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"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

author:A pig in endeavor

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Recently, according to well-known journalists, Zhang Jike is suspected of owing more than 5 million yuan, and the news that Ms. Jing Tian's private photos were exposed to creditors caused heated discussions.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

- The cause of the incident

It is reported that a netizen broke the news that Zhang Jike, a well-known table tennis Grand Slam player in the mainland, likes to gamble, but he owes a lot of gambling debts outside. In order to settle the debt, Zhang Jike mortgaged his and Jing Tian's intimate photos to the creditor.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

As a result, the creditor took the photo to Ms. Jing Tian to ask for money, and was sued by Ms. Jing Tian. Subsequently, Zhang Jike issued a statement that he would take legal action against infringing users.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?
"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

I thought that the matter would subside with Zhang Jike's statement, but surprisingly, Li Weiao, chief reporter of the Economic Observer, issued an article "confirming" that Zhang Jike's leakage of Ms. Jing's private photos was true, saying that there were 3 private videos involving Ms. Jing, and 1 video screenshot. He also added that he had also found out the photos of the 5 million IOU (loan contract) issued by Zhang Jike and his other materials.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

As early as 2004, Zhang Jike was expelled back to the Shandong provincial team because of gambling, and he just entered the national team.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

And Ms. Jing Tian said on a program that she experienced a relatively big bad thing in 19 years, which caused her to be sad for a long time, and once did not dare to come out to work, afraid of men, afraid of public opinion, leaving a huge psychological shadow.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

Judging from these things, this melon may not be out of nowhere.

——A number of brands have terminated their contracts with Zhang Jike

On April 3, sports brand Anta terminated its cooperative relationship with Zhang Jike for about 10 years. His official Weibo has been unable to find information related to Zhang Jike.

Similarly, on April 3, Notland officially issued a document saying that from now on, all cooperative relations with Zhang Jike will be terminated.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

FAW Toyota officials have also deleted all of Zhang Jike's news and removed all promotional materials related to him.

The official Weibo and Douyin account of Mousse Bedding found that the account product also had no information related to Zhang Jike.

The customer service of Shufajia's official flagship store responded that Zhang Jike's name was not included in the list of brand star partners. In addition, at present, the official Weibo of Shufa Jia, Runbaiyan and Xiangyi Materia Medica, has not been able to retrieve any content related to Zhang Jike.

- Whether Zhang Jike's conduct has already constituted a violation

Yang Baoquan, a lawyer at ZhongYin Law Firm in Beijing, pointed out that the "Zhang Jike incident" is probably not only an entertainment incident, but also involves very serious legal issues. He said: If this incident is false, then the behavior of the whistleblower obviously constitutes an infringement of reputation rights, or even more serious, it may constitute the crime of defamation. And if the revelation is true, gambling itself is illegal or even criminal, Zhang Jike will face relevant punishment; According to the provisions of the Civil Code, infringement of personal privacy is to bear the most basic civil liability such as civil compensation, apologies, and compensation for losses, and will also bear corresponding administrative liabilities.

Does the incident constitute extortion? Yang Baoquan said, "Because the creditor used the relevant video when asking Jing Tian for the debt, and the party concerned was defined as a crime of extortion, if Zhang Jike and the relevant creditor conspired to act, it may constitute a joint crime." ”

At the same time, Li Shiqi, a lawyer at Beijing Shengchi Law Firm, said that the Criminal Law stipulates that anyone who extorts public or private property, and the amount is relatively large or extorted multiple times, shall be sentenced to fixed-term imprisonment of not more than three years, criminal detention or surveillance, and a fine or both; where the amount is very large or there are other serious circumstances, a fixed-term imprisonment of not less than three years but not more than ten years shall be imposed and a fine; Where the amount is particularly large or there are other particularly serious circumstances, the person shall be sentenced to fixed-term imprisonment of not less than 10 years and shall also be fined.

Since the fermentation of the matter, whether from the perspective of returning justice to the parties or clarifying the seriousness of the law, the parties cannot be allowed to talk to themselves, and the relevant departments need to attack and follow the investigation.

