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Super Bowl champion Odell Beckham Jr. analyzed the supposed financial dangers of signing a lucrative contract in the NFL and what a $100 million deal really means.
Beckham appeared “The Twist” in October and complained that he didn’t have the financial sophistication to know the costs that would come with a huge deal. The interview caught social media attention over the holiday weekend.
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Then-New York Giants wide receiver Odell Beckham (13) stands on the sideline during the fourth quarter against the Carolina Panthers at Bank of America Stadium on October 7, 2018. (Jeremy Brevard/USA TODAY Sports / IMAGN)
“I’ve always explained this to people, man, if you give someone a five-year, $100 million contract, what is that anyway?” he said. “It’s five years for 60 (million). You get taxes. Do the math, that’s twelve a year that you have to spend, use, save, invest, show off, whatever. I’m going to buy a car, I’m going to give my mother a house. Everything costs money. So if you spend four million dollars a year – that’s actually forty million dollars over five years – eight a year.
“Now you start breaking down the numbers and it’s like you get $8 million over five years. Can you make that last forever? And you always hear the people who aren’t us and aren’t in the position, like, ‘Oh, that would last a lifetime.’ Yes, this job that I sacrificed my whole life for, they are giving it to me. I didn’t ask for a specific dollar amount or anything. But we are not taught that there is no financial literacy…We are not taught this skill.”
Then-Miami Dolphins wide receiver Odell Beckham Jr. (3) catches the football before the preseason game against the Washington Commanders at Hard Rock Stadium on August 17, 2024. (Sam Navarro/USA TODAY Sports/IMAGN)
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Beckham’s second contract with the New York Giants was worth $90 million in five years before he was traded to the Cleveland Browns. to Spotrac. He then signed deals with the Los Angeles Rams worth $1.2 million, part of which he turned into Bitcoin.
The deal with the Baltimore Ravens was worth $15 million and his contract with the Miami Dolphins was worth $3 million. Through 2025, Beckham has earned more than $101 million.
Then-Los Angeles Rams wide receiver Odell Beckham Jr. (3) watches before the game against the Seattle Seahawks at SoFi Stadium on December 21, 2021. (Kirby Lee/USA TODAY Sports/IMAGN)
