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Warren Sapp files for Bankruptcy

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Replies

  • FroHawkeFroHawke Posts: 1,115
    eyes low wrote: »
    I don't understand did he hire an accountant. That's what these athletes fail to realize the first thing you do with your money is hire an accountant you don't go on shopping sprees

    The best thing is to hire a very good tax guy. There are a lot of stories of shady ass accountants out there taking advantage of the athlete's ignorance. Budgeting your money should not be that hard, and ultimately, you can trust YOU more when it comes to managing your money.
    The only thing you can get more out of is taxes, so get a good taxperson.
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  • greenwood1921greenwood1921 Posts: 30,506
    EducatedForSumReason wrote: »
    eyes low wrote: »
    I don't understand did he hire an accountant. That's what these athletes fail to realize the first thing you do with your money is hire an accountant you don't go on shopping sprees

    The best thing is to hire a very good tax guy. There are a lot of stories of shady ass accountants out there taking advantage of the athlete's ignorance. Budgeting your money should not be that hard, and ultimately, you can trust YOU more when it comes to managing your money.
    The only thing you can get more out of is taxes, so get a good taxperson.

    Good point. It's all about YOU.

    Funny how niggas who make 50k a year wouldn't let some random muthafucka control their bank account or even hold their wallet, but if that same dude makes 50 millie, he throws it at the first Jew he runs into.

    It's actually real simple -- KEEP YOUR LIFESTYLE IN CHECK.

    You're Black, you were either dirt poor or working class and you managed to survive on almost nothing. Do you really need to live like a Saudi Prince all of a sudden?

    Imagine the difference it would make for a family in the projects if they suddenly got off welfare and had 50k a year coming in. That would be decent living for most families.

    Now imagine if that same family was actually getting 200k a year, BUT they continued to live like they were still getting 50k or even just 100k.

    Still a decent living + out of the projects + saving/investing over six figures a year = Building wealth.


    Making 200k a year with 250k in annual expenses and debt = A more "luxurious" form of poverty.
    FroHawke
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  • TheBossmanTheBossman Posts: 10,150
    Report: Sapp “likely” out at NFL Network
    When former NFL defensive tackle Warren Sapp recently declared bankruptcy, he listed his income at $45,000 per month from NFL Network on a contract that expires in August 2012. Sapp said in the paperwork he’s not sure if the contract will be extended.

    According to Greg Bedard of the Boston Globe, it probably won’t be.

    Bedard reports, citing two league sources, that Sapp’s employment is “likely over,” and that Sapp has not been on NFL Network in the two-plus weeks since he went on the air and outed former Saints tight end Jeremy Shockey as the player who blew the whistle on the Saints’ bounty system in 2011.

    NFLN Senior Vice President of Programming and Production Mark Quenzel previously said Sapp wouldn’t be “fired,” but if Bedard’s report is accurate that was just a matter of semantics. Like when the Steelers didn’t “fire” offensive coordinator Bruce Arians after his contract expired. Even though they didn’t offer him ongoing employment. (Maybe NFLN will claim Sapp “retired,” too.)

    We’ve separately heard, though hadn’t confirmed to the point that we felt comfortable reporting it, that Sapp is indeed done at NFL Network. As one industry source explained it, opinions within the building were split on what to do with Sapp, and NFL Network chief Steve Bornstein made the decision to bench Sapp until his contract expires — and then to simply move on.

    Though it was wrong for Sapp to “out” Shockey and label him a “snitch,” Sapp initially did so on his Twitter page. As we understand it, he was then invited by NFL Network to come on the air and talk about what he had tweeted.

    What did they expect him to say at that point, “No way — it’s a trap”?

    Moreover, the fact that NFLN said in the wake of the fiasco that Sapp has been told he’s not a reporter but an analyst implied strongly that he hadn’t previously been told not to report things he has heard. Indeed, the network happily embraced the fact that Sapp received a text message from former University of Miami teammate Ray Lewis during the season, indicating that Lewis would miss the first of four games with a foot injury.

