Author Topic: Gronk Doesn't Spend His Wealth  (Read 6034 times)

CabinetGuy

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Gronk Doesn't Spend His Wealth
« on: June 22, 2015, 07:58:22 PM »
I love Gronk...

http://sports.yahoo.com/news/rob-gronkowski-hasnt-spent-penny-200150156.html

[MOD NOTE: Merged duplicate topics.]
« Last Edit: June 24, 2015, 08:55:29 AM by arebelspy »

forummm

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Re: Gronkowski, mustacian!
« Reply #1 on: June 22, 2015, 08:03:31 PM »
I heard Shaq say he did the same thing.

KingCoin

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Re: Gronkowski, mustacian!
« Reply #2 on: June 22, 2015, 09:06:33 PM »
This has to be one the few "Mustachian" articles I've read where the comments are resoundingly supportive.

FrugalKube

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Re: Gronkowski, mustacian!
« Reply #3 on: June 22, 2015, 09:09:36 PM »
Good to see this from an Athlete...too many end up like Allen Iverson, Barkley,etc and blow it all
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golden1

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Re: Gronkowski, mustacian!
« Reply #4 on: June 23, 2015, 06:47:55 AM »
He makes a crapload from marketing though... he has his own cereal for petes sake:


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sol

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Re: Gronk Doesn't Spend His Wealth
« Reply #6 on: June 23, 2015, 03:12:44 PM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

nereo

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Re: Gronk Doesn't Spend His Wealth
« Reply #7 on: June 23, 2015, 03:38:52 PM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096
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Jags4186

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Re: Gronk Doesn't Spend His Wealth
« Reply #8 on: June 23, 2015, 04:30:39 PM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096

No but that means if he's spent 3.5 million in 3 years and has 16.3 million in the bank he's 16x expenses in 3 years.  He'll be FI in another 2 or 3 seasons, 6 years total!  Makes MMM and Jacob at ERE look like amateurs...taking 10 years to become FI and all.  Plus he doesn't have the benefit of a wife making about as much as he is.

nereo

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Re: Gronk Doesn't Spend His Wealth
« Reply #9 on: June 23, 2015, 05:40:56 PM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096

No but that means if he's spent 3.5 million in 3 years and has 16.3 million in the bank he's 16x expenses in 3 years.  He'll be FI in another 2 or 3 seasons, 6 years total!  Makes MMM and Jacob at ERE look like amateurs...taking 10 years to become FI and all.  Plus he doesn't have the benefit of a wife making about as much as he is.
Possibly.  NFL contracts are not guaranteed, unlike in MLB, NHL or NBA.  He's got a $10M option this year, making him more than 3x as expensive as last year.  Injuries or a trade would negate that. He could hit 25x earnings by next February, or he could blow out his already surgically repaired knee and be stuck with a million/year lifestyle that he can't quite sustain.  A lot can happen in just one play.

yes, i realize this is all conjecture and a bit silly, but it's fun to talk about.
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forummm

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Re: Gronk Doesn't Spend His Wealth
« Reply #10 on: June 23, 2015, 07:08:41 PM »
But he has a big career in front of him with Gronk Flakes.

Cycling Stache

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Re: Gronk Doesn't Spend His Wealth
« Reply #11 on: June 23, 2015, 07:16:27 PM »
I appreciated this news.  While he still may spend a ridiculous amount of money, you know when he mentioned not buying something that he could have, or that he hasn't touched his earnings, his friends probably said come on, you've got millions, what's the difference if you buy x, y, z.  I like the idea that Gronk probably has had to put up with some of the grief that we get from friends and coworkers when we don't join in the fancy lunches, or coffees, or happy hours, or just have one drink rather than four, that so many do.

hybrid

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Re: Gronk Doesn't Spend His Wealth
« Reply #12 on: June 23, 2015, 07:36:07 PM »
He's doing a helluva lot better than some former Patriot tight ends...
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forummm

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Re: Gronk Doesn't Spend His Wealth
« Reply #13 on: June 23, 2015, 07:38:39 PM »
He's doing a helluva lot better than some former Patriot tight ends...

