![]() ![]() He has mentioned owning a Mazda before so some of these costs are fixed, but he exercises and pollutes the air less all while saving money on gas. So he could have just drove his cheap car to work, but instead he rides his bicycle. We were reminded of this by Terrell Suggs’s ACL injury this weekend. While he could and should get a big contract that recognizes him as one of the top 10-15 backs in the NFL, because of the nature of the sport, that’s never guaranteed. When I look at the cost of a Bentley that would represent almost 30% of his after tax earnings. So if that’s the case even though he’s making a lot more money this year he’s only going to take home about $860,000. Since most of his income is in this bracket his effective rate is probably something like 45%. He works in DC which has a 9% top income tax bracket and he is paying the top rate for federal as well at 40%. His total for this year is supposed to be about $1.57 million. His pay jumped dramatically in 2015 after only making about $400-$500k the previous few seasons. The average NFL player at best makes around $2 million a year, and that’s taking into account monster contracts, so the middle 50 percent is probably barely cracking $1 million. over post sports success.Īlfred Morris is actually the quintessential Average Joe of the NFL with his contract. This is in a league where the average career is less than three years and many players don’t have good economic prospects outside of football, thanks to degree programs that facilitate sports production for University Athletic Dept, Inc. ![]() So it’s easy to see how most players will blow more than half their income before they even get to funding an entourage, helping out friends and family, and buying other luxury goods. ![]() It probably costs more like 10% of after tax earnings if financed. Looking at transportation, a Bentley would represent about 40-45% of the after tax earnings of this typical player if he bought it outright. A typical player getting a $1 million salary could qualify for a $3 million home which will take up about 35 to 40% of his paycheck in mortgage and maintenance costs (big homes are more expensive). Guys will often buy houses, maybe a car for their family, nice suits, jewelry, and other expensive services like bottles at night clubs. It’s far more likely that a pro athlete with a nice income like Morris would finance the vehicle so that he had access to more purchasing power. So the all-in cost of the the car in the first year would be around $242,000, and that’s if he bought it in cash. So I’m going to take a higher number of double the cost listed on the site because I looked up the average for all drivers and most drivers of luxury cars are older. I think given you have a young pro athlete behind the wheel, the insurance premium would more, and also you have to throw in liability coverage too. The estimated cost of maintenance was around $3000 a year and the estimated insurance premium was about $3500 a year, which feels absurdly low. I also checked out the total cost of ownership because that should be included on top of the purchase price. That’s a total of $232,000 just to buy it. Let’s assume he pays 8% in taxes and fees to buy the car, so there’s an additional $17,000 you can add on to the vehicle price. The MSRP was around $215,000, and that’s before dealer fees and taxes. I checked out prices for the new Bentley Continental GT with a V8 engine, because you know why would you get a Bentley and not get the awesome engine. Just in case Morris wanted a color to match Washington’s jerseys. So I decided to see how much one would cost. The write-ups by reporters suggested Bentleys are a common sight in NFL parking spaces. How Much Money Does Morris Save Relative to His Peers? However, when I got to looking at Morris’s situation more closely, I realized that Alfred Morris has the smartest financial mind in football, perhaps rivaled only by Ryan Broyles, who lives off a $60,000 a year budget with his wife. ![]() Professional athletes are notorious in the media for driving hot vehicles and spending money like there’s no tomorrow. Check out that photo on the left. Even though the bike doesn’t look too shabby, consider the parking lot competition he is tempted to compete with. Alfred Morris, the starting Running Back for the Washington Redskins, got a ton of attention recently in the sports and business press for the shocking revelation that he rides his bike to work. ![]()
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