Sportress of Blogitude

$1 million in cash Pacers guard Lance Stephenson posed with part of NBA ‘teaching tool’? (photo)


Indiana Pacers guard Lance Stephenson — an astute photobomber as an aside — caused quite a stir on the interwebs on Wednesday after he posted a photo to Instagram of himself surrounded by fat stacks of cash, $1 million to be specific.

While the knee-jerk reaction was to castigate and criticize Stephenson for pulling such a move that appeared to demonstrate that Stephenson was an ostentatious braggart, it turns out that the cash was in the team’s locker room as part of some kind of teaching tool by the NBA.

Say whaaaa?

Apparently, spreading around a bunch of cash on a table was a way to teach players about sound financial management.

Via a report:

Once practice concluded and the players completed their media obligations, they gathered in the team’s film room back in the locker room at Bankers Life Fieldhouse. There, they sat through a mandatory league meeting centered on financial education.

Managing their money is important and can’t be stressed enough. The players were instructed to always know where their money is going, and shown why hiring a business manager can be a huge help. Audits, what they are and what is needed, were also discussed.

Interesting approach. The strange thing is for some reason, despite the fact that it was an odd initiative orchestrated by the NBA, Stephenson has since deleted the photo from Instagram. Strangely, teammate George Hill tweeted a pic of the money and that’s still up:

Weird stuff. If a million dollars in cash can be produced to teach employees how to properly manage money, doesn’t that indicate there is no reason why money management should  be an issue? Must be rough, right?

[Indy Star]