Ricky Williams to sell his Heisman Trophy for $500K

[JIBBBY]

I guess someone needs money and is low on weed. ..

That's really too bad though, that's something you can't replace and shouldn't sell..

https://sports.yahoo.com/ricky-williams-heisman-trophy-auction-022950623.html

[jjgold]

Damn

[Sam Odom]

Ricky's contracts were not the best by a longshot

But...

10 seasons = $24,349,000 in Total

[WvGambler]

Looks like hes having a hard time replacing money also. Money is more useful.

[JIBBBY]

Ricky's contracts were not the best by a longshot

But...

10 seasons = $24,349,000 in Total

Still hard to believe you can blow thru 20 million in this short of time. Ricky lived in a tent rent free smoking weed for many years also..

Just blows my mind NFL players don't plan and invest properly for their future after football.. They get a pension now too.. More times then not these athletes end up broke and then start selling off their playing stuff. Looks like Ricky is guilty of that..

[Sam Odom]

Several SBR Posters could make $2.5M a yr for 10 yrs then go broke

[WvGambler]

Its not Ricky selling it....he did years ago ans probably for a fraction.

[Sam Odom]

Ricky lived in a tent rent free smoking weed for many years also..

Yeah... Sammy now remembers that

[JIBBBY]

Why would anyone want to buy that? They didn't earn it, doesn't have their name on it... Weird rich people in this world I guess...

[MinnesotaFats]

Rickey didnt play out his contract did he? I thought he quit w a few years left to smoke.

Those numbers don't mean much after agent and taxes.

Agent 10 points, fed 35 points, state 10 points that leave 9mm.

Buy a mansion for 2mm leaves 7mm

Property taxes 25k/ yr 20 years leaves 6.5mm over 20 years....that's $350k/ year

I make more than that.....and who knows if Rickey owed margins on stocks back in 2015 Aug dip....I had to go out of pocket 10 points in 1 month alone

People need to understand how oppressive the government is with taxation....when a net worth of $5mm cant get you thru life because govt taxes it and govt controls the interest you can receive on it, we have a problem.

[JIBBBY]

Ricky seems like a nice guy, he has a football life episode or 30 for 30 that I saw.. He's into yoga now and was always an earthy soul of sorts.. Seems very nice and peaceful..

He said he never really liked playing football.. He came back because he needed the money if I remember correctly.. I was a fan of his though..

RUN RICKY RUN!! He was a good running back even when he came back to the fins at his advanced age.

[WvGambler]

Why would anyone want to buy that? They didn't earn it, doesn't have their name on it... Weird rich people in this world I guess...

Because now they’re going to sell it for half a million dollars. They probably got it off Ricky for 5-10k.

[JIBBBY]

Because now they’re going to sell it for half a million dollars. They probably got it off Ricky for 5-10k.

Well that makes sense if you buy it for an investment and it goes up in value and to resell down the road for profit.

Gotcha if that's the case...

[Sam Odom]

Living members of the Heisman Club should buy it... Save it for Ricky

[Johnnythunder]

No ones giving this moron 500k....do you realize the kinds of mind blowing collectibles you can get for even 50k?

[milwaukee mike]

Rickey didnt play out his contract did he? I thought he quit w a few years left to smoke.

Those numbers don't mean much after agent and taxes.

Agent 10 points, fed 35 points, state 10 points that leave 9mm.

Buy a mansion for 2mm leaves 7mm

Property taxes 25k/ yr 20 years leaves 6.5mm over 20 years....that's $350k/ year

I make more than that.....and who knows if Rickey owed margins on stocks back in 2015 Aug dip....I had to go out of pocket 10 points in 1 month alone

People need to understand how oppressive the government is with taxation....when a net worth of $5mm cant get you thru life because govt taxes it and govt controls the interest you can receive on it, we have a problem.

you make more than 350k/year after income taxes? and why in the world would he pay that much in taxes? florida has no state income tax, so more than half of his earnings were tax free, he certainly wouldn't pay taxes on the agent fee portion... so let's say 10% agent fee, then 30% federal and 3% state, that leaves about $14 million NOT INCLUDING THE $5-10 million he made in endorsements.

just the EARNINGS on 14 million (assuming 3%) should be over $400k/year

[cincinnatikid513]

[JIBBBY]

you make more than 350k/year after income taxes? and why in the world would he pay that much in taxes? florida has no state income tax, so more than half of his earnings were tax free, he certainly wouldn't pay taxes on the agent fee portion... so let's say 10% agent fee, then 30% federal and 3% state, that leaves about $14 million NOT INCLUDING THE $5-10 million he made in endorsements.

just the EARNINGS on 14 million (assuming 3%) should be over $400k/year

Yup, no reason you should piss thru that much money in your life time, unless you are buying mansions, exotic cars, bling bling gold and diamond jewelry and knocking up baby moma's and paying child support and alimony..

If you're a baller, you should hire a financial planner if you don't have a head and smarts for investing. Can buy rental properties, stocks, etc., you can find write offs too. You get taxed through the nose but you still can find ways to invest your fortune to set you up for later on in life.. I'm living proof of that. I don't have work today as I just own commercial property, sit back and wait for those rent checks to come in the mail every month. It's a beautiful thing..

I gotta move to Florida one of these days, paying California State Taxes every year are really beginning to suck where I live. Property taxes are high here as well..

[JIBBBY]

Remember these guys? They all made a fortune playing sports and all went broke..

