Lance Stephenson caused a lot of noise yesterday when he posted a picture of himself with a million dollars in cash. Most people thought he was just pulling a Floyd Mayweather but the cash doesn’t belong to Lance.
According to Scott Agness of Pacers.com the money was part of meeting about financial education.
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.
Lance soon removed the picture from Instagram but you can see the cash in the pic above and in George Hill’s tweet.
Million Dollars in Cash Looks Amazing!!! But What Would You Do If You Had A Million Dollars In Cash!!! pic.twitter.com/CrWddqYAhX
— INDIANA GEORGE HILL (@George_Hill3) February 26, 2014
If I had a million, I would invest in this R&B group.
For all those people that really thought Lance would have a million in cash. Lance is one of the most underpaid players in the league and this is the first season (out of 4) that the Pacers are paying a million for Lance and keep in mind that atleast a third of that went to Uncle Sam and people like agents, mangers, lawyers, etc.
He’s also been the face of And1 since late 2012 and they don’t have that type of cash laying around although they did hold a $100k basketball tournament last summer that Lance and his Born Ready team won.