Sports Illustrated - 60% of NBA players broke within 5 years
Most of us do not have much sympathy for athletes that get paid millions and turn out to be broke few years after they retire. But after reading this article, you might.
According to SI, “within five years of retirement, an estimated 60% of former NBA players are broke”.
It makes you wonder is there an ongoing systemic risk? Should the professional leagues intervene?
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Bracketology: Louisville, Pittsburgh, North Carolina, Connecticut earn top seeds
The Big East has the top three seeds for this years NCAA Tournament.
The tournament starts Thursday and Friday, with the opening-round game played Tuesday between Alabama State and Morehead State.
Davidson has been left out of this years NCAA Tournament. The nation’s top scorer, Stephen Curry, will play in NIT.
Upset Watch: Utah State & VCU
Print your bracket: Yahoo! Sports, CBS Sports, ESPN
Financial Troubles for the NBA: Kings and Pacers on the Move?
According to the Boston Globe, Sacramento Kings may end up moving to Anaheim. They are currently in playing Arco Arena labeled NBA’s worst stadium by Sacramento Bee. It opened in 1988 for about $40 million. Last Friday, Joe Maloof met with Sacramento Mayor Kevin Johnson to talk about the team’s future and possibility of a new arena.
Maloof seemed pretty confident, saying “we’re going to get something done”.
But this seems highly unlikely; NBA officials released an ambitious $1.9 billion development plan for Cal Expo which would include a new arena for the Kings. They believe the new arena would cost upwards of $600 million. This seems like a great idea, lets finance a new stadium with tax payer money, while cutting city services.
Meanwhile, it is estimated that Pacers will lose $30 million this season and have lost money every year except two during the last 28 years.
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Terrell Owens Signs with Bills and Rosenhaus Gets Him More Money
Just after days of getting released from the Cowboys, the Buffalo bills signed Terrell Owens to a $6.5 million, one-year deal Saturday. The deal included a $4 million signing bonus.
Terrell Owens said “I’m leaving America’s team (for) North America’s team”.
TO leaves Dallas, one of the biggest football media markets in the league, for one of the smallest and starting to make big news for the Buffalo Bills.
Owens made nearly $14 million last year and was scheduled to make $5.7 million in base and a roster bonus with the Cowboys. Rosenhaus got him $800,000 increase for this year.
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Stats Acquire PA SportsTicker
Stats LLC has acquired PA SportsTicker, a sports news agency that offers real-time sports news. SportsTicker formally owned by ESPN, has many clients such as ESPN.com, Yahoo.com, and Foxsports.com.
The deal gives Stats a monopoly over the sports information statistic business. The company will be half owned by AP and Murdoch’s News Corp.
