More (scary) news about how the lockout is affecting those players who didn’t think to save their money when they had the chance.
This news comes from the Twitter account of Rich “Big Daddy’ Salgado of Coastal Advisors, an insurance consultant company that counts NFL players (and other pro athletes) as part of its clientele.
We’ve posted stories like this before, but a loan of a half million dollars with such a huge interest rate might tell you a tale of where some players’ financials currently are situated.*
*In the toilet.
The biggest problem with this: many players wouldn’t be getting paid much at this point anyway. It’s still the offseason, and though some players receive workout and roster bonuses, it’s not like players receive the bulk of their money at this point of the year.
Which means, once September rolls around and players still aren’t cashing checks (during a time in which they normally are), there might be some real trouble out there.
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