Trail Blazers Sign James Bouknight To An Exhibit-10 Contract
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good for him. I'd hope he will be a bit more serious about his career. But if not, no worries. He should still be pretty rich.
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Let’s hope there’s a veteran or two who can take him under their wing. I’m rooting for him.
Doesn’t take long to pee that money away. Being rich isn’t as important as what he does with his life.
Samoo
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Looks like I'll be headed to some Remix games. Would love to see Bouk get his game back on track here in Stumptown.
www.blazersedge.com
Trail Blazers Sign James Bouknight To Exhibit 10 Deal
The 2021 NBA Draft pick previously played for the Charlotte Hornets, and is expected to join the Rip City Remix.
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Rich? No chance. Even if he saved, he has had very little income for a year to live.
He got a windfall, but no way is he set for life. He gonna have to earn. Taxes, agent fees, what he sworn when he was in nba. Unless he moving thrifty, I hope he is able to carve out a career and then rely on something else in his 30s.
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If this is true
James Bouknight | NBA Contracts & Salaries | Spotrac.com
James Bouknight contract and salary cap details, full contract breakdowns, salaries, signing bonus, roster bonus, dead money, and valuations.
Yes, that is set for life money. I could live on 1/4th of that for life no issue. Is it easy to piss away? Of course, but being even an average amount of careful and you don't have to work a day with that money.
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JerseyAlum
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Good for him - he gets a second, well third really chance. Let's hope he can avoid some immature life choices he made.
Chin Diesel
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If this is true
James Bouknight | NBA Contracts & Salaries | Spotrac.com
James Bouknight contract and salary cap details, full contract breakdowns, salaries, signing bonus, roster bonus, dead money, and valuations.www.spotrac.com
Yes, that is set for life money. I could live on 1/4th of that for life no issue. Is it easy to piss away? Of course, but being even an average amount of careful and you don't have to work a day with that money.
1. Most players do piss it away
2. Most aren't even close to an average amount of careful
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Some players piss it away, and the ones that do are famous for it. Most are, actually, careful enough (and some, like LeBron & KG, are/were notoriously cheap).
Anyway, Bouk made $13 million. He's gonna be fine in terms of money.
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Not saying he should be poor and penniless, but a minimum of 50% of that is taken in taxes, insurance, agent fees, etc. Maybe it is up to 60% from what I have heard from other athletes. And most of it isn't a lump sum.If this is true
James Bouknight | NBA Contracts & Salaries | Spotrac.com
James Bouknight contract and salary cap details, full contract breakdowns, salaries, signing bonus, roster bonus, dead money, and valuations.
Yes, that is set for life money. I could live on 1/4th of that for life no issue. Is it easy to piss away? Of course, but being even an average amount of careful and you don't have to work a day with that money.
The hardest thing to do is live like you make $5 million a year when in fact, you only make $5 million a year for 4 years of a 40-year working career. His spending should be MUCH LESS than we think. You gotta be a miser IMO, to make it last.
We are looking at $9 million over four years. He has 40 more years of working. Now, let's say, because he is young, he spent half that money on houses, cars, expenses, taking care of fam and living expenses as a pro athlete.
So he should have what, 25% left for saving and investing? That gotta last him 40 years.
Right now, he is making ZERO, G League $40K. He losing money playing in the G League. So unless he watches expenses, he is going to be losing money every year he plays, what is he supposed to do for income when playing days are done? There is no way his income covers his expenses year over year. Not unless he saddles up and lives a middle class lifestyle.
Secondly, I used to work for a person who made millions. Every time we went out to dinner as a team that person would get the bill. Every Time. You think anytime James takes his friends, families out they paying?
Listen, I am not saying have sympathy, but Wall Street bonus people and real estate windfall recipients blow money just as fast.
If Hurley impressed on him to get a budget, and he is disciplined, he is fine. But this isn't Bobby Axe money.
Edit: When I was 22, I would have blown all the money. LOL.
Chin Diesel
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Google away for yourself but the links I looked at said more than half essentially go broke, bankrupt or have no meaningful money within two years leaving the league.
I'll leave you to fight the good battle between "most" and "some" if you'd like.
He's likely going to be waived and signed to the Blazers G-League team. An Exhibit 10 deal means he will get a bonus (up to $75K) if he plays at least 60 days for the affiliated G-League team.
Hope he can figure his stuff out. If he plays well in the G-League wouldn't surprise me if he gets another chance (though the Blazers already have a bunch of young guards).
Hope he can figure his stuff out. If he plays well in the G-League wouldn't surprise me if he gets another chance (though the Blazers already have a bunch of young guards).
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Bouk needs a developmentally minded organization to make it in the NBA. If he goes to Europe, he’ll make more money but he probably won’t improve much. He can coast in Europe and stick. He needs to learn not to coast. He also needs to have kicked his “bad habits”.
It's easier to get call-ups midseason if you're in the G-League, plus maybe he just wants to stay in America. Europe isn't going anywhere, my guess is he'll head overseas so he can make more money if he doesn't make it back to the NBA in the next ~2 years.
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He made $13 million in salary and had a multi year endorsement deal from Nike. He's set for life if he isn't a total with money.
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I hope he has decided to get his act together and not waste the God given talent with which he was blessed.
I think this is complicated but
1) most of these studies were down before 2010
2) the NBA has invested a lot of time and resources into educating young players about finances and the right kinds of financial adivsors following these damning studies
3) the culture of the league has evolved and most of them are better with money than they used to be
4) 50% of the league is on a contract right now that pays less than 13 million. There are a lot of minimum guys, 10 days, cup of coffee guys that eat into these stats. He made more money than most will in the league despite only playing 3 years so far.
But he still could have blown the money. We all saw the Doritos in the parking garage with the glock and $100k+ car.