Skip to content

Joe Gibbs will help rookies manage their money

p1_gibbs_getty Getty Images

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.

Permalink 37 Comments Feed for comments Latest Stories in: Rumor Mill, Sprint Football Live - Rumors, Top Stories, Union, Washington Redskins
37 Responses to “Joe Gibbs will help rookies manage their money”
  1. drgfri says: Jun 27, 2011 12:05 AM

    And Rex Ryan will help rookies manage their shoes….

  2. rcunningham says: Jun 27, 2011 12:13 AM

    And Marty Mornhinweg will help rookies decide whether to kick or receive in overtime.

  3. Soulman45 says: Jun 27, 2011 12:15 AM

    Good job Coach Gibbs these kids need to be told how and what to do with their money to live a fruitful life.

  4. goforthanddie says: Jun 27, 2011 12:20 AM

    Dammit Joe, how are the jewelers and Escalade dealerships supposed to survive?

  5. ttommytom says: Jun 27, 2011 12:30 AM

    So if I have a job because of the lockout, I need to get time off to learn how to be fiscally responsible?

    You can’t make this stuff up…

  6. ktfulmer says: Jun 27, 2011 12:47 AM

    Step one: Don’t take out 30% interest rate loans from your financial adviser. If they offer that to you, they may have their own interests at heart…

  7. egls7 says: Jun 27, 2011 12:59 AM

    @drgfri lmao true!

  8. hedleykow says: Jun 27, 2011 1:13 AM

    Joe, the fans would like to know if it’s financially prudent to charge a 30-pack to a credit card for Monday Night Football refreshements if they are already late on rent. Please advise.

  9. redskinsrt says: Jun 27, 2011 1:28 AM

    This is honestly a good idea; while there are Redskins who have spent themselves into trouble (a starting WR) there are many other lesser known guys who have put their money into positive investments. The importance of not putting all eggs into one basket is important, as players like Mark Brunell TRIED to invest his money, but put it all into failed real estate investments.

    Cliffs Notes: diversify your investments

  10. maumontav5 says: Jun 27, 2011 1:44 AM

    Really ¨drgfri¨ ?? I can’t believe you missed the mark:
    ¨And Rex Ryan will help rookies manage their weight!¨

  11. blackcatnfl says: Jun 27, 2011 2:38 AM

    And he would know about blowing all his money, since that’s exactly what Gibbs did in the late 80s. Then again, that makes him the perfect speaker does it not?

  12. krow101 says: Jun 27, 2011 6:50 AM

    I don’t know. Seeing arrogant, pampered, and often ‘not very nice’ players going broke a few years after their NFL days are over is something I look forward to.

    Like Jeremy Shockey. He’s going to be all sorts of fun. Don’t go spoiling it Gibbs.

  13. geniusesq says: Jun 27, 2011 6:59 AM

    Gibbs. Living Legend.

  14. orangeflh says: Jun 27, 2011 7:01 AM

    Perhaps Gibbs could help some of the American auto workers manage their unemployment checks since he’s doing all he can to keep them unemployed by crawling into bed with Toyota.

  15. blackqbwhiterb says: Jun 27, 2011 7:26 AM

    A good man trying to do good things for the kids who have stepped into piles of money and don’t know what to do to protect themselves from themselves….

    Hope they listen…..Wish I was there, learning how to deal with piles of $$$$$. Wish I had piles of $$$$$….

  16. ny82jy says: Jun 27, 2011 7:28 AM

    @drgfri

    Wow!! What a funny comment. We’ve never heard anything like that before lol. What the hell does ryan have to do with Gibbs helping players manage their money you idiot. What a hater!

  17. tombrookshire says: Jun 27, 2011 7:30 AM

    Only 125 of them will get any real money (relatively speaking) to manage.

  18. ny82jy says: Jun 27, 2011 7:35 AM

    I dont wanna hear about gibbs and money. To me he is one of the biggest sellouts i have ever seen. If anyone watches nascar you know what i mean. For years gibbs has had one of the top teams in nascar. He was with GM for years having run pontiacs and then chevys for a long time. Then toyota comes in and throws him a ton of money to put their crappy names on his cars. Gibbs dumped gm so fast showing no loyalty for the company that helped develop his race team for years. I now will never root for any of his three cars and i enjoy every time one of his crappy cars doesnt run well. It has nothing to do with football but to me gibbs is a sellout and he would do anything to make a extra dollar. Japanese automakers dont belong anywhere near nascar!!!

  19. godofwine330 says: Jun 27, 2011 7:37 AM

    All you can do is hope that many of the players pay attention and realize that the money that they make now has to last them their entire lives.

  20. seanb20124 says: Jun 27, 2011 7:44 AM

    If I recall, Joe Gibbs cMe Mack to coaching as his finances were a bit of a mess and he needed cash for his Winston cup team?? Do as i say not as I do!!

  21. waynefontes says: Jun 27, 2011 8:14 AM

    I guess Master P wasn’t available?

