Comments on: Why Many NFL Players Fumble When it Comes to Personal Finance

By: Julie

Julie — Tue, 09 Feb 2010 15:43:05 +0000

As usual, the credit for the undereducation of professional players in sports lies squarely first at the High School level. Then, the majority of the blame can be laid at the College/University level. Everyone, from the parents, coaches, and, especially, the people who make all the decisions regarding curriculum; these include the deans,alumni, and in some cases, the professors themselves, who, for the most part, are pressured to “go along to get along”. I have even heard cases where it was intimated that tenure may be in jeopardy if the teachers/professors speak up for the student’s own good or refuse to “give the student athlete a break” regarding grades.
Finally, let’s look to the Professional Sports Organizations themselves. First, it was the MLB, then the NBA, and finally, the NFL who allow players to be drafted before their degree is “earned” I consider that they did the most damage, because NFL athletes have a much shorter career overall because of the nature of the game of football itself. I won’t even go into the subject of the NHL and the sheer brutality within the very rules of this so-called “game”. Until things change at the top first, the problem of financial stability, as well as the the future viability of the players physical well-being as the years go on will increasingly become untenable.. I truly believe that if children as well as the parents at the grade school level are taught the real truth of sports participation, they will understand all the risks as well as the benefits, especially at the professional level. where most of the disability occurs..This is another problem that needs to be addressed: that players future medical needs are met, no matter at what level they occur. Funds must be allocated to ensure that when a player gives their “all”, as was recently illustrated by Bret Favre’s heroic play during the NFC championship, that the League gives their utmost to address any phsical needs the player will have in the future because of the overstress and strain put on the body of the athlete that, under normal cicumstances, would never be tolerated, regardless of the “top” physical shape in which they keep themselves.
Listen, my husband and I are sports enthusiasts, and we were as thrilled as anyone when our Saints won the Superbowl. But, at the same time, we appreciate anything that can be done to lessen the probability of players getting hurt, regardless what team they play for, ours or theirs. I have been a fan of Bret Favre since he played college level, since he grew up in Kiln MS, which is only about 70 miles from where I live. I wanted so much for the Saints to draft him but it was not to be. When the Vikings played down here in the Superdome against our Saints, I can honestly say that I prayed he would not get hurt. & breathed a sigh of relief when he got right back up.What a guy!

By: Daniel Chew

Daniel Chew — Thu, 22 Oct 2009 09:11:52 +0000

That is terrible. I thought they would be earning more than a meagre 1.5M. Goes to show that many things are not what it seems. Some people may look rich but they are not and those who are rich does not look rich at all.

By: FB @ FabulouslyBroke.com

FB @ FabulouslyBroke.com — Sun, 18 Oct 2009 23:06:00 +0000

Goes to show that personal finance know-how is required at ALL levels of income.

The same analogy can sort of be used for many investment bankers.

They burn out after 2-3 years, and while they make some CRAZY money during that time, they’re exhausted in the end, having essentially worked the equivalent of 2 jobs.

By: Credit Card Chaser

Credit Card Chaser — Wed, 14 Oct 2009 03:56:00 +0000

Wow, the “average NFL career is 3 seasons”! I never knew that but I guess with as many injuries as there are then it makes sense.

By: Patrick

Patrick — Wed, 14 Oct 2009 00:39:42 +0000

I heard something similar mentioned in passing on ESPN a few weeks ago. It's an unfortunate truth about the game. The NFL is one of the few major sports that actually requires rookies to attend a financial seminar, but my guess is the majority of them blow it off. That's unfortunate, because the NFL has one of the worst professional sports pension plans. The MLB has the best by far, and their careers tend to have less devastating ends. The moral of the story is this: if given a choice, choose pro baseball over pro football!

By: Studenomics

Studenomics — Mon, 12 Oct 2009 20:56:50 +0000

“Almost 80% of NFL athletes are bankrupt after two years of being retired” that is just down right scary.These guys are so flashy when they are young. They have it all. Fancy cars, big homes, indoor pools, etc. Then at the end of the day they have less than us. A personal finance disaster in my eyes.