Warriors' Klay Thompson's dad will cut his allowance after l

Warriors' Klay Thompson's dad will cut his allowance after l

Postby Basketball Fan on Fri Mar 01, 2013 4:09 pm

At least he won't appear on "Broke"

http://probasketballtalk.nbcsports.com/ ... t-kidding/

Klay Thompson’s dad will cut his allowance after league fine. I’m not kidding.

Klay Thompson is 23, a part of the young core of the Golden State Warriors, a guy who already is considered one of the league’s better shooters. He’s still on his rookie deal, so he’s “only” going to make $2.2 million this season, and not much more next season.

He’s going to make a little less this week — the league fined Thompson $35,000 for his involvement in the dust up with the Pacers this week.

But Klay won’t notice because doesn’t get his bi-weekly checks from the Warriors anyway — they go to his father, Mychal, who gives him a weekly allowance. Seriously. And is dad is going to cut his allowance after that fine. Just for the record again, Klay is 23.

Mychal — the former No. 1 overall pick and part of the Showtime Lakers who is now a Lakers radio broadcaster — has said on the air in Los Angeles more than once that he gets Klay’s checks and puts them in the bank then gives his son a $300 a week in spending money. The elder Thompson takes care of all the bills.

CSNBayArea.com had excerpts of a recent Mychal radio broadcast talking about his son’s finances.

“He will [figure it out] when he sees that cash envelope show up a little short this week,” said Mychal, a two-time NBA champion in his own right.

Mychal, while watching the ruckus unfold, was hoping Klay wouldn’t lose his temper and get involved.

“Then Roy Hibbert turned his back & [Klay] was like ‘now’s my chance’!” Mychal said. “I was like ‘you idiot’!”

On some level, I wish more parents would do this for their NBA player sons — or could be trusted to do it without blowing the money. Far too many NBA players start living like they’re Jay-Z once the game checks start rolling in, living basically paycheck-to-paycheck. The average NBA player is in the league less than five years, those checks dry up and then there is nothing left. It would be great if someone helped more of those young players build for their futures (some do, it should be noted).

But Klay Thompson has not only his rookie deal but also a couple nice contracts coming after that — if you can shoot the rock you can play in the league a long time. Klay is averaging 16.2 points per game this season (better than his father’s career average of 13.7) and is shooting 38.1 percent from three (but just 41.4 percent overall). At some point, once there is a nice next egg built up, Klay should take charge of his own finances. Just an idea.
Basketball Fan

 
Posts: 11500
Joined: Fri Feb 20, 2004 9:45 am

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Weezy on Fri Mar 01, 2013 4:29 pm

That's good parenting to me, if you can help the kid stay responsible with his money, by all means do it.
User avatar
Weezy
CL Global Moderator
 
Posts: 50866
Joined: Sat Jun 03, 2006 11:14 am
Location: Anaheim, CA

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Iceberg Slim on Fri Mar 01, 2013 4:31 pm

$300? That's kinda light. Make it a grand dad...damn.
www.thesportslyceum.com - personal blog

Image
User avatar
Iceberg Slim

 
Posts: 4960
Joined: Wed Oct 20, 2004 2:38 pm
Location: Charlotte, NC

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Chillbongo on Fri Mar 01, 2013 6:39 pm

Damn, $300 a week would barely cover rent in the Bay.

I think it's okay for a kid coming out of high school....but I believe Klay went to college. 23 is hardly a child any more. If it was an agreement with Klay and Mychal, then it's all good.

I guess he's trying to save Klay from making mistakes he did
User avatar
Chillbongo

 
Posts: 3241
Joined: Thu Jun 22, 2006 2:25 pm
Location: Los Angeles

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby karacha on Fri Mar 01, 2013 6:49 pm

That's a good decision IMO. Yeah, the kid is 23, but probably immature, so... it might sound funny when you read the story, but that's probably smart parenting. But I agree with Iceberg: make it $1000 a week.
"It's not realistic to get younger and better when you only have the veteran's minimum to offer free agents." :mhihi:

-Troll Kupchak
User avatar
karacha
CL Global Moderator
 
Posts: 37447
Joined: Tue Nov 01, 2005 3:20 pm

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Rooscooter on Fri Mar 01, 2013 6:56 pm

Well as a father of 3 (two grown ups) I'm both glad to see this and a little sad at the same time. A 23 year old should be able to run his finances with "help" from the old man instead of this approach. If you don't learn at 23 what's going to happen with the Dad isn't there?

