Football Contract money vs legacy - Page 5

Lprechaun · 07-03-2019, 01:03 PM

Since we do now have Mahomes, he will retire as a Chief, and with the upcoming contract for him (ungodly numbers) I got thinking about what he has shown so far and wondered if it could turn into a club friendly contract to ensure the ability to get more talent around him.
Its really a money issue, what is enough and what is in the end just simply not needed. His agent doesnt jump at money, he is quirky but smart. He told Mahomes the money would show up and he needed to concentrate on the game.
PM2 didnt come from a poor family living in squalor, I think legacy might mean more to him than a bigger NFL contract.
As this team turns the page from the Pats as the team where players want to go we will have no shortage of team friendly contracts of players wanting a championship.
OR is money that important and we just hope we can draft well enough to put a team around him?
(He deserves every cent, I see him not taking it like others have just to have it.)

Lurker · 07-04-2019, 10:55 AM

70% of Rich Families Lose Their Wealth by the Second Generation
http://money.com/money/3925308/rich-...s-lose-wealth/
Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

1 in 6 NFL players go bankrupt
https://www.cbsnews.com/news/1-in-6-...s-go-bankrupt/
Taken in total, almost 16 percent of the players studied declared bankruptcy during the first twelve years of retirement. The bankruptcies did not correlate with the amount of money made over a career or the length of time in the league.

One more data point, some lottery winners are killed by their own friends and relatives over the money. Many of them lose most of their relationships due to the expectations of people around them. Many of them are also declaring bankruptcy within 5 years.

IOW, getting $400 million instead of $200 million won't really accomplish what many of you seem to think it will (securing your family for generations). $200 million plus education about how to handle money will help more the $400 million without.

At some point, being smart about how you handle money is more important than the actual quantity. You have little control over how your children and grandchildren handle money. You have virtually no control over the great-grandchildren and beyond. If your children and grand-children grow up with that kind of money, will their friends and mates truly be their friends or just hangers-on? You have no control over your descendants' quality of life. I would argue leaving them a buttload of money is as likely to set them up for failure or unhappiness as not.

I don't really care what Mahomes does contractually. Thinking getting $40 mil per year instead of $35 mil per year will make a difference to his descendants is delusional. He seems to be better at looking for long-term payoffs instead of short-sighted money grabs than most. His people seem to be good at taking care of his interests and the Chiefs will take care of theirs so I'm not worried about it.

ThaVirus · 07-04-2019, 11:47 AM

LOL People are really delusional.

Assuming the best as far as you're concerned, what would three or four Super Bowl rings do for him that one or two wouldn't?

And imagine he takes a discount and we don't win any more 'ships. He'd look like a real schlub.

ghak99 · 07-04-2019, 12:16 PM

Quote:

Originally Posted by God of Thunder

You must be dense......the money isn't just for you. It's ensuring that your kids never have to work. Their kids never have to work - and future generations are taken care of even after you're in the dirt.

The last thing I'd want to leave behind is a line of ancestors who never have to work.

Idle hands and all.

PAChiefsGuy · 07-04-2019, 12:26 PM

I hope he has learned from Brady and takes that route. Brady really deserves a lot of credit for taking less money and it is one of the reasons he has won so many SBs...

The greed of some of you posters here amazes me. Wtf does it matter if someone is worth an extra $100 million if they are already worth $400 million? Can't take the money with you when you die...

-King- · 07-04-2019, 12:33 PM

Quote:

Originally Posted by PAChiefsGuy

I hope he has learned from Brady and takes that route. Brady really deserves a lot of credit for taking less money and it is one of the reasons he has won so many SBs...

The greed of some of you posters here amazes me. Wtf does it matter if someone is worth an extra $100 million if they are already worth $400 million? Can't take the money with you when you die...

How hard is it understand Brady is the really the only one in a position to do that since he's married to a woman who makes even more than him? It's only been pointed out at least 5 times in this thread.

And you can't take money with you when you die but you can sure as hell give it to your kids or to charity or do a lot to help people out with it. I think you can help more people with an extra 100 million than you can with an extra Superbowl ring or 2.

PAChiefsGuy · 07-04-2019, 12:58 PM

Quote:

Originally Posted by -King-

How hard is it understand Brady is the really the only one in a position to do that since he's married to a woman who makes even more than him? It's only been pointed out at least 5 times in this thread.

And you can't take money with you when you die but you can sure as hell give it to your kids or to charity or do a lot to help people out with it. I think you can help more people with an extra 100 million than you can with an extra Superbowl ring or 2.

