What does NFL owe to retired players?

[Buckeye_Nut]

http://sports.espn.go.com/nfl/news/story?id=2901302
This details only one complaint of many concerning former players.... Has anyone been following the recent stories concerning retired NFL players verses the NFL???

This is just one of many former players complaining that the league has abandoned them in retirement? I for one.... think this is ridiculous!! The league owes them nothing beyond whatever pension they've earned!!

It was their choice to play this violent/physical contact game, and and they knew full well the toll this game would take on their bodies. Maybe they need to do a little less complaining, get a real job, and put that free college education to use!!

Am I being too harsh? Should the NFL support former players until death?

 

[avaserfi]

As a non-sports watcher I more than agree with you. Its a choice that they get paid way way too much for so they shouldn't ***** when they get "abandoned" with their poorly managed millions of dollars when they retire to do commercials and other endorsements.

 

[Audioholics]

It's primarily jealousy as they feel they "built up" the sport only to watch future players pull in millions of dollars each year - when they earned what amounted to a more typical salary back then.

Example - Joe Namath was paid a $427,000 3-year contract in 1965 to play for the Jets. That was the highest amount of money ever paid to an collegiate football player.

Compare that to the current rookie minimum amount which is somewhere around $285,000.

 

[mazersteven]

with their poorly managed millions of dollars when they retire to do commercials and other endorsements.

It is a "Fact" that many, many players do not make the money you think. Yes they make over 6 figures, but that isn't going to carry you for 40 years after your career is over. And anyone in there 20 isn't thinking about saving for retirement.

And $285,000 seems like alot, but it's not. And you guys have no clue about the taxes these guys pay out of that 285K.

 

[avaserfi]

It is a "Fact" that many, many players do not make the money you think. Yes they make over 6 figures, but that isn't going to carry you for 40 years after your career is over. And anyone in there 20 isn't thinking about saving for retirement.

And $285,000 seems like alot, but it's not. And you guys have no clue about the taxes these guys pay out of that 285K.

Anyone who is in their 20s and making 6 figures is an idiot not to think about retirement especially if they are playing a high-impact sport like football. I make virtually nothing compared to these players and have been saving since I was 13 and could first get a job. Ever since I had a job I have been saving some money from every paycheck, at least what I could for a rainy day and it has added up its one of the reasons I have my HT. If these role models can't scrounge up enough sense to set aside 20 grand a year when they are making nearly 300 a year they don't know how to manage their money and are not living within their means and I could show them its really not hard.

 

[jake5717]

What kind of taxes do they pay? About 35% of my check goes to taxes. Even if 50% of their salary went to taxes they would still be making about 4 times the average American who probably takes care of themselves after retirement.

 

[mazersteven]

Anyone who is in their 20s and making 6 figures is an idiot not to think about retirement especially if they are playing a high-impact sport like football. I make virtually nothing compared to these players and have been saving since I was 13 and could first get a job. Ever since I had a job I have been saving some money from every paycheck, at least what I could for a rainy day and it has added up its one of the reasons I have my HT. If these role models can't scrounge up enough sense to set aside 20 grand a year when they are making nearly 300 a year they don't know how to manage their money and are not living within their means and I could show them its really not hard.

And until your in their shoes you can't say what you would, or wouldn't do.

Just think your 23 years old making great money at any level. Your not thinking about what your going to do at 65. Your thinking about going out, purchasing toys (motorcycles, houses, cars, HT gear). You definitely aren't thinking about ending your career. And all of a sudden (PoP). You thought you where going to play for another 8 year.

Yes there guys are supposed to be educated individuals. Yes there managers, parents should have been looking after them. But this is life. Just look at it from both sides, and have an open mind.

 

[mazersteven]

What kind of taxes do they pay? About 35% of my check goes to taxes. Even if 50% of their salary went to taxes they would still be making about 4 times the average American who probably takes care of themselves after retirement.

And with higher incomes comes higher dept. You think if your income jumped 4 times what it is now you wouldn't spend more?

And I know how they get taxed.

 

[avaserfi]

Must be the way I was raised I see it as the players faults because of lack of futuresight. I bet if you look at the players who complain and those who don't it was most likely the ones who did blow all their money throwing the fit while the ones who invested wisely and had back up plans are living their lives.

I realize it can be hard but always living life now means you will screw yourself over eventually.

mazer: There is a difference between spending more and spending exponentially more. If I made 100 grand more a year it would be irresponsible to spend another 100 grand a year but if I currently live off of 70 percent of my salary and have a 100 grand increase if I started living off 50% I would be spending more and saving.

 

[jake5717]

I agree with avaserfi, must be the way I was raised (eerr my parents did a great job of showing me what NOT to do). Since I’ve been working 20% of my pay check went to savings. If my pay increased 4x my savings would increase 4x. I don’t feel it’s my employers’ responsibility to take care of me after I retire.

 

[Buckeye_Nut]

What I find interesting is they're making news out of a complete bum in attempt to demonstrate NFL neglect of former players.......

----------------------------------
Quote:
The NFLPA official said it also had lined up a job for DeMarco in Austin, Texas, but that he "no-showed."

A prominent ex-Jaguars player told ESPN that he and another former teammate "cringed" when they saw DeMarco appear at Monday's press conference. The ex-Jaguar did not want to be identified but said DeMarco has been given significant financial help by his former teammates, including three jobs "that he's blown."

