Why NFL Players Go BROKE
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- čas přidán 14. 08. 2023
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Johnny Manziel was featured in the Netflix documentary Untold in an episode titled "Johnny Football". He spent a lot of money and didn't make it to a second contract. Also featured: Phil Mickelson, Ja Morant, Eddy Curry, and the UFC.
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do u thjnk making goofy faces in every thumbnail makes it looks more professional
The manziel's have oil money. Manziel grew very wealthy very spoiled
Yeah there’s a lot of that in Hollywood especially. Someone with a $6,000/month job spending $3,000/month leasing a Mercedes G-Wagon.
Exactly. I like that we watch a lot of the same videos. 😅
and those people arent very smart. cars are literally the worst "investment" on the planet.
It’s part of the fake guru starter pack, has to be wrapped too.
@@IVANOOZE69 It depends on where you live though. If you live in a place with great public transit, cars are a waste. If you live in the US Surburbs, you save more money and time having a car.
@@phamquanghuy8000 I didn’t say don’t use a car. But spending half your monthly income on a luxury car is just foolish.
One of the biggest problems is when athletes take all their childhood friends along for the ride, and justify it by giving them "jobs" as part of the entourage. A lot of athletes don't come from the best neighborhoods or financially savvy households, and those friends that influence them every day might be even worse at managing money than they are. I remember Andre Rison saying in one of the 30 for 30 films on ESPN, "at one point, I was paying cell phone bills for 40 people". Andre made over 20 million in his career. He is now worth 250k.
I remember that moment for how real it felt. He probably was paying more than just the phone bill too
Ja Morant is the perfect example of someone disconnected from reality and undeserving of the opportunities that came their way. The guy got caught with a gun, got a slap on the wrist then did it again. Imagine having a 200 Million $$ contract setting up your entire family and multiple generations for life and you're risking it because you want to feel like a gang member on social media. Its unbelievable. Mind you this is a kid that came from the suburbs and had a very comfortable upbringing - he only started to act tough after being in the NBA
It’s really sad to see because he seems to be a good kid (or at least raised by a good father in good household) that is so influenced by the rap culture and wants to be a dude with guns.
Jesus...probably found a group of bad friends who he wants to seem cool with
Ja lost about $40M from the first suspension. He had a clause in his contract that if he had made the all-nba teams in the 22-23 year his contract would go from $192M to $231M. He missed the all-NBA team, likely because of his off-court actions, causing him to not get the extra $39M.
I'm from South Carolina. Ja Morant comes from a very poor county called Sumter County, and it is infested with gang culture. Ja Morants friend went live the second time and Guns are not illegal. He is already rich and has generation wealth.
Trying to figure out why a millionaire can’t have a gun? Clearly he needs to protect himself more than your broke ass would
A lot of people say they wouldn't go broke with that income, but then a lot of people on very small salaries pay their bills then blow the rest on the weekends going out.
Preach
most people would be well-off, if they have some discipline. Some "poor" folks have good salaries.
Now thats the Spencer we like! Fast paced, entertaining and informative
It's easy. I remember when I was making 1k per day doing dropshipping. I was 24 yours old, and after 6 months, I thought I had so much money that it would be hard to spend it. I got cocky, I stopped working on my store, and I took a 1-year long vacation. It took me over a year with my spending habits to waste everything. I was broke and started working at the construction site. That was a huge lesson in my life. And with athletes and more significant sums, it's obvious how it will end.
How much did you make total, and how long ago was this?
Same!!!
I'm glad that you learned from your mistakes. And I'm glad a read your comment so I don't make a similar one
I read that as 1k per month, I was like yeah of course you can blow through 6 grand in a year 🤣
@@TomikaKelly30k a month for 6 months
Johnny football lived like a rockstar. I'm surprised he even made it that far without crashing and burning sooner.
Manziel is oil money hey was fine from birth
@@mbpiithat was actually a lie Manziel made up to try to convince the NCAA that he wasn’t getting paid for autographs
You can tell from that documentary the disappointment from his dad who raised him with discipline and humility
I am both jealous of the money these people made...and call them dum-azz at the same time. Manziel is probably taking the #1 spot.
