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(Deadspin)   You may be a millionaire, but you're still my son dammit...and you're not getting an allowance   (deadspin.com) divider line 42
    More: Amusing, Indiana Pacers, Klay Thompson, Roy Hibbert, Cheesecake Factory  
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4300 clicks; posted to Sports » on 01 Mar 2013 at 7:11 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-01 01:07:03 AM
Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...
 
2013-03-01 07:43:26 AM
I was sure it was about Flacco.
 
2013-03-01 07:57:36 AM

SJKebab: Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...


Sounded like good parenting until the 'we have our son's employers make his pay checks out to us and give him an allowance' thing. If he was anything but an nba player wed all me mocking them as helicopter parents.
 
2013-03-01 07:59:25 AM

SirVagTheTighty: SJKebab: Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...

Sounded like good parenting until the 'we have our son's employers make his pay checks out to us and give him an allowance' thing. If he was anything but an nba player wed all me mocking them as helicopter parents.


That's awful parenting, they've raised him to be a giant vagina who can't handle his own shiat. How old is this sissy?
 
2013-03-01 08:05:05 AM
He's 23. If his parents really do control his money, that's incredibly pthetic.
 
2013-03-01 08:08:38 AM

the biggest redneck here: SirVagTheTighty: SJKebab: Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...

Sounded like good parenting until the 'we have our son's employers make his pay checks out to us and give him an allowance' thing. If he was anything but an nba player wed all me mocking them as helicopter parents.

That's awful parenting, they've raised him to be a giant vagina who can't handle his own shiat. How old is this sissy?


Well yeah you are right, i just meant that they were still willing to call him out on it and express disappointment. I could see a lot like 'oh shiat son dont take that jack that guy'.
 
2013-03-01 08:19:17 AM
I like "come see what your dumb son did", pretty funny.

But this "brawl" really wasn't that big a deal, not sure he should be getting grounded and losing his allowance over it.

/put me in the 23 is too old for your parents to be managing your money group...the longer you coddle him the less likely he'll ever be able to manage his own shiat
 
2013-03-01 08:21:44 AM

SirVagTheTighty: the biggest redneck here: SirVagTheTighty: SJKebab: Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...

Sounded like good parenting until the 'we have our son's employers make his pay checks out to us and give him an allowance' thing. If he was anything but an nba player wed all me mocking them as helicopter parents.

That's awful parenting, they've raised him to be a giant vagina who can't handle his own shiat. How old is this sissy?

Well yeah you are right, i just meant that they were still willing to call him out on it and express disappointment. I could see a lot like 'oh shiat son dont take that jack that guy'.


Yeah, I was agreeing with you.

At 15, I'd probably be mad at my son for fighting. At 23, I might cheer him on. Depends on the situation.
 
2013-03-01 08:23:36 AM
How can it be a brawl if nobody threw a punch? It was just a bunch of guys playing grab ass
 
2013-03-01 08:35:10 AM
Good parents.  23 is too young to have access to millions of dollars unless it was pretty assured more would be coming for a long time in the future.  One injury or accident and he's done.  That money will mean a lot more to him after his playing days are done.
 
2013-03-01 08:39:28 AM

js34603: I like "come see what your dumb son did", pretty funny.

But this "brawl" really wasn't that big a deal, not sure he should be getting grounded and losing his allowance over it.

/put me in the 23 is too old for your parents to be managing your money group...the longer you coddle him the less likely he'll ever be able to manage his own shiat


Uh why is this pathetic? The guy is a professional athlete making millions. How many of these guys hire somebody to manage their money and get taken by the person? He found somebody to mange his money who he could trust and had his best interest in mind. This was a smart move by him.
 
2013-03-01 08:41:20 AM

alywa: Good parents.  23 is too young to have access to millions of dollars unless it was pretty assured more would be coming for a long time in the future.  One injury or accident and he's done.  That money will mean a lot more to him after his playing days are done.


There are ways to do that without holding the piggy bank and controlling an allowance. If they had impressed the importance of this and sat him down with financial planners and bankers to develop plans id be with you.
 
2013-03-01 09:07:13 AM

ongbok: js34603: I like "come see what your dumb son did", pretty funny.

But this "brawl" really wasn't that big a deal, not sure he should be getting grounded and losing his allowance over it.

