While most Americans live paycheck to paycheck, many wonder if professional athletes do the same. While the coronavirus pandemic has forced so many Americans to take a hard look at their income, one NBA all-star believes players in the league are feeling the same pinch.
CJ McCollum, who has played in the NBA for seven seasons, estimates that about a third of players live paycheck-to-paycheck. He gave his guess in response to a question from Jay Williams on The Boardroom.
“I think a lot of guys are going to be hurting especially people on minimums or people that didn’t just budget correctly and didn’t expect this to happen,” McCollum said.
If this is true, the timing couldn’t be any worst. The players are in a dispute with the owners over whether they will get their next check on April 15th.
The NBA and NBPA are currently negotiating a salary reduction while games remain suspended. Shams Charania of The Athletic and Stadium reported the league is proposing a 50 percent pay cut to take place on April 15, while the NBPA has countered with a 25 percent reduction that would go into effect sometime in May.
Times are tough for everyone right now. The coronavirus pandemic has shut down the economy. It does not seem far fetched to believe McCollum’s theory.