How does a pro football player manage his finances?
admin | Apr 11, 2010 | Comments 9
I have a cousin who will be going into the NFL. I recently read a tale about Michael Vick, who received one of the highest salaries in the NFL, being bankrupt. I was wondering who controls the money coming in to these highly paid young men, and how is it that a young man making in excess of six million dollars a year can be bankrupt. What percentage of a pro ballplayers salary goes to an agent? Does the player have a money administrator? And what can a concerned family tree member do to see that what happened to young Mr. Vick doesn’t happen to their loved one? Are there any resources available where a young pro ballplayer can sensibly invest his money so that the tragedy of personal bankruptcy doesn’t happen? How can he prudently invest his money to insure a comfortable future after his NFL career is over?
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Filed Under: Bankruptcy
they don’t. their administrator and “people” do it.
your cousin needs to work things out. the reason Vick turned out the way he did is that he’s an asshole who abuses animals.
your cousin should know what he’s getting into .
Caution him to hire a excellent financial planner.
They have financial advisers that handle their money.
They probably have an accountant who is in charge of managing the money.
Some have accountants to advise them and some don’t manage very well at all.
with an accountant
vick didnt make all the money because theres stuff in their contracts sayin if they make hurt or this or that they will make X amount of dollars….
they have other their finances for them, the probably keep a certain amount for household payments, gas, etc. then use the rest for whatever they want
has someone else do it http://faceoffbook.com
He can marry a pretty girl that will take care of money for him.