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Personal Finances Of Professional American Athletes
The personal finances of professional American athletes is a subject of widespread discussion due to the often high salaries of such athletes and the high rates of personal bankruptcy and other financial distress. According to a 2009 ''Sports Illustrated'' article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players, 78% NFL players, and a large percentage of Major League Baseball (MLB) players (4x that of the average U.S. citizen) go bankrupt within five years after leaving their sport. Originally the statement "60% of NBA players go bankrupt within five years after leaving their sport" was released by a representative of the NBA Players' Association in 2008. A '' Fortune'' magazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Personal Bankruptcy
Personal bankruptcy law allows, in certain jurisdictions, an individual to be declared bankrupt. Virtually every country with a modern legal system features some form of debt relief for individuals. Personal bankruptcy is distinguished from corporate bankruptcy. By country The DICE report 2006 of Munich's ifo Economic Research compared international personal bankruptcy in selected OECD-countries. United States In the United States, the same chapters of the Bankruptcy Code are applied in both personal and corporate bankruptcies. Most individuals who enter bankruptcy do so under Chapter 13 (a "reorganization" plan) or Chapter 7 (a "liquidation" of debtor's assets). More rarely, personal bankruptcy proceedings are carried out under Chapter 11. The ultimate goal of personal bankruptcy, from the viewpoint of the debtor, is receiving a discharge. Canada The concept behind bankruptcy in Canada is that an individual assigns (surrender) everything they own to a trustee in bankruptcy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rod Strickland
Rodney Strickland (born July 11, 1966) is an American basketball coach and former professional basketball player. He is currently the head coach at Long Island University. Prior to LIU, he served as the program manager for the NBA G League's professional path. Strickland played college basketball at DePaul University, where he was awarded All-American honors. He then enjoyed a long career in the National Basketball Association (NBA), playing from 1988 to 2005. Strickland was an assistant coach for the South Florida Bulls, under Orlando Antigua from 2014 to 2017. He formerly served in an administrative role for the University of Kentucky basketball team under head coach John Calipari and was the director of basketball operations at the University of Memphis under Calipari. He is the godfather of current NBA player Kyrie Irving. High school career A native of the Bronx, Strickland played for the New York Gauchos. While a junior he led Truman High School in Co-Op City to the state c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Jordan
Michael Jeffrey Jordan (born February 17, 1963), also known by his initials MJ, is an American businessman and former professional basketball player. His biography on the official NBA website states: "By acclamation, Michael Jordan is the greatest basketball player of all time." He played fifteen seasons in the National Basketball Association (NBA), winning six NBA championships with the Chicago Bulls. Jordan is the principal owner and chairman of the Charlotte Hornets of the NBA and of 23XI Racing in the NASCAR Cup Series. He was integral in popularizing the NBA around the world in the 1980s and 1990s,Markovits and Rensman, p. 89. becoming a global cultural icon in the process. Jordan played college basketball for three seasons under coach Dean Smith with the North Carolina Tar Heels. As a freshman, he was a member of the Tar Heels' national championship team in 1982. Jordan joined the Bulls in 1984 as the third overall draft pick, and quickly emerged as a league st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prenuptial Agreement
A prenuptial agreement, antenuptial agreement, or premarital agreement (commonly referred to as a prenup), is a written contract entered into by a couple prior to marriage or a civil union that enables them to select and control many of the legal rights they acquire upon marrying, and what happens when their marriage eventually ends by death or divorce. Couples enter into a written prenuptial agreement to supersede many of the default marital laws that would otherwise apply in the event of divorce, such as the laws that govern the division of property, retirement benefits, savings, and the right to seek alimony (spousal support) with agreed-upon terms that provide certainty and clarify their marital rights. A premarital agreement may also contain waivers of a surviving spouse's right to claim an elective share of the estate of the deceased spouse. In some countries, including the United States, Belgium and the Netherlands, the prenuptial agreement not only provides for what hap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jerry Richardson
Jerome Johnson Richardson Sr. (born July 18, 1936) is an American businessman, former NFL player and former owner in the National Football League (NFL). He established the Carolina Panthers franchise, which he owned for 23 years. Early life and college Richardson was born in Spring Hope, North Carolina. After completing high school in Fayetteville, North Carolina, he entered Wofford College, located in Spartanburg, South Carolina. Richardson was an Associated Press Little All-America selection in 1957 and '58. He still holds Wofford's single-game record with 241 receiving yards vs. Newberry in 1956 and is the record holder for touchdown receptions in a season (9 in 1958) and in a career (21). As a senior at Wofford, he scored 72 points on nine touchdowns, 12 extra points and two field goals. Richardson calls being elected team captain in 1958 his greatest honor. In 1983, he was chosen to Wofford's All-Time Football team as a receiver. Richardson was active in numerous groups ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carolina Panthers
The Carolina Panthers are a professional American football team based in Charlotte, North Carolina. The Panthers compete in the National Football League (NFL), as a member club of the league's National Football Conference (NFC) South division. The team is headquartered in Bank of America Stadium in Uptown Charlotte; the stadium also serves as the team's home field. The Panthers are supported throughout the Carolinas; although the team has played its home games in Charlotte since 1996, they played their home games at Memorial Stadium in Clemson, South Carolina during its first season. The team hosts its annual training camp at Wofford College in Spartanburg, South Carolina. Along with the New England Patriots, it is one of only two teams representing multiple states. The Panthers were announced as the league's 29th franchise in 1993 and began playing in 1995 under the original owner and founder Jerry Richardson. The Panthers played well in their first two years, finishin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deseret News