Yeah, some of them would kill to make that kind of money.

grantmeaname

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Re: Gronk Doesn't Spend His Wealth
« Reply #14 on: June 23, 2015, 07:38:49 PM »
He's doing a helluva lot better than some former Patriot tight ends...
Don't judge. Hernandez is set for life too.

forummm

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Re: Gronk Doesn't Spend His Wealth
« Reply #15 on: June 23, 2015, 07:41:02 PM »
He's doing a helluva lot better than some former Patriot tight ends...
Don't judge. Hernandez is set for life too.

Grant, your puns slay me.

nereo

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Re: Gronk Doesn't Spend His Wealth
« Reply #16 on: June 23, 2015, 08:12:05 PM »
He's doing a helluva lot better than some former Patriot tight ends...
Don't judge. Hernandez is set for life too.
some say having no rent or mortgage to pay makes ER easier to achieve.
.... at least Gronk's not shooting his retirement in the leg.
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Chris22

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Re: Gronk Doesn't Spend His Wealth
« Reply #17 on: June 24, 2015, 05:56:04 AM »
It doesn't say he's spent all of his marketing money, it says he lives off of it.

Quote
To this day, I still haven't touched one dime of my signing bonus or NFL contract money. I live off my marketing money and haven't blown it on any big-money expensive cars, expensive jewelry or tattoos and still wear my favorite pair of jeans from high school.
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

forummm

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Re: Gronk Doesn't Spend His Wealth
« Reply #18 on: June 24, 2015, 06:24:40 AM »
He's doing a helluva lot better than some former Patriot tight ends...
Don't judge. Hernandez is set for life too.
some say having no rent or mortgage to pay makes ER easier to achieve.
.... at least Gronk's not shooting his retirement in the leg.

In my judgment, that's a long sentence.

bb11

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Re: Gronk Doesn't Spend His Wealth
« Reply #19 on: June 24, 2015, 07:47:08 AM »
You guys are killing me with the puns. Awesome.

I feel like this is really pretty admirable though. Hard to know for sure but I suspect endorsements are less than 25% of his income. To live off that as a celebrity is presumably rare. Athletes are notorious for being unable to save anything.

forummm

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Re: Gronk Doesn't Spend His Wealth
« Reply #20 on: June 24, 2015, 08:12:08 AM »
You guys are killing me with the puns.

I see what you did there.

Cougar

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Re: Gronk Doesn't Spend His Wealth
« Reply #21 on: June 24, 2015, 08:28:40 AM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096

Thanks for this, I was initially impressed; but I'm sure he is doing a lot better than just getting by on 3.5 mil.

My guess is he's saving up to buy car dealerships when he retires, seems to be the thing to do for former players with good name recognition. I can just see "make sure your F-150 is Gronk tough" now.

cautiouspessimist

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Re: Gronk Doesn't Spend His Wealth
« Reply #22 on: June 24, 2015, 08:37:36 AM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096

Thanks for this, I was initially impressed; but I'm sure he is doing a lot better than just getting by on 3.5 mil.

My guess is he's saving up to buy car dealerships when he retires, seems to be the thing to do for former players with good name recognition. I can just see "make sure your F-150 is Gronk tough" now.

Given that he specifically mentioned that he's avoided buying fancy cars and stuff, I imagine that he's probably not spent most of that 3.5 (or so). If he has, a lot of it probably went to things like buying a house, buying his parents a house, etc. That sort of thing seems to be common with football players, though clearly Gronk isn't entirely typical.

Chris22

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Re: Gronk Doesn't Spend His Wealth
« Reply #23 on: June 24, 2015, 08:45:01 AM »
Looks like he saved his nfl income and spends his endorsement income.  I'm not sure which is larger, but I'm not exactly sure this automatically qualifies him for frugal accolades.

If you made 50 million last year and managed to save 20 million, are you really doing that well?  You'd still be a long way from 25x expenses.

