Records: NFL players' investments funded controversial high-interest loans

[Saxum]

https://www.espn.com/nfl/story/_/id/31309567/records-nfl-players-investments-funded-controversial-high-interest-loans

 

Quote

The players' involvement in a business that targeted low-income borrowers puts them at odds with recent statements and actions by the league and the NFLPA on issues of inequality and social and racial injustice. "The Players Coalition has led the efforts of players and clubs to engage with leaders at all levels of government ... on issues like bail and criminal justice reform; [to] promote education reform and economic opportunity in disadvantaged communities," among other efforts, the league and union said in a joint statement last September.

 

Quote

When contacted by ESPN, some players said they did not know how their money had been invested or whether they made or lost money. "I am not sure of the particulars,'' said former NFL backup quarterback Ken Dorsey, now the Buffalo Bills' quarterbacks coach. "I am not as good as I hope to be with some of this stuff. Part of my problem is I don't understand a lot of it. I kind of trust the people.''

 

I understand Dorsey.  The paperwork is extensive and filled with laywerese wording an English teacher would have trouble diagramming. Some sections seem to contradict others.

[machine gun kelly]

Thanks for sharing Lime.  Even after reading the link, I still can’t comment.  I can only hope these players really didn’t know the details of these loans and how corrupt Texas is for allowing this to go on in their state.  There’s a reason other states do not allow these types of loan shark for lack of a better phrase type loans.  Preying on the needy is disgusting.

[DCofNC]

They invested on high returns.. end of story.