Another broke wide receiver

[OILERMAN]

3 hours ago, Callidus said:

The disconnect I have from this is why these people never have an o shit moment before they are completely broke. Do they just never look at their bank account again after they get their big deal? 

 

One of my favorite stories is about special teams ace Kenny Gant, played for the Cowboys in the early 90s, the SB run. He was famous for doing the shark dance before kick offs. 

 

I heard him talking about going broke. Back then he likely made 200-300k a year. He eventually signed a multi-million deal with TB. 

 

He got direct deposit into a regular savings account and used a debit card to make withdrawals as he needed money. He said a few months after his career was over he got "insufficient funds" when he tried to take money out and that was the end of his NFL money. 

 

[headhunter]

Steve Johnson drafted by the Pats in the 80s played 3 NFL seasons is a multi millionaire that does a lot of commercial real estate now. Some can take a couple hundred thousand and become multi millionaires with it while some with millions already cant even make 100k with their money. 

[OILERMAN]

Junior Bridgeman was a 6th man in the NBA in the 70s. Dude went from making a few 100k to a billionaire

 

https://www.youtube.com/watch?v=6D-lOAqEvbw

 

 

[begooode]

42 minutes ago, OILERMAN said:

Junior Bridgeman was a 6th man in the NBA in the 70s. Dude went from making a few 100k to a billionaire

 

https://www.youtube.com/watch?v=6D-lOAqEvbw

 

Bridgeman and his business success are not celebrated nearly enough. 
 

I’ll never forget the look in eyes of Jevon Kearse’s relatively young mother, saying plainly to a reporter that she had worked long enough and that it was time for Jevon to ‘take care of the family’. Not sure of his financial situation over the years, but I sensed his family wasn’t going to make it any easier.

[OILERMAN]

9 hours ago, begooode said:

Bridgeman and his business success are not celebrated nearly enough. 
 

I’ll never forget the look in eyes of Jevon Kearse’s relatively young mother, saying plainly to a reporter that she had worked long enough and that it was time for Jevon to ‘take care of the family’. Not sure of his financial situation over the years, but I sensed his family wasn’t going to make it any easier.

 

Thu, Feb 7, 2013

 Jevon Kearse, the former NFL All-Pro who retired three years ago, is now in foreclosure on a $5.25 million loan on his Pompano Beach, Fla. home.

Kearse played 11 seasons for the Titans and Eagles from 1999 to 2009. He bought a 6,000-square-foot home in Pompano Beach for $6.05 million in 2004, and signed a $5.25 million mortgage two years later.

However, that loan is in foreclosure. Deutsche Bank filed suit on the mortgage on Dec. 19. The IRS has also filed a tax lien against Kearse for $432,015 over his 2010 income.

[Callidus]

16 hours ago, OILERMAN said:

 

Thu, Feb 7, 2013

 Jevon Kearse, the former NFL All-Pro who retired three years ago, is now in foreclosure on a $5.25 million loan on his Pompano Beach, Fla. home.

Kearse played 11 seasons for the Titans and Eagles from 1999 to 2009. He bought a 6,000-square-foot home in Pompano Beach for $6.05 million in 2004, and signed a $5.25 million mortgage two years later.

However, that loan is in foreclosure. Deutsche Bank filed suit on the mortgage on Dec. 19. The IRS has also filed a tax lien against Kearse for $432,015 over his 2010 income.

Damn freak. 

[NashvilleNinja]

17 hours ago, OILERMAN said:

 

Thu, Feb 7, 2013

 Jevon Kearse, the former NFL All-Pro who retired three years ago, is now in foreclosure on a $5.25 million loan on his Pompano Beach, Fla. home.

Kearse played 11 seasons for the Titans and Eagles from 1999 to 2009. He bought a 6,000-square-foot home in Pompano Beach for $6.05 million in 2004, and signed a $5.25 million mortgage two years later.

However, that loan is in foreclosure. Deutsche Bank filed suit on the mortgage on Dec. 19. The IRS has also filed a tax lien against Kearse for $432,015 over his 2010 income.

 

[Callidus]

6 hours ago, NashvilleNinja said:

 

dammit bobby

[OILERMAN]

A 6 million dollar home for what Kearse signed for is absolutely ridiculous. Then he takes out a 5 million dollar loan against it. 

 

At the time he bought this house he earned 9 mill pre-tax from the Titans and had a 16 million dollar signing bonus from the Eagles. 

 

That means he likely had about 10 mill in post tax cash. He spent 6 mill of it on a house. That's beyond financial suicide. Of course he went broke. 

[OILERMAN]

If Kearse only took his post tax/fees from his Eagles signing bonus(around 7 mill likely) and invested in a simple S&P 500 index the day he signed in 2004 he would have $36,229,540.13 today. At 49 years old. 

 

Not counting his signing bonus he still made 29 mill in the NFL. 

 

Dividends from 36 mill from the S&P 500 would be about 450k a year. 

[ctm]

Long term rate of return on an S & P index fund is 10-11%.  If you want a fund or ETF with more risk, then 15-20% for the last couple of years is on the table rather easily.  At those rates, money doubles every 4-5 years.  Anyone with NFL money who doesn't hire a true professional money manager is a fool.  And I'm talking about a financial advisor guy who just hung out a shingle. Some of these guys are scam artists as well.  I mean a true certified professional.  It's not that hard.

Edited December 9, 2025 by ctm

[OILERMAN]

5 minutes ago, ctm said:

Long term rate of return on an S & P index fund is 10-11%.  If you want a fund or ETF with more risk, then 15-20% for the last couple of years is on the table rather easily.  

 

I used a website for the actual real returns on the S&P from the month Kearse actually signed. It was 10.65%. 5 times what he would have started with, with little risk or complexity.  

[pat]

What I'm hearing is that not enough teenagers are Bogleheads

[ctm]

16 minutes ago, OILERMAN said:

 

I used a website for the actual real returns on the S&P from the month Kearse actually signed. It was 10.65%. 5 times what he would have started with, with little risk or complexity.  

 

https://finance.yahoo.com/quote/VOOG/

 

VOOG   23.18%  year to date

[OILERMAN]

11 hours ago, ctm said:

 

https://finance.yahoo.com/quote/VOOG/

 

VOOG   23.18%  year to date

 

VOOG wasn't around when Kearse got his signing bonus!