Skip to content

Klay Thompson’s dad will cut his allowance after league fine. I’m not kidding.

Mar 1, 2013, 12:59 PM EDT

Golden State Warriors' Thompson moves with the basketball while Indiana Pacers' George defends him during an NBA basketball game in Indianapolis Reuters

Klay Thompson is 23, a part of the young core of the Golden State Warriors, a guy who already is considered one of the league’s better shooters. He’s still on his rookie deal, so he’s “only” going to make $2.2 million this season, and not much more next season.

He’s going to make a little less this week — the league fined Thompson $35,000 for his involvement in the dust up with the Pacers this week.

But Klay won’t notice because doesn’t get his bi-weekly checks from the Warriors anyway — they go to his father, Mychal, who gives him a weekly allowance. Seriously. And is dad is going to cut his allowance after that fine. Just for the record again, Klay is 23.

Mychal — the former No. 1 overall pick and part of the Showtime Lakers who is now a Lakers radio broadcaster — has said on the air in Los Angeles more than once that he gets Klay’s checks and puts them in the bank then gives his son a $300 a week in spending money. The elder Thompson takes care of all the bills.

CSNBayArea.com had excerpts of a recent Mychal radio broadcast talking about his son’s finances.

“He will [figure it out] when he sees that cash envelope show up a little short this week,” said Mychal, a two-time NBA champion in his own right.

Mychal, while watching the ruckus unfold, was hoping Klay wouldn’t lose his temper and get involved.

“Then Roy Hibbert turned his back & [Klay] was like ‘now’s my chance’!” Mychal said. “I was like ‘you idiot’!”

On some level, I wish more parents would do this for their NBA player sons — or could be trusted to do it without blowing the money. Far too many NBA players start living like they’re Jay-Z once the game checks start rolling in, living basically paycheck-to-paycheck. The average NBA player is in the league less than five years, those checks dry up and then there is nothing left. It would be great if someone helped more of those young players build for their futures (some do, it should be noted).

But Klay Thompson has not only his rookie deal but also a couple nice contracts coming after that — if you can shoot the rock you can play in the league a long time. Klay is averaging 16.2 points per game this season (better than his father’s career average of 13.7) and is shooting 38.1 percent from three (but just 41.4 percent overall). At some point, once there is a nice next egg built up, Klay should take charge of his own finances. Just an idea.

  1. abchome - Mar 1, 2013 at 1:16 PM

    Geee…How could you be a MAN getting $300 per week from your parents…

  2. thraiderskin - Mar 1, 2013 at 1:17 PM

    better than him being bankrupt in 5 years, but still a little odd.

  3. stayhigh_247 - Mar 1, 2013 at 1:25 PM

    At first i was like wtf, but when u think about it, its a good move. A 23 year old with millions is a recipe for disaster, but dad shouldnt be telling dudes business to the world, thats embarassing

  4. hoosiercolts - Mar 1, 2013 at 1:29 PM

    This is both very awesome and very odd.

  5. thesixersbench - Mar 1, 2013 at 1:31 PM

    ProBasketballTalk aka “One Day Behind ‘The Basketball Jones’”.

  6. mbhcu98 - Mar 1, 2013 at 1:45 PM

    Or, here’s an idea………. PBT can mind it’s own business. Report the story but, who cares what you think SHOULD happen. I think it completely and blatantly obvious Mychal is teaching his son the value of a dollar. If Klay has no problem, no one should.

    • ryanrockzzz - Mar 1, 2013 at 2:55 PM

      Why it’s a blog? It’s all about saying what you think things should be.

  7. Kevin S. - Mar 1, 2013 at 1:51 PM

    Yeah… not crazy about the set-up. From personal experience, I know that family relationships can become damaged when they have financial dealings with each other, and it doesn’t have to be because somebody made off with somebody else’s money. Hire a financial adviser to handle your money if you don’t trust yourself to do it.

    • skinsfanwill - Mar 1, 2013 at 4:23 PM

      Ask Vince Young how that worked out?

  8. jessethegreat - Mar 1, 2013 at 2:04 PM

    Pops is setting the kid up for financial success down the road… But the overall goal of a parent should be to prepare their children for a successful life long after the parents are gone and can no longer help out. Teach the young man to live responsibly on his own.

    Probably better at this point to just buy annuities. It would be very easy for the kid to stock 80% or more away in annuities and still live comfortably within his means 2 mil – 1.6 mil would still give him 400k to life off for the year. Even 90% would be very feasible if he’s content not trying to keep up with the jones family.

    • badintent - Mar 3, 2013 at 12:49 AM

      Or he could own over 100 Denny restaurants like OH or 100 + Wendys like Junior Bridgeman and hire all ex-NBA players to make the fries.

  9. noahbird - Mar 1, 2013 at 2:05 PM

    In Cali, $300/week is like one big trip to whole foods. If that is cut he is gonna starve. Haha

  10. manwithpizza - Mar 1, 2013 at 2:14 PM

    Wow each individual NBA player has their own Jay-Z, huh? Not their own Jay-Z album but their own Jay-Z!

    .