  22. melonnhead says: Jun 27, 2011 8:29 AM

    The way I understand it is that Gibbs came back to take some of Snyder’s money because his own bank account was getting really low.

  23. CKL says: Jun 27, 2011 8:34 AM

    godofwine330 says:
    Jun 27, 2011 7:37 AM
    All you can do is hope that many of the players pay attention and realize that the money that they make now has to last them their entire lives.
    –––––––––––––––––––––––––––––––
    Why does the money they make in the NFL have to last them their entire lives? I don’t see a single reason that they should feel that they are above having another career after they are done playing football. It’s not like most players are within even 30 years of a normal retirement age when they retire from the NFL. If they DO make enough to retire for good from any work ever again at 30-35 years of age, good for them but expecting that seems ridiculous.

  24. ac0117 says: Jun 27, 2011 8:42 AM

    ‘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?’’

    Wow I never thought of that but it makes a lot of sense

  25. jw731 says: Jun 27, 2011 9:01 AM

    Spurrier,Gibbs and and now Shanahan all looked at the HC job in DC and said…….”There’s gold in them there hills”…….Win or Lose, gonna get paid……And paid alot……

  26. alberthaynesworth says: Jun 27, 2011 9:26 AM

    Sign contract. Buy 10 speed boats. You know, boats. Great investments.

  27. texansmike says: Jun 27, 2011 9:35 AM

    Only 125 are going because the expense is all on them. If it were free like what they are all used to, they would attend. Only the ones who really care will be in attendance if its voluntary.

    That’s fine.

    Help the ones that want help. Should be a more productive environment anyway.

    Also, keep tabs on the names of those who choose not to attend. Chances are we will be hearing most of their names in the headlines in the not so distant future.

  28. orangeflh says: Jun 27, 2011 9:56 AM

    All the thumbs downs on the NASCAR comments must be from the 20 year olds that are still living in Mom’s basement and driving rat Toyotas with “8 horsepower coffee can” mufflers and a TV tray on the trunk.

    Enjoy your McJobs, kiddies, ‘cuz thanks to people like Gibbs (and the Chuds you call parents that failed to teach you any better) that’s all you’re ever going to get.

  29. alberthaynesworth says: Jun 27, 2011 10:41 AM

    Oh noes! Joe Gibbs! The big American job take awayer! Everybody run and hides!!!!111

  30. jw731 says: Jun 27, 2011 11:17 AM

    I love how the anti toyota fans blame Gibbs…….As if the France family, Shelton and Pemberton etc…. where held hostage..The Nascar community let Toyota in cause they needed the money……Deal with it……

  31. gdeli says: Jun 27, 2011 11:24 AM

    And teach them how to drive for NASCAR!

  32. CKL says: Jun 27, 2011 11:40 AM

    orangeflh says:
    Jun 27, 2011 9:56 AM
    All the thumbs downs on the NASCAR comments must be from the 20 year olds that are still living in Mom’s basement and driving rat Toyotas with “8 horsepower coffee can” mufflers and a TV tray on the trunk.
    –––––––––––––––––––––––––––––––––
    More likely they are responsible grown up people who own Toyotas and understand that a lot of “American” cars have a ton of foreign made parts in them while a ton of “foreign” cars are made in America by American workers so that “OMG!!1! EVILNONUNIONCOMPANIESSTEALINGAMERICANPEOPLEZJOBZ!!1!!” thing is a result of either ignorance of the composition and manufacturing of cars nowadays or pro UNION bias rather than the pro AMERICAN worker bias it masks itself as.

  33. orangeflh says: Jun 27, 2011 11:51 AM

    No, I don’t want fries with that. And pull your damn pants up!

  34. tjacks7 says: Jun 27, 2011 9:41 PM

    Peterson is soo eager to see Ponder in action that he hasn’t showed up for any of Ponder’s offseason camps.

    You liar.

  35. tjacks7 says: Jun 27, 2011 9:48 PM

    Sadly, a majority of those kids that attend will be the ones with their heads on straight, that work hard, and would probably be just fine if they didn’t attend.

  36. smellmyface says: Jul 4, 2011 1:01 AM

    What a bunch of morons blaming Gibbs for Toyota being in Nascar? And talking about the layoffs in detroit. Well if the union didnt demand those morons that snap plactic together make 80 grand a year the American car market may not be in the troubles its in now.

  37. jake6879 says: Jul 6, 2011 4:59 PM

    The Toyota thing is full of crap.. I have two Chevy’s.. you know what, neither were built in the US.. I have a Nissan.. Made in the USA.. We live in a global market.. read a book or something.. Ford has largely shifted it’s investments to overseas markets.. You want to cry about someone screwing this country, look a little more around Washington and how about busting some of these unions.. You want to get paid like a man? Work like a man… Don’t go asking the union or the gov’t for more money..

Leave a Reply

You must be logged in to leave a comment. Not a member? Register now!