Oscar De La Hoya Sheds Excessive Entrourage, Gains $400K

Entourages and athletes go hand-in-hand. So it’s great that a Wall Street Journal article points out that instead of living off their dime, athletes like LeBron James and Sacramento King Mike Bibby are now making their lackies work for their weed money. To do that, they create companies that employ the friends, like Oscar De La Hoya’s Golden Boy Productions, which recently had to shed 10 employees to save $400 grand. That should be helpful when bills for lawyers and settlements come due for the Golden Boy himself.

Oscar de la Hoya is saving nearly $400,000 a year in food, housing and travel expenses after dropping 10 entourage members, mostly good friends. One charged an additional $2,500 every time they went to a public event, with as many as 30 events a year.

“It was a waste of time and a waste of money,” says Mr. de la Hoya, who still employs some 50 people but keeps only his CEO, COO and vice president by his side. He does miss the fashion tips. “Sometimes my friends tell me, ‘Man, you don’t look so good.’”

Finally, at least we now have an explanation for this.
Entourage Economics [WSJ.com]
Image [nydailynews.com]