$1000000 in gaudy jewelry; $2000000 to multiple baby mamas; 20+ cars; money to the “homies”; clowns
Dana White is the Don King of MMA.
I remember reading how Dana White and the two guys who originally acquired UFC from the Gracie family each became billionaires. Then you see some of the biggest named fighters that helped make them rich like Chuck Liddell only worth $12M. But Floyd Mayweather Jr who was smart to take control of his promotion and endorsements is worth $450 million. There will never be a shortage of knuckleheads and losers willing to bash their brains in to make some other guys rich.
I grew up in College Station and can say he was always a prick while there in college. He always acted like everybody should give him everything and deserved it all. I said ti then and still say it. He was a mid tier college QB saved by a solid team and WR's like Mike Evans making him look better then he actually was when it came to doing anything other then running around.
Nah u can’t deny his winning mentality in college and he was elusive af with his feet. And of course he’s going to be cocky when the whole world wants a piece of him. We were all in college once, and I can’t imagine what I would’ve done if I had all that fame basically overnight. I think if NIL existed when he was in school, he would’ve been able to make enough money to be set for life even without playing in the NFL. Could he have done better? Of course. But that’s easier said than done
@@SAsh-zg6ln so I am a bit older then him but partied in college station a good amount and know a bunch of people there still. I heard stories from him getting mad at taxi drivers because they would not give him a free ride when him and his friends were drunk because he would try to use the "do you not know who i am" and going up to DJ's at clubs and starting shit just because they did not play a song fast enough for him along many of things about his personality just being a stuck up person. I feel bad that he had the problems he had emotionally but he def never did himself any good and at some point you have to take responsibility for your own actions.
@@PaulSman123 true but that’s typical behavior of someone who’s been hoisted to the top and is still young and immature. This is why we have to respect young ones who even at their top are still humble. Also, you said he would act like this after drinking which makes even more sense. Not saying it’s ok for him to do that shit but the kid was getting everything he wanted so of course he felt like he can get away with it. I def agree that his attitude is what led to his demise and I think he takes responsibility now. At least that’s what the Netflix documentary shows. Hope college athletes learn from his story. That shit was fun but it lasted less than a calendar year
Mediocrity is so common and often rewarded
spence please do a series about athletes. It's just crazy to see how much money they throw away.
This is like my 10th video on this topic lol. And had a three part series on musicians
@@SpencerCornelia I know I’ve seen them all included the last one about one of the lakers. Meant like a stable series. Boxers will give you a lot to talk about too.
If big stories drop, then I make videos on it. The problem is they can get real redundant because there’s only so many ways to explain why athletes go broke haha. And I’m not that great at commentary
You can make a playlist with this series of celebrities who go broke 😂
He has
Love how you break things down Spence and your so analytical as opposed to staying. Surface level.
It’s not what you made it’s what you saved -Ric Flair
Another great, interesting video spencer!!
I would love to see a video on soccer athletes! They make significantly more than NFL and NBA players
Man I truly enjoy your content and I have learned so much from you thank you and hope you continue educating us on scammers 😊
Another banger! Love your videos
My favorite videos of yours are when you talk about sports finances and athlete money management!
As Kendrick Lamar would say, "sit down b**** be humble"
Love this series
Love these athletes go broke videos! Entertaining af!
spencer, this is amazing
Salute Spencer. U constantly improve and I see strive for excellence. "Professional Sports is the only get rich quick scheme..." I like the quote...maybe politics? Any other ones ya'll know?
On point! 🎯
Society is really messed up when it's these clowns that get filthy rich throwing a ball around (or hitting it in cases of baseball and golf).
better them than just an owner, its no different than movie stars. Fans are the ones paying these insane salaries.
Its entertainment. If serving coffee at a McDonalds was considered entertainment, they would make the same. Stop complaining about free exchange of services for money. Capitalism baby!
he can spend 100k alone on drugs and alc partying, look at Scott Storch, dude was blowing 7 figures a month on drugs
That was on yachts, jewelry, private jets for Lindsay Lohan, 5 star dining, hotels, and more
It's bizarre that somebody like KPMG doesn't offer a pro athlete package that insures against malfeasance and sets up an unseizable trust or whatever. Kid actors, musicians...
Trusts can be pierced.
