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Thread: Warriors' Klay Thompson's dad will cut his allowance after league fine

  1. #1

    Default Warriors' Klay Thompson's dad will cut his allowance after league fine

    At least he won't appear on "Broke"

    http://probasketballtalk.nbcsports.c...m-not-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.

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    Whale Shepherd cdash's Avatar
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Honestly, it's easy to make fun of, but it's probably for the best. I mean I think he should be paying his own bills and such, but I think a majority of the league's young players could use someone who saves them from themselves.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I know that it sounds like Klay is being treated like a kid that gets a weekly allowance.....but it's probably all for the better that a trusted Family member that pays attention to the $$$ that he earns is managing his finances than he himself going out and buying a gold-plated SUV with a hot tub in the trunk.
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I see both sides of it

    However this is something they both agreed upon and his dad is the Mychal Thompson so he knows how easy this $$$ goes out. I do think its cold for him to put this out publically though.

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    Member rabid's Avatar
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    $300 though? Seriously?

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Quote Originally Posted by rabidpacersfan View Post
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    $300 though? Seriously?
    That can't last long in SF though? I mean groceries alone.

    I'm guessing its just for him since everything else is paid for(living expenses etc.)

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Quote Originally Posted by rabidpacersfan View Post
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    $300 though? Seriously?
    Remember that does not include his bills, Those are paid by his dad. So, house, car, etc are not included.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Great Dad... And I had no idea that Mychal was his dad... I must have missed that memo...
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Quote Originally Posted by rabidpacersfan View Post
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    $300 though? Seriously?
    No expenses though. $1200 cash/month goes a looong way when your Dad's paying your bills.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    After watching Broke on ESPN I think this is a great idea. Mychal sounds like a great dad.

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  17. #11

    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I dont see this being any different than using an accountant. Except he avoids accountant fees.
    If games are won and lost on a calculator and piece of paper, then why do we bother to play them?

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Despite the fact this gives Area 55 and G2 all sorts of ammo for next season, I think Klay's parents are more fair than the league office.
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I can appreciate a parent wanting to teach their child financial responsibility, but the level of control here seems disturbing and strange to me. He's a 23-year-old. He should get his own damn paycheck in my opinion.

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  23. #14

    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Yea but he is a 23 year old celebrity that makes millions. Not a college kid working at WalMart.
    If games are won and lost on a calculator and piece of paper, then why do we bother to play them?

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    But he's not even a college kid anymore; he's past that and this is his professional career. Can you imagine if this was a professional in a different field than sports?

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Quote Originally Posted by MAStamper View Post
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    But he's not even a college kid anymore; he's past that and this is his professional career. Can you imagine if this was a professional in a different field than sports?
    BUt thats exactly it, history shows that most young men in sports squander their money away. He's a good dad for looking out for him. Klay could end the agreement anytime he wants. Its his money.
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I would bet Klay and his dad made this agreement for Klay's rookie contract. Klay stays focused, really gets paid, then he'll be getting the checks. He'll be 25 then. Pretty smart IMO.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    It just smells like one of those situations where the word agreement has to be put in quotation marks based off of what could be an overbearing father.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I'll be 25 Sunday and I kinda wish I had my dad do this for me. And I make nowhere near "only" $2.2 million.
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Klay obviously comes from money, and has never had to worry about managing his own money. Even if Klay wasn't an NBA player, he is still set for life. I wouldn't be surprised if playing in the NBA is his first job in his life. If he has never had the responsibility of budgeting, saving, etc, then this is a great idea to teach Klay how to manage money. $300 per week is plenty of money to get by on when its just basically "play" money. He probably gets most of his meals paid for, and I wouldn't be surprised if he has a special gas credit card his father pays for. What more does a 23 year old really need to buy besides movies and video games
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Antoine Walker wishes he had a dad and mom like that, he threw away 100+ millions.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    how hilarious would it be if Klay had to negotiate the $300 limit? I could see his father only wanting to send a max of like $150 per week
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  36. #23

    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    I'd much rather hear a story about this than one about a former player broke as dirt to be honest.

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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Just think, the Pacers essentially traded the right to draft Mychal #1 overall for Johnny Davis and Rick Robey.

    And they drafted Robey because they couldn't afford to "waste" a pick on a draft-eligible guy from French Lick who was going to spend another year in Terre Haute before turning pro.

    What a disaster of a draft that turned out to be. At least we got something for Robey - trading him midseason to bring back Billy Knight.
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    Default Re: Warriors' Klay Thompson's dad will cut his allowance after league fine

    Quote Originally Posted by LetsTalkPacers84 View Post
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    I dont see this being any different than using an accountant. Except he avoids accountant fees.
    My accountant would never call me out in public for getting into a fight.

    Also, I don't have an accountant.

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