Crean says DJ will enter draft

[ozmetal71]

People make assumptions because of what they observe.  It is not out of line to expect that a 19-20 year-old kid who comes from a poor background and suddenly has a lot of money thrown his way to not exactly think like Charles Schwab when it comes to investing.  If 99% of NBA players didn't act like that when they received their first contracts, no one would make that assumption.

If DJ stays in the draft, I wish him luck.  He's not talented or big enough to make an NBA roster right now.  I don't blame him for testing the waters, but I hope for his sake, and Marquette's, that he comes back next year.  Thankfully he is doing the smart thing and is not hiring an agent so he retains his eligibility.

With each player declaring, DJ's draft stock slips even further.

[Coobeys Oil Depot]

And we all know how great of businessmen/investors pro athletes are...

You can say that about any occupation. I know plenty of people who are successful in their "regular" jobs who are terrible with their business investments whether it be a restaurant, side business, etc.

On the flip side, there are fine examples of NBA players who have done well with their money in terms of investments (Grant Hill, Greg Anthony, Magic Johnson, etc.).

Can't throw the baby out with the bathwater. I'm just surprised at how quick we are to eat our own kid.

[ChicosBailBonds]

The one thing that concerns me is if during the camps, DJ hears he'll be drafted, even if it is 2nd round and would certainly make a roster for league Minimum.

That's $427k in year one, even if you do ride the pine.  Chances are, he'd get a 2nd year.   That's $711k.  Presto.  You're set for life, if you don't pimp your Escalade every year.

Eek out one more year for $829k.  Nice minimum wage if you can get it.

http://www.insidehoops.com/minimum-nba-salary.shtml

So, sure, he could wait a year, double his income.  But that non-doubled income is pretty sweet.

You also forgot about the royalty money that each player gets. It's in 6 figures EVERY YEAR. And you continue to collect it for years like a pension.

You need to explain this one a bit further....not saying you are wrong but in my dealings with the league and their players association and the Collective Bargaining Agreement I'm unaware of numbers to that level.  That is a very high number that would surprise me if it true, but it might be.

[ChicosBailBonds]

If you're going to spout about his possible salary don't forget that the NBA per diem is effing ridiculous. These guys don't even have to bring their own money on a road trip and if they don't blow it on drinking they can go home from every trip with anywhere from $800-$1500. Hell, bank that and let it sit gathering interest and you could pull another couple years off his time in the NBA.

It's a business as well as a talent.

FYI...the Per Diem is $106 per day for an NBA player.  It's high, but I know a lot of companies that give $75 for middle level managers and over $100 for executives.

[The Lens]

If you're going to spout about his possible salary don't forget that the NBA per diem is effing ridiculous. These guys don't even have to bring their own money on a road trip and if they don't blow it on drinking they can go home from every trip with anywhere from $800-$1500. Hell, bank that and let it sit gathering interest and you could pull another couple years off his time in the NBA.

It's a business as well as a talent.

FYI...the Per Diem is $106 per day for an NBA player.  It's high, but I know a lot of companies that give $75 for middle level managers and over $100 for executives.

And that comes to about $7,500 / year if you go on each trip.  The Rocky Mtn News did a great story on this last month:

http://www.rockymountainnews.com/drmn/nba/article/0,2777,DRMN_23922_5427887,00.html


 

[79Warrior]

The one thing that concerns me is if during the camps, DJ hears he'll be drafted, even if it is 2nd round and would certainly make a roster for league Minimum.

That's $427k in year one, even if you do ride the pine.  Chances are, he'd get a 2nd year.   That's $711k.  Presto.  You're set for life, if you don't pimp your Escalade every year.

If you think a few years at that salary and you are set for life then you best stay in college. Wow, you have no clue about the real world.

[MUEng92]

"A lot has changed in a year for Rockets rookie forward Steve Novak. He played last season for Mar- quette. "We got a $110 check every two weeks," he said. "That's about the same as we get in the NBA for one day." "

Exquezze me? 

[ChicosBailBonds]

If you're going to spout about his possible salary don't forget that the NBA per diem is effing ridiculous. These guys don't even have to bring their own money on a road trip and if they don't blow it on drinking they can go home from every trip with anywhere from $800-$1500. Hell, bank that and let it sit gathering interest and you could pull another couple years off his time in the NBA.