/put me in the 23 is too old for your parents to be managing your money group...the longer you coddle him the less likely he'll ever be able to manage his own shiat

Uh why is this pathetic? The guy is a professional athlete making millions. How many of these guys hire somebody to manage their money and get taken by the person? He found somebody to mange his money who he could trust and had his best interest in mind. This was a smart move by him.


I don't know since I never said it was pathetic. You tell me, why does that straw man think its pathetic?

In any case, managing your money and hiring competent trustworthy people to work for you is part of being an adult. A part this 23 year old millionaire is missing out on because mommy and daddy are still giving him an allowance of his own money.

It's a lot of money sure. But there are plenty of 23 year olds managing their finances making a lot less and probably some making just as much. The fact they can't trust him to do so reflects on their son and their job raising him.
 
2013-03-01 09:14:17 AM

js34603: ongbok: js34603: I like "come see what your dumb son did", pretty funny.

But this "brawl" really wasn't that big a deal, not sure he should be getting grounded and losing his allowance over it.

/put me in the 23 is too old for your parents to be managing your money group...the longer you coddle him the less likely he'll ever be able to manage his own shiat

Uh why is this pathetic? The guy is a professional athlete making millions. How many of these guys hire somebody to manage their money and get taken by the person? He found somebody to mange his money who he could trust and had his best interest in mind. This was a smart move by him.

I don't know since I never said it was pathetic. You tell me, why does that straw man think its pathetic?

In any case, managing your money and hiring competent trustworthy people to work for you is part of being an adult. A part this 23 year old millionaire is missing out on because mommy and daddy are still giving him an allowance of his own money.

It's a lot of money sure. But there are plenty of 23 year olds managing their finances making a lot less and probably some making just as much. The fact they can't trust him to do so reflects on their son and their job raising him.


And he hired trustworthy competent people to handle his money, they just happened to be his parents. If he went with somebody who had stolen from him and invested his money in very bad investments you would be calling him an idiot.  And what is this thing about him getting an allowance? He is getting a stipend. A lot of people that make huge amounts of money and have people managing it for them get monthly stipends. This is a normal thing.
 
2013-03-01 09:18:28 AM

SirVagTheTighty: If they had impressed the importance of this and sat him down with financial planners and bankers to develop plans id be with you.


It's a toss up between family and financial planners.  Lots of creeps in both categories.  His dad has been through it before though and is probably looking out for his best interests.  Kid is smart enough to know he doesn't know enough about money to be trusted with the whole lump.

I have a good friend who is a financial planner for a few NHL players.  Same thing as here... with permission of the player and their family he puts them on an allowance (in this case the kid was making millions around age 19-20).  Enough money for a great apartment, nice car, spending cash for dinners and clubs, nice clothes, etc. Not enough to have an entourage, multiple sports cars, etc.   10-15k or so a month as I recall.  The rest of his 2+M salary went into safe investments so he'd be set for life.  Everybody wins.  Fortunately for the player he has had a long successful NHL career and he makes really big bucks, so it isn't an issue, but as a young 20 YO it was a great move.
 
2013-03-01 09:30:45 AM

SirVagTheTighty: alywa: Good parents.  23 is too young to have access to millions of dollars unless it was pretty assured more would be coming for a long time in the future.  One injury or accident and he's done.  That money will mean a lot more to him after his playing days are done.

There are ways to do that without holding the piggy bank and controlling an allowance. If they had impressed the importance of this and sat him down with financial planners and bankers to develop plans id be with you.


Maybe Dad has already sat down with kind of sleazeball who says, "I'm excellent at managing money. I don't actually have any though, so how about you give me your money to manage?"
Maybe Dad has a better idea.
 
2013-03-01 09:38:43 AM
Bankers with access to a kid's millions wouldn't steer him wrong, would they?
 
2013-03-01 09:42:00 AM
How is that legal? Their power of attorney over their child ended quite a while ago. I think their son will be sueing them in the near future.
 
2013-03-01 09:51:37 AM

js34603: In any case, managing your money and hiring competent trustworthy people to work for you is part of being an adult. A part this 23 year old millionaire is missing out on because mommy and daddy are still giving him an allowance of his own money.

It's a lot of money sure. But there are plenty of 23 year olds managing their finances making a lot less and probably some making just as much. The fact they can't trust him to do so reflects on their son and their job raising him.


