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.
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.