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Eugene Lee, sports agent, on why so many NFL players go broke after leaving the sport.
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Well also joining us now is Eugene -- he is a sports agent he has the replay is possibly in the -- -- to be drafted right that's correct Steward at the task he says a crime is being committed that you guys are really bad guys when -- -- well I think it depends on the agent I had a conversation this week a conference call the client.
Who's eligible for this drafting a financial advisor.
-- the financial advisor was saying you know if you want your agent to have control of your account to make decisions about the by traders sell that's up to you and I interjected I said no.
I want you to make decisions about your money so you go -- to have control of the money you want the play.
With his -- authorized.
-- they'll authorize financial -- right absolutely I believe it's part of growing up it's part of maturing as a young man.
Now your role as an agent when these young men come into boatloads of money that they've never seen before.
-- to guide them.
Well -- and accordingly that if what are you all three guys is signed up he gets drafted yes he gets a signing bonus right I mean that -- -- big chunk of money I don't know how much what is hundreds of thousands depends on the ground last year the average guaranteed money for first round pick was over ten million dollars well.
Second round is about 2.4 -- And so you've got three guys hoping that today's the day.
More likely than not the find -- tomorrow there's an outside chance later tonight.
Upon home so you it's a tense time -- it -- mean.
Instant million as -- Maybe you and you -- -- but tell you what when Saturday and Saturday night rolls around you were just so drained because of the peaks and valleys and -- of the weekend.
All right what do you what would you do one -- guys gets drafted -- from signing bonus two million dollars and he -- Well well well I'm gonna have phone that we assess your role as an agent is to advise them out I would step right in saying hey.
Let's take a step back it's about creating wealth if you want to take care of your family.
If you wanna take care of your your friends are you know outside -- -- your response.
Who Eugene hold of state -- segment on almost second about the shuffle which is in -- New York aspects as we speak at that you have it.
It's -- bound to its approaching New York City.
And it's not that far out it's going to get to New York City very very soon and that is gonna -- It's gonna go all the way around Manhattan so all of those of those who are in the skyscraper is -- look outside.
And get a really close -- view on a very big this week as beautiful on a very clear day.
Of a 747.
With the Space Shuttle Enterprise.
On the back of it by the -- that particular shuffle -- went into space.
I don't know whether it was a working multiple whatever it was but it didn't go into space.
But is in the and a now approaching New York it's gonna find a home on the intrepid.
That is an aircraft carrier from World War II that stationed on the west side of Manhattan in the water.
We're gonna put back shuffle on the deck and you will be able to go around and see it I think you've got to get inside the thing and how to looks a and look at getting real close -- that he gives us some perspective.
From the skyline it's gonna be you all the way around Manhattan they did this I think about ten days ago.
What a shuffle was delivered to the Smithsonian in Washington DC they -- -- on the back of the 747.
All around DC it was again a very clear day everybody can hang out and take a good close look Charles I think that.
Beautiful it is it's absolutely beautiful it's it's a bittersweet though because the program is coming to -- and then next how we wanna go to space we got -- China Russia for right that's right.
-- that whole team of people who built that brilliant enterprise.
Is being split apart never to be reassembled.
You're looking at history that's gonna eventually -- and JFK airport in New York City that's a sweet side.
Does and NFL draft -- have anything decide about not beautiful sight right now.
I'll reiterate what Charles -- I mean it's a shame that the air is coming to an end I remember when my first memories in seventh grade is watching challenger disaster.
Celebrates saint Michael school we brought TV's and we were just.
It was an unforgettable day -- would you spend your money allow your tax money to go to keeping -- space program go.
I believe so absolutely and really we don't wanna follow fall behind the Russian -- better than the in the crabs on the treadmill.
Now I don't know how long it's gonna be settling Manhattan flaw but it is a beautiful side.
It yeah.
I produce it tells me it flew around Washington for have a truth that.
They -- to that's it's Glenn -- degree.
-- gonna do the same -- in the real well fault why not this is how your tax money was spent while Ronald Reagan by the way get that's how he spent it I think he spent it pretty well.
Let this administration actually camel approach -- so what -- that -- But everybody last comment from Eugene Lee you've got three plans in the NFL draft.
You hoping that they are drafted today or at least tomorrow yes I put it to you that the NFL makes a full -- out of that draft that is a very boring occasion for people like me go.
General population would beg to differ Stewart.
If you really that's the reason why the -- switch the format they want to have three days of the NFL draft they switch that as of last year they're gonna continue it.
As far as I can see in the future the chemical all the money and -- absolutely right graphic has become such a huge cultural phenomenon the wind is just a bunch of guys sitting around discussing linguistics Clinton -- everyone -- You know not -- quarterback somebody that can sit back and watch their favorite team makes elections but with a selection -- this election that I would have done that differently -- -- -- roller -- -- you -- that's a good of future income is something I think it I'm keeping an under wraps right now bush has been pretty tense time yeah.
-- -- I was is gonna ask you know when these guys come and they do -- I agree with your point I met with some athletes and -- -- long ago about ten years ago.
And you know two -- they want -- -- to invest money form and when I told the kind of return I think they could -- they decide all you gotta be kidding got to tell me I think it's 1% a month you know.
How do you protect them from now because they you know they.
-- -- really believe this kind of stuff the foundation is trust once you establish that trust your client.
They know that you are gonna make decisions and advise them in their best -- -- -- kind of rubber -- some of these guys to come in almost every year this one -- two guys who have been improved body NFL kind of vetting process is busily have.
You know it's a process where that you fill out an application and you make sure you run a background check it's pretty it's pretty basic -- has an -- your role is to be a fiduciary.
Guardian -- to your -- you gotta let him grow up and that means a lot of times learning the hard way it does but the same point on you can allow them to make decisions -- guide them at the same point in time.
By the way everybody if you -- new you'll you'll know that that shuttle with on the on the need for some 47.
-- -- -- -- Is it just flying over the George Washington Bridge so I was gonna straight down the Hudson -- and again it is a very clear that he so everybody all the millions of people in Manhattan that look cannot as we speak.
Looking over to the westside.
And -- Goss okay.
You -- we wish -- the best of luck tonight very much guys make some serious money for your and I hope you take care of the money for can.
I'll do my best you're good man mister -- fuel as a thank you thank you -- cut back up the.
