The Feds is investigating Pistons guard Malik Beasley on allegations of gambling related to NBA games. Update: No longer under investigation

[concise]

I don’t know who’s worse, Beasley owing $26k in haircuts over 3 years or the predatory prices the barber charged for Beasley to have to owe $26k

Cairo Cuts

www.cairocutsllc.com

Those look like standard prices to me.

He was probably running up bills on emergency and home appointments.

 

[Bledswole]

Thing is BEASLEY NOT the only guy in the NBA broke,its prolly plenty,thats whats crazy, he just got exposed due to the scandal

 

[Shadow King]

For the why:

When it's all said and done these dudes probably see about 40% of the money that makes it to our news feed.

For the top 30 guys in the league they ain't doing this. The "middle-class" ballers is where this starts to make sense. They're playing with NBA money. Bet 20K a game for 75 games and you've made $1.5M under the table.

For these guys with salaries under 20M that's the difference between broke or not.

 

[Barney Rubble]

Thing is BEASLEY NOT the only guy in the NBA broke,its prolly plenty,thats whats crazy, he just got exposed due to the scandal

When the lockout happened, Gil Arenas said mad players were going broke and borrowing money from the richer players

 

[lib123]

If he put 200k a year in abasic savings account...he would of been sort of alright.

Not if he has hundreds of thousands in monthly expenses.

 

[THE 101]

That’s what I was thinking. How profitable could it actually be. You’re going to lose your whole career for a few grand?

 

[lib123]

It’s crazy that stories like this still exist.

Not really. Folks of all ages, backgrounds, making all levels of income f*ck up money.

For the why:

When it's all said and done these dudes probably see about 40% of the money that makes it to our news feed.

For the top 30 guys in the league they ain't doing this. The "middle-class" ballers is where this starts to make sense. They're playing with NBA money. Bet 20K a game for 75 games and you've made $1.5M under the table.

For these guys with salaries under 20M that's the difference between broke or not.

Yeah it's called lifestyle inflation. He probably started taking out loans immediately after getting drafted using his rookie contract as collateral in anticipation of getting a big 2nd contract. Below is how much he's made each year since entering the NBA.

2016 - $1,627,320
2017 - $1,700,640
2018 - $1,773,840
2019 - $2,731,713
2020 - $13,425,895
2021 - $14,491,964
2022 - $15,558,035
2023 - $2,709,849
2024 - $6,000,000

He signed a four-year $60 million contract in 2020. The fourth year was a $16.5M team option that the Lakers declined in 2023 and he was offered a vet minimum by the Bucks. By that point he was accustomed to living on over $13 million per year and probably didn't downgrade his lifestyle. Hence the loans and the gambling.

 

[Higher Tech]

For real

 

[charknicks]

Yeah it's called lifestyle inflation. He probably started taking out loans immediately after getting drafted using his rookie contract as collateral in anticipation of getting a big 2nd contract. Below is how much he's made each year since entering the NBA.

2016 - $1,627,320
2017 - $1,700,640
2018 - $1,773,840
2019 - $2,731,713
2020 - $13,425,895
2021 - $14,491,964
2022 - $15,558,035
2023 - $2,709,849
2024 - $6,000,000

He signed a four-year $60 million contract in 2020. The fourth year was a $16.5M team option that the Lakers declined in 2023 and he was offered a vet minimum by the Bucks. By that point he was accustomed to living on over $13 million per year and probably didn't downgrade his lifestyle. Hence the loans and the gambling.

yeah, im sure dude was funding family members for certain things like homes and cars. they just dont think about the upkeep costs after your big money playing days are over. No reason to not put $2-$3 million away on a $15 million contract year. Im sure he only saw about $6 of that, but at that point, you already made $32 (saw $14-$16). You damn sure should have bought all the big money stuff at that point.

 

[BlackAchilles]

MFs movin like Davey Scatino out here smh

 

[Shadow King]

yeah, im sure dude was funding family members for certain things like homes and cars. they just dont think about the upkeep costs after your big money playing days are over. No reason to not put $2-$3 million away on a $15 million contract year. Im sure he only saw about $6 of that, but at that point, you already made $32 (saw $14-$16). You damn sure should have bought all the big money stuff at that point.

The problem is these guys get checks too. We see 7/8-figure salaries and think athletes get lump sums but it's 6-figure checks adding up. All these NBA/NFL cats start in the red because they buy shìt in the summer before they start playing.

The 6M he sees out of the 15M payday is him playing catch up.

 

[Phantum]

Larsa took a look at his atm statement while he was asleep and hit the

 

[lib123]

yeah, im sure dude was funding family members for certain things like homes and cars. they just dont think about the upkeep costs after your big money playing days are over. No reason to not put $2-$3 million away on a $15 million contract year. Im sure he only saw about $6 of that, but at that point, you already made $32 (saw $14-$16). You damn sure should have bought all the big money stuff at that point.

People aren’t disciplined enough to save half of their net income, regardless of how much they make.

 

[aceboon]

Dude owed nearly $27K to a barber, I know celebrity barbers charge out the ass but how many cuts did he get without paying?? Reading that article he wasn't paying for rent, dental work, haircuts, he was moving crazy.

 

[Phantum]

Dude owed nearly $27K to a barber, I know celebrity barbers charge out the ass but how many cuts did he get without paying?? Reading that article he wasn't paying for rent, dental work, haircuts, he was moving crazy.

For real, is a celebrity barber necessary? Wtf kinda dental work was he doing? Don't they have insurance?