MCW's paycheck goes to a trust that he can't touch

[Gabjon]

For 3 years! His entire check! He is living off of endorsements!
Link

 

[stuckinbig11]

if only all NBA players were smart enough to do that

 

[orange79]

If true, smart move. He won't be playing forever.

On a side note: Tracie Tracy?????? Sounds like Dad had some fun while Mom was recovering from the birth. Reminds me of Major Major Major.

 

[cto]

Got to know his mother Mandy (and his step dad) last year. She impressed me as a pretty sharp woman. If this is true, good for her.

 

[Orangezoo]

Read another article about that a few weeks ago. Really great how dedicated the family is. Wish the nba had something setup like that for rookies or some sort of mandatory savings plan. Good for mcw!

 

[orange79]

Read another article about that a few weeks ago. Really great how dedicated the family is. Wish the nba had something setup like that for rookies or some sort of mandatory savings plan. Good for mcw!

I think that would benefit the vast majority of players. Legally, I'm not sure they could mandate that.

 

[Eric15]

"Hahaha - what a total square MCW is." -Allen Iverson, Bernie Kosar, Lenny Dykstra and Antoine Walker

 

[CusefanATL]

I think that would benefit the vast majority of players. Legally, I'm not sure they could mandate that.

they could probably make it easier to defer pay

in a world where most athletes 'retire' by the time they are 30 but theoretically cant touch their retirement until they are 59... you would think most would plan for it.

:bat::bang:

 

[Capt. Tuttle]

I think that would benefit the vast majority of players. Legally, I'm not sure they could mandate that.

If the NBA can keep 18 year olds out out the league, anything is possible.

 

[orange79]

If the NBA can keep 18 year olds out out the league, anything is possible.

Very true. Good point.

 

[stuckinbig11]

For 3 years! His entire check! He is living off of endorsements!
Link

So it will be three years before he can donate $3M to SU for updates to the Melo-Michael Center?

 

[Rocco]

I wish we heard more stories like versus the unfortunate opposite. Great to see people looking out for some of these players versus the people holding their hands out and acting like leeches.

Good for MCW. Basketball might not be the end-all, so you need to prepare yourself and save while things are great.

 

[texascpa]

"Hahaha - what a total square MCW is." -Allen Iverson, Bernie Kosar, Lenny Dykstra and Antoine Walker

Someone posted this in the comments section of that article:

Rob Wrigh posted about 6 hours ago Contributor I
actually Allen Iverson did have someone do this for him, his agent. He has a trust fund of 50 million that he can't touch until he turns 60 and he draws the interest, which comes out at a million a year, which is how he lives.

 

[llandz]

Smartest "basketball" parents out there. His step dad also lives with him , and helps him make the transition to the pros. The coaches allow him to sit up high in the stands, and he later goes over with Michael what they are trying to get him to do. Smart of Philly to realize he has two well known coaches for his parent/stepparent. If he is good the endorsement money will be plenty.

 

[retro44]

the ball chasers will be very pissed......that is great and I hope he steers other S.U. players to do this. Could be a very good recruiting move years down the line where we can tell new recruits that we have the most millionaires in their 40's

 

[Jasoncuse]

I think that would benefit the vast majority of players. Legally, I'm not sure they could mandate that.

Couldn't it be written into their contracts, which means the NBA could agree to that as part of their CBA? I don't know if it could benefit agents or not, but maybe they need to push their clients into starting these trusts, even if it's just a portion of their paycheck.

 

[44cuse]

if only all NBA players were smart enough to do that

I know what you meant so not trying to imply you don't agree with what I am saying as well. So pls do t take it that way. But there is another element to this and it has to do with family. MCW's familial influences are strong and positive and probably most importantly: present.

It makes a huge difference in kids who make good decisions versus bad when it comes to this stuff.

44cuse

 

[Millhouse]

i hope he's not short on cash next time he goes bathrobe shopping

 

[CusefanATL]

i hope he's not short on cash next time he goes bathrobe shopping

same thought went through my head.