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I am not saying Reed is ballsy for doing it but it is not that much money to him. He said he is making more from his investments this year than from his racing.
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that is exactly why it is ballsy. he made more money on his investments than from his racing. but his investments would be null if not for his racing. he was betting on his racing, confident, ballsy.
Cant believe people would get on here and attempt to diminish Reed's wagering 300-large on a title when anyone whos lined up at a gate realize the odds of shit going wrong.
Don't know about his type of policy, but if it's like mine it'll be tax free. I'm betting it is.
Which is cool!
Very cool.
To someone that makes millions $300K is like $4,000 to the rest of us. For double your income its risky but if you are a top performer its pretty much a no brainer.
I.e. Big deal. I hope his team shared in some of that wealth.
To be honest...
I would have had a hard time even wagering $300.00 on Chad with RV & Alessi racing.
The dude is definitely confident and believes in himself.
He is making money off of his investments whether he races or not. He was not talking about this particular gamble.
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I doubt with his so called "ILLNESS" lurking right around the start of the series he would throw down that much cash... unless it doesn't mean that much to him.
I, in no way, bashed Chad, he was my pick to win from the beginning of the MX season. I like Chad I just think he should have NO trouble investing 300K to make 1.5 million in this particular situation.
Why wouldn't he bet on himself? Why? The only guys he's lost to outdoors, Ricky, James and KW, aren't out there. I don't know, there wasn't anyone else I thought would beat him over 12 rounds.
We are talking about a guy who's been making 6 figures probably since '02 and 7 figures since '03; 6.5million in '04 around 9 million in '08. He says this year he's made as much as he ever has and you all are impressed by 300K. Wow.
Listen, from my point of view, if Chad "isn't" thinking that way there's a problem. Shit, I think that way and I ain't got no where near 300K.
We aren't talking about Ivan or Josh, etc. betting 300K on themselves. That, I would be impressed by.
Rapper Jay-Z is worth a reportedly 500 million dollars. He gave the American Red Cross 1 million dollars after Hurricane Katrina. While I think it's great that he gave; how much of a percentage is it of what he's worth?
I guess I'm not impressed because I expect Chad to be thinking exactly that way.
And some here think CR is dumb. Its about time MX got back to having smart, legit people involved. Tat's and stupid hats lost that demographic years ago.
Knowing Bauer, I wonder if what he has blabbed all over the net is fact or possibly privy information he cant keep his name dropping mouth from spouting.
And you're also talking pre-tax income.
Talk like this is exactly why the message boards get a bad name.
if so, I bet that they showed him how these policies work and also take a piece of it...maybe even payed part of the payment in exchange for the return.
correct me if I'm wrong, I certainly could be.
dd
Chad does better when he's under huge pressure.
Chad threw out the gauntlet by betting on himself and hung a carrot in front of James, but James still didn't come out and race. not even a single round, like he said he would.
Chad bet on himself with Alessi, James, RV, etc all capable of racing and beating him.
Chad took out Lloyds on himself, James bought more cars.
Tiger is a pimp, and did huge things for the sport of golf. The economy can suck and he is still bringing in huge profits for any tourney he is entered in, and on TV>
“I’ve always done it, and most riders do it,” Reed says of taking out the insurance policy. “And if they don’t, they’re stupid -- or they just don’t have any confidence in themselves, or they aren’t in a position to win. But how much it costs is based on the riders, which is why some of the lower-ranked teams can offer huge bonuses, because it’s a big gamble, and for those guys to go win on those lower teams, it’s highly unlikely. For me, with my Lloyd’s thing, it’s difficult -- really difficult. With my track record of being consistent and being there week-in and week-out, I’m a high risk for them as a guy who can win races and championships. So there were a lot of terms and conditions in my policy that I didn’t necessarily agree with, or was pumped with, but I had no say in the matter. For example, if I’d have won this championship, but didn’t achieve three overall wins, I would’ve gotten no money at all. There was a stipulation that I had to win a minimum of three races, and a few other things in there as well. And I bought this policy when Ryan (Villopoto) was there, when I thought James (Stewart) was going to race, when I thought (Mike) Alessi was going to be there all year long, and it cost a good 300 grand to purchase it.”
Although he wouldn’t say how much it paid off now that he has fulfilled the obligations in the policy, Reed did say that it was the most he’s ever gotten for a championship, and “well over two (million dollars).”
The bottom line is that MX is a small community and EVERYONE in the industry knew that James wasn't going to race the series whether he wanted to or not.
P
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