It's a business as well as a talent.

FYI...the Per Diem is $106 per day for an NBA player.  It's high, but I know a lot of companies that give $75 for middle level managers and over $100 for executives.

And that comes to about $7,500 / year if you go on each trip.  The Rocky Mtn News did a great story on this last month:

http://www.rockymountainnews.com/drmn/nba/article/0,2777,DRMN_23922_5427887,00.html


 

Yes, all true.  I guess I just don't see it as that crazy.  For people that travel a ton, and there are many that do, that number isn't that far off from what many execs, etc make when they travel.  I'd put an "exec" in the same genre as an athlete because there are so few of them and they are paid at the upper levels of the scale in benefits, salary and perks.

[ChicosBailBonds]

"A lot has changed in a year for Rockets rookie forward Steve Novak. He played last season for Mar- quette. "We got a $110 check every two weeks," he said. "That's about the same as we get in the NBA for one day." "

Exquezze me? 

Stipend money and reimbursement money.  Every athlete gets it.  I used to laugh when I was a KU when the beginning of each month it was dolled out to the athletes....what a circus.  It's all legit and in accordance with NCAA rules.

[The Lens]

If you're going to spout about his possible salary don't forget that the NBA per diem is effing ridiculous. These guys don't even have to bring their own money on a road trip and if they don't blow it on drinking they can go home from every trip with anywhere from $800-$1500. Hell, bank that and let it sit gathering interest and you could pull another couple years off his time in the NBA.

It's a business as well as a talent.

FYI...the Per Diem is $106 per day for an NBA player.  It's high, but I know a lot of companies that give $75 for middle level managers and over $100 for executives.

And that comes to about $7,500 / year if you go on each trip.  The Rocky Mtn News did a great story on this last month:

http://www.rockymountainnews.com/drmn/nba/article/0,2777,DRMN_23922_5427887,00.html


 

Yes, all true.  I guess I just don't see it as that crazy.  For people that travel a ton, and there are many that do, that number isn't that far off from what many execs, etc make when they travel.  I'd put an "exec" in the same genre as an athlete because there are so few of them and they are paid at the upper levels of the scale in benefits, salary and perks.

I agree...$7,500 is nothing when you're talking about a career that guarantees retirement by 35.

[Canned Goods n Ammo]

And we all know how great of businessmen/investors pro athletes are...

You can say that about any occupation. I know plenty of people who are successful in their "regular" jobs who are terrible with their business investments whether it be a restaurant, side business, etc.

On the flip side, there are fine examples of NBA players who have done well with their money in terms of investments (Grant Hill, Greg Anthony, Magic Johnson, etc.).

Can't throw the baby out with the bathwater. I'm just surprised at how quick we are to eat our own kid.

Couldn't agree with you more.

I know we have all seen the cliche NBA player with jewelry, pimped ride and an entourage the size of a small city... but to make any assumptions about how DJ will or will not invest his money is crazy.

Lots of players have invested well... we just see and hear about the ones who have wasted the most money, not those who have carved out a nice career playing and then coaching/scouting.

DJ's been a model student athlete and a good person from all credible reports... so why as soon as he has some money do we assume he will start trying to be a "baller" and blow $400,000 per year.

Sheesh.

[Coobeys Oil Depot]

If you're going to spout about his possible salary don't forget that the NBA per diem is effing ridiculous. These guys don't even have to bring their own money on a road trip and if they don't blow it on drinking they can go home from every trip with anywhere from $800-$1500. Hell, bank that and let it sit gathering interest and you could pull another couple years off his time in the NBA.

It's a business as well as a talent.

FYI...the Per Diem is $106 per day for an NBA player.  It's high, but I know a lot of companies that give $75 for middle level managers and over $100 for executives.

And that comes to about $7,500 / year if you go on each trip.  The Rocky Mtn News did a great story on this last month:

http://www.rockymountainnews.com/drmn/nba/article/0,2777,DRMN_23922_5427887,00.html


 

Yes, all true.  I guess I just don't see it as that crazy.  For people that travel a ton, and there are many that do, that number isn't that far off from what many execs, etc make when they travel.  I'd put an "exec" in the same genre as an athlete because there are so few of them and they are paid at the upper levels of the scale in benefits, salary and perks.

