Marshawn Lynch hasn't spent any money he's made from the NFL

"any money he's made IN the NFL" would be more appropriate, as his endorsement money is a result of his NFL career... but you get the idea.

.

Rob Gronkowski has said the same thing also. He's never spent any of the money from his NFL contracts and only lives off the money from endorsements.

In comment 12806481 NYGmen58 said:

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.

I think you're making a leap and a judgment on his character without any information, and that's pretty lazy (at best). Rappaport is a respected reporter and it would be an incredibly odd thing for him to make up.

He makes $5 million annually on endorsements. That's more than most NFL players make annually, all in. Lynch has always been an odd guy, and there has been a bigger stress on financial responsibility for NFL players in recent years. It's very believable, IMO.

so I believe it..

Its not hard to live on millions of endorsement money ;)

the interest from his NFL salary

In comment 12806491 Mike in Long Beach said:

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In comment 12806481 NYGmen58 said: Quote: . I think you're making a leap and a judgment on his character without any information, and that's pretty lazy (at best). Rappaport is a respected reporter and it would be an incredibly odd thing for him to make up. He makes $5 million annually on endorsements. That's more than most NFL players make annually, all in. Lynch has always been an odd guy, and there has been a bigger stress on financial responsibility for NFL players in recent years. It's very believable, IMO.

He didn't make $5 million in endorsements in '07 when he was a rookie. I find it highly unlikely that he didn't spend ANY of the money from his rookie contract. Perhaps it should have been worded "he didn't spend any money from his more recent contracts".

Created a persona and then created an entire clothing line off persona.

He starred in a Pepsi commercial based on his persona

he continues to make money off this character he created

Football was his platform

Still, it wouldn't surprise me if he saved the rest.

Gronk has done the same. I'm glad to hear that some players are thinking about their future.

does he have every cent of his nfl money...maybe, maybe not...the point is, he has lived frugally or off his endorsement money...stop being a dick and move on.

In comment 12806560 BronxBombers said:

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does he have every cent of his nfl money...maybe, maybe not...the point is, he has lived frugally or off his endorsement money...stop being a dick and move on.

This

had not spent any of the money NBC paid him. He lived off his other sources of income.

Some people are hardwired to live below their means. Im one of them.

live off of his endorsements

In comment 12806568 phil in arizona said:

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In comment 12806560 BronxBombers said: Quote: does he have every cent of his nfl money...maybe, maybe not...the point is, he has lived frugally or off his endorsement money...stop being a dick and move on. This

I don't doubt it, but I'm guessing "frugally" is a pretty relative term. For example, I doubt he's living on what I make.

The guy is spending $5M per year, and that will no longer be income since he will not be playing; so now he will start living off his NFL income of $50M (less agent fees, taxes, etc). But at the rate of spending ($5M per year) that will be gone soon enough.

What would be good is if the investment return of that $50M is yielding $2M+ per year for the next 50 years. And he's able to adjust his spending down from $5M per year to $2M.

*

In comment 12806685 haper said:

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The guy is spending $5M per year, and that will no longer be income since he will not be playing; so now he will start living off his NFL income of $50M (less agent fees, taxes, etc). But at the rate of spending ($5M per year) that will be gone soon enough. What would be good is if the investment return of that $50M is yielding $2M+ per year for the next 50 years. And he's able to adjust his spending down from $5M per year to $2M.

How do you know how much he is spending in a year???

he should be commended. teach a workshop in how to put away money.

and didn't spend a penny of it on getting an apartment or buying some clothes or to buy a car or even food is kind of silly.

I am sure he must have spent some that first year..... or better yet, just ask his agent if he got paid for his services. Chances are very high that ML spent some of his money if on nothing else than paying his agent.

that when he signed his $31M extension in 2011, he walked into Goldman Sachs in SF with his bonus check and asked for the "guy with the most grey hair here" so that he could invest the entire bonus. Say what you will about Lynch, but he is far more careful with his money then most NFL guys

If true, that's a very bizarre way to pick a financial adviser.

because he wasn't collecting too many endorsements as a rookie or 2nd year player

but the rest of the story is believable

In comment 12806802 AP in Halfmoon said:

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If true, that's a very bizarre way to pick a financial adviser.

Eh. There are 100 worse ways. So many players get ripped off by what is effectively affinity fraud -- they get in with someone who invests the money for other rich people they know. Except no one in that circle knew how to pick an adviser in the first place. Or affinity fraud's cousin, affinity incompetence -- they pick an adviser who is good at marketing to athletes and people like them, even if that person is a bad adviser.

