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Report: J.R. Smith is “broke,” father pushing him to stay in New York

May 15, 2012, 9:32 AM EDT

Knicks' Smith shoots during their win over the Heat in Game 4 of their NBA Eastern Conference basketball playoff series in New York Reuters

J.R. Smith has choices to make, and like most NBA players the decision will really be about the money. He just may be more naked about it.

Smith has a one-year option with the Knicks for next year at just a shade under $2.5 million. Conventional wisdom is that Smith would opt out of that deal because he could make more and get a longer-term deal, either with the Knicks (who can give him a 20 percent raise off that deal) or elsewhere.

But ESPN is reporting Smith’s father is pushing him to stay in New York because Smith has some serious financial issues, reports ESPNNewYork.com (via IamaGM).

A source told ESPN New York that Smith’s father, Earl, is going to make a strong case for his son to stay in New York, but “it’s very clear that the money is the biggest factor with him.”

In fact, when Smith chose the Knicks over the Clippers in mid-February after coming back from China, a source said the Knicks’ higher offer ($2.443 million to the Clippers’ $1.4 million veteran’s minimum) was the deciding factor because he was financially broke. Therefore, Smith will likely opt out and ask for the 20 percent raise. At that point, the ball will be in the Knicks’ court to re-sign Smith, who’s already said publicly that he wants to return next season.

Smith has earned $25.7 million in salary over his eight year NBA career, plus picked up a reported $3 million playing in China during the lockout.

I imagine we will hear a denial to the report soon, but it would explain the decision to play for guaranteed money during the lockout when the NBA was no sure thing.

This also means you can bet Smith opts out and if another team steps forward with $3 million a year or more they can get him. Smith runs a bit hot and cold on the court, but at that price is still a bargain. Either way, expect him to opt out.

  1. drunkenjunk - May 15, 2012 at 9:38 AM

    I know i’m beating a dead horse but I think his Father is pushing him to stay in N.Y.

  2. tmw2345 - May 15, 2012 at 9:50 AM

    The spelling errors on this site is unreal sometimes.

    • blurkle - May 15, 2012 at 10:43 AM

      *are* unreal.

      People in glass houses….

    • stuckonwords - May 15, 2012 at 11:28 AM

      “are unreal” :-)

    • wlubake - May 15, 2012 at 12:31 PM

      Is they? Is the errors unreal?

    • fanofevilempire - Mar 22, 2013 at 7:39 PM

      this is not testyourspelling.com

  3. knightrider1755 - May 15, 2012 at 10:04 AM

    The Knicks overpaid this erratic gunslinger who can’t shoot straight. Going 11-48 in the last 3 games of the Knicks-Heat playoff series shows why he was low-balled by the Clippers and why the Nuggets didn’t want him back. He’s a liability, not an asset. The Knicks will bring him back it want help them win a championship. He and Melo are like 2 peas in a pod.

  4. areyesrn - May 15, 2012 at 10:16 AM

    I don’t understand how these guys get broke…I mean you don’t hear about JR Smith buying Bugatti Veyrons or 4 mansions…

    • wlubake - May 15, 2012 at 12:49 PM

      Apparently he blew it all on tattoos.

      I think alot of these guys trust the wrong people to manage their investments. When you have that kind of cash, why invest in risky stuff? Yet they almost all do it – movies, real estate deals, record labels, etc.

    • choc101 - May 15, 2012 at 1:57 PM

      Have you seen his shoe collection? He could start his own shoe store

    • duane888 - May 15, 2012 at 3:06 PM

      That’s because pro athletes don’t get mega million dollar contracts based on their brains. They’re paid based on their physical attributes and marketability. Ever hear the term ‘dumb jock’ ?!

    • fanofevilempire - Mar 22, 2013 at 7:40 PM

      tats cost a lot, he has a lot.

  5. cantonbound13 - May 15, 2012 at 11:27 AM

    Instead they get pet tigers & have an entourage smooching off of them. Some decide it’s not a bad idea to have 5 or more kids with 5 different women. I’m not saying Smith did these things but it is very common.

