Category: Boxing (Page 7 of 10)

Top 10 worst athletes to ask for financial advice

With tax day quickly approaching, Real Clear Sports.com complied a list of the top 10 worst athletes to ask for financial advice.

Here is the top 3:

3. Michael Vick
So, how did Vick go from one of the highest paid athletes to owing millions? To start, there’s the entourage. Vick was spending about $300,000 a month to support friends and family. But the biggest factor was who was in control of his money. Vick entrusted his money to a woman who is banned from working with any firm that trades on the NYSE because she bilked two old women out of $150K and a man who’s been accused of defrauding church members. His finances were such a mess that the bankruptcy judge appointed a trustee to help him out.

Vick owes over a million dollars in back taxes and it was recently discovered that he took funds from the pension plans of some of his employees. But if you are beginning to feel sorry for Vick, (“Then you’re not a dog lover”!) don’t. To pay off some of the debt, Vick will be selling three of his SIX homes. That’s less than one home per season. Do you really expect Vick to summer in Virginia? Do you?

2. Latrell Sprewell
In August of 2007, a federal marshal seized his $1.5 million yacht after Sprewell had failed to pay his mortgage on the boat. The yacht, with the classy name, Milwaukee’s Best, was auctioned in early 2008.

Oh well, at least Sprewell would still have his home in River Hills, Wisconsin. That is, until it was foreclosed on in May of last year. So, let’s see, he lost his yacht and his house. It can’t get much worse. Oh, and now Wisconsin has filed a lawsuit for unpaid taxes. Hopefull Sprewell isn’t expecting a big refund this year.

1. Mike Tyson
In 2003, he filed for bankruptcy. His debt reached over $27 million, about half of which was to the IRS. Maybe he shouldn’t have bought the two Bengal tigers for $140,000, for which he also had to pay a trainer $125,000 a year. Although, that’s just a small drop in the bucket. He could’ve cut back on his motor vehicles, on which he spent about $4.5 million. But perhaps the most inane purchase? How about a bathtub for his first wife, Robin Givens, that cost $2 million dollars.

Tyson could’ve gotten his finances in order had he won the $100 million lawsuit against Don King (he was suing his former boxing promoter for cheating him out of millions in promotions), but the parties reached a settlement of $14 million, of which Tyson saw none. All of the money went to paying down his debt.

When you figure that most of these athletes never seek out sound legal and financial advice, it’s easy to see how they blow through wads of money in a very short period of time. They just think that money will always come in and they don’t have to worry about anything long-term. How Vick blew through all his money is still beyond me.

HBO presents the Thrilla in Manilla

Tomorrow night (April 11 at 8 pm ET/10pm PT), HBO will premiere the Thrilla in Manilla, a documentary covering the third and final fight between Muhammad Ali and Joe Frazier. The documentary “tells the story of two great fighters forever linked by three epic bouts, and looks at their final fight, considered the most brutal, from Frazier’s perspective for the first time.” Check out the trailer:


Martin Johnson reviews the film.

Thrilla in Manila tells the story with alarming detail and hilarious commentary. The film is much less observational than Leon Gast’s superb When We Were Kings which captured the scene in Kinshasa for the Ali-Foreman fight in 1974. Instead, Dower arrays a cast of talking heads between them so that a dialogue emerges from the commentary. Ali’s cornerman, Ferdie Pacheco, is almost as brash and outspoken as his fighter was. Imelda Marcos, former first lady of the Philippines, is a charming curiosity. Frazier’s son, Marvis, is calm and insightful. “I like to have a Robert Altmanesque ensemble,” said Dower of his motley crew of commentators.

The film will rub hard-core fans of Ali the wrong way, but Dower says it wasn’t his intent to tear down the great heavyweight. “I came to this with no agenda about Muhammad Ali at all,” he said at a post-screening press conference in New York this week. “It’s just that in telling this story you keep butting into the myth of Ali.”

Ali takes a few on the chin, but he has only himself to blame for some of it. Dower and his crew unearthed footage of Ali boasting about his agreements with the Ku Klux Klan on camera from the early ‘70s. And during his stay in Manila, he is caught womanizing.

