05-30-2017, 10:46 PM
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#21
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Franchise Player
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Quote:
Originally Posted by Split98
I was thinking the same thing about the cottage. All I can think of is that he treated it like crap, and it's in disrepair.
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Well I think the market in Wawa Ontario for a 6000 square foot cottage has to be pretty damn low in the first place.
We are talking about a town of 3000 people.
So he might have taken good care of it. It's just that its not exactly in cottage country. It's halfway between Sudbury and Thunder Bay.
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05-30-2017, 10:50 PM
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#22
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Franchise Player
Join Date: Aug 2007
Location: Ontario
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Quote:
Originally Posted by Oil Stain
Well I think the market in Wawa Ontario for a 6000 square foot cottage has to be pretty damn low in the first place.
We are talking about a town of 3000 people.
So he might have taken good care of it. It's just that its not exactly in cottage country. It's halfway between Sudbury and Thunder Bay.
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Very good point:
http://www.royallepage.ca/en/on/wawa...h_to_low_price
This new listing is the highest price residential listing Royal LePage has in Wawa at $168,500.00:
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05-30-2017, 11:00 PM
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#23
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Powerplay Quarterback
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Chris Simon files for Bankruptcy
Maybe Simon will star in the next iteration of the "I didn't use a realtor" ads?
As a separated father (or.. human in general), seeing someone try to have their child support "forgiven" as though it were regular debt leaves a bad taste in my mouth. Take care of yours, loser.
__________________
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05-30-2017, 11:17 PM
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#24
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Lifetime Suspension
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Quote:
Originally Posted by Dion
I always find it quite sad when you read about pro athletes going broke and filing for bankruptcy. You gave a young athlete a boat load of money and some of them have no clue as to how to handle it.
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It happened all the time when Alan Eagleson was in charge of the NHLPA. Even Bobby Orr went broke.
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05-30-2017, 11:24 PM
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#25
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Franchise Player
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Quote:
Originally Posted by ToewsFan
It happened all the time when Alan Eagleson was in charge of the NHLPA. Even Bobby Orr went broke.
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That's because you weren't around to pray for Bobby Orr
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05-31-2017, 12:25 AM
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#26
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Retired
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5 goals in the 03/04 playoff run for the Flames. Incredible for an enforcer type player.
Compare your own personal achievements to that before casting stones. But its easy to dump on someone who spent so much money with nothing to show for it.
I hope things work out for him in the long run.
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05-31-2017, 02:48 AM
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#27
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Franchise Player
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Quote:
Originally Posted by Delgar
5 goals in the 03/04 playoff run for the Flames. Incredible for an enforcer type player.
Compare your own personal achievements to that before casting stones.
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What, so nobody is allowed to say it's a bad idea to blow the after-tax portion of $15 million unless they are a former NHL enforcer who scored 5 playoff goals in a run to the Stanley Cup finals?
Tough crowd.
As for me, if I compare my own personal achievements to Chris Simon's, I find two things really leap to the eye:
1. I never played in the NHL, and consequently never earned $15 million (or any sizeable fraction thereof).
2. Despite this, I never went bankrupt.
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05-31-2017, 07:22 AM
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#28
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Franchise Player
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I believe that the NFL provides rookies with some type of basic financial management course
__________________
If I do not come back avenge my death
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05-31-2017, 07:30 AM
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#29
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Franchise Player
Join Date: Oct 2006
Location: San Fernando Valley
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Quote:
Originally Posted by Northendzone
I believe that the NFL provides rookies with some type of basic financial management course
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NHLPA also offers this for players. There's a lot of players that come and go in the NHL so it's not surprising that a small percentage of them run into financial troubles.
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05-31-2017, 08:06 AM
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#30
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Franchise Player
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I know a ton of people who are as brutal with money as Chris Simon. The minute you have kids involved though, there is no sympathy from me. When you started having kids, you take a long look in the mirror and tell yourself that no matter what, there's gotta be money for them.
That's just brutal that he dodged supporting his kids despite being an ex-pro athlete. Sad!
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05-31-2017, 08:24 AM
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#31
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Not the 1 millionth post winnar
Join Date: Aug 2004
Location: Los Angeles
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Quote:
Originally Posted by Erick Estrada
NHLPA also offers this for players. There's a lot of players that come and go in the NHL so it's not surprising that a small percentage of them run into financial troubles.
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If the "30 for 30" episode "Broke" is any indication it's well above 50%. In 2009 Sports Illustrated did a study of how many players were broke 2 years after retirement.
78% for NFL
60% for NBA
NHL probably isn't quite that bad, but yeah... 20 somethings with millions isn't a sound financial plan.
__________________
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Oilers give up a pick and a player to take on 5.5 mil."
-Bax
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05-31-2017, 08:30 AM
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#32
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Franchise Player
Join Date: Oct 2006
Location: San Fernando Valley
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Quote:
Originally Posted by Flashpoint
If the "30 for 30" episode "Broke" is any indication it's well above 50%. In 2009 Sports Illustrated did a study of how many players were broke 2 years after retirement.
78% for NFL
60% for NBA
NHL probably isn't quite that bad, but yeah... 20 somethings with millions isn't a sound financial plan.
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That NBA figure is absolutely terrible when you consider how small their roster sizes are. The NFL stat has to be taken with a grain of salt as the average career length is only 3 years and the roster sizes are large (46 not including practice roster). You have a very large portion of the league making league min and out of the NFL in a very short amount of time.
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05-31-2017, 08:36 AM
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#33
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Powerplay Quarterback
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Here's another idea, go get a f'n job like everyone else here on this board. Go sell cars, go back to school and work in an office after you graduate. Lazy drain on society is how I see this story.