I agree...$7,500 is nothing when you're talking about a career that guarantees retirement by 35.

I didn't mean to infer that the per diem would pay for their child's prep school. I've read about higher per diems but clearly I misread if they are all set at $106. I'm just thinking along the lines that you take that money and spend and, ideally, "save" around $7,500 that almost becomes "free" money in a sense. Take that, put in the bank, and sit back.

[mu_hilltopper]

The one thing that concerns me is if during the camps, DJ hears he'll be drafted, even if it is 2nd round and would certainly make a roster for league Minimum.

That's $427k in year one, even if you do ride the pine.  Chances are, he'd get a 2nd year.   That's (edit: another) $711k.  Presto.  You're set for life, if you don't pimp your Escalade every year.

If you think a few years at that salary and you are set for life then you best stay in college. Wow, you have no clue about the real world.

I don't?  No clue?  Please explain how a pre-tax annuity of $91k per year (for life) wouldn't enable you to live pretty comfortably in the US .. seeing as $88k (also pre-tax) puts you in the upper quartile of income in the US (and that's WITH working 2080 hours/year.)  Since 4/5ths of the US would give their left nut to make $91k/year (especially without ever working another day), I think I have a pretty strong case.

(The CPA side of me decided to run the numbers, even with additional payments removed from principal to make up for inflation as the decades go on.  You run out of money at age 91, never working again.)

[TJ]

And we all know how great of businessmen/investors pro athletes are...

You can say that about any occupation. I know plenty of people who are successful in their "regular" jobs who are terrible with their business investments whether it be a restaurant, side business, etc.

On the flip side, there are fine examples of NBA players who have done well with their money in terms of investments (Grant Hill, Greg Anthony, Magic Johnson, etc.).

Can't throw the baby out with the bathwater. I'm just surprised at how quick we are to eat our own kid.

Couldn't agree with you more.

I know we have all seen the cliche NBA player with jewelry, pimped ride and an entourage the size of a small city... but to make any assumptions about how DJ will or will not invest his money is crazy.

Lots of players have invested well... we just see and hear about the ones who have wasted the most money, not those who have carved out a nice career playing and then coaching/scouting.

DJ's been a model student athlete and a good person from all credible reports... so why as soon as he has some money do we assume he will start trying to be a "baller" and blow $400,000 per year.

Sheesh.

I think it's also safe to assume that he's not going to save every penny of his first two years worth of paychecks to get himself a long-term annuity.  Any assumption that he would have anywhere near the full amount of his salary to invest is crazy.  Good investor or not, it's just not going to happen.  House, car, trainer, clothes, electronics, etc.  Even if he's frugal, you can't expect him to bring home $500k and not spend any of it.

[DAtruth]

nba players may not think 1 million is a lot but to a kid coming into the league ...WITH NOT A RED CENT..that looks great..dj isnt a seasoned nba vet and he doesnt think like 1 either...i believe that he thinks as long as he can get his "shot" he will make the best of it...over-achiever his entire life..why should he feel differently now... i think the challenge excites him and i wish him the best...stays or goes, we will see an inspired dj somewhere next yr

[Canned Goods n Ammo]

And we all know how great of businessmen/investors pro athletes are...

You can say that about any occupation. I know plenty of people who are successful in their "regular" jobs who are terrible with their business investments whether it be a restaurant, side business, etc.

On the flip side, there are fine examples of NBA players who have done well with their money in terms of investments (Grant Hill, Greg Anthony, Magic Johnson, etc.).

Can't throw the baby out with the bathwater. I'm just surprised at how quick we are to eat our own kid.

Couldn't agree with you more.

I know we have all seen the cliche NBA player with jewelry, pimped ride and an entourage the size of a small city... but to make any assumptions about how DJ will or will not invest his money is crazy.

Lots of players have invested well... we just see and hear about the ones who have wasted the most money, not those who have carved out a nice career playing and then coaching/scouting.

DJ's been a model student athlete and a good person from all credible reports... so why as soon as he has some money do we assume he will start trying to be a "baller" and blow $400,000 per year.

Sheesh.

