Star athletes become trophies banks covet as salaries skyrocket [Business News Network (BNN) Energy & Resources (Canada)]
Royal Bank Of Canada (RY)
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Source: Business News Network
Star athletes become trophies banks covet as salaries skyrocket 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 that 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, Colorado. “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 child-friendly.” To help him avoid bigger lures and protect 14 years of NHL earnings, Liles said he has relied on Royal Bank of Canada ( RY
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