Style - Kicks and Gear / Aug 18, 2013 / 9:00 pm
J.R. Smith Buys $450,000 Armored Vehicle From “Fast Five” Movie

By Spencer Lund
Gurkha F5 (photo. Terradyne Inc.)

Gurkha F5 (photo. Terradyne Inc.)

The 2012-12 Sixth Man of the Year J.R. Smith signed a three-year $18 million contract (originally reported as a four-year $24 million deal) to remain with the New York Knicks this summer. Now we know of at least one purchase since the new deal.

Page Six reports that Smith showed up at Meatpacking District restaurant Catch on Thursday night behind the wheel of a Gurkha F5 Armored Vehicle. Made by Toronto’s Terradyne Armored Vehicles for the military and police, the Post says the armored truck costs $450,000.
/

After taxes, which is about 42%, thats 3,480,000. 2% for agent? another $70,000.

Dummy just spent 13% of a years salary on a car.

Ok, in the most likely scenario he finanaced a good portion of it, might even get to write off a decent amount as "protection" given he is a public figure of sorts. I don't know the market for these things but they will retain value so lets say 50 cents on the dollar after 3-4 years.

Don't know if he even keeps it that long.

But keep it a year it will still cost him $100,000.

What we know is he has had money problems before, might even have a bit of debt. This car alone won't hurt him but im sure Earl Sr. wants some to live on, and who knows what else.

Point, this might be his best contract, one never knows. Im going to guess He won't make this kind of money elsewhere and even if he goes into "coaching", its not a bad gig, but not like this kind of money!

Cars, babies, houses, lifestyle eat a lot of cash. I hope he knows what he is doing.

He is paid to perform, thats all that matters. Stay healthy and keep it real on the court and the money flows nice.

BRIGGS wrote:As long as he buys a home for cash--hes all set to do what he wants. If you secure where you live--then why not spend the money the way he wants its his money! By a home for 2mm and put another 1mm in the bank that wont be touched--the rest--live your live while you are young.

If thats what he is doing, its good.

Does that sound like him?

I get it that "health" is the most important and while I don't know you that well you have intimated in the past about your health so understand your position. I have been to hell and back and while I enjoy my life I also don't want to worry about money going forward, or fall back from a certain lifestyle, so I pace myself.

Thats my position. we all come from a different place!

If JR was my son, I'd have some serious discussions about sustainability and life after basketball.

BRIGGS wrote:As long as he buys a home for cash--hes all set to do what he wants. If you secure where you live--then why not spend the money the way he wants its his money! By a home for 2mm and put another 1mm in the bank that wont be touched--the rest--live your live while you are young.

Papabear Says

One million today for him ain't alot of money. He will go through that in less than a year.

Papabear wrote:

BRIGGS wrote:As long as he buys a home for cash--hes all set to do what he wants. If you secure where you live--then why not spend the money the way he wants its his money! By a home for 2mm and put another 1mm in the bank that wont be touched--the rest--live your live while you are young.

Papabear Says

One million today for him ain't alot of money. He will go through that in less than a year.

If you pay off your home and put 1mm to the side --lets say in RMB(Chinese currency) that yields 3+% compounded daily--and have fun with the substantial left over money--I believe he makes 6mm per---at 63% he should net 11.34mm over the three years--he puts 2mm into a home 1mm into the bank allocates another 600k for the next two following years to be put into savings--that would leave him with 7.1mm net to play with while at the same time ensuring that he will be secure for his long life ahead. This asset--as long as its taken care of properly should hold value longer term if he doesnt beat it down and if hes smart and finds an address in--lets say Florida for example--he can register the vehicle and not pay any property tax.

But if he did - that's ok as long as he is not buying a lot of cars/things like that that he can't use...