Life After Sports

c. July 2010


Thursday night, LeBron James will share his future NBA plans with the world in a one-hour ESPN special at 9 pm. The announcement can’t come soon enough for the countless people who have spent untold hours speculating on his future. It seems that everyone from President Obama to Betty White to T.I. has weighed in on the situation (personally, I’d love to know what Paul the Octopus predicts). There’s a lot on the line for LeBron, the team he chooses and, by extension, its fans.
America is a sports-loving country and even non-sports fans pay attention to stories that involve lots of talent, money and potential. Unending media coverage and endorsement deals make big stars hard to miss, but while we’re focused on today’s superstars, why don’t we worry more about the players of yesterday?
I’m talking about the guys who don’t end up in the Hall of Fame and never had contracts that rival a small country’s GDP. It isn’t unheard of for great players who earned substantial money in the pros to fall on hard times.
The Boston Globe recently profiled a former Celtics player who now lives out of his car. Ray Williams gave the NBA the best years of his life and was well compensated for his contributions to professional basketball, but he became a lost soul when he left the hardwood. No one prepared Williams and others like him for the reality of life as an average guy.  No job training.  No financial literacy courses.
There are organizations that help former pro-athletes through tough times, although to be fair it sounds like Williams has exhausted their good graces.   I’m not saying that professional athletes deserve more of a helping hand because they have excelled in a sport. Some players leave the pros primed for success in another field or have managed their money well enough that they don’t have to work again.
Ray Williams living in his car, however, makes me think that teams and leagues should devote more resources to prepare athletes for life off the playing field.
Former NFL coach and NASCAR powerhouse Joe Gibbs recently coordinated a financial education seminar for Washington Redskins players and veterans. In 2009 Sports Illustrated reported that a stunning 78 percent of NFL players are overwhelmed by financial woes or succumb to bankruptcy just two years after leaving the league. If Gibbs and other leaders within the sports community would advise players in a range of professional sports, they’d be doing a terrific service.
Let’s face it – no professional sports team drafts a player for his business savvy. A team wants someone who knows the sport and can play it well. While being a pro athlete is a dream for many young athletes, it has a limited lifespan. An injury can take a player out of the game permanently and bodies can only perform at a high level for so long.
Many players carry their success forward, becoming coaches, entrepreneurs, commentators, or police officers. Those are all worthy second careers.  I think everyone can agree that making it to the pros is an achievement that should not be diminished in retirement.
Do you think professional sports leagues and associations should provide more guidance about life after sports? Do you think the burden falls more on the athlete to manage his/her finances?