"Now he's walking with a cane in front of cameras," the ex-Jaguar said. "Last time we saw him -- and it was in the past two weeks -- he didn't need a cane. He has some physical problems, yes, but there are other things going on there."
----------------------------

So basically, his current situation is self inflicted............. However, they're trying to make this slacker into a helpless victim of the NFL.

Secondly.......... Signing an NFL contract isn't a contract for lifetime security. It's a short term career, and players should understand they'll need to contribute to society and support themselves once their playing days have ended.

As for the old timers from generations ago and their quest for more dough??? What are they gonna do..... sue for back pay based on current high salaries? Unfortunately for them, their case is standing on two bum legs. (pun intended)

 

[Leprkon]

I personally think we have to look at it as an entertainment business, as we should all sports. If that's the case, it's no different than re-runs of Star Trek. Every time an episode shows anywhere in the world, George Takei and Leonard Nimoy ring up royalties. When the DVDs get sold, there's a check on its way to William Shatner's accountant. In my opinion, tt should be the same way for football. All the revenue for the ESPN Classic should not just go to the NFL, there should be royalties paid to the people who actually made the game. What happened to Mike Webster, along with all the other guys who had to sell insurance or whatever during the offseason, is about as criminal as it gets. The NFL leaches off them forever, but never hands back a dime.

I won'targue that the players need to take care of their finances, but sometimes agents screw them over, or they get sued, or whatever. The revenue stream does not stop for the NFL, so why should it stop for the players ?

It's entertainment, let's treat it like entertainment. The same should be for classic Richard Petty wins, George Brett homeruns, and Dr J dunks. After all, if we are still paying Tony Danza for re-runs, doesn't Richard Petty deserve something too ?


Edit: Maybe we should ask Metallica how THEY feel about it ????

 

[Adam]

It's primarily jealousy as they feel they "built up" the sport only to watch future players pull in millions of dollars each year - when they earned what amounted to a more typical salary back then.

Example - Joe Namath was paid a $427,000 3-year contract in 1965 to play for the Jets. That was the highest amount of money ever paid to an collegiate football player.

Compare that to the current rookie minimum amount which is somewhere around $285,000.

Clint, your post instantly got me thinking about inflation. I'm assuming that Joe made $427,000 over three years, so $142,333 a year. That same amount from 1965 is the equivalent of about $930,000 in 2007 dollars.

 

[mazersteven]

That same amount from 1965 is the equivalent of about $930,000 in 2007 dollars.

Chump Change for a quarterback like Joe.

 

[Audioholics]

That same amount from 1965 is the equivalent of about $930,000 in 2007 dollars.

Good catch and very valid point.

 

[billy p]

We had a similar situation in Hockey. The main difference was the courts sided with the former players and they eventually won their case. The current group of players coped with the new CBA and penision fund adjustments because in hindsight, it may be them, in need one day! As for the NFL and its player association, they should do it as a goodwill gesture considering it's a pittance in the overall picture of the net worth of the two parties in question. JMO.

Billy p

 

[Rickster71]

I guess they owe them one seminar a year, on how to save, and invest for retirement. How will the appear on MTV Cribs, if they don't save?

 

[Buckeye_Nut]

Communist Broadcasting System news(CBS) has covered this story exactly as expected......

The one sided pity party begins immediately.........
http://www.cbsnews.com/stories/2007/06/26/sportsline/main2984859.shtml?source=search_story

(CBS/AP) "Aging NFL retirees told Congress Tuesday that playing professional football left them with broken bodies, brain damage and empty bank accounts."

You can plainly see by the one-sided leftist reporting that CBS views Boyd as a victim and due additional compensation.

Next....
"Even though two of three NFL doctors agreed Boyd is disabled as result of football-related concussions, his request for full disability of about $8,000 a month was rejected by the league and its players' union, reports Bowers. "

What CBS News correspondent Cynthia Bowers forgot to tell us about Boyd is that he went on to sue the NFL for disability benefits, and lost. Cynthia Bowers also very conveniently doesn't tell the viewers that Boyd was offered the opportunity to include stipulations for such a disability pension out of his players salary, but he chose not to.

Basically, the entire CBS hit piece is a one sided pity party

One issue that did ride "the pine" throughout the entire hit-piece was the issue of......personal responsibility. Should the NFL pay restitution? CBS clearly seems to think so.

 

[mtrycrafts]

It's primarily jealousy as they feel they "built up" the sport only to watch future players pull in millions of dollars each year - when they earned what amounted to a more typical salary back then.

Example - Joe Namath was paid a $427,000 3-year contract in 1965 to play for the Jets. That was the highest amount of money ever paid to an collegiate football player.

Compare that to the current rookie minimum amount which is somewhere around $285,000.

What is the inflation adjusted salary after 40 years? Would this also apply to movie stars?, Tennis players?, Golf? Corporate execs? Ditch diggers?

 

[mtrycrafts]

And $285,000 seems like alot, but it's not. And you guys have no clue about the taxes these guys pay out of that 285K.

Perhaps, but I would think that they have financial advisers to shelter their income?
Do these guys have agents to advise them with contracts? Or lawyers?