Before anyone tries to MOVE this, this has to do more with a possible bad career move, then just talking about the sport of basketball, so thats why I didnt put it in the Sports Forum...
Quote:
LeBron's Finally Acting His Age
Firing Agent, Hiring Friends a Sure Sign
By JIM ARMSTRONG, AOL
Finally, just when it seemed like he would never arrive, we have an athlete who can stand on a podium, look into a sea of cameras, smile for his adoring public and say in all honesty, without crossing his fingers, without breaking into gut-splitting laughter, that it isn't about the money.
It can't be about the money. Not with LeBron James. How do we know? Because he did something this week that will cost him millions of dollars, if not tens of millions. He has to know it, too. No sane person could have told him it was the right thing to do, the prudent thing to do, the fiscally responsible thing to do.
But King James being King James, he did it anyway. He fired agent Aaron Goodwin, the high-powered mover-and-shaker who negotiated an unprecedented $135 million worth of endorsements before young LeBron ever stepped foot on an NBA court or walked across Lake Erie.
Why did he do it? It certainly wasn't a matter of incompetence. Goodwin is among the highest-profile agents in the business. You've got a better chance of finding Jimmy Hoffa than a fellow agent who'll talk trash about Goodwin. And, this just in, agents miss an opportunity to talk trash about fellow agents about as often as Tom Arnold misses Roseanne.
Far as anyone can tell, there was only one reason why LeBron canned Goodwin. He wanted to take care of his homeboys from Akron. Henceforth, he'll be represented by three members of his inner circle, most notably Maverick Carter, a 23-year-old former Nike intern - gee, how do you figure he got that gig? - who played high school ball with the King himself.
I forget the names of the other two, but they aren't important for today's discussion anyway. All that matters is this: There may not be a college degree in the bunch, and there certainly isn't a law degree. Investment savvy? They probably think Wall Street is a backup band for Green Day.
As much as you've got to admire LeBron's loyalty, you've got to question his sanity. This is the ultimate in it's not what you know, it's who you know. In King James, Inc., the only prerequisite to getting to the top is knowing the boss. Though, come to think of it, totaling the Hummer when His Majesty is riding beside you probably wouldn't be a good career move, either.
Dealing With LeBron
Firing Aaron Goodwin, your basic deal-maker extraordinaire, to hire three of your buddies is crazy. This isn't throwing caution to the wind. It's the financial equivalent of tossing a beer in Ron Artest's face. It's an open invitation for trouble.
Let me guess. A few years from now, when LeBron needs knee surgery, he'll have his plumber do the job. When he needs his taxes done, he'll hire Mike Tyson. Now that she's out of the slammer, is Mary Kay Letourneau available to baby-sit? If so, LeBron wants her phone number.
You wondered if this day would come. As in, if LeBron would ever act his age. On the court, it's as if he's a 10-year veteran. Now comes a reminder that, away from the spotlight, he's still a 20-year-old kid prone to do what 20-year-old kids do. Not only that, he's a 20-year-old kid who apparently succumbs to peep pressure.
There are those, in the aftermath of the stunning development, who've said LeBron didn't necessarily make a mistake. Not that anyone has accused him of making a shrewd move, but many question just how much he needs an agent. It's not like an NBA team will try to sign him for anything less than the league maximum. Cleveland would give him the Browns, the Indians and the Rock 'N' Roll Hall of Fame this minute if it meant the Cavs securing his services for life.
Then there's the matter of all those endorsements. Goodwin has done the heavy lifting on that front, cutting enough multimillion dollar deals to secure Brigham Young's family for life, not to mention LeBron's. With all those contracts signed for so many years, why does LeBron need an agent to get him more endorsements?
Why? Because stuff happens, that's why. Because LeBron plans on being around for 15 more years. Because at some point, those endorsement contracts will expire. What, one of his boys is going to take time away from washing the King's Porsche to cut a deal with McDonald's? One of his posse members is going to sit down at a table and negotiate with Nike chairman Phil Knight and his pinstriped guardians of the bottom line?
It would be one thing if a relatively small amount of money were at stake. But LeBron, assuming he continues to be LeBron, is a multinational, multibillion dollar industry. In 1984, Michael Jordan got $500,000 and a cut of the action from Nike. Nineteen years later, LeBron got $135 million in various endorsements before breaking his first sweat.
At that rate of inflation, LeBron could be loaning Bill Gates money before he's through hooping it up. Assuming, of course, his pals don't find a way to lose it faster than he can make it.
What yall think??? You think Lebron just made a several million dollar mistake, by firing his old agent, and hiring some friends who have no experience?
I don't think it's that serious. It's his money and whatever he chooses to do with it is his business. I don't think him firing that agent is going to make him go broke. That's the problem... people are worried more about the business of professional sports instead of the love for it. Shouldn't how he plays and his passion for the sport be more of a concern rather than what he does with his money because of playing the sport?
Trust me, LeBron is still gonna be a rich man.
I wouldn't have fired the guy just for loyalty's sake. I mean, the dude got Lebron a $90 million contract BEFORE he even stepped foot in an NBA arena! That's gotta count for something!
BUT, we dont know the whole story. His former agent could've been mismanaging Lebron's money (which having your agent manage your money is a bad thing anyway...that stuff should be done by investment firms and such...agents should only be able to negotiate contracts). There could be something else going on that we dont know about yet.
His agent never dealt with his money, probably, that wasn't his job his job was to get him deals. And if lebron let him go earlier than what his contract was to expire, the AGENT did get a nice amount for early termination.I'm sure everything is fine between them Lebron just did what he felt like doing.
I don't think it's that serious. It's his money and whatever he chooses to do with it is his business. I don't think him firing that agent is going to make him go broke. That's the problem... people are worried more about the business of professional sports instead of the love for it. Shouldn't how he plays and his passion for the sport be more of a concern rather than what he does with his money because of playing the sport?
Trust me, LeBron is still gonna be a rich man.