NFL 'Donald Trump of frugality'

[OneDollarAtATime]

Interesting article about a guy who walked away from the NFL.  I pulled out the 'frugal' story that this group would like:

Borland's only connection to the NFL now is through his friends and his bank account. His financial situation isn't desperate, but it's not what many people think it is. The 49ers paid him $420,000 in salary last year (the NFL minimum) plus his $617,436 signing bonus. Minus taxes and contributions to his charitable trust, he took home about $550,000 -- but still has that bill for more than $463,000 of his signing bonus. Borland, who led the 49ers in tackles last year, used a performance bonus to pay the first installment and still owes more than $300,000, due over the next two years. (It helps that Borland is the Donald Trump of frugality. Despite grossing well over $1 million last year, he rented a room in a Silicon Valley condo for $800 a month. One night he was FaceTiming with his mother, who got a glimpse of the bare walls, the reading lamp on the floor. "Chris, are you in the hospital?" she asked.)


http://espn.go.com/nfl/story/_/id/13463272/how-former-san-francisco-49ers-chris-borland-retirement-change-nfl-forever

[forummm]

If it were me, I would have played one more year. With all the abuse his head has already taken, I think the marginal damage would be relatively small and the compensation would be huge. He would essentially earn another chunk of that signing bonus (instead of having to repay it), plus his salary. He could save it all and then retire to lower paying work and be pretty set.

[EricP]

So, due to having to pay high taxes on his signing bonus and the 49ers expecting the whole sum back he is going to end up with only ~$80k in take home pay for his year in the NFL.  That's rough, imo.

[forummm]

So, due to having to pay high taxes on his signing bonus and the 49ers expecting the whole sum back he is going to end up with only ~$80k in take home pay for his year in the NFL.  That's rough, imo.

He should have thought of that before quitting. I guess it was a few too many times he got hit in the hea.... oh right.

[Jeremy E.]

If it were me, I would have played one more year. With all the abuse his head has already taken, I think the marginal damage would be relatively small and the compensation would be huge. He would essentially earn another chunk of that signing bonus (instead of having to repay it), plus his salary. He could save it all and then retire to lower paying work and be pretty set.

Some things are more important, a lot of football players have gotten Chronic traumatic encephalopathy, scary stuff. I completely understand not wanting to play another year.

[Roboturner]

So, due to having to pay high taxes on his signing bonus and the 49ers expecting the whole sum back he is going to end up with only ~$80k in take home pay for his year in the NFL.  That's rough, imo.

He should have thought of that before quitting. I guess it was a few too many times he got hit in the hea.... oh right.

lol

[OneDollarAtATime]

So, due to having to pay high taxes on his signing bonus and the 49ers expecting the whole sum back he is going to end up with only ~$80k in take home pay for his year in the NFL.  That's rough, imo.

He should have thought of that before quitting. I guess it was a few too many times he got hit in the hea.... oh right.

Ha!  Good one.

I agree.  Why not just completely suck for a year so you don't get playing time but do get the money?

[AZDude]

Not sure professional athletes are built like that. Plus, most contracts are non-guaranteed. It would be tough to practice just enough to not get cut, but not well enough to get into a game. Not to mention that practice is just as tough as a game.

Anyway, he also got a free education. Free BS degree plus $80K is a little rough for 5 years worth of gladiatorial combat, but it could have been worse.