However, Thrilla in Manila is far more effective as a portrait than a rebuttal or a diatribe. Frazier is the quiet focus of the film. He is shown in his gym, and he’s coaxed into watching the third fight for the first time. “I lost the fight. What would I have learned from watching it again?” he asked without the slightest hint of wistfulness.

Frazier, both in the movie and in person, seems like a man stuck in the wrong era. His humility and background were easily confused in the ‘70s for subservience, a time when outspokenness was the norm. He wasn’t media savvy in a moment when his opponent was charismatic and savagely sarcastic.

If you like boxing films and documentaries, this one is definitely worth checking out. Boxing isn’t as big now as it was in the glory days of the 20th century, but it’s still big business, particularly with sports betting becoming accepted in more states. Now you can at least find a no deposit bonus opportunity and enjoy betting on fights.

Mike Tyson coming out with memoir book

If it wasn’t a good week already with the news of Darryl Strawberry coming out with a new book, apparently Mike Tyson is getting in on the act, too!

Mike TysonFormer boxer MIKE TYSON is to publish a tell-all book about his eventful life.
The ex-heavyweight champ has written an autobiography detailing his time in the ring and the years following his departure from the sport.

The tome is also said to include controversial moments from his private life including his three year jail sentence for rape in the 1990s.

Tyson reportedly began writing the manuscript while he was in prison, asking his fellow inmates for advice, according to New York Post gossip column Page Six.

The publication quotes Tyson as saying, “Me and my cellmate would read to each other at night. One night I would read out loud to him, the next night he would read out loud to me. And we would do that back and forth until the book was completed.”

I wish I could take credit for this, but I can’t. Here’s a headline on Fark.com about this story:

A must read: Tyson pens a tell-all. Book starts out powerful and amazing, gets unfocused and boring about halfway through, then scary and weird, ultimately fading into Bolivian

That’s freaking great.

Correcting ESPN The Mag, Part 1

Regular readers might be familiar with my occasional posts — “Correcting Bill Simmons” and “Correcting Rick Reilly” — where I try to help out my better-paid, less-informed counterparts by pointing out when/where they’re wrong. This time, I’m going to tackle the December 29th, 2008 issue of ESPN The Mag as a whole. I know I’m going to hear some guy at the sports bar regurgitate this “analysis” as his own opinion and I won’t have the wherewithal or the energy to call him on it, so I might as well do it here.

Let’s start with everyone’s favorite blowhard — and I doubt he’d take that as an insult given his commentary stylings — Stephen A. Smith. In his “Up Front” column, he criticizes Oscar De La Hoya for not knowing when to give it up.

Help, someone! Pretty Please!

It would be really nice if someone could muster some plausible explanation as to why a fighter like Oscar De La Hoya, beyond his prime for quite a while before the Manny Pacquiao bout, still chose to step into the ring and get his brains beat out. The mismatch was so obvious that Oscar’s wife, Millie, was screaming for him to quit before he had the common sense to do it himself.

It’s really easy to knock De La Hoya after the match is over when it’s clear that he shouldn’t have fought the fight. But one quick look at the pre-fight odds (-165 Hoya / +135 Pacquiao) reveals that this fight fooled a LOT of people, not just the Golden Boy. According to the betting public, De La Hoya was the clear favorite in the fight, so why would Oscar think that he was about to step into a beatdown? The betting public clearly doesn’t know everything, but it’s a pretty good gauge of public opinion and if the public is fooled, why would De La Hoya — who has an ego of a big-time fighter — know any better?

If Smith writes this column before the fight, I’d give him props. But this is classic kick-’em-while-they’re-down writing.

Let’s move on to Mike & Mike (Golic & Greenberg) who answer “The Big Question” — if the best players in college sports don’t make any noise in the pros, what’s their legacy?

GOLIC: If you think about it, we have two players this year who could end their college days as two of the all-time greats in their sports: Tyler Hansbrough and Tim Tebow. But neither one of them appears to have the type of skills that would make them excel as pros.
GREENY: It’s probably the best illustration we’ll ever see of the difference in athleticism from one level to the next. In college, guys can still dominate even if they’re not athletically superior to the competition. I don’t care how hard you work; if you’re not freakishly gifted physically, you are not going to be a star in the NFL or NBA.

