Phillip Buchanon : Former Oakland Raiders first-round draft pick says mom asked for $1 million after he was drafted

Phillip Buchanon : Former Oakland Raiders first-round draft pick says mom asked for $1 million after he was drafted

After Phillip Buchanon was taken by the Raiders with the 17th overall pick in the 2002 NFL Draft, one of the first people he heard from was his mom, which makes sense because she’s his mom.

In his new book, “New Money: Staying Rich,” former Raiders first round pick writes about some of the pitfalls of becoming a multi-millionaire athlete essentially overnight.

Buchanon details first-hand experiences of “‘fun friends’ and family (who viewed him) as an endless ATM.” And he’s hoping other athletes will learn and benefit from his mistakes.

Buchanon gave FOX Sports an exclusive excerpt from the book about the unexpected monetary request from his mother. Here are some clips:

Soon after the draft, she told me that I owed her a million dollars for raising me for the past 18 years.

Well, that was news to me. If my mother taught me anything, it’s that this is the most desperate demand that a parent can make on a child. The covenant of having a child is simply that you give your child everything possible, and they owe you nothing beyond a normal amount of love and respect.

My mother had said my debt to her was a million dollars before, but this time she was more serious than ever. If you do the math, one million dollars divided by 18 years of raising me was approximately $55,555.55 a year in restitution. Except, at age 17 I decided to move out of my mom’s house, choosing to live with a close friend and his father because I no longer felt secure in my own home. Why, you ask? Because my mother let people come in and out of our house and take what they wanted. So technically, even if we went by her logic, I only owed her $944,444.44 for her services over 17 years.

Buchanon said that he bought his mother a house and asked her to sell her old one. She declined and he continued to make mortgage and maintenance payments on both homes.

He writes the expensive lesson he learned is if he buys big-ticket items for loved ones, he must make sure they can make the payments on them for the foreseeable future.