The ''Deseret News'' () is the oldest continuously operating publication in the American west. Its multi-platform products feature journalism and commentary across the fields of politics, culture, family life, faith, sports, and entertainment. The ''Deseret News'' is based in Salt Lake City, Utah and is published by Deseret News Publishing Company, a subsidiary of Deseret Management Corporation, which is owned by the Church of Jesus Christ of Latter-day Saints. The publication's name is from the geographic area of Deseret identified by Utah's pioneer settlers, and much of the publication's reporting is rooted in that region. On January 1, 2021, the newspaper switched from a daily to a weekly print format while continuing to publish daily on the website and Deseret News app. As of 2022, ''Deseret News'' develops daily content for its website and apps in addition to weekly print editions of the Deseret News Local Edition and the Church News. Deseret News publishes 10 editions of D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Karl Malone
Karl Anthony Malone (born July 24, 1963) is an American former professional basketball player in the National Basketball Association (NBA). Nicknamed "the Mailman", he is considered one of the greatest power forwards in NBA history. Malone spent his first 18 seasons (1985–2003) in the NBA with the Utah Jazz and formed a formidable duo with his teammate John Stockton. He was a two-time NBA Most Valuable Player, a 14-time NBA All-Star, and an 11-time member of the All-NBA first team. His 36,928 career points scored rank third all-time in NBA history behind Kareem Abdul-Jabbar and LeBron James, and he holds the records for most free throws attempted and made, in addition to being tied for the second-most first-team All-NBA selections with Kobe Bryant and behind LeBron James. Malone played college basketball at Louisiana Tech University. In his three seasons with Louisiana Tech, he helped the Bulldogs basketball team to its first-ever NCAA tournament in 1984 and to first ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Eagleson
Robert Alan Eagleson (born April 24, 1933) is a disbarred Canadian lawyer, hockey agent and promoter. Clients that he represented included superstars Bobby Orr and Darryl Sittler, and he was the first executive director of the NHL Players Association (NHLPA), which was initially lauded for improving the bargaining power of National Hockey League (NHL) players. He is also well known for providing the opportunity for professional players to compete in international hockey, by promoting the 1972 Summit Series between Canada and the Soviet Union, and the Canada Cup (now the World Cup of Hockey). However, Eagleson was convicted of fraud and embezzlement and briefly imprisoned, after it was revealed that he had abused his position for many years by defrauding his clients and skimming money from tournaments. After his convictions, he was removed as a member of the Order of Canada and resigned from the Hockey Hall of Fame where he had been inducted in the builder category. The Blue a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bobby Orr
Robert Gordon Orr (born March 20, 1948) is a Canadian former professional ice hockey player, widely acknowledged as one of the greatest of all time. Orr used his ice skating speed, scoring, and play-making abilities to revolutionize the position of defenceman. He played in the National Hockey League (NHL) for 12 seasons, the first 10 with the Boston Bruins, followed by two with the Chicago Black Hawks. Orr remains the only defenceman to have won the league scoring title with two Art Ross Trophies. He holds the record for most points and assists in a single season by a defenceman. Orr won a record eight consecutive Norris Trophies as the NHL's best defenceman and three consecutive Hart Trophies as the league's most valuable player (MVP). Orr was inducted into the Hockey Hall of Fame in 1979 at age 31, the youngest to be inducted at that time. In 2017, Orr was named by the National Hockey League as one of the "100 Greatest NHL Players" in history. Orr started in organized ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Magic Johnson
Earvin "Magic" Johnson Jr. (born August 14, 1959) is an American former professional basketball player. He is often regarded as the greatest point guard of all-time and has been compared with Stephen Curry. Johnson played 13 seasons in the National Basketball Association (NBA). After winning a national championship with Michigan State in 1979, Johnson was selected first overall in the 1979 NBA draft by the Los Angeles Lakers, leading the team to five NBA championships during their Showtime era. Johnson retired abruptly in 1991 after announcing that he had contracted HIV, but returned to play in the 1992 All-Star Game, winning the All-Star MVP Award. After protests from his fellow players, he retired again for four years, but returned in 1996, at age 36, to play 32 games for the Lakers before retiring for the third and final time. Johnson's career achievements include three NBA MVP Awards, three NBA Finals Most Valuable Player Awards, nine NBA Finals appearance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Enterprise
''Black Enterprise'' is a black-owned multimedia company. Since the 1970s, its flagship product ''Black Enterprise'' magazine has covered African-American businesses with a readership of 3.7 million. The company was founded in 1970 by Earl G. Graves Sr. It publishes in both print and on digital, an annual listing of the largest African-American companies in the country, or "B.E. 100s", first compiled and published in 1973. In 2002 the magazine launched a supplement targeting teens, ''Teenpreneur''. ''Black Enterprise'' also has two nationally syndicated television shows, ''Our World with Black Enterprise'' and ''Women of Power''. History The magazine was founded by Earl G. Graves Sr. In January 2006, he named his eldest son, Earl G. Graves Jr. (known as "Butch"), the company's chief executive officer. Butch joined the company in 1988 after earning his M.B.A. from Harvard University; he received his bachelor's degree in economics from Yale University in 1984. He also sit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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