Clearly I don't know the specifics of the situation any more than you do, but what if he asked his accountant to set it up this way so that he would be assured of a comfortable living after his playing days?  Also, his dad is a former player and probably has more firsthand knowledge of how to manage and retain an NBA salary than a normal parent.

//Win would have just punched him in throat.
 
2013-03-01 09:53:53 AM

SirVagTheTighty: SJKebab: Hat's off to the Old man here.  Damn good parenting that.  I have a feeling he might get pushed around on the court a bit more from now on though...

Sounded like good parenting until the 'we have our son's employers make his pay checks out to us and give him an allowance' thing. If he was anything but an nba player wed all me mocking them as helicopter parents.


Fark has seen any number of stories about pro athletes who have blown their millions and gone bankrupt. In that sense, I think the parents are doing him a huge favor--especially since the dad also played in the NBA, so he has experience with it.

Also, since the son is an adult, he's only in this arrangement by choice. Unless he signed some kind of iron-clad contract with his parents, he can start having his paychecks sent directly to himself any time he wants.

It's nowhere near "helicopter parenting".
 
2013-03-01 10:23:57 AM
Klay and Mychal?

Really?
 
2013-03-01 11:05:17 AM

ongbok: js34603: ongbok: js34603: I like "come see what your dumb son did", pretty funny.

But this "brawl" really wasn't that big a deal, not sure he should be getting grounded and losing his allowance over it.

/put me in the 23 is too old for your parents to be managing your money group...the longer you coddle him the less likely he'll ever be able to manage his own shiat

Uh why is this pathetic? The guy is a professional athlete making millions. How many of these guys hire somebody to manage their money and get taken by the person? He found somebody to mange his money who he could trust and had his best interest in mind. This was a smart move by him.

I don't know since I never said it was pathetic. You tell me, why does that straw man think its pathetic?

In any case, managing your money and hiring competent trustworthy people to work for you is part of being an adult. A part this 23 year old millionaire is missing out on because mommy and daddy are still giving him an allowance of his own money.

It's a lot of money sure. But there are plenty of 23 year olds managing their finances making a lot less and probably some making just as much. The fact they can't trust him to do so reflects on their son and their job raising him.

And he hired trustworthy competent people to handle his money, they just happened to be his parents. If he went with somebody who had stolen from him and invested his money in very bad investments you would be calling him an idiot.  And what is this thing about him getting an allowance? He is getting a stipend. A lot of people that make huge amounts of money and have people managing it for them get monthly stipends. This is a normal thing.


He "hired" them? Really, that's what you're going with? You think he considered several financial advisors but then decided his parents were the most qualified to handle his money?

Right, yeah I'm sure that's how it went, I'm sure dad didn't just tell him he was handling it and son had no input, I'm sure he "hired" them. Maybe they even take a nice little percentage for themselves, huh? That never goes bad, as several child actors can attest.

And sorry calling it a stipend and pretending a lot of rich people do it doesn't make it OK. The article says his dad is withholding some cash from his weekly envelope for his behavior during the "brawl". That doesn't sound like a stipend to me, that sounds like what your dad does when you don't cut the grass in high school. Obviously, they don't trust this kid to handle his own money, and they aren't going to let him. Which means he'll probably never be able to handle his own money since dad is sheltering him from having to handle it.
 
2013-03-01 11:12:17 AM

roc6783: js34603: In any case, managing your money and hiring competent trustworthy people to work for you is part of being an adult. A part this 23 year old millionaire is missing out on because mommy and daddy are still giving him an allowance of his own money.

It's a lot of money sure. But there are plenty of 23 year olds managing their finances making a lot less and probably some making just as much. The fact they can't trust him to do so reflects on their son and their job raising him.

Clearly I don't know the specifics of the situation any more than you do, but what if he asked his accountant to set it up this way so that he would be assured of a comfortable living after his playing days?  Also, his dad is a former player and probably has more firsthand knowledge of how to manage and retain an NBA salary than a normal parent.

//Win would have just punched him in throat.


If he has his accountant set him up that way, he's making an adult decision and handling his finances. If dad gives him an envelope of cash every week and manages his finances for him, then they're sheltering him from taking responsibility for himself, which could include hiring someone to do it for him.

