When the 2011 NFL draft picks show up at the NFLPA*-hosted rookie symposium (known formally as The Business of Football: Rookie Edition), they’ll receive financial information from a guy who made plenty of money while winning three Super Bowls in less than 10 years.
Hall of Fame coach Joe Gibbs will address the rookies regarding the critical issue of managing their money.
“We did kind of a pilot study with the Redskins,” Gibbs told Nate Davis of USA Today. “I really felt like the guys that participated really, really benefited. They were really excited about it. Having seen that, I starting thinking, ‘Wouldn’t it be great if we could take this throughout the league.'”
Gibbs became sensitive to the issue after concluding that plenty of players who want new contracts want new contracts because they need a new infusion of cash. “A player would be upset with his contract, we’d be in serious discussions,” Gibbs told Davis. “And during the conversation, it dawns on you, ‘Are you in financial trouble?’ That happens over and over again.”
Unfortunately, half of the incoming rookies won’t be privy to Gibbs’ advice. Davis reports that roughly 125 of the 254 draft picks will attend. It’s more than we thought would show for the non-mandatory session, but they all should be there. If/when the NFL’s version of the event returns in 2012, the league should require any players who didn’t attend the NFLPA* version to join the next class of first-year players.