Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:03):
Yesterday we talked about the indiscretions of Detroit's Malik Beasley,
who was about to get a substantial raise a three
year contract in the neighborhood of forty three million dollars,
but it's now been put on hold because he's under
investigation from the NBA to because of gambling allegations and
prop betting and maybe about on basketball or on himself
(00:27):
or on his team, and they're doing all that. Beasley
made six million dollars last year. I don't know what
the NBA Players Association does or does not do, but
I do think that we have got to figure out
a way and we're going to talk about entitlement a
little bit later, but we got to figure out a
way to explain to players what six million dollars is,
(00:49):
what seven million is, what's the difference between six million
and sixty million, Because I think a lot of people,
regardless of their socioeconomic background, regardless of where they live
in the world, they don't understand money, and they don't
understand the effects and the intoxication that money can bring you,
and the fact that you can pull out a credit
card and buy anything you want, whenever you want, and
(01:10):
that you don't understand what you're doing when it comes
time to pay said credit card. Because apparently Malik Beasley
needed some extra money, and he borrowed six hundred thousand
either from his agent or in advance from the Pistons,
and when it came time to pay it back, he
could not, And there'res speculation that that's the reason why
(01:30):
he opted into some gambling opportunities, thinking he could control
the outcome of those situations to make that money back
and to pay everybody and get himself out of debt.
Six million dollars. That's five hundred grand a month for
twelve months. He lives in Detroit, so there's a city tax,
there's a state tax, and there's a federal income tax,
(01:51):
and I'm sure there's benefits and escrow money that he
has to put in there for the players associationless. So
let's say he's making half every month, he's getting a
check for two hundred fifty thousand dollars. He probably doesn't
know that less than zero point one percent of the
world makes that kind of money, and he's got to
stop living like he's the king for the day. You
(02:14):
can still buy a million dollar home. Your your payment
on a million dollar home is likely going to be
what ten thousand a month, nine thousand a month somewhere
like that. Sure, maybe you get a good finances, well,
maybe you pay a little bit of cash for it,
you know, stay in apartment for a couple of months.
In one paycheck, you could almost buy a house, certainly
put a big down payment on it. To think that
(02:36):
you could spend one hundred thousand to one hundred and
fifty thousand dollars a month and still have money left
over is something that young athletes and young people in
general just don't get. And why did he ever need
an advance? What are you buying? Get yourself a trusted investor.
If you save one hundred grand a month in a
(02:59):
or one point two million a year in a some
kind of a tax shelters account of some kind, by
the time you're forty, you're gonna be worth fifteen twenty
million bucks just on simple investing stuff, just six percent
a year. We've got to figure out a way to
start in uh, in getting to players, maybe mandatory rookie
(03:21):
type in doctrinations, maybe mandatory classes that they have to
take on finance those well, but they don't.
Speaker 2 (03:28):
But they're not paying attention to them.
Speaker 1 (03:29):
Maybe they got to take a test before they get
their first paycheck. And I understand the NBA is not
in the in the business of babysitting, but they also
have to protect their brand. And when athletes walk in
a building and they see a casino in the whatever
the name of the building now is in Philadelphia, and
they and they see athletes and people calling them all
(03:50):
the time asking them who they should bet on, and
they know that they have an outcome in that there's
this not only as there's this temptation, but there's this
lack of education, this ignorance that says, well, I'm an
NBA basketball player, I can do whatever I want. And
you've heard stories before, and I know these stories are true.
You go to the car dealership for a car and I, well,
(04:11):
I like both the red one and the black one,
and the dealer jokingly says, well, why can't you buy both?
You have enough money to do it, and you do,
and then you have to go back to the Herm
Edward stuff. You only can drive one car at a time,
pay cash for your car. You don't need to have
a car payment. You're not You're using your car to
go from point to point B. You're not using it
for business, you're not writing it off. Just go pay
(04:31):
cash for the car, go pay cash for the house,
and have limited bills and save your money. You can
go to all the clubs you want and spend as
much as you want and still.
