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Author Topic: did i hear espn right this morning  (Read 1485 times)

Offline SPURSX3

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did i hear espn right this morning
« on: May 11, 2005, 01:49:18 PM »
Did Lebron really fire his agent? and hire his high school best friend as his new agent???   saw it as i was walking out for work...did i hear it right?
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On the set of Walker Texas Ranger Chuck Norris brought a dying lamb back to life by nuzzling it with his beard. As the onlookers gathered, the lamb sprang to life. Chuck Norris then roundhouse kicked it, killing it instantly. The lesson? The good Chuck giveth, and the good Chuck, he taketh away.

jn

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did i hear espn right this morning
« Reply #1 on: May 11, 2005, 02:01:38 PM »
You did.  He and four buddies are forming their own managment company after he dumped Aaron Goodwin.  The lead manager is a 24 year old former teammate named Maverick.  Notice the lack of quotations around that name.  It's not a nickname.  Lebron's millions will now be managed by a guy named Maverick.  That can only be good!  My initial response on hearing that a bunch of his high school buddies would now manage the money was that many of this great nation's hottest strippers would move up a tax bracket and a new Humvee plant would have to be opened to keep up with demand.

Scoop Jackson has a big article on it on ESPN.

P.S.  One of the interesting things is that while Lebron was in high school, his good buddy Maverick somehow ended up with an internship at Nike. Hmmmm....
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Offline JoMal

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did i hear espn right this morning
« Reply #2 on: May 11, 2005, 02:29:01 PM »
I don't know if I would have the guts to rely on my 24 year old financial advisor to make sure my investments only make money depending on whether or not the drug deal went down without a hitch.
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Offline SPURSX3

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did i hear espn right this morning
« Reply #3 on: May 11, 2005, 03:17:43 PM »
so i guess we should expect to se leron shaking up with another player after Maverick takes his money.....yeeeesh  :crazy:  
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On the set of Walker Texas Ranger Chuck Norris brought a dying lamb back to life by nuzzling it with his beard. As the onlookers gathered, the lamb sprang to life. Chuck Norris then roundhouse kicked it, killing it instantly. The lesson? The good Chuck giveth, and the good Chuck, he taketh away.

Offline Reality

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did i hear espn right this morning
« Reply #4 on: May 11, 2005, 04:03:21 PM »
Not entirely as crack induced as some may initially conclude.

Foundation is set.  Once Lebron landed and continues to have in place Nike Sprite and the other big ones, all his agent basically does now is sit and answer the phone.  Old agent made plenty of coin for setting those up and sitting on them the last two years.

So new guy will not have to start from ground zero at all.

I think main thing is Lebron wants to keep it in home and be loyal to his friends.  Lets hope the favor is returned and the wealth gets shared these next 5 years.
« Last Edit: May 11, 2005, 04:04:33 PM by Reality »
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Offline SPURSX3

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did i hear espn right this morning
« Reply #5 on: May 11, 2005, 05:30:39 PM »
Quote
Not entirely as crack induced as some may initially conclude.

Foundation is set.  Once Lebron landed and continues to have in place Nike Sprite and the other big ones, all his agent basically does now is sit and answer the phone.  Old agent made plenty of coin for setting those up and sitting on them the last two years.

So new guy will not have to start from ground zero at all.

I think main thing is Lebron wants to keep it in home and be loyal to his friends.  Lets hope the favor is returned and the wealth gets shared these next 5 years.
I think it will be a while before anyone signs with these kids, even with lebron on board.  players will want to see some results, they will wait for new endorsements, new contracts, etc before they put thier millions in the hands of these "kids."  it is an interesting project, wonder if it will work...
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On the set of Walker Texas Ranger Chuck Norris brought a dying lamb back to life by nuzzling it with his beard. As the onlookers gathered, the lamb sprang to life. Chuck Norris then roundhouse kicked it, killing it instantly. The lesson? The good Chuck giveth, and the good Chuck, he taketh away.

Offline Reality

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did i hear espn right this morning
« Reply #6 on: May 11, 2005, 06:20:31 PM »
Quote
I think it will be a while before anyone signs with these kids, even with lebron on board.  players will want to see some results, they will wait for new endorsements, new contracts, etc before they put thier millions in the hands of these "kids."  it is an interesting project, wonder if it will work...
Lets just hope after he plays out his Cavs contract and is an unrestricted FA he will do the right thing.  Sign with the Spurs.
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Guest_spursfan101

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did i hear espn right this morning
« Reply #7 on: May 11, 2005, 09:35:27 PM »
I would think Lebron would learn a few lessons from a certain Miami Dolphin player named Rickey Williams. Remember who his agent was?? Some rapper who screwed him over.
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Offline msc

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did i hear espn right this morning
« Reply #8 on: May 12, 2005, 06:02:58 PM »
Reality brings up a valid point that the foundation has been already been laid.  

That said, I look at it this way.  LeBron and his related entities is a corporation.  This corporation has done very well to date primarily due to the contracts that have been negotiated by his former agents.  This corporation has an enterprise value.  I'm not sure what the value is, but I'd guess it's in the vicinity of $100-$200million ... probably even higher.  So, ask yourself, if you owned a $200million company, would you hand it over to 4 high school friends??? BTW, none of them have a college degree, any sort of business education or real life biz experience, any sort of legal degree or background ....  This guy is absolutely NUTS.  I'm all for "keeping it real" and "taking care of your own", but IMO he is either  :drunk: or  :crazy: for doing this.
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rickortreat

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did i hear espn right this morning
« Reply #9 on: May 12, 2005, 11:34:19 PM »
It's a big mistake to rely on inexperienced people when it comes to money.  LeBron can be sure to make a bunch over his career, the big thing is to preserve that wealth and grow it over time.

Most people are idiots when it comes to money.  They don't undertand the first thing about inflation, monetary devaluation or taxes, all of which are essential to preserving wealth.  

They make it hard for anyone to keep what they make, and it's also very hard to find poeple you can trust with your money, confident that they're treating it as carefully as their own.  It seems a lot of players end up trusting people who make their money their own!
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