As star athletes’ salaries skyrocket, they become trophies that banks covet [Financial Post (Toronto, Ontario, Canada)]
Royal Bank Of Canada (RY)
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Source: Financial Post
As star athletes' salaries skyrocket, they become trophies that banks covet Money managers, big and small banks, and boutique firms vie for the millions they can invest for pros who want a personal touch John-Michael Liles knows the temptations that can accompany a lucrative NHL contract. His came in the form of a ’69 Chevy Camaro. Back when the retired defenceman was a rookie in 2003, he was wowed by a muscle car owned by a Colorado Avalanche teammate. Liles vowed that if he ever landed a big National Hockey League contract, he’d build the same custom Camaro. Five years later, the Indiana native signed a four-year deal with the Avalanche — then proceeded to fritter away US$100,000 on a yellow convertible with black racing stripes. “I probably spent more money on it than I realistically should have,” Liles, 38, said in a phone interview from his home outside Vail, Colo. “It was a great car and I loved it, but at some point I had to become an adult. I have two kids and it’s not exactly
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