Speaker 2 (04:43):
Have money left over.
Speaker 1 (04:44):
I can't understand why a basketball player, and I know
in terms of an NBA salary, six million dollars is
not a lot, but there's got to be a better
way to educate players that when you get into the league,
it's not only about staying in the and being here
for a long time, but whether you're here a year
or you have a twenty year career, that when you leave,
(05:06):
you don't have to do something. You have options, and
it's it's there's some players that get it, but they're
they're the minority, and we're going to have more players
that are going to be tempted into gambling. We're going
to have more indiscretions along this way to where people
think the games are rigged or fixed, or the outcomes
of prop bets are rigged or fixed, because players are
(05:26):
going to be tempted to put a bet down or
have somebody do it for them. And uh, when I
read the story today that Malik kab Easiley needed an
extra six hundred thousand dollars because he was he had
to buy something, I don't what are you buying? You know,
if you're if you're an NBA player, you can get
a mortgage on any home that you want, within reason,
(05:47):
and even with not even within reason, certainly nothing that
anybody else could afford. But I think that there's got
to be some kind of an education process. I remember
when Terry Cummings played for the Spurs and then left
and his last stop was in Oakland, and I don't
remember the player's name in Oakland that he was. Basically
(06:08):
the last two years Terry Cummings' legs were shot, but
Golden State kept him on the payroll so he could
babysit some of the younger players and teach them how
to live their lives and teach them how to invest
their money, and teach them where not to go and
where not to be and what not to spend money on.
And many of those players listened to him and would
not have been in the situation they are now had
(06:28):
they not. So Terry Cummings didn't come from a great,
a wealthy home. He grew up on the West Side
of Chicago, like a lot of great players did, with nothing.
But he certainly and I don't know what his situation
is now, but at one point he was well off
into retirement. And there's plenty of opportunities to get to
these athletes, to get to these athletes and to teach
(06:50):
them ways in which they can protect their assets without
them resorting to the temptation of gambling, which is going
to end their opportunity to ever make that money. Malik
Beasley's not thirty years old. He may not even be
twenty six years old. I am his age lately, but
Malik Beasley is likely if these if this evidence is accurate,
(07:10):
it's never going to play an organized basketball game.
Speaker 2 (07:13):
For the rest of his life.
Speaker 1 (07:14):
Over five hundred thousand dollars that could have easily been
avoided if he'd have had some semblance of a financial plan.
And you know, I go back several years ago when
San Antonio's and Dallas Cowboys Sam Hurd got a pop
for dealing drugs to an undercover FBI agent.
Speaker 2 (07:34):
I think it was coke, right, Yeah, he.
Speaker 1 (07:36):
Was running drugs for one of the cartels, and basically
he said, I was making eight hundred grand a year
and living like I was making eight hundred grand a week,
and then I wanted to keep up with Troy and
Emmett and all the guys or whoever was on the
team at the time. I wanted to be them because
they were getting all And you can live a great
life on six million, but it's not like you're making
(07:59):
sixty million. You're not living like shay Gil just Alexander
is when he's going to make a million a game
here in a few years, six millions a lot, but
it's not what the other guys are making. And you're
a role player, and you have to understand that you've
got a great opportunity. One of the best NBA stories
ever and he passed away earlier this year, and that's
(08:19):
Junior Bridgeman, who was part of the Milwaukee Bucks trade
in the seventies for Kareem Abdul Jabbar and Junior Bridgeman
never in his NBA career made more than four hundred
grand a year, and he retired and went into fast
food business and owned a lot of taco bells and
Kentucky Fried chickens and a lot of the PepsiCo brand stuff,
and at the time of his passing, he was worth
(08:42):
almost a billion dollars. You can do this, It's not hard.
You just have to want to and you have to care.
