James Toney weighs in at 248

[captainanddew]

It's sad, isn't it? These boxers are given all this money to beat the crap out of each other in the ring, but they're never given the knowledge on how to maintain their finances. That's what ends up getting the lot of them. That's one of the things I always liked about Marciano. He held onto his money, and had enough to live the rest of his life very comfortably.

They need some version of what Allen Iverson supposedly had. A financial person had set up an account (probably a trust), whereby Iverson gets 1 million a year till age 55 and he can't touch the principal. There is 32 million in it. Iverson made a ton of money in his career between contracts, endorsements, etc..., and likely one of his financial managers talked with Iverson and they set aside large amounts so that he would never be able to go broke.

Bobby Bonilla was with the NY Mets for the 2nd time in 2000. The Mets bought out the final year of his contract (5.9 million). Bonilla willingly agreed to defer it. starting on July 1, 2011, Bobby Bonilla will remain on the franchise's payroll for 25 years, collecting an annual salary of $1,193,248.20.

That is a beautiful deal.

All athletes need financial managers, accountants, lawyers, etc., that can be trusted. And athletes need to spend below their means. Buy a decent house, a car or two, nice but reasonable stuff for the house, and then save your damn money!!!! No one needs a 2 million dollar house, 8 cars, etc.... If you are going to live that large, you better have made the kind of money De la hoya, Mayweather, etc... made.

[Slim the BoxingManiac]

It's sad, isn't it? These boxers are given all this money to beat the crap out of each other in the ring, but they're never given the knowledge on how to maintain their finances. That's what ends up getting the lot of them. That's one of the things I always liked about Marciano. He held onto his money, and had enough to live the rest of his life very comfortably.

It seems Toney owes a lot. Considering what he has earned over the years, he kind of deserves what he gets. That is a really cruel thing to say though. People need to be responsible for themselves and Toney seems to have fucked up.

Boxer's aren't known for being the brightest, usually. I guess I'm sort of sympathetic in that aspect. But you're right. People do need to be self sufficient. If one of us goes down the drain with our finances, there's not a lot of people that'll gladly step up to the table to help us out.

Yes.... usually. There ARE some exceptions nowadays, however. Mayweather, for all his shenanigans, is no fool. De La Hoya is well-spoken and pretty smart. Cotto learned how to speak English just so he could do his own interviews without an interpreter. And there are many more exceptions.

James Toney, however, has always had the IQ of a rock, if not the physique to match.

I despise Mayweather. But credit where credit is due, he's been doing very well for himself. Also, Cotto isn't the guy to let himself go broke after all those dollars signs earned. At least, I don't think he would be.

It's sad, isn't it? These boxers are given all this money to beat the crap out of each other in the ring, but they're never given the knowledge on how to maintain their finances. That's what ends up getting the lot of them. That's one of the things I always liked about Marciano. He held onto his money, and had enough to live the rest of his life very comfortably.

They need some version of what Allen Iverson supposedly had. A financial person had set up an account (probably a trust), whereby Iverson gets 1 million a year till age 55 and he can't touch the principal. There is 32 million in it. Iverson made a ton of money in his career between contracts, endorsements, etc..., and likely one of his financial managers talked with Iverson and they set aside large amounts so that he would never be able to go broke.

Bobby Bonilla was with the NY Mets for the 2nd time in 2000. The Mets bought out the final year of his contract (5.9 million). Bonilla willingly agreed to defer it. starting on July 1, 2011, Bobby Bonilla will remain on the franchise's payroll for 25 years, collecting an annual salary of $1,193,248.20.

That is a beautiful deal.

All athletes need financial managers, accountants, lawyers, etc., that can be trusted. And athletes need to spend below their means. Buy a decent house, a car or two, nice but reasonable stuff for the house, and then save your damn money!!!! No one needs a 2 million dollar house, 8 cars, etc.... If you are going to live that large, you better have made the kind of money De la hoya, Mayweather, etc... made.

Absolutely right. If I made it big in boxing, and made more than a million dollars, I'd make damn sure that I would never be broke again. Saving is a must at that point.