Allen Iverson, Antoine Walker, John Daly, Mike Tyson, Boris Becker.. List goes on.. Pathetic and sad..

Boris Becker made 126 million playing tennis and with endorsements and went totally bust today!!! Blows my mind how that happens?

https://www.thestreet.com/retirement/five-athletes-who-went-broke-after-retirement-14551395

[jjgold]

Texas Should buy it back for a while

[JIBBBY]

Texas Should buy it back for a while

Agreed, keep the trophy on campus behind some bullet proof glass for all students to see and appreciate.. That would be the second best place for that trophy to sit besides in Ricky's home..

[Sam Odom]

[Jayvegas420]

Didn't he lose a settlement against the Dolphins, before he travelled to Toronto. I thought he had to pay them back Millions, maybe that's where a lot of it went?

[sweethook]

proof there is a sucker born every min. anyone pay over $5 for a paper weight is a crazy sucker

[thomorino]

you make more than 350k/year after income taxes? and why in the world would he pay that much in taxes? florida has no state income tax, so more than half of his earnings were tax free, he certainly wouldn't pay taxes on the agent fee portion... so let's say 10% agent fee, then 30% federal and 3% state, that leaves about $14 million NOT INCLUDING THE $5-10 million he made in endorsements.

just the EARNINGS on 14 million (assuming 3%) should be over $400k/year

He had to pay back much of his signing bonus because he didn't finish his last contract dumb shit.

[JIBBBY]

proof there is a sucker born every min. anyone pay over $5 for a paper weight is a crazy sucker

A big bronze paper weight. Pretty much what it is.. lol..

[jjgold]

Yes it’s pennies to Texas

Agreed, keep the trophy on campus behind some bullet proof glass for all students to see and appreciate.. That would be the second best place for that trophy to sit besides in Ricky's home..

[jtoler]

where's he gonna get 500k for that

[MinnesotaFats]

you make more than 350k/year after income taxes? and why in the world would he pay that much in taxes? florida has no state income tax, so more than half of his earnings were tax free, he certainly wouldn't pay taxes on the agent fee portion... so let's say 10% agent fee, then 30% federal and 3% state, that leaves about $14 million NOT INCLUDING THE $5-10 million he made in endorsements.

just the EARNINGS on 14 million (assuming 3%) should be over $400k/year

Players get taxed in each State they play a game in so if he plays 5 road games in Boston, NY, NJ then 1/2 his income is getting those state taxes too, onto the 35% Fed rate at the time. Louisiana has a State tax too for that part his career.

As for me, I have an S Corp based in MN so a portion of that income is taxed on MN scale.

I'm just guessing Rickey wasn't buying bonds and I dont know for sure what past rates were but if you can get 2% on a 10 year you're doing well.

I only threw out the fixed overhead of living....but also consider his vehicles, his food, his travel. It wouldn't be surprising if he was spending $25k/ mo in expenses....over 20 years that's another $4mm.

With nothing coming in to speak of....and a dwindling nest egg I'd say it falls more online w my figures and makes sense. I doubt he's broke, but maybe on margin w what's left....if he can get some cash for a trophy he doesn't value then so be it.

But $500k, not happening. $25k maybe, more like $10k my guess.

[milwaukee mike]

He had to pay back much of his signing bonus because he didn't finish his last contract dumb shit.

can we just please have ONE DECENT THREAD or discussion here without you crapping it up by swearing at everyone?

a little maturity would go a long way

[RockBottom]

No ones giving this moron 500k....do you realize the kinds of mind blowing collectibles you can get for even 50k?

Don’t ever underestimate the zealous Texas fans.

[milwaukee mike]

Players get taxed in each State they play a game in so if he plays 5 road games in Boston, NY, NJ then 1/2 his income is getting those state taxes too, onto the 35% Fed rate at the time. Louisiana has a State tax too for that part his career.

As for me, I have an S Corp based in MN so a portion of that income is taxed on MN scale.

I'm just guessing Rickey wasn't buying bonds and I dont know for sure what past rates were but if you can get 2% on a 10 year you're doing well.

I only threw out the fixed overhead of living....but also consider his vehicles, his food, his travel. It wouldn't be surprising if he was spending $25k/ mo in expenses....over 20 years that's another $4mm.

With nothing coming in to speak of....and a dwindling nest egg I'd say it falls more online w my figures and makes sense. I doubt he's broke, but maybe on margin w what's left....if he can get some cash for a trophy he doesn't value then so be it.

But $500k, not happening. $25k maybe, more like $10k my guess.

absolutely, that's why i said a little less than half would be subject to state taxes, and keep in mind up until this new tax law, those state taxes paid were fully deductible on the federal.

i'm sure he could get quite broke because as you said he wasn't really investing/saving like he should've!

[milwaukee mike]

on ricky's first return to the dolphins, he was paying for 3 kids with 3 separate baby mommas, did that number get higher?

probably isn't a lot of fun giving money to women you might not like, for kids you didn't want

[MinnesotaFats]

on ricky's first return to the dolphins, he was paying for 3 kids with 3 separate baby mommas, did that number get higher?

probably isn't a lot of fun giving money to women you might not like, for kids you didn't want

Anyone else have a problem with the rate these athletes have to pay for child support.

It should be capped at some point by law.

I know these guys arent bright but some of them paying $50,000/ mo per kid....crazy

[G Anon Dropout]

The Access Consciousness cult Ricky is in believes you can manifest money and wealth by just thinking about it and "receiving" it. I guess not.