I think it's also safe to assume that he's not going to save every penny of his first two years worth of paychecks to get himself a long-term annuity.  Any assumption that he would have anywhere near the full amount of his salary to invest is crazy.  Good investor or not, it's just not going to happen.  House, car, trainer, clothes, electronics, etc.  Even if he's frugal, you can't expect him to bring home $500k and not spend any of it.

I agree that the average NBA player has expenses that the average person will and could never have (trainer, agent, accountant, etc etc.).

I'm just saying that people here seem to hint at that DJ would be buying up new jewlery and vehicles for his whole family and that $400,000 per year wouldn't be a TON of money.

Hell, $80,000/year is a TON of money to most Americans.

[TJ]

And we all know how great of businessmen/investors pro athletes are...

You can say that about any occupation. I know plenty of people who are successful in their "regular" jobs who are terrible with their business investments whether it be a restaurant, side business, etc.

On the flip side, there are fine examples of NBA players who have done well with their money in terms of investments (Grant Hill, Greg Anthony, Magic Johnson, etc.).

Can't throw the baby out with the bathwater. I'm just surprised at how quick we are to eat our own kid.

Couldn't agree with you more.

I know we have all seen the cliche NBA player with jewelry, pimped ride and an entourage the size of a small city... but to make any assumptions about how DJ will or will not invest his money is crazy.

Lots of players have invested well... we just see and hear about the ones who have wasted the most money, not those who have carved out a nice career playing and then coaching/scouting.

DJ's been a model student athlete and a good person from all credible reports... so why as soon as he has some money do we assume he will start trying to be a "baller" and blow $400,000 per year.

Sheesh.

I think it's also safe to assume that he's not going to save every penny of his first two years worth of paychecks to get himself a long-term annuity.  Any assumption that he would have anywhere near the full amount of his salary to invest is crazy.  Good investor or not, it's just not going to happen.  House, car, trainer, clothes, electronics, etc.  Even if he's frugal, you can't expect him to bring home $500k and not spend any of it.

I agree that the average NBA player has expenses that the average person will and could never have (trainer, agent, accountant, etc etc.).

I'm just saying that people here seem to hint at that DJ would be buying up new jewlery and vehicles for his whole family and that $400,000 per year wouldn't be a TON of money.

Hell, $80,000/year is a TON of money to most Americans.

I think one thing we should be able to agree on is that NBA Players are not most Americans.  I do think that DJ can and will manage his income reasonably whenever it comes and however much it is, but he's not coming from the same place we are.  Most of us are surrounded by people that make similar amounts to us.  He's going to be surrounded solely by multi-millionaires.  It's just a different life than most of us have any idea about.

[Final Four or Bust]

Rawdog is right, and I think his numbers are on the extreme low end personally -- and that is not living out of control.  You really think he will only spend $4k on clothes -- one or two suits maybe.  Rookie money isn't much by itself, and frankly $91K isn't that much money to be honest.  Remember, these are kids who have spent years in college -- they don't have a house or condo usually, don't have home furnishings, don't have the clothes or the cars that he might need.  Even after I got my first good job I went out and spent a ton not because I was blowing it, but because you need to set yourself up.  God forbid his gets drafted by the Knicks, Nets, Lakers,Clippers, Heat, Bulls, Wizards or any other team in a big city -- his remaining salary wouldn't cover the down payment on a house.  Wait, that's half the NBA.  Better hope he gets drafted by the Bucks, Pacers or another "cheap" town.

[Final Four or Bust]

The one thing that concerns me is if during the camps, DJ hears he'll be drafted, even if it is 2nd round and would certainly make a roster for league Minimum.

That's $427k in year one, even if you do ride the pine.  Chances are, he'd get a 2nd year.   That's (edit: another) $711k.  Presto.  You're set for life, if you don't pimp your Escalade every year.

If you think a few years at that salary and you are set for life then you best stay in college. Wow, you have no clue about the real world.

I don't?  No clue?  Please explain how a pre-tax annuity of $91k per year (for life) wouldn't enable you to live pretty comfortably in the US .. seeing as $88k (also pre-tax) puts you in the upper quartile of income in the US (and that's WITH working 2080 hours/year.)  Since 4/5ths of the US would give their left nut to make $91k/year (especially without ever working another day), I think I have a pretty strong case.