My kids had a "in house job" by the age of 10 if they wanted anything other than the necessities. They had savings accounts and had to show me how the compound interest formula worked before I'd give them money for what ever they wanted to save for. Both of my older ones are good savers and neither are in debt in their early 20's.... It takes time and determination to steer them away from the financial perils out there but you gotta teach them and then let them go at some point and hope the inertia of the lessons keeps them on track.....

Klay had a couple issues up at WSU as well.... each time Daddy showed up to get things right again. Seems a little like a "helicopter dad" to me....
"If the past sits in judgment on the present, the future will be lost." Winston Churchill

“The prospect of domination of the nation's scholars by Federal employment, project allocations, and the power of money is ever present - and is gravely to be regarded." Dwight Eisenhower

"Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it" Thomas Sowell
User avatar
Rooscooter

 
Posts: 23068
Joined: Sun Jan 30, 2011 4:25 pm
Location: Chandler AZ and Andalué

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby revgen on Fri Mar 01, 2013 6:59 pm

I don't think that's good parenting unless Klay agreed to do it.

My guess is that Klay decided that it would be easier for him to say "no" to those who try to prey on him if he told them that his dad controls the money. Whether that's women, friends, hangers on, etc.

IMO, you have to learn to say "no" to people. If you don't, you'll never figure it out. Granted, it's a lot harder when you're a high profile athlete. But it's a skill that young people need to learn regardless of what profession they are in.
"Every time he’s hurt, he always plays, he always comes through."

- Metta World Peace on teammate Kobe Bryant
revgen
HDTV/Multimedia Guru
 
Posts: 21722
Joined: Mon Apr 03, 2006 10:53 pm
Location: Southern California

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Weezy on Fri Mar 01, 2013 9:36 pm

Well I said good parenting not great, I only mean it's good as in it's not negative, at least his dad is looking out for his future.
User avatar
Weezy
CL Global Moderator
 
Posts: 50866
Joined: Sat Jun 03, 2006 11:14 am
Location: Anaheim, CA

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby dj vitus on Fri Mar 01, 2013 11:01 pm

Ok, I must have been living under a rock because somehow I never knew the two were related. :man10:

At any rate, to me, it seems like it was mutually agreed upon, but definitely insisted by daddy-o. Most people at 23 don't have a clue as to what to do with all that wad of cash.

And considering his college track record, I don't think daddy-o had much of a choice. Take it and invest it, or sit and watch it get blown away.
"Why are they blocking out all the good stuff? They let Sarah Jessica Parker's face on TV and she looks like a foot!!"
User avatar
dj vitus

 
Posts: 9480
Joined: Sun May 02, 2004 6:59 pm
Location: Walnut, CA by way of Laaaas Vegas!

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Frank Dux on Sat Mar 02, 2013 1:46 am

Mychal knows what's up. He knows that it's entirely possible that Klay's rookie scale contract could be his last(Injury?). a weekly allowance of $300.00 keeps Klay from picking up the bill every time and keeping the hanger-ons away.

This seems like a good way to transition into becoming a millionaire.
Frank Dux
Clublakers Moderator
 
Posts: 4252
Joined: Sun Dec 13, 2009 11:24 pm

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby KB24 on Sat Mar 02, 2013 6:25 am

Weezy wrote:That's good parenting to me, if you can help the kid stay responsible with his money, by all means do it.


I don't know, I believe thats detrimental for the development of his son...good parenting is if you make sure your son makes all the right decisions rather than taking away all the decisions from him. A 23 year old guy who get an allowance is severely under-developed, actually I would laugh if one of my friends would tell me he makes millions and gets 300 dollar allowance a week. Its kid of embarassing.