@@LuxeprivaeMediaAllen Iverson found out the hard way when he mortgaged his retirement pension. If someone has assets even in an untouchable trust, someone will let you borrow against it
Amazing vid bro
I miss this segment! 💜💛💯
The ending discussion about UFC is such an elite content. You may be on to something
As always Spencer is on point 💯🤝🏾🅿️
Good to see you commenting on "JT the Pocketwacher"s podcast...
Wanna see you guys stream/collab soon.
I'd love to see that collab!
They all grow up thinking MONEY can buy them out of problems. That type of mindset creates MORE problems.
Getting back to your roots Spence! 😁
Need more of these videos Spencer
These athletes prove Brittney Renner right time and time again. Caris Lavert you had 3 options 1 Don’t have a house party, 2. Have a party at a rental property, Airbnb, or a hall. Or 3. You’re a millionaire hire armed security to watch your entire upstairs & basement. Guess can use the bathroom on the main floor or the basement. I’m pretty sure options 2 & 3 would’ve costed you a few thousand; compared to a 100k watch being stolen. Julio Jones just isn’t bright! Who wears 6 figure earrings to a lake?
If you ever research the pay disparity between athletes and performing artists (like professional dancers) its SHOCKING!!
Long time subscriber Spence. I’m also a big UFC/MMA fan. The fact that you didn’t even come close to pronouncing Jared Cannonier, the number 4 Middle weight in the organization-Not the world-who is also 39 and has been in the game since 2011 is a HUGE reason why he hasn’t made more money. As the now infamous quote from Dana White goes, “he’s not a needle mover”. But you know who is a needle mover? That was rhetorical, because I already know you know who they are. And they get paid like it. Because they bring people in. Not to mention the UFC isn’t the only game in town. Bellator and PFL are also organizations that have clout and TV deals. Are the fighters too stupid to sign with other promotions? Their contracts arnt anywhere near lead pipe locked as boxing. The ufc has been accused to exploiting fighters for years! So tons of fighters have had the opportunity to sign elsewhere or never sign. The last thing I’d like to say is that the WBC #4 middle weight Maciej Sulecki a guy you have never heard of 6 years younger than Jarrod, who HAS won a title has a net worth of 1.5 million. I would love to chat with you about this. You could use it in a video but I’m just a Scmuck.
Johnny football was living like a multi millionaire because he was born into wealth. You missed the part about his father being worth $50 as an oil executive. Maziel was driving a $200k s63 Mercedes in college... It was on of his dad's cars, in his dad's name.
U must didn't watch the doc....that was made up to justify how he had so much money in college
His father was worth $50? Gee that is really crummy for an oil executive. I have that money in pocket right now!
“Why xxxx Go Broke” are my favorite videos 😂
This ish is scary man damn!
Who else is curious about the lawsuit against spencer? 🙋🏽
Your dad
I made a video discussing it in detail with my attorney
Regarding his rent, Johnny rented a high rise apartment in a fancy building in Cleveland.
Sports are not a “get rich quick” program. Anything that is considered get rich quick starts with an idea and to consider it “get rich quick”, well you have to get rich quick, like maybe within the year of the idea. These athletes start this idea of being a professional athlete at age 7 or 8. It will take them 10-15 years to see any financial wealth. For those 10 years, you have to work your butt off and grind and dedicate everyday and forgo hanging out, going to parties, living a normal life. That’s not considered “get rich quick”. That’s the opposite of “get rich quick”
They’re multi millionaires on their first paycheck
@@SpencerCornelia true but considering how long it takes for them to get there from idea to the contract, it’s years in the making. It’s not like they woke up one day, had an idea of a way to make money quick by becoming a professional athlete, and then made it happen. That doesn’t happen. Sports are different.
I understand your point and yes technically they didn't start playing sports right before their contract.
my point was that everyone plays school until their first job. Athletes get rich overnight. In Manziel's case, his first contract guaranteed $4mm+ making him a multi millionaire the first day he began his first job.
There's not many jobs/careers that hand you multiple millions of dollars before you begin.
His era come n went so fast.
His Agent realistically more then likely took more like 10% they put up the money for training preparation for the combine pro day and the draft not to mention the hell his agent went through just to get him to the draft plus all the extra dollars they had to spend for a full PR team
Invest first is the key. If these guys invested that $50M+ they couldn’t easily and conservatively being in $200K per month in passive income without even trying. And then the original $50M principal would continue to grow via appreciation.