Hard to tell exactly, since endorsement deals are notoriously secretive.  One source I found estimates his endorsements-to-date to be about $3.5MM so far.
His NFL contract has payed out $16.3MM.

He's certainly doing better than some highly-paid pro athletes have done - but $3.5MM is equivalent of earning $88k/year for 40 years (taxes not-withstanding).  Is that mustachian? Not if he's spent all of that since his rookie year in 2012.

http://nep.247sports.com/Bolt/How-much-has-Rob-Gronkowski-earned-from-endorsements-37898096

Thanks for this, I was initially impressed; but I'm sure he is doing a lot better than just getting by on 3.5 mil.

My guess is he's saving up to buy car dealerships when he retires, seems to be the thing to do for former players with good name recognition. I can just see "make sure your F-150 is Gronk tough" now.

Given that he specifically mentioned that he's avoided buying fancy cars and stuff, I imagine that he's probably not spent most of that 3.5 (or so). If he has, a lot of it probably went to things like buying a house, buying his parents a house, etc. That sort of thing seems to be common with football players, though clearly Gronk isn't entirely typical.

Gronk also didn't come from "the streets" either, he has a close-knit family that appears to be middle class or thereabouts.  Also, several of his brothers also played pro ball.  Gronk's biggest "silly expenditure" I've read about is his "party bus" which he actually bought used from a church.  Given his partying reputation, it's probably actually a pretty smart investment to have someone driving him around (no DUI) and have some sober witnesses, etc, to fend off any acusations. 
"If I could get all the money back I ever spent on cars, I'd spend it on cars." - Nick Mason

nereo

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Re: Gronk Doesn't Spend His Wealth
« Reply #24 on: June 24, 2015, 09:09:19 AM »

Gronk also didn't come from "the streets" either, he has a close-knit family that appears to be middle class or thereabouts.  Also, several of his brothers also played pro ball.  Gronk's biggest "silly expenditure" I've read about is his "party bus" which he actually bought used from a church.  Given his partying reputation, it's probably actually a pretty smart investment to have someone driving him around (no DUI) and have some sober witnesses, etc, to fend off any acusations.

Ugh - I had an entire (and somewhat silly) reply typed out but the system 'ate' it. 
What about Gronk's 4700 ft2 "party home" in Tampa that he bought for $1.6M after his rookie signing?  True, he recently sold it for $2M, so all-in-all a good return on a ridiculous purchase.  According to teammates, he doesn't care for material goods "at all" - but take that with a grain of salt since his peers are the ones buying Bentleys, night-clubs and actual castles.
Still, we know he won't blow through money buying $300 bottles of wine: "I never drink wine. Thereís only one wine I like, but I forget what itís called. It tastes like Sprite."

I really admire how the guy is living on so much less than he earns.  With over $8M likely coming to him should he survive this coming season (base salary of $4.75MM plus $2M in options and a few million in various bonuses) he could be in excellent shape.  And yes, as you (Chris22) correctly pointed out, we don't know how much of the est. $3.5MM he's spent - it could be that he's living on far, far less and already has 25x+ expenses in the bank.

I really like the guy for his fanancial foresight in a world where blowing millions each year seems to be some sort of badge of honor.  But my favorite pro-sports player from a MMM perspective is still Daniel Norris.
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patrickza

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Re: Gronk Doesn't Spend His Wealth
« Reply #25 on: June 29, 2015, 04:49:55 AM »
Good story, but this one is still more to my liking: http://www.businessinsider.com/rich-baseball-player-living-in-a-van-2015-3

Edit: Sorry, see that he's been mentioned already.
« Last Edit: June 29, 2015, 06:29:59 AM by patrickza »

grantmeaname

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Re: Gronk Doesn't Spend His Wealth
« Reply #26 on: June 29, 2015, 05:16:57 AM »
I really like the guy for his fanancial foresight in a world where blowing millions each year seems to be some sort of badge of honor.  But my favorite pro-sports player from a MMM perspective is still Daniel Norris.