Hell if his dad was a financial advisor and acting in that capacity, then yeah it's a good decision to let dad handle it. His dad being a former NBA player doesn't qualify him to manage his son's money...I don't think playing in the NBA gives you any particular worthwhile financial expertise.

I can only base which of those it is on what's in this article, which is dad is withholding some of his allowance because he didn't like his behavior during that non-brawl. Does that sound like a professional financial advisor relationship to you or like dad controlling his purse strings?
 
2013-03-01 11:14:36 AM

js34603: Right, yeah I'm sure that's how it went, I'm sure dad didn't just tell him he was handling it and son had no input, I'm sure he "hired" them. Maybe they even take a nice little percentage for themselves, huh? That never goes bad, as several child actors can attest.


Mychal Thompson spent 14 years in the NBA. He doesn't need his son's money.
 
2013-03-01 11:16:45 AM

js34603: I can only base which of those it is on what's in this article,


Probably not the best idea to do with Deadspin.
 
2013-03-01 11:18:13 AM

bubbaprog: Mychal Thompson spent 14 years in the NBA. He doesn't need his son's money.


And has two kids in the NBA and one in the MLB minors (not big money in the minors, but damn, that's a pretty good track record, especially if he eventually hits the big show. If he were a horse, his "breeding stock" would be worth millions).
 
2013-03-01 11:28:37 AM

bubbaprog: js34603: Right, yeah I'm sure that's how it went, I'm sure dad didn't just tell him he was handling it and son had no input, I'm sure he "hired" them. Maybe they even take a nice little percentage for themselves, huh? That never goes bad, as several child actors can attest.

Mychal Thompson spent 14 years in the NBA. He doesn't need his son's money.


Because 14 years in the NBA guarantees you life long financial independence? Wonder what Antoine Walker thinks about that.
 
2013-03-01 11:32:00 AM

js34603: roc6783: js34603: ***snip***


By manage an NBA salary (again, I am making the assumption that the dad is not a deadbeat a la Cecil Fielder) I mean his dad knows that you need a professional who knows what they're doing to invest and grow your money.  If you handed most people a check with 5+ zeroes on it, they wouldn't have the first clue as to what to do with it, which is why many players end up broke.

The phrase FTFA that threw me off was "and receives a regular stipend from his accountants/parents."  I assumed that they were separate entities, but reading the actual transcript the quotes are coming from, it sounds like the parents have complete control over his finances.  Again, since this guy is an adult, he had to consciously make the decision to let his parents control his money, but I hope for his sake that there is a professional involved somewhere.

//The linked transcript also provides quotes from the dad about what kind of budgeting he is doing, but all of this seems pretty tongue in cheek.
 
2013-03-01 12:56:58 PM
I am replying to a few of you, but professional money managers don't change the amount you can draw on your accounts based on whether they approve of your behavior or not.
 
2013-03-01 01:54:46 PM
This kid needs to grow up and get control of his money back. We pro athletes have great business sense.

Signed
Sean Kemp
Vince Young
Curt Schilling
Antoinne Walker
Terrell Owens
Lenny Dykstra
Deuce MacAllister

(and those are the ones I could quickly name off the top of my head)
 
2013-03-01 02:20:50 PM

mjohnson71: This kid needs to grow up and get control of his money back. We pro athletes have great business sense.

Signed
Sean Kemp
Vince Young
Curt Schilling
Antoinne Walker
Terrell Owens
Lenny Dykstra
Deuce MacAllister

(and those are the ones I could quickly name off the top of my head)


Magic Johnson
50 Cent
Michael Jordan
John Elway
Herschel Walker
Bo Jackson
 
2013-03-01 02:24:44 PM

SirVagTheTighty: I am replying to a few of you, but professional money managers don't change the amount you can draw on your accounts based on whether they approve of your behavior or not.


You really have not considered the possibility that the dad may be joking?  If you read the actual transcript it seems that way to me.

mjohnson71: This kid needs to grow up and get control of his money back. We pro athletes have great business sense.

Signed
Sean Kemp
Vince Young
Curt Schilling
Antoinne Walker
Terrell Owens
Lenny Dykstra
Deuce MacAllister

(and those are the ones I could quickly name off the top of my head)


I get where you are going with that list, but losing $75 million of public money may mean you have a bright future on Wall Street.
 
2013-03-01 02:44:08 PM

roc6783: I get where you are going with that list, but losing $75 million of public money may mean you have a bright future on Wall Street.