(The CPA side of me decided to run the numbers, even with additional payments removed from principal to make up for inflation as the decades go on.  You run out of money at age 91, never working again.)

No you don't, frankly.  You assume his entire pre-tax income is somehow invested in the market, yet fail to realize what he could ACTUALLY invest after initial expenses like, oh, TAXES are taken out.  Please explain to me how someone gets that return on the money someone would realistically have first, then we can go to the next step.

And as I pointed out -- don't live in any city because that doesn't get it done there.  If you want to live in the middle of nowhere that will provide you a decent living.  Living in any metropolis comfortably is a far different story. I am guessing by your comments that you don't and haven't. 

[mu_hilltopper]

Isn't the off-season great?  We get to argue over whether $1.13 million dollars is a lot of money or not.

I give up.

[ecompt]

Wer're arguing money here and there's absolutely no guarantee DJ will see a penny of it. Suppose he's promised a spot in the first round, so he stays in the draft. Then some team changes its mind and DJ falls, to say, 40th. Then he doesn't make the team in training camp. See ya. No money.

[Final Four or Bust]

Wer're arguing money here and there's absolutely no guarantee DJ will see a penny of it. Suppose he's promised a spot in the first round, so he stays in the draft. Then some team changes its mind and DJ falls, to say, 40th. Then he doesn't make the team in training camp. See ya. No money.

Or worse yet he stays and goes undrafted ala Randoph Morris -- then the board monitors the health of NBA PGs weekly to see if someone might reach out and sign him, or wonders whether if he has a good game he will sign and be gone.  If you thought the speculation about the draft this year was bad, what happens if he stays and isn't selected?

[RawdogDX]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

He won't be making 91K a year.  Where are you getting that from?  By adding up his two year pay and saying that's what he'll have in the bank? 

If he has 100K in the bank after his first year I would be amazed.  Are you still in school?
Lets say his take home pay after taxes and after his agent (10%?) and after his trainer and any other of the cost we don't know about that involve getting ready for the nba draft get added up his take home pay will probably be about half his salary.  We'll say 215.
His mom lives in the ghetto i'm pretty sure he'll want to get her out of there, we'll say that's an additional cost of 30K.
185
He wants to buy a car... Pretty sure he wouldn't be happy with a saturn.  we'll say 40K.  I think that's being VERY modest
145
Oh, he hasn't even gotten a pad for him and mom yet.  We'll assume he'll rent and puts 1,200 a month into it.
131
Plazma TV 2K
129
Some going out bling 5K
124
car for mom, 20
104
clothes, nba players have to get suited up and you know james will want to look good. 4k
100
we haven't coverd, clubbing expenses, girlfriend costs, vaction costs, food, his nintendo wii, a sound system for the plazma tv, furnature for where he's living, plain tickets for having some old highschool friends visit. 

But never mind all that i'm sure you are correct and all 2nd round picks in the NBA have 1.4 mil in the bank after their 2nd season.

Dude, you have spent too much time watching MTV cribs.

Just because he is young doesn't mean he is going to need "ice" and plasma tv's everywhere.

Give the kid a break.

I understand that he will probably purchase some nice things because he will be making good money, but you spit out so many stereotypes there I can hardly type right now.

Maybe he will invest all of it... who the hell knows???

And does DJ's mom really live in the ghetto? I don't know if I have heard that before. It could be true, but I've just never heard that.

What the hell are you talking about?  MTV Cribbs.  I said 1,200 a month for rent.  THat's not big living.  I live in chicago, some people i know live in $h!t holes for that much.  40 grand for a car?  That's not exactly living large.  Plazma TV's everywhere?  I said 1 for 2 grand, that's a small plazma you douche..  Stereo types?  This is 100% based on what i would do.  And every thing I put was put with the idea that he lives completely reasonably and saves 25% of his salery.  I WISH i invested 25%.  So basically i worked under the assumption he manages cash better than me.

Why don't you think before you call someone a racist. 

[RawdogDX]

The one thing that concerns me is if during the camps, DJ hears he'll be drafted, even if it is 2nd round and would certainly make a roster for league Minimum.

