InvestorsHub Logo

EZ2

Followers 213
Posts 219050
Boards Moderated 2
Alias Born 03/31/2001

EZ2

Re: None

Monday, 07/11/2016 12:44:09 PM

Monday, July 11, 2016 12:44:09 PM

Post# of 14924
Tim Duncan, the most unselfish superstar in professional sports, retires from the NBA

MARKETWATCH 12:43 PM ET 7/11/2016


He was probably the most successful basketball player casual fans never heard of

Tim Duncan has had more success on the basketball court than almost anyone else over the last two decades. He won more NBA titles than household names like Shaquille O'Neal. He won as many -- five -- as Kobe Bryant, who had a season-long retirement party that ended with Bryant taking 50 shots -- 50! -- in his final game and scoring 60 points. By contrast, the low-key Duncan retired during the off-season in a move that was announced matter-of-factly on Monday by his team, the San Antonio Spurs.

Duncan's on-court achievements were spectacular. NBA Rookie of the Year in 1997 after graduating from Wake Forest. Five NBA championships over parts of three decades -- in 1999, 2003, 2005, 2007 and 2014. Finals MVP three times. Fifteen All-Star game appearances. Nineteen seasons with the same team. And while on the Spurs, the team had a 1,072-438 regular-season record -- the best 19-year stretch in NBA history, according to ESPN (http://espn.go.com/nba/story/_/id/ 16980885/tim-duncan-san-antonio-spurs-announces-retirement).

( )

But for all his on-court success, the 40-year-old Duncan was much less famous than other NBA superstars of his era because of his lack of endorsements and his reticence with the media and the public. Duncan made $2 million in endorsements during the 2013 season. Compare that with his contemporary Kobe Bryant's$25 million in the 2015 season, according to Forbes (http://www.forbes.com/profile/tim-duncan/).

Steve Kerr, his one-time teammate who now coaches the Golden State Warriors, said Duncan was one of the best teammates he ever had, in an interview with the New York Times (http://www.nytimes.com/2015/02/15/sports/basketball/selfless-tim- duncan-of-the-spurs.html?_r=0).

Kerr also told the Times (http://www.nytimes.com/2015/02/15/sports/basketball/selfless-tim-duncan-of-the-spurs.html?_ r=0) that Duncan was confident in his game, but humble and always willing to take criticism on behalf of his team. "He'd come into the locker room after a loss and he'd say, 'My fault,' and you'd look at the stats and he's got 38 points and 24 rebounds. Pretty sure it wasn't your fault, Tim."

In addition to all of Duncan's achievements mentioned above, he finishes his career having averaged 19 points, 10.8 rebounds, 3 assists and 2.2 blocks a game. He is fifth all-time in blocked shots (3,020), sixth in rebounds (15,091) and 14th in points (26,496).

But what contributed to the Spurs' success as much as Duncan's skill was his lack of selfishness and greed. Though in his prime he was among the highest-paid players in the league -- he made $21.2 million in the 2011-2012 season, behind only Kobe Bryant and Kevin Garnett -- he twice took massive pay cuts so the Spurs could sign other top players and continue to make the playoffs and vie for the title. In the 2012-2013 season, he took an $11.5 million pay cut, and for his final two seasons, he made just over $5 million a year (http://www.sbnation.com/nba/2015/7/9/8922483/tim-duncan- contract-discount-spurs-nba-free-agency) at a time when many players demand the league maximum (around $23 million last year).

Also see:LeBron James made $71 million last year, but still hates paying data roaming charges (http:// www.marketwatch.com/story/lebron-james-made-71-million-last-year-but-hates-paying-data-roaming-charges-2016-07-07)

One of the few times Duncan was in the news over the past few years for anything happening off the court was when he accused his financial adviser of stealing $25 million (http://blog.mysanantonio.com/spursnation/2015/06/17/report-pegs- duncans-loss-at-25-million/).

MarketWatch has spoken with several athletes in the past few years about their finances -- some for being taken advantage of by advisers or family members, and some for their personal finance acumen.

For instance, former NFL player Phillip Buchanon (http://www.marketwatch.com/story/financial-advice-from-an-nfl- player-who-lost-millions-2015-04-14) had to deal with family members who demanded he buy them a million-dollar home, while Ryan Broyles (http://www.marketwatch.com/story/nfl-player-ryan-broyles-has-made-millions-but-still-uses-groupon- 2015-09-17), a wide receiver with the Detroit Lions from 2012 to 2014, showed how athletes can make their money last after they stop playing. Broyles lives on a budget of $60,000, even though he made about $600,000 the past year he played. And Green Bay Packers punter Tim Masthay (http://www.marketwatch.com/story/this-nfl-player-slept-in-a-utility- closet-in-college-to-save-money-2016-06-08), who signed a four-year, $5.5 million contract in 2012, doesn't have an investment adviser and invests his money himself in low-cost index funds.

In fact, if Tim Duncan were to be compared with any kind of investment, it would be an index fund. A low-profile, low- cost slow-and-steady gainer that beats most of its competitors.

-Steven Kutz; 415-439-6400; AskNewswires@dowjones.com

RELATED: Meet the awesome NFL mom determined to stop her son's finances from being sacked (http://www.marketwatch.com/ story/meet-the-awesome-nfl-mom-determined-to-stop-her-sons-finances-from-being-sacked-2016-04-06)

RELATED: What it's like to take a finance class with a lot of NFL players (http://www.marketwatch.com/story/this-nfl- training-camp-turns-football-players-into-financial-stars-2016-04-06)

RELATED: This calculator shows you how much your current lifestyle will cost in the future (http:// www.marketwatch.com/story/this-calculator-shows-you-how-much-your-current-lifestyle-will-cost-in-the-future-2016-04-07)


(END) Dow Jones Newswires
07-11-161243ET
Copyright (c) 2016 Dow Jones & Company, Inc.

Oh! what a tangled web we weave
When first we practice to deceive!


~ Walter Scott, “Marmion”

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.