Game Thread And here I always thought Drew Brees was a pretty smart guy

divits

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https://www.yahoo.com/sports/drew-brees-filed-multi-million-170351689.html

"Via TMZ, Brees has sued Vahid Moradi of CJ Charles Jewelry in San Diego. Brees claims that he has purchased roughly $15 million worth of jewelry, and that it was independently appraised at being worth $9 million less than the price Brees paid for the items.

One of the items — a diamond ring for which Brees paid $8.18 million — allegedly appraised for only $3.75 million."



First of all, $15 million on jewelry?!?! Does he think he's a rapper or something? And anyone who buys jewelry expecting it to appreciate or even hold the value you paid for it is an ignoramus.
 

Omar's Coming Yo!

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Athlete who takes hits to the head loses money due to bad decisions. More at 11. He'll be broke like the majority of athletes 10 years after he's done. Smh.
 

diehardg8r

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Athlete who takes hits to the head loses money due to bad decisions. More at 11. He'll be broke like the majority of athletes 10 years after he's done. Smh.
Athletes have more money than they would if they weren't playing sports, loses money due to bad decisions.

I'd venture to say the Aikman took way more hits to the head than Brees and he's worth millions. Discuss
 

Alumni Guy

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If you drop $15MM on jewelry, wouldn't you get it appraised 1st. At least for insurance purposes.

If he paid $7MM more than it was worth, that's on him. Freedom to contract, freedom to be a moron.
 

GatorInGeorgia

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https://www.yahoo.com/sports/drew-brees-filed-multi-million-170351689.html

"Via TMZ, Brees has sued Vahid Moradi of CJ Charles Jewelry in San Diego. Brees claims that he has purchased roughly $15 million worth of jewelry, and that it was independently appraised at being worth $9 million less than the price Brees paid for the items.

One of the items — a diamond ring for which Brees paid $8.18 million — allegedly appraised for only $3.75 million."



First of all, $15 million on jewelry?!?! Does he think he's a rapper or something? And anyone who buys jewelry expecting it to appreciate or even hold the value you paid for it is an ignoramus.

Article also referenced claim he is having “cash flow problems”. I guess I shouldn’t be surprised but WTF?!
 

TheDouglas78

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Article also referenced claim he is having “cash flow problems”. I guess I shouldn’t be surprised but WTF?!

he was going to retire after his last contract, just signed a new one. Could be a reason why.
 

oxrageous

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He just signed a 2-year, $50 million extension, and took less money in New Orleans than he could have with another team. I find it hard to believe he's strapped.
 

GatorInGeorgia

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He just signed a 2-year, $50 million extension, and took less money in New Orleans than he could have with another team. I find it hard to believe he's strapped.

I do, too, but then again, $15 million dollars, AFTER TAX, is a lot of money to blow on jewelry. I think Brees has about $180m in career earnings. If he netted half that after taxes and agent fees and he has pissed away money on other frivolous items I can see how it could add up pretty quickly and crimp the cash flow.
 

Jack o' Diamonds

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After publicly airing the fact that he has that much jewelry, hope he is smart enough to keep a safe deposit box...
 

oxrageous

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“From 2010 to 2016, Moradi advised [my wife and I] to allocate funds into an alternative asset class of investment grade diamonds and told us that he would use his connections and expertise to acquire them on our behalf at or below market value,” Brees said, via TMZ. “In an effort to diversify our investment portfolio, we trusted Moradi and invested. Moradi assured us he was being compensated by the sellers for any investment grade diamonds he acquired on our behalf.

“In the end it was all a scam. After thinking long and hard, Brittany and I decided to take this lawsuit on in part because we fear we are not the only ones Moradi has misled and defrauded.”

http://profootballtalk.nbcsports.co...-says-san-diego-jeweler-pulled-a-scam-on-him/
 

GatorInGeorgia

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“From 2010 to 2016, Moradi advised [my wife and I] to allocate funds into an alternative asset class of investment grade diamonds and told us that he would use his connections and expertise to acquire them on our behalf at or below market value,” Brees said, via TMZ. “In an effort to diversify our investment portfolio, we trusted Moradi and invested. Moradi assured us he was being compensated by the sellers for any investment grade diamonds he acquired on our behalf.

“In the end it was all a scam. After thinking long and hard, Brittany and I decided to take this lawsuit on in part because we fear we are not the only ones Moradi has misled and defrauded.”

http://profootballtalk.nbcsports.co...-says-san-diego-jeweler-pulled-a-scam-on-him/

Ox, it’s obvious to me that Brees is the perfect sucker, er, candidate for some life insurance. Now that you’re in the insurance biz, you should solicit him to buy excessive amounts of VUL or whole life policies. Put him with a junk rated carrier, you can probably get commissions of 120% of first year premiums. You’ll be very rich very quickly. :lmao2:
 

aka

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Ox is now in insurance?? :eek3: :backout:
 

T REX

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If you drop $15MM on jewelry, wouldn't you get it appraised 1st. At least for insurance purposes.

If he paid $7MM more than it was worth, that's on him. Freedom to contract, freedom to be a moron.

Yes. If it's a family friend or a referral...hell no without confirmation. Mrs Rex's family has a "family jeweler in St Thomas"...uhhhh...no thank you. I have much shadier guys here in Tampa. LOL.
 

soflagator

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After publicly airing the fact that he has that much jewelry, hope he is smart enough to keep a safe deposit box...

Yeah but apparently it’s a bunch of J colored, SI2 stuff in12 carat gold settings.

If I’m going to the effort of robbing someone, I’m making sure the score is actually worth it. Just how I was raised.
 

Omar's Coming Yo!

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Athletes have more money than they would if they weren't playing sports, loses money due to bad decisions.

I'd venture to say the Aikman took way more hits to the head than Brees and he's worth millions. Discuss
Hes the exception to the rule:

According to a 2009 Sports Illustratedarticle, 78% of National Football League(NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport.[1] Originally the statement "60% of NBA players go bankrupt within five years after leaving their sport" was released by a representative of the NBA Players' Association in 2008 [2][3] A Fortunemagazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two years is a much smaller 1.9%, climbing to 15.7% after 12 years.[4]
https://en.m.wikipedia.org/wiki/Personal_finances_of_professional_American_athletes
 

diehardg8r

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Hes the exception to the rule:

According to a 2009 Sports Illustratedarticle, 78% of National Football League(NFL) players are either bankrupt or are under financial stress within two years of retirement and an estimated 60% of National Basketball Association (NBA) players go bankrupt within five years after leaving their sport.[1] Originally the statement "60% of NBA players go bankrupt within five years after leaving their sport" was released by a representative of the NBA Players' Association in 2008 [2][3] A Fortunemagazine article states, however, that a working paper from the National Bureau of Economic Research found that the percentage of NFL players who go bankrupt after two years is a much smaller 1.9%, climbing to 15.7% after 12 years.[4]
https://en.m.wikipedia.org/wiki/Personal_finances_of_professional_American_athletes
So.....the research is inconclusive as to how long or what pct of NFL players are bankrupt after retirement and no correlation with concussions?
 

MJMGator

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If you drop $15MM on jewelry, wouldn't you get it appraised 1st. At least for insurance purposes.

If he paid $7MM more than it was worth, that's on him. Freedom to contract, freedom to be a moron.
Yeah, I always figured you confirmed the value of something BEFORE you made the purchase. :lol:
 

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