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05-31-2017, 08:47 AM
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#34
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Franchise Player
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bIt is kind of an information gap that there is no disclosure on any NHL player on how their finances work.
What happens to a player's pay cheque making 3M in Alberta or BC or Manitoba?
How much of their endorsement money do they keep?
How much are they taxed? what sort of tax shelters do they use? When Sedins and Subban gave huge donations to hospitals how much did it actually cost them and how much did they save in taxes?
There are all sorts of memoirs publish but not one deals with how the money was managed.
from Hockey news career earnings: Wayne Gretzky is 109th at $42.6 million, Mario Lemieux is (fittingly) 66th at $52.5 million. Jagr has the highest career earnings 117.8M and a networth of 40M
From http://www.celebritynetworth.com Net worth: Gretzky 200M Lemieux 150M
Last edited by ricardodw; 05-31-2017 at 10:45 AM.
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05-31-2017, 08:58 AM
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#35
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Franchise Player
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As noted in the article, Simon is a member of the Michipicoten First Nation, so I'm not sure how much of that $15M he actually had to pay in taxes...
EDIT: Apparently that benefit is limited to income earned on reserve land? I'm not an accountant so I have no idea...
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05-31-2017, 09:03 AM
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#36
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#1 Goaltender
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Don't feel bad for him at all. He was a giant piece of #### on the ice and off.
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05-31-2017, 09:04 AM
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#37
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Franchise Player
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Quote:
Originally Posted by CroFlames
I know a ton of people who are as brutal with money as Chris Simon. The minute you have kids involved though, there is no sympathy from me. When you started having kids, you take a long look in the mirror and tell yourself that no matter what, there's gotta be money for them.
That's just brutal that he dodged supporting his kids despite being an ex-pro athlete. Sad!
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Yup exactly. That's why I feel zero sympathy for the guy. Unless there is some behind the scenes agreement we don't know about, the guys a dead beat dad, plain and simple. The world is full of men like that, and each and every one of them is a POS for doing that. Surprised to see so many people siding with him.
He had a situation where he made more money then 99.999% of any human being in the entire history of the human race ever has, and somehow ended up broke and is 3 years late on child support payments. You have kids, you pay for them. End of story, no exceptions. Work at McDonald's if you have to.
Good luck on that lawsuit Chris the timing couldn't have been more perfect.
And thanks for '04. I really did like you back then.
Last edited by Huntingwhale; 05-31-2017 at 09:07 AM.
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05-31-2017, 09:09 AM
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#38
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Franchise Player
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in some fairness to the players, I'd imagine that it is easy to get sucked into an expensive lifestyle - you can have significant chunks of free time, so you can go shopping (and you are likely buying expensive suits to keep up with the boys on the team), I'd alos imagine there are lots of expensive dinners, agents to pay for, additional off season training (skating coaches, nutritionists, mental coaches etc).
that being said, I believe the NHL players get a per diem of something like $300 per day when on the road, and I am assuming lots of them get other perks like free vehicles to drive.
I'd imagine guys like Chris Simon and others who come from poor communities have lots fo people asking for help and you stir in a few poor investment decisions and bam - you have gone thru $10,000,000.
I'd also think there are some players who remain more grounded and are able to live a more reasonable lifestyle and are not afraid to ask for help with their money.
however, it seems like NBA players in general get really dumb ideas - for example I am sure I recall on player building a stupidly large home with a Shark Tank - while a shark tank is a cool idea, it is very impractical for all but one of the five richest sultans or perhaps royalty.
think of how much money Mike Tyson wasted on food for his pet tiger.
Despite the above, I still think simon was a fool and I would not even send positive energy his way
__________________
If I do not come back avenge my death
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05-31-2017, 09:18 AM
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#39
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Unfrozen Caveman Lawyer
Join Date: Oct 2002
Location: Winebar Kensington
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Quote:
Originally Posted by Dion
I always find it quite sad when you read about pro athletes going broke and filing for bankruptcy. You gave a young athlete a boat load of money and some of them have no clue as to how to handle it.
Maybe all pro sports leagues should make it manditory that all athletes take course in financial management.
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Can agents do more to protect their clients from themselves?
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05-31-2017, 09:19 AM
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#40
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Dances with Wolves
Join Date: Jun 2006
Location: Section 304
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Quote:
Originally Posted by Northendzone
in some fairness to the players, I'd imagine that it is easy to get sucked into an expensive lifestyle - you can have significant chunks of free time, so you can go shopping (and you are likely buying expensive suits to keep up with the boys on the team), I'd alos imagine there are lots of expensive dinners, agents to pay for, additional off season training (skating coaches, nutritionists, mental coaches etc).
that being said, I believe the NHL players get a per diem of something like $300 per day when on the road, and I am assuming lots of them get other perks like free vehicles to drive.
I'd imagine guys like Chris Simon and others who come from poor communities have lots fo people asking for help and you stir in a few poor investment decisions and bam - you have gone thru $10,000,000.
I'd also think there are some players who remain more grounded and are able to live a more reasonable lifestyle and are not afraid to ask for help with their money.
however, it seems like NBA players in general get really dumb ideas - for example I am sure I recall on player building a stupidly large home with a Shark Tank - while a shark tank is a cool idea, it is very impractical for all but one of the five richest sultans or perhaps royalty.
think of how much money Mike Tyson wasted on food for his pet tiger.
Despite the above, I still think simon was a fool and I would not even send positive energy his way
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For all of Tyson's monstrous behaviour, at least he supported that tiger.
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