That's $427k in year one, even if you do ride the pine.  Chances are, he'd get a 2nd year.   That's (edit: another) $711k.  Presto.  You're set for life, if you don't pimp your Escalade every year.

If you think a few years at that salary and you are set for life then you best stay in college. Wow, you have no clue about the real world.

I don't?  No clue?  Please explain how a pre-tax annuity of $91k per year (for life) wouldn't enable you to live pretty comfortably in the US .. seeing as $88k (also pre-tax) puts you in the upper quartile of income in the US (and that's WITH working 2080 hours/year.)  Since 4/5ths of the US would give their left nut to make $91k/year (especially without ever working another day), I think I have a pretty strong case.

(The CPA side of me decided to run the numbers, even with additional payments removed from principal to make up for inflation as the decades go on.  You run out of money at age 91, never working again.)

I don't understand where you are getting these numbers from.  No one does.  Please explain how someone can get 91 grand a year by making 1.4 mil then paying taxes, paying for an agent and paying living expenses.  Realistically, even if he lives off grule, get's a studio apartment, drives a saturn, shops at wallmart, doesn't go to clubs, doesn't get a girl friend who wants him to buy him anything, doesn't get cable, doesn't go on vacation, doesn't hire any sort of personal trainer during the offseaon.  (cuase that is what happens)
He'll have how much of that in the bank? 750 k, maybe? 

[Canned Goods n Ammo]

Ah.  I see.  So all those people in the US making $91k/year don't have houses or kids? uh-huh.

He won't be making 91K a year.  Where are you getting that from?  By adding up his two year pay and saying that's what he'll have in the bank? 

If he has 100K in the bank after his first year I would be amazed.  Are you still in school?
Lets say his take home pay after taxes and after his agent (10%?) and after his trainer and any other of the cost we don't know about that involve getting ready for the nba draft get added up his take home pay will probably be about half his salary.  We'll say 215.
His mom lives in the ghetto i'm pretty sure he'll want to get her out of there, we'll say that's an additional cost of 30K.
185
He wants to buy a car... Pretty sure he wouldn't be happy with a saturn.  we'll say 40K.  I think that's being VERY modest
145
Oh, he hasn't even gotten a pad for him and mom yet.  We'll assume he'll rent and puts 1,200 a month into it.
131
Plazma TV 2K
129
Some going out bling 5K
124
car for mom, 20
104
clothes, nba players have to get suited up and you know james will want to look good. 4k
100
we haven't coverd, clubbing expenses, girlfriend costs, vaction costs, food, his nintendo wii, a sound system for the plazma tv, furnature for where he's living, plain tickets for having some old highschool friends visit. 

But never mind all that i'm sure you are correct and all 2nd round picks in the NBA have 1.4 mil in the bank after their 2nd season.

Dude, you have spent too much time watching MTV cribs.

Just because he is young doesn't mean he is going to need "ice" and plasma tv's everywhere.

Give the kid a break.

I understand that he will probably purchase some nice things because he will be making good money, but you spit out so many stereotypes there I can hardly type right now.

Maybe he will invest all of it... who the hell knows???

And does DJ's mom really live in the ghetto? I don't know if I have heard that before. It could be true, but I've just never heard that.

What the hell are you talking about?  MTV Cribbs.  I said 1,200 a month for rent.  THat's not big living.  I live in chicago, some people i know live in $h!t holes for that much.  40 grand for a car?  That's not exactly living large.  Plazma TV's everywhere?  I said 1 for 2 grand, that's a small plazma you douche..  Stereo types?  This is 100% based on what i would do.  And every thing I put was put with the idea that he lives completely reasonably and saves 25% of his salery.  I WISH i invested 25%.  So basically i worked under the assumption he manages cash better than me.

Why don't you think before you call someone a racist. 

Dude, we can agree to disagree no big deal... but saying that his mom "lives in the ghetto" (can anybody confirm what their living status is?), and "Some going out bling for 5K" is a little stereotypical... it just is.

IF DJ goes pro, he will buy what he needs/wants... whatever that may be (that may or may not include jewelry, clubbing and girlfriend expenses)

Also, I wouldn't expect him to pay for the vehicles with cash, so that will free up some money as well.

The kid is going to make a lot of money, and that's great for him and his family. How he (and they) chose to spend it is up to them.