You could live pretty lavishly off of $200K per month..
Yep, 50mil even just in a high yield savings account would net you like 150-200k a month with zero risk
that documentary untold was amazing
Sure was
Jared “can-o-neer” love you Spence ! Your the man
I knew I was going to mispronounce it lol
Yeeeey🎉 another one
Ash Mufareh and Onpassive got sued by the SEC last Friday. Definitely time for a follow-up video on that one!!!!
Working on it now!
@@SpencerCornelia ❤Wonderful news!!!
All his parents had to do is tell him NO! Every now and then as a kid 🧐
Nah, he needs to have a word with that accountant who stole his money.
I’m not surprised at all with people stealing from their house. Especially something that’s close to 100k. When I was a kid, some schoolkid stole 100$ from my cousin at his birthday party so…
UFC fighters are 'one punch' away from CTE #4 at the position should have a career earnings of more than $7 million.
It’s hard to imagine not spending all that money
Look up Terrance wantanabe he blew 204millon in 3 years in Vegas . Like half of the revenue of the casino was coming just from him alone . That’s the worst gambling addict I’ve seen .
its crazy how easy it is to burn your way through millions. most people could live with discipline and make a few million set them up for life. but the temptations of the high lifestyle will waste your money before you know and you're left having wasted the gift you were given
Bro said Jared canonya lmaoooo
It’s so damn easy to NOT make these mistakes. It’s so frustrating when you see people handed the world and throwing it away. Idiots. Invest it and live off the interest/dividends. If I ever hit it big, nobody’s gonna know. I’d retire and tell people I got a work-from-home gig. Get a home, NOT A MANSION, in a solid neighborhood with history of appreciation in value, take a few vacations a year, and let that be the end of it.
60k a month rent! that wild
Manziel isn't broke. He has a house in Scottsdale and plays golf almost every day at some nice clubs. He got a bunch of money in endorsements too. Nike, Nissan, etc.
Unless you are his accountant, you don't know shit. Having a mortgage is the least expression of wealth imo
Makes sense...if their spending is based on percentage of their net worth, then they can go broke just as fast.
Dana gambles away all the money he should be paying to the fighters
1:28 i was confused at first, i keep forgetting contracts in the NFL aren't guaranteed
Correct. That’s why so many guys are now demanding higher guaranteed money upfront
45% for taxes… criminal
Manziel's family has oil money. I've been in their house in Paradise Valley, Az. Its easily 5+ million. I've also been in J.J. Watts. Same neighborhood. Both are unbelievable but Watt's is newer.
You were in the house? We’re you the plumber?
@Hanover-ek4jy no I worked for a company that sells lighting .
His family doesn’t have oil money😂😂, he said in the documentary that was false to cover up how he was getting money in college
His great-great-grandfather hit an oil jackpot, but it had all but dried up by the time Manziel was born. Manziel revealed in the documentary that he planted this story to cover up the fact that he made around $33,000 from signing autographs!
@@tjstakes167 you are absolutely correct!
Liv contract how many years was it
despite the money top nba players are making .. don't see any of the leagues owners in a rush to sell their teams .. so imagine the money that's being generated to pay an entire organization and still make it worth owning a team
How do you say that watch again
Bankroll Billy
The more you make, the more you spend.
Francis was making 600k per fight but he said himself that he wasn’t making enough, that’s why he left now he’s made over 10 figures with the Tyson fight as so they say, also Nate Diaz just fought jake Paul and he made more in one boxing match than his whole ufc career
Are you trolling with how you said Jared Cannonier's name lol @8:08
No, I done know how to pronounce any names in the ufc apparently lol.
Tbf I’m a casual and have never heard someone pronounce his name before
Honestly, you gave it a good shot, I could see where you were going with that @@SpencerCornelia
A fool and his money are soon parted.
it'll never not be mind-boggling to me that some people can spend 20 million plus annually.. at 20 million a year that's spending $54,000 every single day. just the equivalent of buying a tesla in cash every single day.. $383,500 a week, or the equivalent of your average American home in cash each week; $1,666,000 a month or pretty much a mansion or at least a very nice home in any US town or city every month
Very rarely have I been happy for an athlete to flameout as i have with JM. He wasnt built for the pro game.
