What’s a Football Player To Do?
Whichever side of the NFL labor dispute you’re on – or maybe you don’t take any side and just want football, like me – it does highlight the need for players to have and to heed financial advice.
Let’s face it, not every player has the financial resources of the lead plaintiffs Tom Brady, Peyton Manning and Drew Brees. For the average NFL player, going a year without pay is significant, even critical.
While many have learned to spread their cash flow out – they may only get 16 or 17 paychecks a year – it’s still a big hit for the vast majority that don’t have the cash reserves. An NFL lifestyle comes with NFL-sized expenses, and that’s often the norm for the average NFL player too.
The most anyone will get from the NFLPA lockout fund is expected to be $60,000 – not much when you’re lifestyle is based on multiples of that.
Here’s hoping that some of the advice going around the league was financial planning, and not just legal maneuvering.