Do some research Brady took less money than he could have before he started dating Giselle.

Its a sign of good leadership to take less money than you can because you realistically don't need it so your teammates can make more. It can also help our GM get Mahomes more help.

Im not going to hold it against him if he doesnt take less money but ideally I think it'd be great to see the elite QBs on any team do this.

Chiefshrink · 07-04-2019, 01:02 PM

Quote:

Originally Posted by God of Thunder

It's ensuring that your kids never have to work. Their kids never have to work - and future generations are taken care of even after you're in the dirt.

Not trying to poke at you personally here and I get your point but why would anyone want this ?? A sure disastrous recipe for creating a very soft family(Look at the Kennedys or any dynasty wealthy family for example-majority are train wrecks) and produces a very soft society(Look at the underbelly of our country-nobody wants to work).

Depends on how you define 'never having to work'. Being the richest nation on earth, look at how soft our underbelly is as a society now with decades not working or underachieving because of our immense wealth along with technology advancement to enable this to happen. Generally speaking here, what I see are those that are 35yrs old and younger are just plain soft and they complain the most.

Wealth should never dictate how hard you should or should not work, PERIOD There are severe consequences all the way around IF you do.

Here below is a great Christian philosopher/apologist(Ravi Zacharias) in a very short excerpt explaining why 'infinite unbridled pleasure' leads to a 'meaningless life'. If you like this and want a more in-depth answer to this concept then I have included the following video as well. Enjoy!

In-depth answer. Talk starts at the 3:45 mark.

-King- · 07-04-2019, 01:03 PM

Quote:

Originally Posted by PAChiefsGuy

Do some research Brady took less money than he could have before he started dating Giselle.

Its a sign of good leadership to take less money than you can because you realistically don't need it so your teammates can make more. It can also help our GM get Mahomes more help.

Im not going to hold it against him if he doesnt take less money but ideally I think it'd be great to see the elite QBs on any team do this.

He was top 5 in money earned from 2004 and 2009 when he married Giselle. Only after they got married did he start accepting truly below market value deals

Chiefshrink · 07-04-2019, 01:07 PM

Quote:

Originally Posted by PAChiefsGuy

I hope he has learned from Brady and takes that route. Brady really deserves a lot of credit for taking less money and it is one of the reasons he has won so many SBs...

The greed of some of you posters here amazes me. Wtf does it matter if someone is worth an extra $100 million if they are already worth $400 million? Can't take the money with you when you die...

Quote:

Originally Posted by PAChiefsGuy

Do some research Brady took less money than he could have before he started dating Giselle.

Its a sign of good leadership to take less money than you can because you realistically don't need it so your teammates can make more. It can also help our GM get Mahomes more help.

Exactly !!

Chiefshrink · 07-04-2019, 01:09 PM

Quote:

Originally Posted by -King-

He was top 5 in money earned from 2004 and 2009 when he married Giselle. Only after they got married did he start accepting truly below market value deals

Stop your nonsense here. There is a reason Brady has won 6 out of 8 SBs. He is COMPETITIVE and will exhaust all options to win. Giselle has nothing to do with his restructuring plain and simple.

**BossChief** · 07-04-2019, 01:31 PM

Quote:

Originally Posted by -King-

He was top 5 in money earned from 2004 and 2009 when he married Giselle. Only after they got married did he start accepting truly below market value deals

Top five money for a hall of fame super bowl winning quarterback IS TAKING A DISCOUNT.

-King- · 07-04-2019, 01:42 PM

Quote:

Originally Posted by BossChief

Top five money for a hall of fame super bowl winning quarterback IS TAKING A DISCOUNT.

Other than the first year, most years Mahomes will be top 5 based on other players signing contracts and based on how money is spread out. It's not like he's going to be #1 every year. Most years the top 5 was some kind of combination of Favre, Manning, Vick, Palmer and Brady. That makes sense

Abba-Dabba · 07-04-2019, 01:48 PM

Quote:

Originally Posted by Chiefshrink

Stop your nonsense here. There is a reason Brady has won 6 out of 8 SBs. He is COMPETITIVE and will exhaust all options to win. Giselle has nothing to do with his restructuring plain and simple.

Stop with the fantasy land bullshit. If you really think Brady giving up a few million a year is even the smallest factor of them winning a few championships you are just dumb. D.U.M.B. Dumb. That goes for anyone thinking that dumb shit.

You're talking about a profession where in most cases you only have one chance for a large pay day. Players have to try to maximize every contract they can get because nobody knows if they will ever see one again.

