For Warriors' Ellis, X's and O's of Money

Rookie Has Wealth of Talent, Riches

OAKLAND, Calif. Monta Ellis peeked inside the Golden State Warriors' players lounge after practice one afternoon and spotted something he just couldn't resist. "Oooh, peanut butter cookies," Ellis said with a sly grin before snatching three.

The snacks already were devoured by the time he strolled out of the practice facility and climbed into his car. And what a car it is -- a black 2005 Cadillac Escalade EXT tricked out with custom "spinner" rims, a navigation system, a television, leather interior and a megawatt speaker system.

Ellis punched a few buttons on his stereo and found the suitable soundtrack -- southern hip-hop music -- for the 10-minute drive home to the four-bedroom house he's renting in Alameda, Calif. He pumped up the volume and hopped on Interstate 880, bobbing his head, slightly oversize baseball cap tilted to the side.

In many ways, Ellis looks like any other NBA player enjoying the excesses that come with being a young, professional athlete, except there's one catch: He's a baller on a budget.

"I can't go crazy 'cause I was a second-round pick," he said. "We get paid, but not like most guys."

Ellis is among the last group of high school players who were allowed to go from playing for free to playing for a hefty fee. Concerns over how young players handle their fiscal responsibilities helped contribute to the NBA's new age minimum of 19 years old. The NBA's rookie transition program, which is administered by the player development departments of the NBA and its players' union, provides lessons on such life skills as personal finance, and Ellis appears to be an apt student.

The Escalade is one of his few extravagant possessions -- and he's actually been driving it since the last few months of his senior year at Lanier High School in Jackson, Miss., where he packed high school gyms all over the state. The slender, 6-foot-3 guard racked up 4,167 career points, breaking the city scoring record once held by Chicago Bulls center and former Georgetown star Othella Harrington by about 1,000 points, and was featured on a billboard in the city that read, "The Greatest Show on Hardwood."

Ellis performed well enough to be one of the nine players drafted directly out of high school last summer, but he wasn't picked in the first round -- which would've guaranteed him at least $2.2 million in salary -- and slipped to the 40th pick. Ellis signed a two-year deal and is making about $450,000 this season -- slightly more than the NBA's rookie minimum but significantly more than he earned before: nothing.

"I continue to believe there is no more difficult adjustment than a young athlete that goes from a taxable income of zero to a strong six-figure taxable income or seven-figure, sometimes eight-figure," said Ellis's Washington-based agent, Jeff Fried, who also represents former Maryland stars Steve Francis and Chris Wilcox. "NBA players are well compensated, but it isn't an endless gravy train. No mater what level you're at, no matter how many zeros, there still needs to be a budget."

The NBA is the only employer on Ellis's résumé. He still remembers his reaction the first time he received his paycheck. "I was smiling," he said. "I was like: 'Wow! I get paid this much for really just two hours, three hours a day of playing basketball.' Most people wouldn't make that in five months on a job."

Ellis doesn't see most of his money, since a huge portion of his check is immediately deposited into what Fried described as "conservative" retirement and investment accounts. Ellis's mother, Rosa, works closely with a financial adviser in Jackson and makes sure her son takes care of rent, utilities, other family obligations and the car. That leaves Ellis with roughly $1,000 of spending money to play with each month. "I could play with all the money, I guess," Ellis said, smiling. "But this is what I got to do. This is teaching me how to be a grown man."

Ellis said it isn't too hard being on a budget, since the job is filled with perks. Each time the Warriors go on the road, the players are given a per diem of $104 per day. "And for a big trip, they give it to you all at once. You ain't got to spend it at all," he said, smiling. "You can keep all that money to yourself."