Why more than half of athletes are on the verge of bankruptcy after they retire

The reasons for this are nothing more than extravagant consumption habits, gambling and a lack of medium- and long-term planning. They are used to a profligate lifestyle and a way to make quick money, and it is difficult to adjust to the "second life" after retirement.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

In 2020, The Paper has done a follow-up research report, and the data shows that 60% of NBA players go bankrupt after less than 5 years of retirement. For example, former NBA "God of War" Allen Iverson earned at least $250 million (about 1.76 billion yuan) in his NBA salary and endorsements. As a result, surprisingly, less than 3 years after its retirement, bankruptcy was declared. It is said that he once lost his temper with his ex-wife, opened his two trouser pockets, and complained that he "can't even afford a hamburger now." However, under the sky-high income, there is a shocking fact: according to the survey of the American "Sports Illustrated", about 60% of NBA players go bankrupt within 5 years of retirement, and some even have to beg and steal. There are countless players like "Iverson".

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

Dennis Rodman, when he officially retired in 2006, earned nearly $30 million. However, in 2012, Rodman was exposed to bankruptcy, and was prosecuted for owing $51,000 in spousal support to his ex-wife and $800,000 in child support for his two children, and was eventually arrested and jailed. Francis, who also earned nearly 100 million in salary during his playing years, in addition to a lot of business income. But a few years after retiring, he squandered his family fortune and was caught stealing something from someone else's car worth just $7,000.

The NBA has two well-known rules: the Rolex Rule and the Veteran Law. It is also an important indicator to measure whether a player will go bankrupt in the future.

Rolex rule means that players who have just entered the NBA usually buy a Rolex watch for twenty or thirty thousand dollars in order to treat themselves. After that, they will also buy luxury goods such as luxury cars, luxury houses, and private yachts that match Rolex.

The veteran rule means that new players in the NBA are easily affected by the extravagant lives of their predecessors and thus become comparable.

Therefore, no matter how thrifty NBA players are initially, it is easy to become extravagant under high salaries and comparisons. At the same time, this unbridled indulgence is exacerbated by a high-pressure professional life.

This rule applies to other sports fields as well. It can be said that the life of profligacy and drunken money, blind hype, and financial management methods that only want to make quick money will be infinitely magnified in athletes, eventually leading to a series of bankruptcies and life tragedies.

——What are the characteristics of athletes who are still comfortable after retirement?

After retiring, athletes need to find a balance between love and survival, and find new purpose between the past and the present. Some athletes have the characteristics of being willing to learn, having the right view of money, and walking in the fields they know, which ultimately help them achieve wealth growth.

"Zhang Jike" is not a case, why do high-paid athletes frequently go bankrupt after retiring?

Jordan and Kobe are typical characters.

Bryant once invested $6 million in a new sports drink, BodyArmor. After Coca-Cola took a stake in BodyArmor in 2018, the investment has earned more than $20 million. In addition, in 2015, Kobe reached a three-way cooperation with Ali and Sina, released the documentary "Muse", established Kobe Bryant's Chinese subsidiary, and also entered Taobao to promote his personal brand KOBE.inc, and became an investor in Alibaba's pre-IPO. Kobe's business blueprint slowly unfolded, if it were not for the envy of talent, Kobe would have a more brilliant life.

A player who has been invisible on the NBA field and has only won more than a million dollars in his career, Junior Bridgman, also shined, earning $600 million after his retirement. While he was playing, Bridgman started his side business, Wendy's Burgers. After his playing career, he took the opportunity to establish a catering investment brand, Bridgeman Food Co., Ltd., officially entered the catering market and increased investment in Wendy's burger. Now, Wendy's Burger is a well-known chain of fast food restaurants in the United States.

Going to society, the first thing they have to learn is to forget and let go. In the survey report on the career development needs of athletes, 83.97% of the people chose to engage in sports-related jobs after retirement, far more than going to government agencies or institutions. The retirement of athletes is the end of competitive sports, but it is also the beginning of the athletes' individual sports careers, who have changed into a larger and more variable circle and faced a more uncertain future. And this is the beginning of the next stage in their long lives.

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