67 replies to this topic

[PureGreatness]

I think his Ex-Wife did it or had something to do with it.

[HawksFan87]

I hate to speculate when it comes to situations like this one but. His ex was the last person to see him alive, minutes later he's dead? She better get a good lawyer. They are going to come after her hard.

[gsuteke]

gsuteke, on 28 July 2010 - 09:17 PM, said:

well this ought to show everyone that money and fame isn't everything.

I've got 3 kids and i wouldn't trade a dollar of his money for my time with them. he mismanaged his money per to the news reports which was due to him not having any levity in respect to an exit strategy but still no kid deserves to grow up without a dad.

i predict there will be more stories like this as the delonte west types move along in the league.

That was poorly phrased. What I meant was he was apparently robbed per reports. He didn't deserve to have that to happen to him and his kids certainly don't deserve to grow up without by all accounts a good dad.

The mismanagement of money was part of the report that came out and was a rambling thought in my head that has absolutely nothing to do with this discussion.

Money and fame aren't everything, especially if god forbid you wind up in a situation where something like this happens if the police are right and it was a robbery.

Lo Wright certainly didn't deserve that and his kids are the real tragedy in this case. My prayers go out to them.

[HawksFan87]

I wonder how the players are taking this news. I know that Smoove and Lo Wright were good friends. It's shocking.

[lethalweapon3]

Thanx 'teke for the clarification. Also noteworthy is that bipolar disorder/mental illness is never a good predictor for identifying the next murder victim in the NBA (re: D. West, assuming there's no stories of him that you were referring to having squandered his finances), and it's best not to use someone's untimely demise to project the fates of others anyway.

~lw3

[gsuteke]

lethalweapon3, on 29 July 2010 - 07:13 AM, said:

Thanx 'teke for the clarification. Also noteworthy is that bipolar disorder/mental illness is never a good predictor for identifying the next murder victim in the NBA (re: D. West, assuming there's no stories of him that you were referring to having squandered his finances), and it's best not to use someone's untimely demise to project the fates of others anyway.

~lw3

Guilty as charged.

I did feel bad after reading my original post because it did come across as disparaging lo and that was the opposite of my intent.

I can't get 6 kids ages 4 to 15 out of my head. Thinking about explaining this to a 4 year old makes my stomach queasy.

[Wretch]

Oh man... :(

[coachx]

gsuteke, on 28 July 2010 - 09:17 PM, said:

well this ought to show everyone that money and fame isn't everything.

I've got 3 kids and i wouldn't trade a dollar of his money for my time with them. he mismanaged his money per to the news reports which was due to him not having any levity in respect to an exit strategy but still no kid deserves to grow up without a dad.

The truth should not be negged.........it should be learned from. This seems fiancially driven to me. This is an issue that is so common yet millionaire athletes continue to go broke within 2 to 5 years of retirement.

Here are just a few NBA players who have gone bankrupt within the last year or so:
Kenny Anderson
Scottie Pippen
Antoine Walker
Lo Wright
Latrell Sprewell
Rick Mahorn - and no longer has Championship Rings

Then you have Tyson, Holyfield, L. Taylor (football), J Clark (baseball), L Dykstra (baseball), J Daly (golf)

http://mrod.wordpres...letes-go-broke/
March 28, 2009 · 3 Comments

Quote

Sports Illustrated has an interesting article on professional athletes tendencies–regardless of the economy, which can however exacerbate the downward spiral–to run out of money and sometimes become bankrupt or in the case of former NFL running back Travis Henry be completely penniless and jailed for nonpayment of child support.

SI argues that this is a financial pandemic across the NBA, NFL and MLB, citing for instance that within two years of retirement from the league, “78% of former NFL players have gone bankrupt or are under financial stress because of joblessness or divorce, ” [b]and similarly “within five years of retirement, an estimated 60% of former NBA players are broke.” (I think we can say the same thing about college. “Within 5 years after graduation X% of graduates are under severe financial stress!”)

Edited by coachx, 29 July 2010 - 09:21 AM.

[niremetal]

coachx, on 29 July 2010 - 09:03 AM, said:

The truth should not be negged.........it should be learned from. This seems fiancially driven to me. This is an issue that is so common yet millionaire athletes continue to go broke within 2 to 5 years of retirement.

Here is a list of currect NBA players who have gone bankrupt:
Kenny Anderson
Antoine Walker
Lo Wright
Latrell Sprewell
Rick Mahorn - and no longer has Championship Rings

http://mrod.wordpres...letes-go-broke/
March 28, 2009 · 3 Comments

You're right that pro athletes blowing their fortunes is a major problem. I think that tying that to Lo's murder is more than a bit of a stretch based on what we know, though...

