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Hitting Monster.comAccording to the former Dallas Cowboy, a lot of that cash -- and whatever he made in endorsements -- is gone.
That's why Owens seems desperate to play in the NFL again. Or why he's playing in a semi-pro league in Allen. He needs money.
Lots of athletes blow through their cash. I think Antoine Walker was a pretty crazy case of hangers-on and family bleeding him dry.
Truth is, professional athletes are typically dumb. Meaning, they wouldn't know an IRA or stock if it bit them in the ass. Inflation and interest rates are rocket science. Consider most don't finish college and if they did they weren't getting accounting degrees. Many -- especially in hockey and baseball -- never even go to college. Their idea of money management is having cash and buying something and maybe -- just maybe -- putting some left over in a bank.
Many never had real jobs. It's not a surprise that many guys blow through their cash. Frankly, we could never imagine spending all of $120 million in a lifetime. Owens, honestly, probably never thought he'd run through that much cash either.
That's why he needed help. Owens is claiming that certain "trusted" firms and individuals made a series of catastrophic investment mistakes. These financial advisers were recommended by his agent, Drew Rosenhaus.
Frankly, this could happen to you or me. I have a guy that I trust with my investments and although I wouldn't consider my portfolio risky or high-yield or anything, there's still the chance that I could lose out.
Owens lost out. A lot. Former NBA star Vin Baker's in the same boat. He, too, claims that trusted financial advisers took care of his cash ... meaning, they lost it hand over foot.
I've always felt Owens got a pretty raw deal in Dallas. He was great for the Cowboys. As we might be learning -- although no one would ever admit it -- maybe Owens wasn't such a big problem as we might have thought he was. Remember, it was still Tony Romo throwing the ball, still Jason Garrett calling the plays and we ran the head coach out of town on a rail. And we know who the general manager is.
Fact is, Jeff Garcia and Donovan McNabb were never the same once he left.
Owens has Hall-of-Fame numbers and I think it'd be crazy if he weren't inducted -- despite his attitude issues -- when his year comes up. Still, you might think he doesn't deserve another shot to play. You might think he's an asshole. You might think he doesn't deserve a spot next to Lynn Swann, Jerry Rice and Raymond Berry. That is fine.
But I think it's incredibly wrong to think he deserves this, losing his money. He earned that money and it's a shame that he's going through this ordeal.
Yes, he had baby mamas. Four of them. However, I never felt Owens was a guy that went on the town, purchased bottle service, bought Ferraris or spent lavishly because he could. He actually seems like a pretty conservative guy, relatively speaking. No way, without a little help, should he have blown through that money.
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