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#16
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With atleast 10% of the league already securing high risk cash loans at 18-24% and a default penalty of up to 36% interest and another 10% of the league ready to apply, it's safe to assume that 25-35% of the players will be broke within a month or two if not sooner. Things are going to get hectic very soon as the owners sit back and put the grip on even tighter. If any good comes out of this hopefully some players will learn who their friends really are as they go to those they have helped and get the silent treatment. All of a sudden all the people who couldn't be around them enough are no where to be found, and worse yet no one cares ! These predatory lenders are even making the players take out insurance policies to guarantee payment on loans if they get hurt with some premiums costing $200,000. The fleecing of the nfl players, if this goes on many will owe more than they are going to make next year.
http://www.thepostgame.com/features/...-lockout-loans |
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