    “Far too many NBA players start living like their Jay-Z”

  11. tientzu1 - Mar 1, 2013 at 2:15 PM

    2 mil taxes. Plus they get taxed in every city/state they play in during the year. So $2 mil is probably closer to $1 mil before expenses….jussayin

  12. sageandjudahsdad - Mar 1, 2013 at 2:25 PM

    Don’t forfeit the agent. He’s getting $200,000
    I bet Allen Iverson wishes his daddy helped him out in growing up to be a responsible man!!
    Good job Mychael!!!

  13. losanginsight - Mar 1, 2013 at 2:35 PM

    somewhere Antoine Walker is smiling

    • fatcamper - Mar 1, 2013 at 3:14 PM

      Unfortunately that somewhere is my backyard. I’m having a really had time getting that squatter to leave.

      • dko83 - Mar 1, 2013 at 4:54 PM

        Awesome. Take all bets he offers you, fatcamper.

  14. jebdamone - Mar 1, 2013 at 2:51 PM

    i think this is great but $300 dollars a week?

  15. edwardemanuelson - Mar 1, 2013 at 2:54 PM

    Wow. I have absolutely ZERO problem with anything about this story. I think it’s great that Mychal is looking out for his son’s finances – and I think it is also great that he made a bit of an example out of his son on the air (“you idiot”!). Less money in his hands, less problems. He’s only 23 anyway. Keep the spending down. Mychal had a fairly long career, he’s seen it before.

    Klay seems like a nice, talented kid, and might think twice and just walk away next time.

    “You only need one chain, not the Mr. T starter set!” -Herm Edwards

    Great story all around.

  16. jkiddingme - Mar 1, 2013 at 3:16 PM

    Money comes, money goes. So you gotta blow it like a runny nose! Somebody should tell Papa Thompson that you can’t take money with you when you leave this world gotta spend it while youre here and save a little for your kids

  17. ermur22 - Mar 1, 2013 at 4:33 PM

    Yea NYC too. You can’t survive on 300 dollars a week even if he pays the bills, unless he never goes out, dinners, nightlife nothing.

    • beavertonsteve - Mar 1, 2013 at 4:56 PM

      I’m guessing that’s the point.

    • stoudemelo - Mar 1, 2013 at 4:57 PM

      You know the Warriors pick up the tab on most of his expenses while traveling including food

  18. 00maltliquor - Mar 1, 2013 at 5:22 PM

    So….when’s he gonna grow up and be a big boy? He’s way too old the be having Daddy doing this. But hey, if it works for him, who am I to say, right. I get where Mychal is coming from and all, but….strange. Just strange.

    Does he have a curfew too?

  19. kinggw - Mar 1, 2013 at 5:34 PM

    Call me crazy but Im one of the few that thinks this is a silly idea. Getting an allowance doesnt teach the younger Thompson how to responsibly manage his money.

    There are people twice his age who still dont how to manage their money. Witholding money doesnt necessarily guarantee that he will be a responsible with his funds at a later age. The more they treat him like a child, the more apt he is to act like one. At 23, Klay needs to start making some of his own decisions. I know his father means well, but I dont think he’s helping his son. I worked at a university and saw kids who were graduating from college who couldnt even write a check or do their own laundry because of helicopter parents. Part of being a man is making mistakes and learning from them. The elder Thompson is unintentionally retarding his son’s growth. Time to let him grow up.

  20. cameltoehoe - Mar 1, 2013 at 5:43 PM

    Parleying a medicre NBA career into a comfortable TV analyst job is commendable. I’m going with Daddy Thompson. I would def get a watcher to watch the watcher of finances though.

  21. kb2408 - Mar 1, 2013 at 6:05 PM

    I think the Thompson’s are very smart. If I’m a young millionaire I think I’d rather have someone I trust explicitly with my money than an accountant or advisor.

  22. birdsflynorth206 - Mar 1, 2013 at 6:19 PM

    So does the younger Mychel Thompson get a allowance to? He plays pro ball as well

  23. djohnson11882 - Mar 1, 2013 at 6:19 PM

    He is 23 years old, so this is his idea also, it’s not like the warriors send his dad the check every week. I think he is smart to give his father the money if he doesn’t trust himself t this point. Once he has enough money saved up I’m sure things will change, but for now he is smart to know that the checks are one injury away from not being cashed. Bet he never winds up on “Broke.”

  24. scar323 - Mar 1, 2013 at 6:59 PM

    Mychal is a radio personality in LA and he has spoken of this openly in the past. He didn’t force anything on Klay, this was Klay’s decisions to have his father manage his money. This is no different than having a financial adviser, except that this adviser isn’t on the payroll and is not a yes man.

  25. cmart0907 - Mar 1, 2013 at 7:26 PM

    That is freaking insane!!!!! 300 bucks a week? His father have to realize he is not 16. He has too let him grow up.

    • scalfor3 - Mar 2, 2013 at 2:11 PM

      I wish I had $300 a week when I was 16

Leave Comment

You must be logged in to leave a comment. Not a member? Register now!

Featured video

Stephenson goes elsewhere for his future
Top 10 NBA Player Searches
  1. K. Love (4420)
  2. L. Stephenson (3653)
  3. L. James (3508)
  4. C. Boozer (3212)
  5. A. Wiggins (3176)
  1. R. Allen (3144)
  2. K. Bryant (3003)
  3. E. Bledsoe (2918)
  4. D. Rose (2769)
  5. D. Wade (2383)