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NFL Players Should Be Paid: A Case Study

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NFL players often times end up going bankrupt because they are not well educated on how to manage their money well. They make great amounts of money as pro athletes and some do not know how to manage this money or how to save it. Some do not take any advice about how to invest their money. Others are influenced to make poor decisions on spending money, especially money they do not have. Pro athletes get so used to making millions of dollars that they often times get so used to certain lifestyles that are unnecessary and are slowly leaving their pockets empty.Spending money on items such as new cars, expensive homes, clothes and shoes. Studies have shown that one of the main reasons why they spend like crazy is because a football player's life …show more content…

Whenever guardians, college boards, and alums screen forthcoming operators and money related organizers, it empowers the competitor to settle on a superior decision. Like many other college student they were not well educated on saving money or how to handle it. Steignberg, L. (2015, February 9)
The NFLPA has attempted to ensure players financially. They have a program that investigates budgetary organizers and just permits referrals to the organizers who they support. The NFLPA offers instruction in the money related zones in an assortment of ways. Before athlete's sign in to go to drafting they are encouraged to pick a qualified professional adviser to aid them with their money and create a budget. Young NFL players not knowing what to expect are asked by financial advisors to sign power of attorney which allows them to withdraw money and make investments without the consent of the football players. Some other problems that these young athletes face is lack of preparation for their second career after retiring and also lack of awareness in realizing how rapidly their sports career can be terminated. This can be due to death, injury or lack of skill. Some early years after retiring are wasted due to the fact that a plan was not created of how they would support themselves or what their new upcoming career afterwards …show more content…

NFL quarterback, Charlie Batch, actually went bankrupt after his retirement from the NFL for investing money in real estate and losing most of it. He filed for bankruptcy protection in December of 2010, this occurred after his real estate venture defaulted on a $1.15 Million mortgage with Dollar Bank. Some of the property held by his company were actually placed into receivership. A judge allowed for a Real Estate company to pursue a claim against Batch ranging of a worth of $820K and that could actually cost him to give up both of his

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