    But that’s the way the league usually operates. No one is fired with fanfare, and the official separation comes after the dust settles.

    If that’s what the league-owned network chooses to do with Sapp, that’s fine. But the league-owned network shouldn’t have played word games with the public about it, and the league-owned network shouldn’t single Sapp out for something that arose from a much broader failure in TV production and sensitivity to potential legal problems.

    http://profootballtalk.nbcsports.com/2012/04/08/report-sapp-likely-out-at-nfl-network/
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  • G MackG Mack Posts: 6,249

    Niggas all tried make everything a white and black thing smh
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  • FroHawkeFroHawke Posts: 1,115
    Some of y'all should be financial advisors to these fools cuz y'all speaking some hard truths in here
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  • greenwood1921greenwood1921 Posts: 30,506
    EducatedForSumReason wrote: »
    Some of y'all should be financial advisors to these fools cuz y'all speaking some hard truths in here

    That's another problem.

    They're surrounded by a bunch of people that want some of that money, so they wouldn't dare tell the nigga "Man, you fuckin' up." Bunch of "yes men".
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  • white715white715 Posts: 5,157
    Be$T_1 wrote: »
    white715 wrote: »
    A lot of young black men and women have no knowledge of self they see themselves as having little or no value, society is happy to have us believe we're nothing but slaves or gangstas. So when cats get some money they feel like they gotta show it off.

    Look at These two

    Steve-Jobs-and-Bill-Gates.jpg

    Two of the wealthiest men in America and they look like they shop at Sears. White men have been told for thousands of years how great they are and how they are superior so they can dress like "everyday people" they don't have to cover themselves in gold and diamonds and designer fabrics to feel like they have some self worth.

    LoL @ u comparing two of the wealthiest priveleged-upbringing white men to inner city niggas who've had to climb more hurdles in order to reach them FEW MILLIONS than them white boys have ever had to face while gaining BILLIONS....

    shut ya coon ass up and quit comparing foundationless brothas who come from hoplessness and almost nothing to white men who've had to do nothing but worry about getting up to grab the car keys and go to school every morning ....

    niggas out here facing real obstacles my dude, how can u knock a bryan "birdman" williams for owning 3 bugatti's 2 RR's and 4 bentley's when he grew up with no mother no father no guidance in one of the most illiterate crime ridden dangerous areas in north america ? these boys are filled with anger and pain, and for u to act as if these white boys don't indulge in other areas financially is silly....

    Damn son you missed the entire point of my post, your basically saying exactly what I did. And you callin me a coon when I'm talking bout my people finding knowledge of self is funny.

    http://community.allhiphop.com/discussion/457498/powerful-black-images/p1
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  • blackrainblackrain Posts: 13,347
    The shit really isn't that hard...most athletes go broke because they continue to live as if they're at the height of their careers after their playing days are done...but they're making far less money and it takes alot to maintain that flashy lifestyle...
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  • The Lonious MonkThe Lonious Monk Posts: 7,761
    usmarin3 wrote: »
    problem is most of these athletes blow money on business ventures too, not that you even need to do that shit. All you have to do is tie up your money in high interest bearing accounts and reap money off interest every month. I mean how many rim shops, barbershops, and bbq restaurants do niggas really need. lmfao

    Yeah this is a problem. People always looking for something to make quick and easy money, but seriously, if you got dough like that and you put it in a high interest account, you can basically live a decent life off the interest alone.
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  • David RuffinDavid Ruffin Posts: 1,269
    Yeah it makes a lot of sense to use being poor and from the inner city with no parents as a crutch for being dumb as fuck

    yep.....sure does
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  • Matt-Matt- Posts: 15,395
    shit it could be anyone. look at all these horror stories from lotto winners. Give an average joe, with no concept of how money works, a few millions dollars and its not surprise what happens. Cats thinkin they are set for life when they get a few million dollars, when its actually NOT that much money at all, at least not if it just stays in a checking account or in shoe boxes. It kills me to see some youngster get a couple million and think they are set for life. NO THE HELL YOU AREN'T!! Even on a modest lifestyle, you can burn through a million in about 10 years.
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  • lamontbdclamontbdc Posts: 12,956
    blackrain wrote: »
    The shit really isn't that hard...most athletes go broke because they continue to live as if they're at the height of their careers after their playing days are done...but they're making far less money and it takes alot to maintain that flashy lifestyle...

