Bart Scott talks about his worst investments

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mateinsixtynine
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Bart Scott talks about his worst investments

Post by mateinsixtynine » Sat Jan 28, 2017 2:32 am

Bart Scott is one of a few people who gives advice to prospective players at the Senior Bowl. A little article talks about the advice he gives, mentioning a really bad investment.
A Detroit native who had a modest upbringing, Scott made more money than he knew what to do with in his first few seasons. And when his accountant presented him with an opportunity to invest in an American Basketball Association semipro team in his hometown, Scott jumped at it.

"I tried to be Mark Cuban," Scott said.

He bought slush machines and helped pay for player payroll. All the while, Scott never went to a game to see the sparse crowds at local gyms.

By the time he pulled out of the investment, he had lost some $90,000
and at the end of the article:
As for his worst financial decision? Well, the ABA investment is up there.

"I think the ABA basketball team was pretty stupid," Scott said. "I mean, here I am buying slushy machines and stuff. Never even see the product. And it was in Detroit, so you already know there’s more people at a high school basketball game than was at ABA. Come on, ABA? They’re in, like, random high schools, spots. Here you are, you got people running out, you’re paying grown men. It was pretty damn dumb."
http://www.freep.com/story/sports/nfl/lions/2017/01/26/bart-scott/97082692/

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