And I think the NBA is going to have and
other sports leagues are going to have to step up
and go, Okay, we've got to police ourselves from the
temptation of gambling by making sure that these athletes understand
how to take care of their finances.
Speaker 3 (09:01):
They're they're grown, they're grown men.
Speaker 2 (09:03):
Andy, They're not.
Speaker 1 (09:04):
They may be the grown men on the on paper,
but they're there. Certainly have they have never been educated
at the level that that most twenty eight year.
Speaker 3 (09:12):
Olds would know. You can't babysit them forever. I get that,
you know, hey, in this new realm of gambling everywhere,
but you can't babysit everybody. And a player of at
least Malik Besy Beasley's stature, I could say I could
at least thought that I'm condoning it, but I would
(09:33):
expect it more along the lines of believable, like a
Johntay Porter, a guy who's third Spring elite. Beasley has
made this year just under sixty million dollars in his
career in the NBN.
Speaker 1 (09:46):
But here, here's don't get You don't have to babysit
them when you're twenty eight, But he needed to be
babysit when he was nineteen, when he first came into
the league, when he was first in college where he
first started getting to be an NBA material Because they
may say it may be on paper that they're twenty one,
but they've never taken a class on it. We certainly
don't teach that in public schools. We got to pass
a star test more important than learning how to do finances.
(10:09):
So we got to get to a point to where
we educate these people. And basically the NBA, I think,
needs to sit down and go. You can't pass a
test on finances, you can't sign a contract.
Speaker 2 (10:19):
Yeah, And we got to get because here's what's going
to happen.
Speaker 1 (10:23):
When is somebody going to throw an NBA playoff game
and the league is gonna go to go and they're
gonna go, why'd you do it?
Speaker 2 (10:28):
Well?
Speaker 1 (10:28):
I needed five million dollars because I was in debt
and it could have been stopped if somebody would have
intervened with that person. I know it's not likely to happen,
and I don't like the idea of babysitting adults, but
adults that are young adults are going.
Speaker 2 (10:41):
To make stupid mistakes.
Speaker 1 (10:42):
They're going to put a stain on the league because
all this gambling stuff is out there and guys like
Malik Beasley are going to be tempted to do it.
He hasn't proven that he's done it yet, but the
evidence is pretty overwhelming that he was involved somehow, or
the league wouldn't be telling the Pistons to hold off
on his contract extension.
Speaker 3 (10:57):
I don't know if we'll if we'll ever get to
that particular, sir, circumstance, but I definitely think what we
are going to get more stories along the lines of
the prop bets kind of a thing. You know, in
a fifteen point game, you know, he gets told or
he knows Hey, my prop for the for today is
(11:18):
five rebounds. If I get under five, I'm gonna get this,
or you know.
Speaker 1 (11:23):
And the rebound comes right to him and he somehow
misses the rebounds.
Speaker 3 (11:26):
Yeah, I can see that, But I don't know if
we would get to the scenario of actually throwing games,
because that's when again that that's.
Speaker 2 (11:34):
When we get the lines. You get desperate enough, you'll
do something.
Speaker 3 (11:37):
Maybe, But that's when we get more along the lines
of the red flags get up even higher to where, hey,
if you're throwing ten thousand dollars on a Duke versus
North Carolina game, that's that's.
Speaker 1 (11:47):
But if you're throwing if you're throwing ten million dollars
on a Detroit New York playoff game, that's problem. Yes,
And it could be avoided if you educated him on
how to take care of his money in the first place.
Speaker 3 (11:58):
I don't know with that.
Speaker 2 (12:00):
I don't know if I agree with that.
