Cash-Strapped NFL Players Seeking High-Risk "Lockout Loans"

[rancher]

As the NFL lockout enters its second month, players from at least 16 teams have already sought out extremely aggressive short-term loans with high interest rates, ThePostGame.com has learned.

According to a financing source, these interest rates range from 18 percent to 24 percent, and upon default, they can rise as high as 36 percent.

Typical feetsball player wanting the bling and not heeding the huey and cry of SAVE,SAVE and SAVE.

Attached is link

http://www.thepostgame.com/features/201104/tpg-exclusive-cash-strapped-nfl-players-seeking-high-risk-lockout-loans

[rancher]

Here is another story from today about Pro Feetsball Player and his money problems.

Lockout concerns lead Jets player to move back in with his parents. Jetts guard Matt Slauson, a 2009 sixth-round pick who started all 16 games for the Jets in 2010, has made several hundred thousand dollars in his two-year career. So he’s not exactly George Costanza moving back in with Frank and Estelle because he’s got $714 left in the bank.


http://profootballtalk.nbcsports.com/2011/03/07/lockout-concerns-lead-jets-player-to-move-back-in-with-his-parents/

[rancher]

One more story of CASH STRAPPED PLAYERS in Philadelphia.

http://msn.foxsports.com/nfl/story/Philadelphia-Eagles-Brandon-Graham-teammates-ask-for-cash-100000-022811

[bigwood33]

The interesting thing is these guys don't get paid this time of year anyway. They only draw 16 checks a year...unless they have some kind of roster bonus. They draw checks on game weeks during the regular season, 16 of them and of course, if they make the playoffs, they get paid then too. The irony of anyone getting loans now is they would be in the same boat even without the lockout.

[Emerson1]

I think I feel worse for tens of thousands of stadium workers who are out of a job.

[Blastoderm55]

Originally posted by Emerson1
I think I feel worse for tens of thousands of stadium workers who are out of a job.

:iagree:

[bigwood33]

Originally posted by Emerson1
I think I feel worse for tens of thousands of stadium workers who are out of a job.
They are not affected yet either but sales people, office staff, and some front office personnel are affected. The only way that the players and stadium staff will be affected is if the season actually is delayed. The front office staffs and other regular personnel that have been furloughed are actually feeling the pinch now.

[Farmersfan]

Do you not suppose this could be a PR ploy by the Players Association? If they can get a bunch of players to do this it might serve to show everyone exactly how the poor players are suffering from the big bad establishments lock out.

[bigwood33]

Originally posted by Farmersfan
Do you not suppose this could be a PR ploy by the Players Association? If they can get a bunch of players to do this it might serve to show everyone exactly how the poor players are suffering from the big bad establishments lock out. :thinking: :thinking: Could be.

[Ernest T Bass]

Originally posted by Farmersfan
Do you not suppose this could be a PR ploy by the Players Association? If they can get a bunch of players to do this it might serve to show everyone exactly how the poor players are suffering from the big bad establishments lock out.

If Americans are stupid enough to buy that, we are truly doomed as a nation.

[Farmersfan]

Originally posted by Ernest T Bass
If Americans are stupid enough to buy that, we are truly doomed as a nation.





We now sit with Barrack Obama as the winner of the last Presidential election and you act surprised that Americans are stupid enough to buy a nonsense story. REALLY? :( :o

[RoyceTTU]

Originally posted by Farmersfan
We now sit with Barrack Obama as the winner of the last Presidential election and you act surprised that Americans are stupid enough to buy a nonsense story. REALLY? :( :o

LOL

[slingshot]

Originally posted by Farmersfan
We now sit with Barrack Obama as the winner of the last Presidential election and you act surprised that Americans are stupid enough to buy a nonsense story. REALLY? :( :o True, true...

[Phil C]

What I don't understand is the the Players' Union knew of this possibility and urged the players to save some money so they could get by while this thing was going on. Some didn't follow the advice.

[SintonFan]

Originally posted by Phil C
What I don't understand is the the Players' Union knew of this possibility and urged the players to save some money so they could get by while this thing was going on. Some didn't follow the advice.

Makes you wonder if some of them can read.:(

This whole story also make you wonder if there are pay-day loans for "fat cats".:D

[buckeyebob]

Originally posted by Farmersfan
We now sit with Barrack Obama as the winner of the last Presidential election and you act surprised that Americans are stupid enough to buy a nonsense story. REALLY? :( :o

:clap: :clap: :clap:

[Farmersfan]

Originally posted by Phil C
What I don't understand is the the Players' Union knew of this possibility and urged the players to save some money so they could get by while this thing was going on. Some didn't follow the advice.




Not only that but just like someone else already posted these players wouldn't be getting a check right now even without the lockout. Why this is suddenly being related to the lockout has to be a planned PR stunt. Or perhaps these players take out these loans every offseason normally and then repay them when the season starts and we are only hearing about it because of the lockout.

[Reds fan]

Originally posted by Farmersfan
Not only that but just like someone else already posted these players wouldn't be getting a check right now even without the lockout. Why this is suddenly being related to the lockout has to be a planned PR stunt. Or perhaps these players take out these loans every offseason normally and then repay them when the season starts and we are only hearing about it because of the lockout. Do they have witholding on their 16 checks? Maybe they are having to borrow to pay Uncle Sam?:thinking: