Dani Pedrosa in Debt

Shovelhead · Dec 23, 2015

Pedrosa owes the Spanish Treasury 7.85 million euros.
I guess he's not retiring anytime soon.

http://www.epa.eu/crime-law-and-jus...ters-according-to-a-list-published-by-spanish-treasury-ministry-photos-52486490

m_grewal52 · Dec 23, 2015

dayummmm dani!

cvrle1 · Dec 24, 2015

Very similar to Jack Johnson (plays in NHL for Columbus) who ows more than $10M US to lenders. Twist is that his folks were ones who bankrupted him by borrowing money using his name and career. I never understood how some o fhtese athletes, no matter what sport they are in, can amass such monetary losses.

Pay someone that knows what they are doing to take care of your money.

kmoney · Dec 24, 2015

"According to a 2009 Sports Illustrated article, 78% of National Football League (NFL) players are either bankrupt or commit suicide within two years of retirement and an estimated 60% of National Basketball Association players go bankrupt within five years after leaving their sport."

It's crazy across lots of sports. I guess it's hard if you weren't a superstar making set-for-life cash, as you go from earning high six-figures/low millions a year for a few years to working at Dick's Sporting Goods, but still try to live the same lifestyle.

bandito · Dec 24, 2015

I wonder if this is some sort of taxation issue. He's probably living in Spain, but exists as a corporate entity where taxes are far less. No doubt he's got an army of
accountants and lawyers that represent him.

Smoke · Dec 24, 2015

Must be taxes, he lives in Switzerland. Spain just wants to get his money.
I think Pedrosa will shine next year, his last five races of 2015 were impressive.

doser · Dec 24, 2015

Smoke said:
Must be taxes, he lives in Switzerland. Spain just wants to get his money.

iirc, Rossi went thru this 'dance' with the taxman a few years ago too. all big money professional athletes use their accountants and advisers to 'play the same games' when it comes to money - namely, to hang onto as much of it as possible and to pay as little tax as possible. how's it go? "the rich are not like you and me".

btw, speaking of pro athletes and money brings to mind the story of Wayne Gretzky, his dad, and his signing to the NHL. he got something like $100,000 (which was a huge amount of money in the terms of the time) and like all young guys had stars in his eyes and wanted to blow a whole bunch of money right away on a hot, shiny, impressive new car. but his dad, who was then his manager, gave him $5000 and Wayne bought a used Firebird. he's been smart about money ever since... unlike many of the unfortunates kmoney refers to...

CanadianBird · Dec 24, 2015

At some level, same as our kids. It is our responsibility as parents to teach financial responsibility and the pain of debt. Same as the school system, IMO.
Teach the value of $ and the pain of debt. Don't model financial irresponsibility, teach the opposite. It needs to be done early, I believe.

Steve G. · Dec 24, 2015

Spain is in a world of debt shite. Even national hero's are not spared.

Shovelhead · Jan 6, 2016

Pedrosa working, earning extra money during the off season

Dani Pedrosa in Debt

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