Clinton Portis owes his mom $500k, $5 million in total debt

FredG

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That's a very narrow sighted view, there are plenty of people who come from lower class and live frugal after making it. People who have a show off personality will always wind up broke.

True. To be honest, I'm the type of person that likes nice things...but I also know when I need to stop spending money. The issue is knowing when to stop, you don't have to be a millionaire driving around in a Toyota Corolla...but you have to understand that buying a Ferrari every year is not wise. Also, don't trust other people with your money...even if they don't seem like the type of person to take advantage of you, money tempts even the most humble person.
 

L. Deezy

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aand another one bites the dust:martin:

Clinton Portis owes his mom $500k, $5 million in total debt

Clinton Portis filed for Chapter 11 bankruptcy in November. And the filings,published by Deadspin, reveal that the former NFL running back owes a lot of money to a lot of people ... including his mom.

Portis's debt to creditors, in total, adds up to $4,857,659.50 — a number equivalent to more than 11 percent of Portis's total earnings in a nine-year NFL career according to Spotrac data. But it's the breakdown of that debt that makes this story a bit bizarre.

MORE: Athletes who went bankrupt | NFL's most infamous moments

The filing from Portis has predictable creditors; his debts include unpaid phone bills, a repossessed BMW, Atlantic City casino losses and back taxes. But Portis also owes money to several women in his life, for reasons seemingly unknown.

For example, Portis owes $500,000 to his own mother, and the same amount to Nischelle Turner — a correspondent for Entertainment Tonight and CNN. Portis also owes money to four separate women — "unpaid domestic support" that sums more than $400,000.:beli:


The debt looks overwhelming in comparison to Portis's current income. According to the filings, he makes $3,500 monthly from NFL disability payments, as well as $1,000 for his sideline reporting gigs.

A report from the Gainesville Sun in November might, in part, explain Portis's owed mother money. According to the Sun, the bankruptcy filing stopped foreclosure proceedings for a house in Florida. A house Portis had built for his mother. The 7,000-square-foot home faced foreclosure because of an unpaid loan of $920,000.

Sun sources say Portis has been "a victim of swindlers." He also lost money in a failed casino venture in Alabama.:dahell:

MORE: The best rushing seasons in history

Once a star at the University of Miami, Portis rushed for 9,923 yards in the NFL, most notably for Washington. He led the league in yards per attempt as a Bronco in 2003, the second of two consecutive seasons of 1500-plus yards to jumpstart his career.

Portis, the 2002 Rookie of the Year, ranks 30th all time in rushing yards. No runner has ever retired closer to the 10,000-yard club.


Goood lord.. he made a rack of money too

Sad..
 
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☑︎#VoteDemocrat

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If you make 40 million, why not put it all in secure mutual fund betting on a broad index.
Too many people think that it's easy to do business, bet all you have on one venture :mjlol:
First rule of investing is diversification, and if not hedge your bets.
these dudes get fleeced by dumb athlete investment shyt though...like "special gear" or "new training equipment" or outright idiotic "social media" platforms like that bullshyt Lebron invested in.

They just lack real knowledge of legitimate business ventures.

Dudes investing in clothing lines and shyt without knowing their lanes...or knowing ANYTHING.

They forget that money is hard to make and good ideas are hard to come by.
 

☑︎#VoteDemocrat

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People don't understand how quick the money goes...with taxes...lifestyle...taking care of others...

Also a lot of guys careers end before they think the league is done with them/money runs out..

So they're spending money as if they are counting on new money.
if you pay attention to the news, within a year to 18 months after they finish in any league they're in, you'll see they sell their houses...they realize they can't afford ANY of that shyt
 

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The problem is that their careers are short and they earn less as the get older (normally unless they are mega stars such as a kobe) In real life most Americans spend just as silly as athletes. But regular folks normally earn more money as they get older and more exp and their careers last longer. I regular folks careers can last 40 years or more which is plenty of time to correct bad spending habits yet most Americans still spend their money un-wisely. An athletes career may last 15 to 20 years if they are lucky and at the worst a season or preseason if they get hurt or aren't that good.
Yup...most people LIVING life around their 30s...but these dudes are barely skilled humans out of the league by the time they're 30-35 and have a lifetime to figure the rest out. They're YOUNG men.

Kobe is 37...do people realize how young that is? He has to stretch all that money forEVER :wow:
 
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