Speaker 1 (12:02):
I mean, the NFL has the Rookie Symposium. I think
the NBA is something similar, but it needs to get
deeper because we're having too many players get tempted by
the lure of gambling. All right, by US discussion and
WNBA All Star voting coming up, it's the Andy Everette
Show on the ticket
Yesterday we talked about the indiscretions of Detroit's Malik Beasley,
who was about to get a substantial raise a three
year contract in the neighborhood of forty three million dollars,
but it's now been put on hold because he's under
investigation from the NBA to because of gambling allegations and
prop betting and maybe about on basketball or on himself
(00:27):
or on his team, and they're doing all that. Beasley
made six million dollars last year. I don't know what
the NBA Players Association does or does not do, but
I do think that we have got to figure out
a way and we're going to talk about entitlement a
little bit later, but we got to figure out a
way to explain to players what six million dollars is,
(00:49):
what seven million is, what's the difference between six million
and sixty million, Because I think a lot of people,
regardless of their socioeconomic background, regardless of where they live
in the world, they don't understand money, and they don't
understand the effects and the intoxication that money can bring you,
and the fact that you can pull out a credit
card and buy anything you want, whenever you want, and
(01:10):
that you don't understand what you're doing when it comes
time to pay said credit card. Because apparently Malik Beasley
needed some extra money, and he borrowed six hundred thousand
either from his agent or in advance from the Pistons,
and when it came time to pay it back, he
could not, And there'res speculation that that's the reason why
(01:30):
he opted into some gambling opportunities, thinking he could control
the outcome of those situations to make that money back
and to pay everybody and get himself out of debt.
Six million dollars. That's five hundred grand a month for
twelve months. He lives in Detroit, so there's a city tax,
there's a state tax, and there's a federal income tax,
(01:51):
and I'm sure there's benefits and escrow money that he
has to put in there for the players associationless. So
let's say he's making half every month, he's getting a
check for two hundred fifty thousand dollars. He probably doesn't
know that less than zero point one percent of the
world makes that kind of money, and he's got to
stop living like he's the king for the day. You
(02:14):
can still buy a million dollar home. Your your payment
on a million dollar home is likely going to be
what ten thousand a month, nine thousand a month somewhere
like that. Sure, maybe you get a good finances, well,
maybe you pay a little bit of cash for it,
you know, stay in apartment for a couple of months.
In one paycheck, you could almost buy a house, certainly
put a big down payment on it. To think that
(02:36):
you could spend one hundred thousand to one hundred and
fifty thousand dollars a month and still have money left
over is something that young athletes and young people in
general just don't get. And why did he ever need
an advance? What are you buying? Get yourself a trusted investor.
If you save one hundred grand a month in a
(02:59):
or one point two million a year in a some
kind of a tax shelters account of some kind, by
the time you're forty, you're gonna be worth fifteen twenty
million bucks just on simple investing stuff, just six percent
a year. We've got to figure out a way to
start in uh, in getting to players, maybe mandatory rookie
(03:21):
type in doctrinations, maybe mandatory classes that they have to
take on finance those well, but they don't.
Speaker 2 (03:28):
But they're not paying attention to them.
Speaker 1 (03:29):
Maybe they got to take a test before they get
their first paycheck. And I understand the NBA is not
in the in the business of babysitting, but they also
have to protect their brand. And when athletes walk in
a building and they see a casino in the whatever
the name of the building now is in Philadelphia, and
they and they see athletes and people calling them all
(03:50):
the time asking them who they should bet on, and
they know that they have an outcome in that there's
this not only as there's this temptation, but there's this
lack of education, this ignorance that says, well, I'm an
NBA basketball player, I can do whatever I want. And
you've heard stories before, and I know these stories are true.
You go to the car dealership for a car and I, well,
(04:11):
I like both the red one and the black one,
and the dealer jokingly says, well, why can't you buy both?
You have enough money to do it, and you do,
and then you have to go back to the Herm
Edward stuff. You only can drive one car at a time,
pay cash for your car. You don't need to have
a car payment. You're not You're using your car to
go from point to point B. You're not using it
for business, you're not writing it off. Just go pay
(04:31):
cash for the car, go pay cash for the house,
and have limited bills and save your money. You can
go to all the clubs you want and spend as
much as you want and still.
