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Pablo Torre Finds Out

How and Why Athletes (Still) Go Broke

Pablo Torre Finds Out

Pablo Torre

News, Government, Sports, Sports News

4.72.6K Ratings

🗓️ 23 July 2024

⏱️ 52 minutes

🧾️ Download transcript

Summary

From a college dorm room to an 18-car garage, there is no "psychological mindf**k" quite like becoming a millionaire overnight. But a supermajority of athletes continue to squander their compressed window of lottery-like earnings. On the 15th anniversary of his seminal story for Sports Illustrated, "How (and Why) Athletes Go Broke," Pablo gets an honest re-appraisal from wealth-management advisor Todd Burach — and brave testimony from Justin Pugh and Antoine Walker — on where stars really are just like us when it comes to financial literacy, haves and have-nots... and pre-nups. Plus: Magic Johnson's one simple rule for staying rich, a heat-check on the entourage bullsh*t meter and the French Bulldog Cold War brewing in NFL locker rooms. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Welcome to Pablo Torrey finds out. I am Pablo Torrey and today we're going to find out what this sound is.

0:06.0

Keeping up with the Jones is real. You want everyone to know you have money. You see a guy in a locker room with a certain car, you want to have a better car than him.

0:13.8

Right after this ad.

0:16.6

You're listening to Draft Kings Network. So top Yurak, welcome. This is an odd episode for me because I know a lot about you and a little at the same time.

0:40.0

So how should I be introducing you here at the top?

0:43.0

So I currently lead the sports and family office banking team at City National.

0:48.0

Been in this athlete wealth management world for better part of a decade and a half at this point

0:53.6

former college basketball player but we'll leave the Syracuse part of this out of it

0:57.5

I'm not gonna pick my nose like you guys Jim Beheim although I might be tempted to

1:02.0

but the reason why I have brought you you guys Jim Beheim, although I might be tempted to.

1:02.8

But the reason why I have brought you in today

1:05.7

is because you, and correct me if I'm wrong,

1:09.8

you're familiar with my work, Todd.

1:12.0

Yes, I've been tracking your how and why athletes go broke

1:15.5

article from Sports Illustrated in 2009 waiting for this opportunity to reach

1:19.8

out and say I think I'm the only person in the world who knows that it's the 15 year anniversary.

1:24.4

Let's talk about this.

1:25.6

This is the story that most people come up to me still to talk about.

1:30.0

It was the most read article in the history of SI.com.

1:33.0

Wow.

1:34.0

Which is all to say, not that, you know, let's check out how good my shit is.

1:37.8

It was also that here was a topic at 5,000 words that I had reported on, motives and causes and stories about

...

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