causes major problems in athletes' lives.
NFL player: "Totally, especially on the social scene. I've seen people meet a player, then Google if he was even a football player. Everything comes up -- his latest contract, where he went to college."