    there it is. these niggas don't even go back to court after their careers are over and get their child support reduced. they don't try to reduced child support til they are broke.
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  • KingGivBizKingGivBiz Posts: 5,844
    usmarin3 wrote: »
    Niggas need to do what Randy Moss does, make your money and live a humble life beyond the lights. All Moss does is fish, hunt, and race cars. These fools out here having multiple kids out of wedlock, taking care of whole families, buying luxury cars, houses and ice.

    Look at T.O. dumb ass, broke from buying all those houses and kids.

    Oh yeah, why do these dumb niggas knock up regular hoes. If i'm famous and rich i'm only fucking rich bitches.

    I ain't gonna lie at first I didn't like you based on being a J Cole super-stan, but you be consistently saying some of the realist shit outside of that, so you cool with me, USmarin.
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  • lamontbdclamontbdc Posts: 12,956
    jamal mashburn has some serious smart business moves. we just always focus on the dumb niggas
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  • OhPeeOhPee Posts: 521
    45K a month!!!???
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  • PaperPlaneJanePaperPlaneJane Posts: 665
    In the words of Andre 3000
    "WEALTH is the word...RICH is round the corner from the curb..."

    Niggas that end up losing everything have no concept of the above
    TheBossman
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  • Meet The SniperMeet The Sniper Posts: 7,484
    Damn say it aint so.

    Fuck Shockey.
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  • Elzo69RevolutionsElzo69Revolutions Posts: 13,009
    OhPee wrote: »
    45K a month!!!???

    Yahoo.com said that in total he was pulling in like 110K a month
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  • R.D.R.D. Posts: 8,893
    lol @ Sapp getting let go for doing that bamma shit

    no sympathy for him !
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  • tru_m.a.ctru_m.a.c Posts: 9,027
    The Lonious Monk wrote: »
    usmarin3 wrote: »
    problem is most of these athletes blow money on business ventures too, not that you even need to do that shit. All you have to do is tie up your money in high interest bearing accounts and reap money off interest every month. I mean how many rim shops, barbershops, and bbq restaurants do niggas really need. lmfao

    Yeah this is a problem. People always looking for something to make quick and easy money, but seriously, if you got dough like that and you put it in a high interest account, you can basically live a decent life off the interest alone.

    they're not interested in living a decent life

    no pun intended
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  • greenwood1921greenwood1921 Posts: 30,506
    Sapp need to take some financial advice from his boy Jordan.

    Dude is worth close a billion...

















    ...and still rocking clothes his grandmama sewed for'em.
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  • TheBossmanTheBossman Posts: 10,150
    Meet The Sniper wrote: »
    Damn say it aint so.

    Fuck Shockey.

    what did shockey do? all he did was fight for himself, when someone else made an erroneous statement.
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  • vageneral08vageneral08 Posts: 12,623
    The Bossman wrote: »
    Meet The Sniper wrote: »
    Damn say it aint so.

    Fuck Shockey.

    what did shockey do? all he did was fight for himself, when someone else made an erroneous statement.

    Right how niggas gonna blame shockey when sapp lied on the nigga thinking it would be true but he bout to lose that easy pay job
    TheBossman
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  • jay83jay83 Posts: 4,215
    Sapp had a nice job too. dude was always giggling wirh michwal irvin about everything.
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  • Matt-Matt- Posts: 15,395
    ^^
    Which made the decision to let him go that much easier
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