Speaker 2 (04:43):
Have money left over.
Speaker 1 (04:44):
I can't understand why a basketball player, and I know
in terms of an NBA salary, six million dollars is
not a lot, but there's got to be a better
way to educate players that when you get into the league,
it's not only about staying in the and being here
for a long time, but whether you're here a year
or you have a twenty year career, that when you leave,
(05:06):
you don't have to do something. You have options, and
it's it's there's some players that get it, but they're
they're the minority, and we're going to have more players
that are going to be tempted into gambling. We're going
to have more indiscretions along this way to where people
think the games are rigged or fixed, or the outcomes
of prop bets are rigged or fixed, because players are
(05:26):
going to be tempted to put a bet down or
have somebody do it for them. And uh, when I
read the story today that Malik kab Easiley needed an
extra six hundred thousand dollars because he was he had
to buy something, I don't what are you buying? You know,
if you're if you're an NBA player, you can get
a mortgage on any home that you want, within reason,
(05:47):
and even with not even within reason, certainly nothing that
anybody else could afford. But I think that there's got
to be some kind of an education process. I remember
when Terry Cummings played for the Spurs and then left
and his last stop was in Oakland, and I don't
remember the player's name in Oakland that he was. Basically
(06:08):
the last two years Terry Cummings' legs were shot, but
Golden State kept him on the payroll so he could
babysit some of the younger players and teach them how
to live their lives and teach them how to invest
their money, and teach them where not to go and
where not to be and what not to spend money on.
And many of those players listened to him and would
not have been in the situation they are now had
(06:28):
they not. So Terry Cummings didn't come from a great,
a wealthy home. He grew up on the West Side
of Chicago, like a lot of great players did, with nothing.
But he certainly and I don't know what his situation
is now, but at one point he was well off
into retirement. And there's plenty of opportunities to get to
these athletes, to get to these athletes and to teach
(06:50):
them ways in which they can protect their assets without
them resorting to the temptation of gambling, which is going
to end their opportunity to ever make that money. Malik
Beasley's not thirty years old. He may not even be
twenty six years old. I am his age lately, but
Malik Beasley is likely if these if this evidence is accurate,
(07:10):
it's never going to play an organized basketball game.
Speaker 2 (07:13):
For the rest of his life.
Speaker 1 (07:14):
Over five hundred thousand dollars that could have easily been
avoided if he'd have had some semblance of a financial plan.
And you know, I go back several years ago when
San Antonio's and Dallas Cowboys Sam Hurd got a pop
for dealing drugs to an undercover FBI agent.
Speaker 2 (07:34):
I think it was coke, right, Yeah, he.
Speaker 1 (07:36):
Was running drugs for one of the cartels, and basically
he said, I was making eight hundred grand a year
and living like I was making eight hundred grand a week,
and then I wanted to keep up with Troy and
Emmett and all the guys or whoever was on the
team at the time. I wanted to be them because
they were getting all And you can live a great
life on six million, but it's not like you're making
(07:59):
sixty million. You're not living like shay Gil just Alexander
is when he's going to make a million a game
here in a few years, six millions a lot, but
it's not what the other guys are making. And you're
a role player, and you have to understand that you've
got a great opportunity. One of the best NBA stories
ever and he passed away earlier this year, and that's
(08:19):
Junior Bridgeman, who was part of the Milwaukee Bucks trade
in the seventies for Kareem Abdul Jabbar and Junior Bridgeman
never in his NBA career made more than four hundred
grand a year, and he retired and went into fast
food business and owned a lot of taco bells and
Kentucky Fried chickens and a lot of the PepsiCo brand stuff,
and at the time of his passing, he was worth
(08:42):
almost a billion dollars. You can do this, It's not hard.
You just have to want to and you have to care.
