D-Backs Prospect pays off Parents’ Mortgage- So What?

At this time of year, we usually hear some great tales of generosity and giving, and this season was no different.

One of the most circulated of these stories was a video posted by Arizona Diamondbacks prospect, and 2017 1st rounder, Pavin Smith.

Smith gave his parents a letter, which may or may not have been some type of rudimentary poem, that they read aloud. The gist of it is, the young man paid off his parents’ mortgage so their home could belong to them.

Speaking as a parent, this is like, the absolute pinnacle of parenting. You hold that little bugger for the first time and you’re 90% thinking “Oh Shit, what do I do with this kid”…but a solid 5-10% of you is thinking- “Sky’s the Limit”. If you’re really a big dreamer, you may think Nobel Prize winner, President, cure cancer….but more thank likely it’s- This kid is going to take care of me.

So, the parents are super touched and proud. Good for them. Must mean an automatic “Atta boy” for Smith, right? To quote the great Lee Corso: “Not so fast, my friend”

I don’t like to take anything at face value. So, I’m going to go ahead and break this down a little bit.

mortgage

Pavin Smith is from Jupiter, Florida. The median home price in Jupiter, according to Zillow is just under $341k. I found some records that indicate the Smith’s home was purchased in 2000, so it’s a stretch to assume they owe anything relative to this value. But even if we pretend they just bought the home, and borrowed 80%, you’re looking at about $273K. The likelihood, is that they would owe significantly less than this.

Pavin Smith signed in June as the 7th overall pick, and received a signing bonus of over $5 million. If we assume, most liberally, that the $273k is what the parents owe, this is a gift of roughly 5.5% of this kid’s bonus.

An agent will get between 3-6%. And agents don’t drive the kid all over Florida to various Little League, Babe Ruth and AAU games and showcases, at considerable cost and sacrifice like most parents of highly scouted athletes do. They don’t pay for camps, and private coaches, and advisors….

So this kid was just like, “I’m going to give my parents basically the same share as some lawyer I just met and who maybe got me a little more than the pre-determined “slot” for my draft position.

Oh, and instead of doing it right away, I’m going to wait until Christmas, and post it on social media because I need to continue to live up to the billing I’m beginning to earn as a ‘good twitter follow'”.

Weak, Pavin….weak. If you did this when the check came in in June, that’s 6 months of $ you’re parents wouldn’t have had to blow on interest. You can’t get that shit back, Pavin….it’s not PRINCIPAL…IT’S INTEREST. Guess you didn’t take economics at UVA.

And what about the round of golf for your dad, and the nice sweater for your mom that are your standard gifts every year? Your parents count on those. And I’m sure when you cut the 6 figure check, you just forgot about those gifts.  Now, next time you golf with your dad, I’m sure HE’LL pick up the tab?! You just keep costing these people money!

So, Pavin Smith…nice try. At face value this seems like an incredibly generous gesture. But as I think we’ve proven, not everything is as it seems.

 

 

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