[lethalweapon3]

http://www.myfoxmemp...ger_Gunned_Down

The bigger factor than money management is that basketball players (especially those with some measure of reputation) are sitting ducks in communities where they should be retiring heroes. As 'Toine would acknowledge, stick-up kids could care less how many homes you just foreclosed, what charities you just donated to, or how many kids you have to feed.

A renowned Memphis high school. college, and NBA player cannot survive getting a haircut in the Memphis area. A Charlotte player can't leave his wife safely at his gated subdivision home when he heads out of town for a basketball camp. Those who entertain us to make a living should not have to be spending their playing days and their post-retirement days glancing over their shoulders and shielding their families because some fool thinks they've got a few loose bills left over in their pockets. It's bigger than financial security... it's security.


~lw3

[lethalweapon3]

If we really need one, HERE's the Exhibit A example of how not to be spending your time and money in Memphis.

http://sports.espn.g...tory?id=4344768

~lw3

[Chinky_eyed_hawk]

R.I.P LO

You will be missed!!

[Swatguy]

coachx, on 29 July 2010 - 09:03 AM, said:

The truth should not be negged.........it should be learned from. This seems fiancially driven to me. This is an issue that is so common yet millionaire athletes continue to go broke within 2 to 5 years of retirement.

Here are just a few NBA players who have gone bankrupt within the last year or so:
Kenny Anderson
Scottie Pippen
Antoine Walker
Lo Wright
Latrell Sprewell
Rick Mahorn - and no longer has Championship Rings

Then you have Tyson, Holyfield, L. Taylor (football), J Clark (baseball), L Dykstra (baseball), J Daly (golf)

http://mrod.wordpres...letes-go-broke/
March 28, 2009 · 3 Comments

"Bankruptcy Facts (found in USA Today, Wall Street Journal, CNN-Financial, and The Gallop Poll)

•The typical filer is a white, married homeowner who works full-time, with a household income of less than $30,000 and an average debt of $47,000. (Not including home mortgage)
•19% of filers are college students
•51% of filers have a close friend or relative that has also filed
•63% of filers blamed credit card bills. 50% blamed mismanagement. 37% blamed pay cuts or job loss, and 28% blamed medical bills
•43% of the general public polled said bankruptcy is an acceptable and easy way to settle financial difficulties
•89% of filers still get credit card offers on a regular basis
•More than half of the filers are "baby boomers"
•Bankruptcy rates are significantly higher in the states that make it easiest for creditors to garnish wages of debtors "


Sounds like, not a typical Pro Athlete. unless a retired Golfer or Tennis player.


http://www.bankruptc...?event=dspStats

Edited by Swatguy, 29 July 2010 - 10:11 AM.

[coachx]

Swatguy, on 29 July 2010 - 10:10 AM, said:

"Bankruptcy Facts (found in USA Today, Wall Street Journal, CNN-Financial, and The Gallop Poll)

•The typical filer is a white, married homeowner who works full-time, with a household income of less than $30,000 and an average debt of $47,000. (Not including home mortgage)
•19% of filers are college students
•51% of filers have a close friend or relative that has also filed
•63% of filers blamed credit card bills. 50% blamed mismanagement. 37% blamed pay cuts or job loss, and 28% blamed medical bills
•43% of the general public polled said bankruptcy is an acceptable and easy way to settle financial difficulties
•89% of filers still get credit card offers on a regular basis
•More than half of the filers are "baby boomers"
•Bankruptcy rates are significantly higher in the states that make it easiest for creditors to garnish wages of debtors "


Sounds like, not a typical Pro Athlete. unless a retired Golfer or Tennis player.


http://www.bankruptc...?event=dspStats

This has nothing to do with your average Jo's filing bankruptcy for $40,00 debt.

People who have earned over $50 million before they turn 35 have no business filing bankruptcy. That was kind of the whole point, ya know ? Yet dozens of x-pro athletes, who should have millions in the bank, go broke every year.

[lethalweapon3]

I'm with coachx on this one, although I believe the financial-straits angle for Lo's case is at best premature.

As I mentioned above, while we see these guys as hoopsters and human highlight reels, others see them as exploitative targets. Yet it's not just the stick-up kids on the corners, but the Dykstra-esque characters who boast of elixirs for long-term financial sustenance to anyone who'll listen. Athletes are routinely suckered into real estate and financial deals from ill-intentioned friends and their associates, who will in turn use their celebrity names to gain their own questionable enterprises even more legitimacy. The NBPA and other player-rep groups have got to take more of a role in sifting out shady characters and shady business plans, and the players individually have to be more vigilant in listening to them.

~lw3