I rooted for UT my whole life so was brutal seeing him succeed at TAMU after wanting to be a Longhorn. i'm still shocked he went first round. the maturity concerns were obvious even before the draft.
It is not how much you make, it is how much you spend! Our Federal government doesn't even know this rule!
I felt bad for Johnny. No one was looking out for him at A&M, while everyone profited off of him. If he would have gone to the Cowboys or Dolphins, I don't think he would survive those first 2 years.
Some athletes are better off going lower in the draft to reduce expectations as well. I think Johnny being asked to be the browns savior really hurt him
Spencer, Thank you for doing this, I am reminded again why we have CPA's, and Tax professionals.
Jared Cannonier is not pronounced "ca-non-ee-eh", it's "cannon-ear". Respect.
Yea lol that made me cringe. You can tell this guy doesn't watch UFC or know anything about it...if he did then he'd also know that mid-tier fighters, especially ones with boring fighting styles don't bring fans and eyes to the sport - it's all about the top guys that sell PPVs.
I’m a casual. And mispronouncing names leads to more engagement so I stopped caring. If I get it wrong - more engagement
Holy shit, Phil Mickelson! I hear gambling is the reason MJ sold the hornets. He needed to pay off some debts.
60k a month for a home is just insane I can see if I was on some price of Dubi shit making billions every year even then shit is crazy u can easily get a nice spot for 5k hell even 3k a month
Haha look up houses for rent in LA. And then look at for sale. It’s insane
top fighters (i.e. conor) in ufc are relatively more underpaid compared to the lower tier fighters
These are your best videos, the broke athletes. Have you ever done one on rockstars?
A three part series
100M in losses god damn
I searched like the dickens in my subs for this guy, I love his content but couldn’t remember his name. I knew I was subbed to him long ago. Every time I try to find him he’s not there, I had to type “ crypto scams exposed “ in search to find and he was way down on the hits. Ok, rant over, I can breath now.
NIL deals is only going to contribute to the downfall of more 'student'-athletes.
Yeah, crying crocodile tears for these guys.
What watch does Carius have? 😂
A Peugeot 😂
JM comes from a wealthy family and really had no sense of working for money etc. He had a great college football for a couple of years..IMO when you have to put in real work and other players are relying on you for success because you are the QB, he just couldn't get it. Reality set in and you see the results. Even if he failed, his family will help him pick up the pieces. Cleveland Browns just keep drafting players they know they can play for cheap, sell jerseys and seats and be profitable. Stay safe.
Ja morant?
I’m currently 22 about to turn 23 In a month I make 100k a year and I can confirm that it’s very easy to spend that kind of money even though I consider my self financially responsible I to sometime live paycheck to paycheck mainly cuz I yolo my life savings starting my 3rth business and go to cocky 😂 only reason I’m living paycheck to paycheck is becuz I throwing everything at my debt but I learn my lesson to not rush
Greetings, Happy birthday and congratulations. The only debt that is bad is debt that doesn't pay you. Keep working on yourself and study Financial and legal literacy it will take you farther than anything. Get you a team and go to work. N3ver assume and get in writing. Best of luck to you young man🤘🏿
Some people might hate that title. I don't want my favorite athlete to go broke.
If UFC fighter want to make more money, why don't they do something else?
They can leave whenever they want, nobody is forcing them to fight for money.
This is like accepting a job and it's pay, then immediately going on strike because the pay is too low.
A monopoly means a company is practicing in anti-competitive behavior, like buying up all competition or creating contracts with all possible broadcasters. is the UFC doing that?
Being rich means having money, not spending money...
He parks his car in his bedroom??🤔🙄😂🤣🤷🏻♂️🤦🏻♂️
Only watch or car enthusiasts will understand your underrated comment!
@@tbprofile1295 🙌🙏
Drake has a HYUGE gambling problem as well.
I bust my ass every week working overtime just to pay my bills and provide for my family. These guys have no idea how fortunate they are.
Wym how
Johnny Football... we HATED him. Some deserve their fall. -Browns fan
If you buy a watch that costs 100K, you deserve to lose it.