NFL launches investment program for current, former players

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In recent years, the NFL has catered to the post-career pipe dreams of players with “boot camps” aimed at introducing current and former players to broadcasting, the music industry, and acting.  (The last two represent unrealistic transitional careers for athletes; even broadcasting is an uphill battle for most former players.)

The NFL is now providing current and former players a more realistic way to capitalize on the resources that can flow from an NFL career.

The league has announced that 23 players (13 active, 10 former) will participate in a three-day “Investment for Impact” event at Notre Dame University.  The program, development by Brady Quinn and Jeff Faine along with NFL Player Engagement, will be aimed at helping guide players toward quality investment opportunities that also have a positive effect on their surroundings.

“The opportunity to play in the NFL has provided a platform to have an impact on our communities,” Quinn, a free agent, said in a release issued by the NFL.  “It is my hope that through the Notre Dame Entrepreneurial program, attendees may learn how to invest with an impact for the greater good.”

Speakers include Warrick Dunn, Rick Mirer, Jeremy Bloom, and Deke Cooper.

The “Investment for Impact” program expands on the NFL’s Business Management and Entrepreneurial Program, which has helped more than 700 players since 2005.  We’d prefer to see more events like this, and less that entice current and former players with the perception that football celebrity easily can be parlayed into a career in entertainment.

27 responses to “NFL launches investment program for current, former players

  1. They should cover “Investment for Profit”.
    You can’t live on impact. Positive cash flow is much better.

  2. This is pointless… The players that were going to end up broke, will broke no matter how many symposiums and conventions they are forced to attend.

    The only players that will chose to attend are the ones that already have fiscal sense… And that is a trait you cannot teach.

  3. FINALLY!! I have often wondered why the league hasn’t implemented education and access to safe, conservative investment programs, especially with the ungodly salaries players receive. The fact that careers are SO short in duration makes long-term planning MANDATORY, not optional! It would be extremely simple to have every player included in a defined benefit AND defined contribution retirement plan. As I retire as a teacher of forty-one years, I am extremely appreciative of the retirement benefits I have earned and for which I have saved over my career. If these kinds of programs can be implemented for public employees, they can be organized and worked out for millionaire athletes. Obviously, though the number of years for vesting are quite different, the structure of the retirement plans can still be done due to NFL salaries. Anything is better than the road so many of players have traveled and ARE traveling even at this present time.

  4. Most will still go broke. With “uncle” business managers and “aunt” accountants they have no chance.

    They should take a course on ignoring their greedy families.

  5. Just give them all real estate certifications. Get Cade McNown to give a lecture on that.

    When I was condo-hunting in 2002, I was shown the condo of a Major League Soccer forward who was traded from Chicago to Kansas City by a realtor who was a former goalie for the Chicago Fire.

    Real estate seems to be where mediocre athletes do next.

  6. About 20 years late but better late than never. Almost every company now automatically enrolls new employees in their 401k program and forces them to cancel if they do not want to participate. Nfl needs to do the same thing and protect the players from themselves.

  7. Broadcasting, the music industry, and acting?

    Here is a crazy thought… what if they used the college degree that many of them apparently earned?

  8. I’ve often wondered why universities don’t create an academic program geared towards those who want a career in professional sports. And not just the athletes. There are many aspects to professional sports besides being an athlete. And since many athletes at major programs are preparing for a career in professional sports, why not give them the education and skills to complement their athletic abilities. Courses on Public Speaking, Contract Negotiations, CBA , Unions, Marketing, Agent Hiring, and Finance could all be topics specifically geared towards those who pursue a career in professional sports — whether they are an athlete or someone who aspires to be an AD or have a front-office job with a sports organization.

  9. If Peyton Manning gets a role acting in a TV show or movie, I’m tuning in. I watch his old commercials on youtube. Guys awesome.

  10. Look, here’s something else the league is doing for its players that the NFLPA is contributing 0 $ to. This is something they should co sponsor financially. But wait, that would mean they were doing anything but simply pocketing the dues. They need to be called out, I want to know what the players are actually getting in return for their dues. And so should they.

  11. What is with this insipid “impact on their surroundings…”??? It’s as lame as the “give back to the community” montra that gets blindly repeated all the time. Most of the “communities” that these guys come from are cesspools. No one, and I mean NO ONE gets anything to start with from these communities. Except the chance to live in socialist squalor. I’m from Detroit – I’ve seen and lived it first hand. If the players all invest wisely, and prosper, the companies in which they invest can continue to grow. THAT benefits the communities. If the players/investors are so inclined, they can voluntarily donate further (than the >50% in federal and state and other taxes that get purloined from them) to the community program/entity that they wish.

  12. Is their deferred perfomance bonuses paying for this investment advice … Investment 101, $100K now is better than $100K two years from now.

  13. Day 2 Afternoon session: “How to breed horses for tax deductions” hosted by Bill Romanowski.

  14. Footballhistorian, what about socialist squalor like in Scandinavia? Oh, that’s not squalor at all? It’s the exact opposite of squalor? But it is socialist.

    The squalor in the inner cities, like most squalor around the world, is CAPITALIST squalor. There HAS been socialist squalor in the authoritarian socialist countries, but authoritarian socialism =/= socialism, any more than fascism = capitalism.

    And please tell me how the growth of giant corporations – which has been monumental in the last several decades – has helped communities, or families, or anyone not connected with those companies. Please – tell me. Cause to me it seems that corporate profits have gone up exponentially while wages and purchasing power have long since stagnated or even gone down. Wal-Mart has grown and thrived – and community-owned businesses have been put out of business. They can’t compete with a giant corporation that uses slave labor overseas and virtual slave labor here.

    I know where squalor comes from and where squalor is, and it isn’t the socialist countries.

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