How can tax exempt status possibly be justified when commissioner Roger Goodell is paid $29 million a year?
It's a perfect example of how corrupt our special interest system of government is.
Coincidentally, this morning a friend just sent me this Daily Beast article about how former quarterback Vince Young has declared bankruptcy. Young was paid $34 million over six NFL seasons up until 2011.
An excerpt from the article:
According to a 2009 study, 78 percent of former NFL players file for bankruptcy or are under severe financial distress within two years of retirement.
That's a mind-boggling statistic. You have to wonder what's going through the 78 percent's heads while they're active. They must all think that they're going to never get injured, or cut, and that as soon as the world recognizes their greatness they're going to be raking in major endorsement deals. So in the meantime, why not flash some bling?
On top of that, a lot of players have poor relatives to support, and because of their lack of financial savvy, they get taken advantage of by unscrupulous agents, managers, and lawyers.
It's a witches' brew of optimism, narcissism, generosity, innocence, and stupidity.
NFL players often represent a combination of extreme physical power and extreme lack of caution and common sense.
Lottery winners are given the option of a longer term or lump sum payout. Most opt for the immediate money, and most, like professional football players, go through their winnings fairly rapidly.
Maybe pro footballers should not be given that option. With a slower payout, fewer would get into financial trouble, and, frankly, fewer would have the opportunity to get into the kinds of trouble they tend to get into during their playing years.
Maybe Roger Goodell could partially justify his bloated salary by instituting such a system.