CJ McCollum clarified his comment that ‘150 NBA players are living paycheck to paycheck’ due to the coronavirus.
The superstar of the Portland Trail Blazers explained why he made that statement and how he got that figure.
“I think there’s a lot of players—based on what I’ve seen, what I’ve experienced, the research I’ve done—that either mismanage money or aren’t in a position to make the right decisions financially because they’re the first generation wealth.
It’s hard to manage money when you’ve never had it before and everyone around you has never had it before.
It’s not like me saying ‘feel sorry for us.’ We make millions of dollars. It’s not saying that I’m struggling. It’s saying that a lot of players —especially years two through four — are still trying to figure themselves out. They’ve either hired a financial adviser or are in the process of hiring someone.
They’re figuring out their budget. And I think a work stoppage affects everybody—whether you have money or not—it affects people around you and it affects you directly,” McCollum said, per NBC Sports.