  6. furio2929 - May 15, 2012 at 11:31 AM

    Man. I work at a power plant making average wage with three mouths to feed and I ain’t broke. The rule is , don’t push out more than what u bring in. It’s hard for me to understand how a guy who makes millions goes broke.

    • professoressadiesel - May 15, 2012 at 11:38 AM

      In the words of the great minded Patrick Ewing: “We make a lot of money, but we spend a lot of money too”

    • duane888 - May 15, 2012 at 3:09 PM

      Simple economics: the more you make, the more you spend.

    • 32stork - Jul 15, 2012 at 3:10 PM

      Amen and good for you, sir! JR Smith is a moron.

  7. canehouse - May 15, 2012 at 11:53 AM

    SHOCKER!!! He was fined seven figures in the Chinese league for not showing up to “practice”… very apparent that he has very little care for saving money.

  8. eaglessuperfan - May 15, 2012 at 12:17 PM

    The players associations for the leagues need to step up and address this. Obviously it is not there fault but the NFL,NBA players are going broke at an alarming pace. Some sort of player’s association run trust fund maybe?

  9. forward717 - May 15, 2012 at 12:20 PM

    Tmw2345…so is your grammar. Lol

  10. fnc111 - May 15, 2012 at 12:34 PM

    They are black and uneducated that’s why they go broke.

    • jimeejohnson - May 15, 2012 at 12:49 PM

      The white and uneducated tend to be broke from the start, and hardly ever rise out of their pathetic situation. They don’t have talent OR brains. But they do have bucked teeth, inbred genes, and a need to put down anyone not like them so they can feel good about their pathetic lives. Perhaps you are one of them?

      • maddog111 - May 15, 2012 at 3:22 PM

        Nothing like two ignorant racists battling it out on a message board.

  11. dysraw1 - May 15, 2012 at 1:22 PM

    i can take him or leave him

  12. bigzant82 - May 15, 2012 at 1:32 PM

    GUYS THEY SPEND ALL THE MONEY ON WOMEN,FOOD,SHOES AND CLOTHS SMH AND MOST IMPORTANTLY CARS

  13. furio2929 - May 15, 2012 at 1:45 PM

    If those were Patrick Ewing’s words then mine are ” spend wisely”.

  14. jonirocit - May 15, 2012 at 2:29 PM

    Wow the race card came out . Go figure. How bout this ….an idiot is an idiot no matter what color or what kinda teeth they have … And all of you that brought up race we’ll I hope you have a miserable rest of your lives with lots of painful events .

    • drunkenjunk - May 15, 2012 at 6:11 PM

      +10000000000000

  15. playin2x - May 15, 2012 at 2:47 PM

    25 mil and he’s broke … I wish I can have 1 mil this guy is a tool … Way to squander millions … And what happened to the 3 mil from china during lockout … How about investing in a financial advisor and not lambos

  16. furio2929 - May 15, 2012 at 2:51 PM

    No race card here. Just wishing I had that kind of money. It must be easy to loose it all when you don’t have an accountant.

  17. dgiangrande98 - May 15, 2012 at 3:00 PM

    Guys can we try and avoid the race card? We are all grown ups here

  18. 00maltliquor - May 15, 2012 at 3:17 PM

    J.R. Smith…broke?! Why am I not surprised?

  19. dgforreal - May 15, 2012 at 5:25 PM

    True or not, this type of news can’t be good for any contract negotiations.

  20. brownsfan5505 - May 15, 2012 at 6:53 PM

    Poor guy…..seriously who could live on 2.5 million….what a effin idiot

  21. What's Eating Harlem - May 16, 2012 at 12:32 PM

    There’s a different kind of broke, his kind-of broke, he might have to start selling some things your kind of broke is maybe I have to start stealing some things!

  22. aliwg - May 19, 2012 at 10:21 AM

    Reblogged this on Angry Long Island White Guy and commented:
    Well, this report certainly doesn’t surprise me.

  23. kavika6 - Apr 27, 2013 at 1:54 AM

    Those tattoos must be expensive. He probably also has a paid choreographer to teach him new ways to celebrate every time he makes a basket.

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