And I think the NBA is going to have and
other sports leagues are going to have to step up
and go, Okay, we've got to police ourselves from the
temptation of gambling by making sure that these athletes understand
how to take care of their finances.
Speaker 3 (09:01):
They're they're grown, they're grown men.
Speaker 2 (09:03):
Andy, They're not.
Speaker 1 (09:04):
They may be the grown men on the on paper,
but they're there. Certainly have they have never been educated
at the level that that most twenty eight year.
Speaker 3 (09:12):
Olds would know. You can't babysit them forever. I get that,
you know, hey, in this new realm of gambling everywhere,
but you can't babysit everybody. And a player of at
least Malik Besy Beasley's stature, I could say I could
at least thought that I'm condoning it, but I would
(09:33):
expect it more along the lines of believable, like a
Johntay Porter, a guy who's third Spring elite. Beasley has
made this year just under sixty million dollars in his
career in the NBN.
Speaker 1 (09:46):
But here, here's don't get You don't have to babysit
them when you're twenty eight, But he needed to be
babysit when he was nineteen, when he first came into
the league, when he was first in college where he
first started getting to be an NBA material Because they
may say it may be on paper that they're twenty one,
but they've never taken a class on it. We certainly
don't teach that in public schools. We got to pass
a star test more important than learning how to do finances.
(10:09):
So we got to get to a point to where
we educate these people. And basically the NBA, I think,
needs to sit down and go. You can't pass a
test on finances, you can't sign a contract.
Speaker 2 (10:19):
Yeah, And we got to get because here's what's going
to happen.
Speaker 1 (10:23):
When is somebody going to throw an NBA playoff game
and the league is gonna go to go and they're
gonna go, why'd you do it?
Speaker 2 (10:28):
Well?
Speaker 1 (10:28):
I needed five million dollars because I was in debt
and it could have been stopped if somebody would have
intervened with that person. I know it's not likely to happen,
and I don't like the idea of babysitting adults, but
adults that are young adults are going.
Speaker 2 (10:41):
To make stupid mistakes.
Speaker 1 (10:42):
They're going to put a stain on the league because
all this gambling stuff is out there and guys like
Malik Beasley are going to be tempted to do it.
He hasn't proven that he's done it yet, but the
evidence is pretty overwhelming that he was involved somehow, or
the league wouldn't be telling the Pistons to hold off
on his contract extension.
Speaker 3 (10:57):
I don't know if we'll if we'll ever get to
that particular, sir, circumstance, but I definitely think what we
are going to get more stories along the lines of
the prop bets kind of a thing. You know, in
a fifteen point game, you know, he gets told or
he knows Hey, my prop for the for today is
(11:18):
five rebounds. If I get under five, I'm gonna get this,
or you know.
Speaker 1 (11:23):
And the rebound comes right to him and he somehow
misses the rebounds.
Speaker 3 (11:26):
Yeah, I can see that, But I don't know if
we would get to the scenario of actually throwing games,
because that's when again that that's.
Speaker 2 (11:34):
When we get the lines. You get desperate enough, you'll
do something.
Speaker 3 (11:37):
Maybe, But that's when we get more along the lines
of the red flags get up even higher to where, hey,
if you're throwing ten thousand dollars on a Duke versus
North Carolina game, that's that's.
Speaker 1 (11:47):
But if you're throwing if you're throwing ten million dollars
on a Detroit New York playoff game, that's problem. Yes,
And it could be avoided if you educated him on
how to take care of his money in the first place.
Speaker 3 (11:58):
I don't know with that.
Speaker 2 (12:00):
I don't know if I agree with that.
Speaker 1 (12:02):
I mean, the NFL has the Rookie Symposium. I think
the NBA is something similar, but it needs to get
deeper because we're having too many players get tempted by
the lure of gambling. All right, by US discussion and
WNBA All Star voting coming up, it's the Andy Everette
Show on the ticket
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