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Looks like we have some financially challenged tools on our team.

unicar15

By unicar15,
in Carolina Panthers

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unicar15 Experienced

unicar15

Posted
Posted

Barely into the second month of the lockout, there's already been some disturbing news on the financial front for players. Players from at least 16 teams have at least shown interest in taking out short-term loans with high interest rates and fees, according to a report from ThePostGame.com. The report cited a source that indicated the interest rates range from 18 to 24 percent, and could rise to as high as 36 percent on default. "I know at least 16 different teams that have had players go out and have to set these [high-risk loans] up," said a financial adviser in the report. "Guys on the Dolphins, Saints, 49ers, Panthers, Chargers, Bears, Vikings."

Read more: http://www.fannation.com/truth_and_rumors/view/278752-report-locked-out-players-already-seeking-loans?eref=sihp#ixzz1Jo1Dsl7L

Taking out loans that charge 24% interest?? Are you kidding me?

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Panthro Collaborator

Panthro

Posted
Posted

Hey man, Bling, Hoes, and Rims are NOT cheap!:wink5:

Those %'s sound right in line with a lot of the credit card rates today. If I was in their position I would probably explore a line of credit as well. Not everyone that makes $$$ also has decent credit. But just for poos and giggles let's throw some idiotic stereotypes out there...

Oh wait this is ok, right

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DevilCat Newbie

DevilCat

Posted
Posted

Ok. So I take it you graduated from an institution like Dartmouth MIT or Duke?

No...But I did pay four years tuition at one of the above. My point is: most young players are not used to having that kind of money, and very few of them are responsible with it. BTW.....some folks lose sight (basketball aside) that Duke University is known as "The Harvard of the South", and yes, has a pretty tough Biology department. I would say that it's a bit harder, then say "Parks and Recreation" from Coastal Carolina.

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Mother Grabber Grand Master

Mother Grabber

Posted
Posted

No...But I did pay four years tuition at one of the above. My point is: most young players are not used to having that kind of money, and very few of them are responsible with it. BTW.....some folks loose sight (basketball aside) that Duke University is known as "The Harvard of the South", and yes, has a pretty tough Biology department. I would say that it's a bit harder, then say "Parks and Recreation" from Coastal Carolina.

Do they know how to spell 'lose' at Dook? :) Just fugging with you.

Having gone to a school that is in the same athletic conference at MIT, I have a lot more respect for them than I do Harvard. Harvard is all about the rep.

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