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Bankrupted athletes

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by

Cameron Bennett

on 23 October 2013

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Transcript of Bankrupted athletes

Bankrupted athletes
Money matters
Today many players are not thinking about their future. This has caused many problems in some financial futures
T.V. contracts
With million dollar tv contracts it has caused for big contracts for
athletes.
Contracts
Many people don't know what a contract really involves. Players are only guaranteed a signing bonus. Their contract can be revoked at any time. If the team wanted to drop that player they could. Many players only learn
that once signing.
Injuries
One of the big things that ruin contracts is injuries. If you can't play they won't pay. That is a big problem for many
athletes.
Types of injuries
Their are your common 4-5 week injury, your out for the season. If a team wanted to drop you they could, if so you are a free agent. Then if any team wants you they can pick you up. Only if they want to risk it on you. One common injury is a concussion. Steve young revived his eight of them till he retired.

Types of injuries
The last type of injury is a career ending one. Former NFL quarterback Joe Theismann played his entire 11-year career in the NFL with the Redskins. The career of the two-time Super Bowl winner came to an abrupt end during a Monday night game in 1985 when sustained a brutal break in both bones of his lower right leg. He was never able to come back. This you could never plan for.
Debt
Many athletes after their careers are over still spend money like they have it coming in. They owe debt soon because they simply run out of money.
Debt
Many players have to get real life jobs after their time playing. They waste all their money and don't know what to do. This is a big problem for some athletes.
Financial plans
One simple way to solve the problem of going into debt is to have a financial plan. This will help you plan for a future with your family, but you have to start early, when your career starts.
Financial advisory
Another way to plan for future is a financial advisory. He will give you advice and what to do. How to save your money.
Final thoughts
Throughout this presentation we hope you have learned something in this prezi. If it is that athletes are in trouble with their futures or that Joe theismann won two superbowls.
Works cited
Cameron, Patrick, Leslie

Bechta, Jack. "Ten Reasons Why NFL Players Go Broke." National Football Post. N.p., 30 May
2012. Web. 27 Sept. 2013.

Florio, Mike. "Steve Smith Isn’t Surprised Some Players Are broke." ProFootballTalk. N.p., 23 May
2012. Web. 27 Sept. 2013.

MANFRED, TONY. "21 Examples of Athletes Going Broke." N.p., n.d. Web.
<http://www.businessinsider.com/examples-of-athletes-going-broke-2013-3?op=1>

Riccobono, Anthony. "Why Do So Many Athletes Go Broke?" International Business Times. N.p.,
n.d. Web. 13 Sept. 2013. <http://www.ibtimes.com/why-do-so-many-athletes-go-broke-799155>.

TORRE, PABLO S. "How (and Why) Athletes Go Broke." Recession or No Recession, Many NFL,
NBA and Major League. N.p., n.d. Web. 13 Sept. 2013. <http://sportsillustrated.cnn.com/vault/article/magazine/MAG1153364>

"25 Rich Athletes Who Went Broke." Businesspundit.com. Drea Knufken, n.d. Web.
<http://www.businesspundit.com/25-rich-athletes-who-went-broke/>
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