I don’t have any idea if Tim Tebow can make it as a QB in the NFL, so I’ll let Anthony Stalter field that question. As for Tyler Hansbrough, I think he’s going to be a productive power forward at the NBA level. Whether or not he’s going to be a “star” depends on your definition of the word.

Is he going to turn into another Chris Bosh or Amare Stoudemire? Probably not. But if a team can land a starter in the late lottery, that’s considered a success. I see Hansbrough as a player who will focus on defense and rebounding. In fact, he could be a Dennis Rodman-type who can hit a 15-foot jumper. The Worm had the innate ability to rebound, and while Hansbrough doesn’t quite have his nose for the ball, he does have the work ethic, and then some. If he plays 30 minutes a game, I see him averaging 10 rebounds at a minimum. He has really improved his face up game, so if defenders help off of him, he’ll be able to make them pay. He should be especially productive in the regular season — while his opponents are loafing through three-quarters of the game, he and his non-stop motor will be running around like a kid on a sugar high. Work ethic is something that is often overlooked when it comes to the NBA draft and I think Hansbrough is a guy that has the drive to make himself the best player he can be. Other guys might have higher ceilings, but it doesn’t matter if they don’t have the heart to reach them.

Mike & Mike also discussed the upside/downside of a college football playoff…

Golic: As the bowl season ramps up, I cannot stress enough the need for a college football playoff. March Madness is the best tourney of the year, and a deep run by a Cinderella is one of the best parts of it. In the BCS, teams like Boise State and Utah will never play in the championship game.

Greeny: Cinderellas are all well and good, but they should know their place. The regular season is the one thing college football still gets right. A Cinderella team winning it all in a playoff would put that at risk.

Was the editor drunk on egg nog when he reviewed this? Golic’s point is clear, but what is Greeny talking about? Forget about the fact that he seems to be defending the current system — his response is nonsensical. First, he says that Cinderellas “should know their place.” Huh? An undefeated team like Utah or Boise St. should just shrug their shoulders and admit that they don’t belong because they only beat one ranked team all year? Who’s to say that they don’t have the talent and execution to play with the big boys? What’s worse, Greeny just contradicted his point from the previous topic — that, at the college level, a player can still dominate without being athletically superior to the competition.

He goes on to claim that a Cinderella winning it all in a playoff would put college football’s regular season at risk. I don’t have any idea what this means, so I’m not even going to try to speculate. I will say this — whoever wins a playoff deserves to be the champ, and I don’t see how a team like Utah winning three playoff games against the best competition in the country can hurt college football’s regular season.

Lastly — and this is a relatively minor point but it hits close to home because I am (admittedly) a fan of the Milwaukee Bucks — in the “NBA Insider” section, under the article heading “Contract Killers,” Chris Broussard lists a number of guys that are not living up to the contracts they signed this offseason, beginning with Andre Iguodala and Elton Brand. He goes on to say this…

Chicago locked up Luol Deng for $71 million; he’s scoring 13.9 ppg, Baron Davis got $65M from the Clips; he’s shooting 39%. Andrew Bogut ($60M) and Emeka Okafor ($72M) are checking in below their career scoring averages.

Granted, Luol Deng’s FG% is down (48% last year to 44% this year), Baron Davis is not shooting well (actually 37% now, but he’s a career 41% shooter so no big surprise there) and Okafor’s scoring numbers are down (though his FG% is up 5.5% and his PER is the second highest of his career). But why does Broussard have to bag on Bogut?

Sure, he’s averaging 11.5 ppg, down from 14.3 last season. But, in case Broussard hadn’t noticed, the Bucks added Richard Jefferson (and his 14.4 shots per game), so it’s no surprise to see that Bogut’s attempts are down almost three shots a game. His rebounds (10.7) and FG% (55.3%) are at career-high levels even though he missed three games with a knee injury in late November. And it’s no coincidence that the Bucks lost those three games.

Considering that his deal ($12 million per year) was the most affordable on that list of bad contracts, the guy doesn’t deserve to be listed amongst the other “contract killers.”

2008 Year-End Sports Review: What We Already Knew

While every year has its own host of surprises, there are always those stories that simply fit the trend. Sure, it can get repetitive, but if we don’t look back at history aren’t we only doomed to repeat it? Every year has its fair share of stories that fell into this category, and 2008 was no different.

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