This rah rah fantasy land doing it for the team is nothing but a bullshit child's fantasy that simply does not have a grasp in reality.

Abba-Dabba · 07-04-2019, 01:53 PM

Quote:

Originally Posted by Lprechaun

It's not like he either makes 400 million or 8 bucks an hour lol his family will be just fine.

His agent will be sure to squeeze every dollar out of the Chiefs that he can. He would be dumb not to. Imagine trying to sell yourself as an agent to a future draft pick as an agent that has a reputation of not representing the complete financial interests of their client.

**jjchieffan** · 07-04-2019, 02:04 PM

Quote:

Originally Posted by ThaVirus

LOL People are really delusional.

Assuming the best as far as you're concerned, what would three or four Super Bowl rings do for him that one or two wouldn't?

And imagine he takes a discount and we don't win any more 'ships. He'd look like a real schlub.

Mahomes wants to be the GOAT. One or 2 rings won't cement that for him. If he doesn't win as many Superbowls as Brady, or even as many as Montana, people will always rank them higher. Taking a contract that helps the team build around them will help accomplish that

07-03-2019, 01:03 PM
Lprechaun Veteran Join Date: Oct 2012 Casino cash: $5096268	Contract money vs legacy Since we do now have Mahomes, he will retire as a Chief, and with the upcoming contract for him (ungodly numbers) I got thinking about what he has shown so far and wondered if it could turn into a club friendly contract to ensure the ability to get more talent around him. Its really a money issue, what is enough and what is in the end just simply not needed. His agent doesnt jump at money, he is quirky but smart. He told Mahomes the money would show up and he needed to concentrate on the game. PM2 didnt come from a poor family living in squalor, I think legacy might mean more to him than a bigger NFL contract. As this team turns the page from the Pats as the team where players want to go we will have no shortage of team friendly contracts of players wanting a championship. OR is money that important and we just hope we can draft well enough to put a team around him? (He deserves every cent, I see him not taking it like others have just to have it.)
Posts: 1,515

07-04-2019, 10:55 AM	#61
Lurker Starter Join Date: Sep 2000 Location: KC Metro Casino cash: $10004900	70% of Rich Families Lose Their Wealth by the Second Generation http://money.com/money/3925308/rich-...s-lose-wealth/ Indeed, 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy. 1 in 6 NFL players go bankrupt https://www.cbsnews.com/news/1-in-6-...s-go-bankrupt/ Taken in total, almost 16 percent of the players studied declared bankruptcy during the first twelve years of retirement. The bankruptcies did not correlate with the amount of money made over a career or the length of time in the league. One more data point, some lottery winners are killed by their own friends and relatives over the money. Many of them lose most of their relationships due to the expectations of people around them. Many of them are also declaring bankruptcy within 5 years. IOW, getting $400 million instead of $200 million won't really accomplish what many of you seem to think it will (securing your family for generations). $200 million plus education about how to handle money will help more the $400 million without. At some point, being smart about how you handle money is more important than the actual quantity. You have little control over how your children and grandchildren handle money. You have virtually no control over the great-grandchildren and beyond. If your children and grand-children grow up with that kind of money, will their friends and mates truly be their friends or just hangers-on? You have no control over your descendants' quality of life. I would argue leaving them a buttload of money is as likely to set them up for failure or unhappiness as not. I don't really care what Mahomes does contractually. Thinking getting $40 mil per year instead of $35 mil per year will make a difference to his descendants is delusional. He seems to be better at looking for long-term payoffs instead of short-sighted money grabs than most. His people seem to be good at taking care of his interests and the Chiefs will take care of theirs so I'm not worried about it.
Posts: 99	1 0

07-04-2019, 11:47 AM	#62
ThaVirus You gotta kill a few people Join Date: Sep 2007 Casino cash: $1532369	LOL People are really delusional. Assuming the best as far as you're concerned, what would three or four Super Bowl rings do for him that one or two wouldn't? And imagine he takes a discount and we don't win any more 'ships. He'd look like a real schlub.
Posts: 44,692

07-04-2019, 12:26 PM	#64
PAChiefsGuy Best Body On ChiefsPlanet Join Date: Jan 2014 Casino cash: $2424900	I hope he has learned from Brady and takes that route. Brady really deserves a lot of credit for taking less money and it is one of the reasons he has won so many SBs... The greed of some of you posters here amazes me. Wtf does it matter if someone is worth an extra $100 million if they are already worth $400 million? Can't take the money with you when you die...
Posts: 5,942