At least if you give money to Goldman, the bank is on the hook if the adviser steals your money (and maybe even if they invest it negligently). You just have to make sure they dont let John Paulson design your portfolio.

I use the group my father did business with.

In comment 12806820 AP in Halfmoon said:

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I use the group my father did business with.

I'd think a lot of people's families' didnt have enough money to have connections to a financial adviser. No idea what Lynch's background is.

In any event, the happenstance of your father knowing people who do this for a living doesnt mean that it's a better connection that just walking into a GS office.

In comment 12806820 AP in Halfmoon said:

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I use the group my father did business with.

I could be wrong, but I'm under the impression that MLs family didn't need a financial advisor.

And while it may be a bizarre method, it probably puts him in the top 25% of professional athletes.

However the fact that he decided to go to GS on his own rather than asking his agent to manage it for him (or find a financial advisor for him) tells you that he is relatively sharp.

Even when agent's recommend a financial advisor, in many cases they will choose the advisor based on what type of kick back they receive - relatively unethical but not illegal.

I guess it could be believable but I just have a hard time seeing it that way. The guy has a pretty big collection of cars including a Lamborghini and other various expensive luxury and sports cars. That's a pretty expensive lifestyle. Don't see him living that lifestyle off $5 mill (gross) and not touching his NFL money.

I could be way off and if so, more power to him. I just don't believe it at all.

In the hood in Oakland?

In comment 12806847 csb said:

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However the fact that he decided to go to GS on his own rather than asking his agent to manage it for him (or find a financial advisor for him) tells you that he is relatively sharp. Even when agent's recommend a financial advisor, in many cases they will choose the advisor based on what type of kick back they receive - relatively unethical but not illegal.

Ike Hilliard will testify to that.

while attending UC Berkeley was "money". Kinda reminds one of another famous pro athlete tighwad who had a reputation as a sound investor, former Knicik "Dollar Bill" Bradley.

He skipped his senior year and no evidence he ever graduated, but one can learn a lot at UC Berkeley in 3 years if one actually attends classes...

It not like he attended Miami or Florida State or LSU...

In comment 12806864 BlueLou said:

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while attending UC Berkeley was "money". Kinda reminds one of another famous pro athlete tighwad who had a reputation as a sound investor, former Knicik "Dollar Bill" Bradley. He skipped his senior year and no evidence he ever graduated, but one can learn a lot at UC Berkeley in 3 years if one actually attends classes... It not like he attended Miami or Florida State or LSU...

Why is he a tightwad for not spending the money he makes from one source of income?

In comment 12806872 Deej said:

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In comment 12806864 BlueLou said: Quote: while attending UC Berkeley was "money". Kinda reminds one of another famous pro athlete tighwad who had a reputation as a sound investor, former Knicik "Dollar Bill" Bradley. He skipped his senior year and no evidence he ever graduated, but one can learn a lot at UC Berkeley in 3 years if one actually attends classes... It not like he attended Miami or Florida State or LSU... Why is he a tightwad for not spending the money he makes from one source of income?

The term would better have been frugal, and that is by way of comparison to other young players who don't save and invest nearly enough. Did not mean "cheap", poor diction on my art.

A guy who got crap for years for being cold to the media as though that was the worst sin in the world, but a guy who seemed like a solid and respected teammate and who gave the perfect answer last year under a.difficult circumstance.

In comment 12806899 Dunedin81 said:

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A guy who got crap for years for being cold to the media as though that was the worst sin in the world, but a guy who seemed like a solid and respected teammate and who gave the perfect answer last year under a.difficult circumstance.

This.

And think about who would be giving him this "tightwad" reputation. Guys that are notoriously bad at managing money that can't see passed (past? What's the correct word there? Always fucks me up) their next season and next paycheck. In other words, their idea of "frugal" I'm sure doesn't match yours or mine.

In comment 12806879 BlueLou said:

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The term would better have been frugal, and that is by way of comparison to other young players who don't save and invest nearly enough. Did not mean "cheap", poor diction on my art.

Ok, that's less charged. Though I'd still say that anyone with such a limited prime earnings window (for RBs it's closed in their early 30s unless they have a second career like broadcasting lined up) is not frugal for having a high savings rate. Rather it is the smart thing to do. Though my bias is that a high savings rate is actually smart for a lot of people, not just athletes (if you can swing it).

Bradley went to Princeton.

Dain Bramage.

completely f-cking amazing

no wonder things are the way they are