- Feb 12, 2000
- 10,652
- 39
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Truly betting on an athlete?
- Thread starter dawgball
- Start date
- Feb 12, 2000
- 10,652
- 39
- 48
- 51
Well, it could go either way.
1. He has to make in to the bigs.
2. He would have to play a little more than 3 years at league minimum ($390K) for you to break even.
If he was able to put the $50K to work for himself immediately in an investment account, it probably would not be a bad deal for him to get the extra security.
My buddy, Jace Bugg, had a similar deal with a guy that backed him on the Nationwide Tour.
The investor paid him a salary of roughly $120K. He had to pay for tournament fees and travel out of this as well.
Jace repaid the guy 60% of all of his winnings each year until the $120K was recouped. Once it was fully paid back, the guy got a 30% cut of subsequent winnings for the remainder of the year.
Things were going quite well until Jace was diagnosed with Leukemia. He was second on the Nationwide money list and played in the PGA Bellsouth Open.
1. He has to make in to the bigs.
2. He would have to play a little more than 3 years at league minimum ($390K) for you to break even.
If he was able to put the $50K to work for himself immediately in an investment account, it probably would not be a bad deal for him to get the extra security.
My buddy, Jace Bugg, had a similar deal with a guy that backed him on the Nationwide Tour.
The investor paid him a salary of roughly $120K. He had to pay for tournament fees and travel out of this as well.
Jace repaid the guy 60% of all of his winnings each year until the $120K was recouped. Once it was fully paid back, the guy got a 30% cut of subsequent winnings for the remainder of the year.
Things were going quite well until Jace was diagnosed with Leukemia. He was second on the Nationwide money list and played in the PGA Bellsouth Open.