I noted that he was 40% on conversion rate with spelling black people's names correctly and 100% on the white guys' names, even with two white guys whose names are more difficult to spell.

/I'd say he's probably a baseball fan (since both guys who are white played baseball, but still)
 
2013-03-01 03:03:13 PM
The top comment on Deadspin is Fortunately, Klay will be able to earn that money back with his modeling career. I have no idea why that's supposed to be funny, but people there seem to think it is. Maybe it's because I'm not too familiar with this guy. Can someone explain the joke?
 
2013-03-01 03:03:37 PM

IAmRight: roc6783: I get where you are going with that list, but losing $75 million of public money may mean you have a bright future on Wall Street.

I noted that he was 40% on conversion rate with spelling black people's names correctly and 100% on the white guys' names, even with two white guys whose names are more difficult to spell.

/I'd say he's probably a baseball fan (since both guys who are white played baseball, but still)


Oh, well then let me amend my response...

static.neatoshop.com
 
2013-03-01 03:07:33 PM
Not hating. It's a good thing to have parents who care. Much better than the opposite. But man, I read this and I'm thinking, wow. I thought I grew up with some fairly traditional, conservative parents, but MT reads like he walked out of a Fifties sitcom.
 
2013-03-01 03:49:20 PM

the biggest redneck here: mjohnson71: This kid needs to grow up and get control of his money back. We pro athletes have great business sense.

Signed
Sean Kemp
Vince Young
Curt Schilling
Antoinne Walker
Terrell Owens
Lenny Dykstra
Deuce MacAllister

(and those are the ones I could quickly name off the top of my head)

Magic Johnson
50 Cent
Michael Jordan
John Elway
Herschel Walker
Bo Jackson


wait, what?
 
2013-03-01 04:10:17 PM

logggur: the biggest redneck here: mjohnson71: This kid needs to grow up and get control of his money back. We pro athletes have great business sense.

Signed
Sean Kemp
Vince Young
Curt Schilling
Antoinne Walker
Terrell Owens
Lenny Dykstra
Deuce MacAllister

(and those are the ones I could quickly name off the top of my head)

Magic Johnson
50 Cent
Michael Jordan
John Elway
Herschel Walker
Bo Jackson

wait, what?


encrypted-tbn2.gstatic.com
approves
 
2013-03-01 04:54:47 PM

bubbaprog: js34603: Right, yeah I'm sure that's how it went, I'm sure dad didn't just tell him he was handling it and son had no input, I'm sure he "hired" them. Maybe they even take a nice little percentage for themselves, huh? That never goes bad, as several child actors can attest.

Mychal Thompson spent 14 years in the NBA. He doesn't need his son's money.


As true as that may be, unless he's also giving Derp Jr lessons in financial management instead of shuffling all the cash somewhere safe (and after a NBA career like that, I don't doubt his intentions), then when they finally kick off, or Derp Jr decides he's had enough, the kid's going to suffocate under all that money.

See:  90% of all major lottery winners
 
2013-03-01 05:36:11 PM
I get why Mychal Thompson is doing this.  He spent a lot of years in the NBA (14 apparently), and he probably saw a lot of guys that were making bank only to have nothing in a matter of a few years.  I imagine seeing this happen over and over and over would create some hypersensitivity about financial responsibility and his kids' futures.

So, I'm not saying it's right.  I'm saying I understand it.

/Remember Mychal Thompson playing in the NBA.
//I sound old.
 
2013-03-01 10:37:33 PM
I wouldn't have nearly as much of a problem with this if the checks were made out to the guy asnd not his parents.  That's the weird part for me.

If he wants to have his parents manage his money, fine.  At least have your own paychecks made out to you.
 
2013-03-02 06:07:36 PM
Honestly, if I'm 23 and people want to call me a wuss, or sissy, for having my parents, I'd probably be more than a little annoyed.

At the same time, this is the NBA, and a lot of those kids are going top tear through their money buying crap they don't need. And at that age, many of those guys buckle into the lifestytle, thinking they need to spend they money, to show they belong, or something. They are stupid kids, just like I was at that age. These guys aren't looking at the future, they are looking at buying the latest toy.

His father, a former NBA player, knows this. I say good on the father. I'm sure the kid still gets more than enough every other week to survive.
 
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