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Can LeBron Become The Billion
Question: Who was the first player to be the number one pick in the NBA draft straight out of high school,[link widoczny dla zalogowanych]?
(You can find the answer at the end of this article,[link widoczny dla zalogowanych].)
Will LeBron James be the first billion-dollar man? Probably not. But that has more to do with Tiger Woods or Michael Schumacher having a good head start. Akron St. Vincent-St. Mary High School's James is probably the biggest "can't-miss" prospect coming from any sport as there will ever be. Still in high school, this past weekend, LeBron held a press conference to announce -- drum roll please -- that he would fly over college and declare his eligibility for the National Basketball Association (NBA) amateur draft. LeBron is the undisputed projected number one pick in the draft this year on June 26, 2003. Problem is that the 6'8" standout is making so much news off the court that these distractions could overshadow his potential on the court as a baller and off it as an earner.
This weekend marked not only LeBron's declaration regarding the NBA draft,[link widoczny dla zalogowanych], it also marked the National Football League's (NFL) draft. But exactly who he's kidding with all the suspense about "will he declare or not" is questionable. Frankly,[link widoczny dla zalogowanych], the only element of suspense was which shoemaker would be endorsing the three-time Mr. Basketball in Ohio and USA Today 's national player of the year.
While the lowly Cleveland Cavaliers and the Denver Nuggets are in the lead for this thoroughbred on the court, Nike, Reebok and Adidas have shown varying degrees of interest in sponsoring LeBron off of it. Figures for a deal range anywhere from $20 to $50 million US. Not bad for a kid who still isn't allowed to consume alcoholic beverages in all 50 states.
Basketball players,[link widoczny dla zalogowanych], and all athletes for that matter, should not be focusing on their financial leverage. They should -- like artists -- focus on what they do best and let others handle the business side of things.
The problem is that with LeBron's size,[link widoczny dla zalogowanych], ability and charisma, everyone and anyone sees dollar signs instead of an 18-year-old boy. Hours before the National Championship game,[link widoczny dla zalogowanych], McGahee took out a $2.5 million insurance policy. According to Keith Lerner, an insurance agent out of Gainesville,[link widoczny dla zalogowanych], Florida,[link widoczny dla zalogowanych], McGahee's family took out a loan and paid less than $20,[link widoczny dla zalogowanych],000 for the policy.
While insurance policies usually cost about $10,000 per $1 million policy, McGahee was able to walk away with the $2.5 million policy for just $20,[link widoczny dla zalogowanych],000 because the exposure was reduced (the policy only covered him for the National Championship game) and lasted up until he signed an NFL deal. The short time frame reduced the liability and thus provided the McGahee clan with a cheap way to protect their asset.
Incidentally,[link widoczny dla zalogowanych], McGahee suffered a horrific injury that many suspected marked the end of his playing career. If the NFL draft was any indication, those people were wrong. The Buffalo Bills selected the University of Miami RB with the 23rd pick overall. When you consider that he was once projected to go as high as number two,[link widoczny dla zalogowanych], 23 is weak. But when you consider that his future was threatened when he tore three ligaments in his left knee in Miami's championship game loss to Ohio State, 23 is miraculous.
True, his injury is not as bad as originally suspected,[link widoczny dla zalogowanych], but he is looking at major surgery. History has been both kind and not-so-kind to RBs with ACL injuries: Denver's Terrell Davis and Atlanta's Jamal Anderson saw their abilities considerably restrained after their injuries; but Indianapolis' Edgerrin James and Baltimore's Jamal Lewis both came back with a vengeance.
Let's see. Some time ago,[link widoczny dla zalogowanych], SportsCenter 's anchor Stuart Scott asserted that LeBron's mother was acting no differently than any other parent who buys a vehicle for their high school son. But the problem isn't that LeBron's mother bought him a car, it is that the car happens to be an $80,000 Hummer and she used her son's future earning power to get him something in the present.
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