Self-reliance is actually important in life.
Image

"It is not how big you are, it is how big you play"
"Basketball doesn't build character. It reveals it"
"Be strong in body, clean in mind, lofty in ideals"
User avatar
KB24
Site Admin
 
Posts: 55531
Joined: Tue Jun 22, 2004 10:56 pm
Location: In Heaven

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Weezy on Sat Mar 02, 2013 8:41 am

Self reliance is important, but a lot of 23 year olds are also really dumb and immature. I'd rather my father did this than I blow all my money in a few years, and I highly doubt Mychal takes all the decisions for Klay. There's no way Mychal is allowed to do this unless Klay agreed to it, maybe Klay wants his money protected and knows he won't he won't be able to not spend it if he has it and asked his father to do this. Having watched "Broke" on ESPN, a lot of guys paid relatively low like Klay spend to keep up with the super rich players and they lose it all.
User avatar
Weezy
CL Global Moderator
 
Posts: 50866
Joined: Sat Jun 03, 2006 11:14 am
Location: Anaheim, CA

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby D.B. Cooper on Sat Mar 02, 2013 1:00 pm

Mykal knows what's best for his kids. Klay already went knucklehead and was busted for pot, so I can see why hed keep a short leash on him.
Image
User avatar
D.B. Cooper

 
Posts: 6851
Joined: Thu Nov 02, 2006 1:03 pm
Location: C.L

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Jazzygirl205 on Sat Mar 02, 2013 1:24 pm

Good, they need to learn.
Image
User avatar
Jazzygirl205

 
Posts: 6342
Joined: Mon Mar 23, 2009 9:25 pm

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Frank Dux on Sat Mar 02, 2013 4:49 pm

KB24 wrote:
Weezy wrote:That's good parenting to me, if you can help the kid stay responsible with his money, by all means do it.


I don't know, I believe thats detrimental for the development of his son...good parenting is if you make sure your son makes all the right decisions rather than taking away all the decisions from him. A 23 year old guy who get an allowance is severely under-developed, actually I would laugh if one of my friends would tell me he makes millions and gets 300 dollar allowance a week. Its kid of embarassing.

Self-reliance is actually important in life.


How many times have we seen these "self reliant" men blow their millions on woman and their friends? The % of pro players who go broke is absolutely staggering. I remember when I was 23, there was no way I would've been responsable if I was suddenly given access to millions of dollars. Men usually don't get out of their adolescent phase until their mid twenties.

I think it's important to become responsable for your own money eventually, but this might be a good start while Klay is still pretty young. In the end, Klay will probably be the one who's laughing, because in 20 years, most of his former teammates will be totally broke.
Frank Dux
Clublakers Moderator
 
Posts: 4252
Joined: Sun Dec 13, 2009 11:24 pm

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby Juronimo on Tue Mar 05, 2013 3:18 pm

This is bizarre. At 23 you are an adult and should be able to make adult decisions. If you can't or don't something went seriously wrong somewhere. I couldn't imagine my parents or anyone handling my money at 23.
Image

Ferguson, we hear you.
RIP Mike Brown.
User avatar
Juronimo

 
Posts: 6598
Joined: Thu Jul 14, 2005 6:20 pm
Location: Fist in the air on a quest for justice

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby puffyusaf#2 on Tue Mar 05, 2013 3:55 pm

I don't mind this at the level this kid is playing at. As a Raiders fan I watched Russell bring his big butt into Oakland made over 30 million (I believe close to 60 mill) for his time there. The stories coming out now is he is broke and is hoping for another shot in the NFL. These kids don't realize that even with a great career they will be retired by 35 (most of them at least) so the money they make isn't long. So on the surface I love the idea. Now, if it comes out the his dad was spending his money and all that then that would be tragic.
I don't always bring down the hammer but when I do it is usually to a troll! Stay TROLL FREE my freinds!
User avatar
puffyusaf#2
Clublakers Moderator
 
Posts: 30814
Joined: Sun Apr 02, 2006 3:15 pm
Location: Making folks sexy with dancin'

Re: Warriors' Klay Thompson's dad will cut his allowance after l

Postby 24/23goats on Tue Mar 05, 2013 4:09 pm

puffy hit the nail on the head. Players dont think about the future, just now. Though I dont think he should control his money like that, but instead teach him how to use it right. Its all good until you realized your dad is stealing your money. hopefully it doesnt happen though
24/23goats

 
Posts: 69
Joined: Thu May 27, 2010 10:50 am


Return to NBA Discussion

Who is online

Users browsing this forum: Majestic-12 [Bot] and 7 guests

cron
Advertise Here | Privacy Policy | ©2008 Sculu Sports. Come Strong.