As the NFL work stoppage continues with no end in sight, some cash-strapped players are taking out high-risk, high-interest loans to get them through the lean times — some as big as $250,000 with interest rates as high as 30 percent. Players make their entire salary during the regular season, and many rely on offseason workout bonuses to get them through the spring and summer. With opening day — and their next payday — uncertain, some are turning to lenders like AGR Sports Funding, a Virginia-based firm that specializes in lending to professional athletes.
Jason Yorker, owner of AGR, likes to think of himself as a lifeline for NFL players. When cash gets tight, they can turn to him to borrow, as he puts it, “a couple extra hundred thousand dollars here and there.”
CARRY ON
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