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P.J. Washington explains how he spends, manages his NBA salary

PJ Washington was the 12th pick by Charlotte. (NBA Photo)

By LARRY VAUGHT

Ever wonder what a NBA rookie might do with his money his first year in the league?

My guess is almost everyone has and former Kentucky standout P.J. Washington, now a rookie with the Charlotte Hornets, shared some of his spending habits during an interview with “GQ My First Million” series.

Washington played himself into a lottery pick when he averaged 15.2 points and 7.2 rebounds per game for the season and was clearly one of the nation’s best players the final half of his sophomore season.

Washington has been better than some expected for Charlotte this year. He’s started 57 games and averaged 12.2 points, 5.4 rebounds and 2.1 assists per game. He’s also hitting almost 38 percent from 3-point range.

He has a four-year contract worth about $18 million, including nearly $4 million this year. No surprise he’s being cautious with his money based on what I knew about his parents, Sherry and Paul, along with P.J. He told GQ 80 percent of his salary goes into savings and investment accounts.

He has made some nice expenditures. He bought him a Porsche and a Range Rover. He got a Tesla for his younger brother. Those three vehicles cost him about $400,000 he said.

He keeps two apartments in Charlotte — one for him and one nearby for family members when they are in town to visit or watch him play. That’s costing him about $60,000 this year.

Biggest shocker to me was that he has spent about $80,000 on clothes. That’s a lot of money but maybe not for a NBA player. Same with $45,000 for jewelry. He even paid $5,000 for his dog and spent another $8,0000 on tattoos something most of us would or could never do.

However, he’s got a sound financial outline. He’s planning to buy a house and would like to eventually own a car dealership and there’s no doubt in my mind he’ll take care of his financial concerns as well as he has his basketball concerns.

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  1. I hope he doesn’t end up like Antwoine Walker. Hopefully, PJ’s dad will help him with that.

    1. Don’t think you have to worry. As noted in the article, 80 percent of his salary goes to savings/investment. That’s how you keep your money

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