Recently cut Ryan Broyles lived on $60K budget, may have $1M in bank
Ryan Broyles was placed on waivers earlier this week by the Detroit Lions and currently is an unemployed free agent. The wide receiver made news earlier this year when it was reported he and his wife and newborn son were living on a $60,000/year budget. Given his current employment status, his frugality was a good thing, as a reasonable estimate would put him at having at least $1 million in the bank.
“The pressure I put on myself is just being the best player I am,” Broyles told ESPN.com. “I would never play [just] for money, you know what I mean, that’s not my intentions whatsoever.
“Whatever comes, it’s just a blessing. But I got the mindset of a businessman off the field, I’ll tell you that.”
Despite playing out a contract that saw him earning approximately $1.4 million in guaranteed money over three years, per calculations made by the New York Post, the Broyles pinched every penny and saved or invested the rest of his rookie-level, $3.4 million deal, meaning he’s set up his family for stability to say the least.
Here’s how the Post arrived at their computations:
This was set to be the last year of his rookie contract. With $1.42 million guaranteed and three years of salary in the $550,000 range, that would mean Broyles made about $3.05 million. If we call that $1.5 million after taxes, and subtract three years of his annual $60,000 budget ($180,000), it leaves at least $1.3 million — not including returns that the markets-minded Broyles has seen on his investments.
Despite being cut loose by the Lions, Broyles nevertheless took to Twitter to thank the organization for the opportunity to play professional football.
“When one door of happiness closes, another opens" Thank you Detroit pic.twitter.com/6dfkRy2Fe4
— Ryan Broyles (@RyanBroyles) August 31, 2015
It’s a more than reasonable assumption that the NFL would like a few more Ryan Broyles among its player population. Not only for his fiscally responsible ways, but also for the classy and dignified manner in which he conducts himself. Perhaps he’ll catch on with another team and be able to continue his frugal ways.