How Arenas Spends $$

Post #1 » by **W. Unseld** » Fri Nov 1, 2013 9:09 pm

If anyone knows Gilbert, please, please get him to a financial adviser or at least tell him to stop giving Nick Young money:

http://www.businessinsider.com/16-ridic ... 13-10?op=1

Nivek · Post #2 » by **Nivek** » Fri Nov 1, 2013 9:38 pm

This is a really **** feature by Business Insider. Everyone associated with this story should be fired. Yes, I'm serious.

Most of this stuff is OLD news. The house they're referencing was his home in Virginia, which he sold when the Wizards traded him. This old news is written in present tense for no reason other than to make sure Arenas looks bad. For example, the amount he spends on housekeeping is from a January 2011 story. Ditto for the car wash, the landscaping, the grotto, the toy Mercedes, the shark tank, the groceries, and the FAO Schwartz shopping spree. The hyperbaric chamber story is from 2006.

The gambling story uses the word "always" even though the source article reports on a one-time thing. The source article even describes how naive Arenas is -- his plan of going gambling with $5 bills didn't work because the casino wouldn't cash all the fives.

No idea where the "wads of $100 bills on a typical night gambling" thing comes from. It looks like a DRE.

The shoe giveaway story is two years old and appears to be a one-time thing. Most likely, the $7800 cost was borne by his shoe company.

Given the atrocious writing, clear bias and piss-poor "journalism," I'm just going to assume the "showering Nick Young with cash" story is taken out of context.

What a reprehensible, loaded, piece of **** slideshow posted by Business Insider and "Editorial Intern" George Sitaras.

Arenas may be living a lavish lifestyle. This "feature" doesn't show that, though. It just shows how low Business Insider's editorial standards are.

Kanyewest · Post #3 » by **Kanyewest** » Sat Nov 2, 2013 7:18 am

Arenas said in an interview on TMZ that he was doing fine financially. He was saying that the shark stuff that he paid for was still on his first contract from the Wizards. He also said that he made significant money bringing five guys to California and is now working on mobile applications for cell phones/IPads (he didn't say which ones he was working on because he thinks that people hate him and will not buy it).

Here's hoping that things work out for Arenas- even if it didn't work out with the Wizards.

noworriesinmd · Post #4 » by **noworriesinmd** » Sat Nov 2, 2013 12:20 pm

If anyone wants to learn about NBA contracts I recommend you listen to Jalen Rose's podcast.
http://www.youtube.com/watch?v=-362OfeM9OQ

Bottom line athletes are like regular people with their money.
How many people blew their first couple of paychecks when they started working?
Then you learn to save as time goes on.
Jalen Rose, says that most Athletes blow their first contract, but learn with the subsequent contracts.

I saw that TMZ video too and I thought to myself 'Good for him'. He blew his first contract and learned from his mistakes...which he admitted.

I looked online to find his iphone apps, but could not find them.....I'd love to see them.

This is an obvious hit job using old (Nick Young) pics and MLS pictures (which are online at some realty sites) to paint the picture of a dumb guy...which he is not. Disappointed.

go'stags · Post #5 » by **go'stags** » Sat Nov 2, 2013 5:17 pm

Besides, he has likely given away an incredible amount of money and other things to people in need behind the scenes.

Chocolate City Jordanaire · Post #6 » by **Chocolate City Jordanaire** » Sat Nov 2, 2013 5:23 pm

I haven't read it or seen the pictures. From the outside looking in it sounding negative, and like something I don't want to process. The one thing I do when I do read "character assassination/crap" articles is either comment to the writer or make sure to make a mental note of who wrote the piece.

I'm a big time hater, at times, and I have to really watch it to make sure I am being fair. I hate when folks attack weaknesses or mistakes that are not basketball related and not a pattern and just meant to destroy some player's career or their peace of mind. I talk about Wall a lot but he's a player who has improved and there's nothing about his off the court that bothers me. Seems to be a really good young man, one I misjudged earlier. If there is a limit to his ability on the court I know he sure as hell tries hard. He puts in the work. I can't help but respect him.

I can't respect articles that are hate-based and that use old, and even embellished subject to denigrate.

The other person I feel I hated on a lot was Flip Saunders. All I have to say is Minnesota is 2-0, seems to be rolling on the right track, and I bet he's happy in his new role. He's obviously doing things right there.

FAH1223 · Post #7 » by **FAH1223** » Sun Nov 3, 2013 12:39 am

Gilbert is smart with his money and investing it in different places. He's also working on apps. This stuff like Nivek said is old news and Arenas said that all of that stuff was mainly from his first Wizards contract, the one he signed in 2003 for $65 million.

Kanyewest · Post #8 » by **Kanyewest** » Sun Nov 3, 2013 6:49 am

Chocolate City Jordanaire wrote:I haven't read it or seen the pictures. From the outside looking in it sounding negative, and like something I don't want to process. The one thing I do when I do read "character assassination/crap" articles is either comment to the writer or make sure to make a mental note of who wrote the piece.

I'm a big time hater, at times, and I have to really watch it to make sure I am being fair. I hate when folks attack weaknesses or mistakes that are not basketball related and not a pattern and just meant to destroy some player's career or their peace of mind. I talk about Wall a lot but he's a player who has improved and there's nothing about his off the court that bothers me. Seems to be a really good young man, one I misjudged earlier. If there is a limit to his ability on the court I know he sure as hell tries hard. He puts in the work. I can't help but respect him.

I can't respect articles that are hate-based and that use old, and even embellished subject to denigrate.

The other person I feel I hated on a lot was Flip Saunders. All I have to say is Minnesota is 2-0, seems to be rolling on the right track, and I bet he's happy in his new role. He's obviously doing things right there.

Interesting, Flip might prove to be a successful GM and Kevin McHale looks like a solid head coach. Perhaps they had the roles reversed in Minnesota. Still, Saunders has a long way to go to prove he is a good GM.

Post #9 » by **W. Unseld** » Mon Nov 4, 2013 9:58 pm

FAH1223 wrote:Gilbert is smart with his money and investing it in different places. He's also working on apps. This stuff like Nivek said is old news and Arenas said that all of that stuff was mainly from his first Wizards contract, the one he signed in 2003 for $65 million.

Thanks Nivek and FAH, glad to hear it. BusinessInsider is about 9/10 trash 1/10 good stuff but the good stuff is very interesting. I'm a Gil lover, so I'm thrilled it's not true or not true anymore.