​

Financial Samurai

Slicing Through Money's Mysteries

  • About
  • Invest In Real Estate
  • Top Financial Products
    • Free Wealth Management
    • Negotiate A Severance
  • Buy This, Not That (Bestseller)

Forgoing A $50 Million Fortune For The Love of Football!?!

Updated: 02/04/2021 by Financial Samurai 5 Comments

For a guy who doesn’t work anymore, my favorite part of the year begins soon. In just a few moments, college football starts and many a Saturday will be wasted with guys and some girls zoned in front of their TVs or at their favorite bars rooting like crazies!

Surprise, surprise, the Florida Gators are the most favored #1 pre-season pick in history due to the return of Tim Tebow and an enormous core of returning starters.  You’d think that winning the Heisman and two National Championships are good enough, not to mention the millions waiting, but not for Timmy. Rounding out the Top 10 include:  #2 Texas, #3 Oklahoma, #4 Southern California, #5 Alabama, #6 Ohio State, #7 Virginia Tech,  Mississippi, #9 Penn State and Oklahoma State also tied at #9.

It’s good to see the Pac 10 get SOME love, with California coming in at #12, Oregon at #16, and Oregon State scratching in at #25 or #26.  After all, the Pac 10 conference is the only one to boast an undefeated 5-0 bowl record in 2008-09.  This compares favorably with the ACC’s record of 4-6, MAC at 0-5, and The Big 10 at 1-7!  But none of the experts care. The Pac 10 will always be underrated because the weather is too nice out here.

Let’s forget the ranking injustices for now, and focus on the monetary aspect at hand!

MONEY MONEY MONAY, MONAAAY!

College football is big business, and individual stars entering the NFL means financial security for life.  When both Sam Bradford of Oklahoma and Tim Tebow of Florida decided to forgo the NFL to play another year of college football, what did they forgo financially?  My estimate is roughly $12 million a year for 5 years!  

The New York Jets signed USC’s Mark Sanchez to a $28 million gaurantee and up to $60 million with incentives for 5 years.  Meanwhile, the #1 overall pick from Georgia, Matthew Stafford signed a 6-year contract worth up to $78 million, with $41.7 million in guarantees!

Despite USC’s head coach being infuriated for Mark leaving after his sophomore year, Mark seized an opportunity due to low QB draft competition and took it.  Bravo Mark because if Tim and Sam were in it, you’d be making at least 20% less!  On the flip side, what are you thinking Tim Tebow?!  

You’ve already got two national championships, and a Heisman, why on earth would you risk $30-50 million over the next 5 years by playing one more year of college football?  One wrong pivot, or one head first bull rush into your knee and SNAP, your career is over and off to being Florida’s QB coach you go.

Tim & Friend

WHY STAY TIM?

The easiest theory I have for Tim staying is that Florida brainwashed him. “Stay in school Timmy.  We love you.  A degree is important, and you can’t go through life without one.  We are family Timmy.  We need you.  If you come back, we will dominate again.  Do it for honor, and for the love of the game Timmy.  If you stay, you’ll make much more money!”

If Urban Meyers (coach) and the Florida community really loved him, they would tell it to him straight and let him go.  Yes, we all know that alumni donations and booster support is vital to maintaining a top college sports program, but come on guys, it’s not like there aren’t thousands of other kids dying to play for Florida or Oklahoma!  In this case, Florida and Oklahoma wins, and USC loses.

Imagine this scenario

North Korean Dictator Kim Jung Il says you can have a guaranteed $50 million if you leave his country now and never show the world the pictures you took of his impoverished country.  “Gimme those negatives boy!”

Kim Jung Il also says you can have $60 million and a chance to get your name in the local newspaper for being only the 2nd American to get out of North Korea alive, if you are willing to see if you can last in the jungles for a year!  Which option do you choose?

What about this scenario

Do you cash in your $50 million winning lottery ticket today, or do you rip it up, and pay another dollar to see if you can win $60 million with a 90% probability according to your state lottery official?  Even though the math says to gamble again because 90% X $60 million = $54 million…. the answer is HELL NO!

Seriously Tim, why stay?
Seriously Tim, why stay?

Tim had the golden opportunity to lock in at least $20 million over the next 5 years and he blew it.  If Timmy blows out his knee this year all the football pundits are going to then say he should have left.  Some rich Florida alumni isn’t going to suddenly feel sorry for Timmy and give him $50 million.  Florida is a football factory, and once Timmy is no longer productive, another Timmy will come along.

You might think secretly I’m some bitter Ohio State, Oklahoma, or Texas fan vying for the National Title, but I’m not.  I’m just a partial observer who is thinking rationally.  Timmy can always go back to school, or study part-time if he wants his 4-year college degree.  

College is a means to an end, and you know he’s had more fun than most anybody who’s ever gone to college has ever had.  To Timmy, and all those who could have gone to the NFL but didn’t, good luck to you this season.  For those of you who are thinking rationally, shoot me an e-mail and let me represent you in your negotiation talks!

Changing jobs or careers is a lot like entering the NFL. The most important thing to realize is that we are all replaceable, and that if you don’t take the opportunities, or at least thoroughly think things through, you may NEVER have that opportunity again.  

