His lawyer says "this is yet another situation of an athlete trusting the wrong people"
Despite the fortune Peterson has made, he appears to be nearly broke, with debts that he is struggling to pay, and debts that he’ll continue to struggle to pay even after getting a $1.5 million signing bonus to remain in Washington this year, with another $1 million in salary on the way for the season.
The lawyer's statements could mean anything, but usually it's about bad investments. It takes a lot of hard work to blow $100 million on drugs and women, a little less effort if you're into gambling, but nothing eats into it faster than a "business advisor" telling you to sink $10 million here and $10 there into a nightclub or restaurant, plus family members who all have great ideas and just need a few million in "seed funding".
Last edited on Fri Jul 26th, 2019 02:39 pm by srossi
This made me wonder what actually happened with Bobby Bonilla and it ties nicely into the story of Peterson and other broke athletes. The moral of the story is that Bonilla was one of the few guys who had the foresight to defer money into the future rather than take the lump sum up front. It's a lesson that athletes and lottery winners would do well to heed. Taking the lump sum makes the most sense if you're able to manage your money like a disinterested accountant, but that's very rarely the case. https://www.celebritynetworth.com/articles/entertainment-articles/bobby-bonilla-baseball-contract/
Maybe he can borrow some money from one of his 20 kids that he's never met before. The little kids he never beat with a weapon. This is a guy who actually complained and compared NFL player salaries To 1800's slavery! "To a nicer guy, it couldn't happen." Fuck him.