Month: November 2017

The following advice applies to those in college as well.:

Okay, rookie, you made the team. You may feel like you struck it rich. In a sense, you have but you need to tamper the need to spend so forget the bling. Does bling project an air of financial stability? Yeah, maybe but it’s more important to have a solid financial basis. So, skip the excessive bling for you and your entourage.

Yes, one may have been friends with these people for years. Or, yes, they may be family. But success can bring out the worse in some people, and I’m not referring to the athlete in this case. There are hundreds of stories about athletes going broke not just because they spent their money to impress themselves and those around them. Athletes go broke because they trust the wrong people to handle their money. Individuals once part of an athlete’s inner circle become hanger-ons, groupies, and the like. Agents and financial advisors entice athletes with poor investment choices.

Parents are supposed to be the people in this world to protect you from outside evils and not prey on their children. The same is true for one’s doctors, preachers, teachers, coaches, siblings and friends. Yet, for the athlete learning who to trust, trusting can become a very difficult thing.

An athlete has to be very careful about his financial plans. The money he makes within his short playing career has to last him for the rest of his life unless he is smart enough to transition into a second career. It does not matter what league one plays in–NHL, NFL, MLB, MLS, NBA–one’s finances need to last to cover household expenses, trips, health care, college tuition and so forth.

The best strategy an athlete can have is to start transitioning into his second career before he retires or is forced out of the game. I was advised that it is best to have multiple streams of income at all times. Even athlete can accomplish that with a hectic schedule with the right team, aka inner circle.

It is just as important to make sure those in your inner circle are worthy to be there. Ask the hard questions: (a) does that person give as much as they take?; (b) how does that person handle their own money?; (c) is that person growing or stagnant?; (d) does he follow through on what he says?; and so forth. If there are more negative answers than positive ones, it may mean removing that person from your inner circle.

Always double check your finances. Keep your own financial records, and get an independent second opinion at least once a year. There is no shame in asking for help, so if budgeting isn’t your thing ask a financial counselor which is different than a financial planner. Learn about stocks, mutual bonds, mutual funds, CDs, and so forth for yourself. It is hard to trip someone up if he has the knowledge for himself.

Plan for your retirement and life after sports. Remember, knowledge is a power that no one can take away from you. Knowledge can help prevent you from going broke. And if you just have to have some bling to reward yourself from all the hard work it took to make into the League, then limit yourself to just 10 percent of your first contract and save the rest. Better yet, make sure that bling will appreciate over time instead of depreciate.


Source: CNN Money


Source: Fortune

In the past 48 hours, several UCLA basketball players were arrested in China for shoplifting. Unfortunately, the comment was made that the situation is not a big deal. Little do these guys know how big of a deal it is. One is because China’s judicial system is not as kind as the United States’ system, and also because the media is going to have a field day with these players attitudes and behavior.

In response to the media attention, one basketball player’s father, LaVar Ball, stated, “He’ll be fine. Everyone’s making it a big deal. It ain’t that big a deal.” Mr. Ball, the outspoken CEO of athletic apparel maker Big Baller Brand.Well, is a former NBA player. Mr. Ball perhaps you should learn now what you should have learned while in the NBA on how to deal with the media properly. So, here’s a #ThursdayThrowback (#TBT) article for you and anyone else with aspirations to play in professional sports before you get bad advice for one of your parents:

“I wanted to ask Boyle about his terrific career a couple of weeks ago, but he was too busy carrying out his classless, planned, pathetic personal attack on a reporter. So, bye. Grade: D.”~Rick Carpiniello

The above statement demonstrates the seriousness of how the media perceives an athlete. The media can either become an ally or an enemy for a player, so a player wants to be careful how she treats the media. Further, an athlete could find herself in difficult waters if she fails to meet league or sponsor’s expectations regarding interaction with the media.

In 2014, Marshawn Lynch was fined $100,000 for not making himself available to the media after the Seattle Seahawks-Kansas City Chiefs game. The $100,000 was actually the combination of two separate $50,000 fines; one that was imposed in 2013 for not meeting with the media and a new one for his current violation.

According to the NFL’s media office, “The NFL Media Policy mandates that players must be available to the media during the practice week at the team facility and in the locker room following all games. Star players, or other players with unusually heavy media demands, must be available to the media that regularly cover their teams at least once during the practice week in addition to their required postgame media availability.”

Lynch spoke to a couple of reporters via the phone after the Chiefs game, but that was not enough to satisfy the League. Trying to avoid another fine, Lynch had a 50 word interview after the Seahawks-Arizona Cardinals game as can be seen below.

The idea that an athlete has to speak to the media is troubling especially in light of the numerous complaints pundits and officials within the League and on teams have with guys speaking their mind on social media. If a guy says something others disagree with, then the guy receives unnecessary media attention and is the bad guy.

Most athletes do not want to be bulletin board material. And some athletes prefer their privacy. Most importantly, sometimes, a player has a bad day either on or off the field. The expectation that an athlete has to make himself available after a game–especially if he played horribly or was hurt–can be terribly insensitive. But it is a journalist job to get the interview in every situation.

Hence, there are interviews like Marshawn Lynch’s. While it gave journalists something to chuckle at, there was really wasn’t anything said where a journalist could use in a story. The NFL cannot be upset; the obligation was met. Yet, from the outside looking in, it appears that interview was a waste of time.

Last month, the St. Louis Blues lost to the San Jose Sharks in the NHL’s Stanley Cup Western Conference Finals. The guys were devastated, and in a remarkable stance, Coach Ken Hitchcock allowed the players time to grieve before interacting with the media.

Perhaps, there should be more flexibility in the NFL as well as other league’s media policy to avoid wasting everyone’s time. Until then, here are few pointers to keep an athlete out of trouble with the media, fans and more importantly, the league:

⦁ Never attack a member of the media even when provoked-try not to take things personally;
⦁ Allow designated player association personnel to speak about labor disputes-some version of “no comment” works well in this situation;
⦁ Stay humble and think before you speak;
⦁ Make supportive statements about teammates and players associations without lying;
⦁ If you get caught in a sticky situation, accept responsibility;
⦁ Remember the media will either be your ally or your enemy;
⦁ What happens in Vegas stays in Vegas–the same is true of the locker room;
⦁ Zip the lips–avoid gossip (off the record comments), lies, omissions, and do not over share information;
⦁ Prepare for interviews;
⦁ Be professional, respectful and engaging when interviewing;
⦁ Know your brand and be yourself; and
⦁ Be thankful for the opportunity to be interviewed–someone else would love to be in your shoes.

If you still feel uncomfortable interviewing, seek assistance from a retired journalist or press agent. Further, do not forget to learn the language, or hire an interpreter, for the land that interview will take place.