There will always be some hotshot nipping at your heels, and you only have a limited time to build your NUT before some bigger squirrel takes it away. Get to a $10 million net worth if you can, and then kick back for the rest of your life!

The key is to invest your capital in enough passive income investments so that you never have to work again.

College football fans, what are your thoughts?  Should guys like Timmy have left to the NFL or stayed?  Do the coaches and fans really have their best interests at heart?

Keigu,

Sam

Slicing Through Money’s Mysteries

Free Wealth Management
Tweet
Share
Pin
Flip
Share
Buy this not that instant bestseller Wall Street journal banner

Filed Under: Retirement

Author Bio: I started Financial Samurai in 2009 to help people achieve financial freedom sooner. Financial Samurai is now one of the largest independently run personal finance sites with about one million visitors a month.

I spent 13 years working at Goldman Sachs and Credit Suisse. In 1999, I earned my BA from William & Mary and in 2006, I received my MBA from UC Berkeley.

In 2012, I left banking after negotiating a severance package worth over five years of living expenses. Today, I enjoy being a stay-at-home dad to two young children, playing tennis, and writing.

Order a hardcopy of my new WSJ bestselling book, Buy This, Not That: How To Spend Your Way To Wealth And Freedom. Not only will you build more wealth by reading my book, you’ll also make better choices when faced with some of life’s biggest decisions.

Current Recommendations:

1) Check out Fundrise, my favorite real estate investing platform. I’ve personally invested $810,000 in private real estate to take advantage of lower valuations and higher cap rates in the Sunbelt. Roughly $160,000 of my annual passive income comes from real estate. And passive income is the key to being free.

2) If you have debt and/or children, life insurance is a must. PolicyGenius is the easiest way to find affordable life insurance in minutes. My wife was able to double her life insurance coverage for less with PolicyGenius. I also just got a new affordable 20-year term policy with them.

Subscribe To Private Newsletter

Comments

  1. valerie says

    August 28, 2009 at 12:49 pm

    I think the writing is on the wall why Tim stayed in college – i.e.: the photos!?

    I love football too and am very excited to see what Bret Favre can do for my beloved Vikings… oh one can dream right? ;)

    Reply
    • admin says

      August 28, 2009 at 1:43 pm

      Hey Valerie! What do you mean the writings on the wall as to why Tim stayed in college? I see nothing obvious about those photos! :)

      Brett Favererrr is the man. It’ll be great to see him back against GB for sure. Nothing drives motivation higher than proving oneself to a former organization! Too bad there will be disappointment in the end. Sorry, but I’m just telling the truth!

      Shogun

      Reply
  2. David@DINKS Finance says

    August 26, 2009 at 9:50 am

    He should have left. One thing that annoys me is that players can no longer go from high school to the NBA. Why shouldn’t they be able to? They are talented and worth a certain dollar number. Instead they are forced to go play for free for a year and miss out on a years worth of income. Ridiculous.

    As far as Tim, he should have gone to the NFL. He probably thinks he is invincible at this point, even though you are correct that if he blows out that knee he will be regretting it the rest of his life.

    Reply
  3. Resort at Squaw Creek says

    August 26, 2009 at 8:40 am

    I love this time of the year! ND and Ohio State are overrated! Oh yeah, I hate Texas too. Those guys make me sick. Go Hokies!

    Tebow should have definitely left for the NFL. He would have got equally as much action in the real world, than in college! Well…. maybe not. College was crazy fun for me, so I can’t imagine how it’s like for Tim.

    Reply
    • admin says

      August 26, 2009 at 10:53 am

      @ RSC – I agree, Norte Dame is waaaay overrated. I don’t know what Lou Holtz was smoking when he said his old school will contend for the national championship! Gimme a break!

      @ David – Not sure why there is this double standard in the NBA. Perhaps it’s because these kids need to learn how to be men first, otherwise we’ll have too many Michael Vick’s prowling around.

      Can’t wait for next weekend!

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


n
n

Top Product Reviews

  • Fundrise review (real estate investing)
  • Policygenius review (life insurance)
  • CIT Bank review (high interest savings and CDs)
  • NewRetirement review (retirement planning)
  • Personal Capital review (free financial tools and wealth manager)
  • How To Engineer Your Layoff (severance negotiation book)

Financial Samurai Featured In

Buy this not that Wall Street journal bestseller

Categories

  • Automobiles
  • Big Government
  • Budgeting & Savings
  • Career & Employment
  • Credit Cards
  • Credit Score
  • Debt
  • Education
  • Entrepreneurship
  • Family Finances
  • Gig Economy
  • Health & Fitness
  • Insurance
  • Investments
  • Mortgages
  • Most Popular
  • Motivation
  • Podcast
  • Product Reviews
  • Real Estate
  • Relationships
  • Retirement
  • San Francisco
  • Taxes
  • Travel
Buy this not that WSJ bestseller 728
  • Email
  • Facebook
  • RSS
  • Twitter
Copyright © 2009–2023 Financial Samurai · Read our disclosures

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system.
DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. Stay on the righteous path and think long and hard before making any financial transaction! Disclosures