Why Professional Athletes Go Broke? Young athlete’s main goal to attain is to become a professional athlete. Many want to become a professional athlete due to the money, others for the love of the particular sport that they are interested in. There is a downside in becoming a professional athlete, that many young players are not aware of. This downside is that professional athletes go broke faster than they are drafted into the leagues. Many professional athletes such as NBA and NFL players go broke due to career duration, overspending, family issues, and lack of finance knowledge. When trying to become a professional athlete, one must start playing sports as early as possible (Ferguson 34).Playing sports comes with many sacrifices. Athletes …show more content…
The ESPN documentary “Broke” explains that players made bad investments and made payments to relatives and friends only to see their money quickly disappear (“NFL Salaries”). An example of child support causing a professional athlete to go broke is that Travis Henry, a NFL player, spends $170,000 yearly on child support for nine children (“Why NFL Players Really Go Bankrupt”). This amount of money spent on child support, can put a significant hole in even the richest person’s pocket. Aside from child support, some athletes are left to the debt of divorce. Divorce puts a strain on individuals because not only do they have to give their spouse part of their belongings, but, they are also left with paying all of the legal fees ( “5 Reasons Why”). Last, but not least, supporting family members can cause a professional athlete to become broke. Family members of professional athletes feel like when the athlete goes pro, that the athlete should take care of them. Athletes that succumb to this end up losing a significant amount of their earnings. Luther Elliss, a player from the Detroit Lions, was over generous with his money by helping his family members pay for weddings and landscaping (“Why NFL Players Really Go Bankrupt”). Helping family members seem like the right thing to do, but professional athletes must be careful not to overdo
NFL players often times end up going bankrupt because they are not well educated on how to manage their money well. They make great amounts of money as pro athletes and some do not know how to manage this money or how to save it. Some do not take any advice about how to invest their money. Others are influenced to make poor decisions on spending money, especially money they do not have. Pro athletes get so used to making millions of dollars that they often times get so used to certain lifestyles that are unnecessary and are slowly leaving their pockets empty.
Although, what they fail to realize is they lose sight of what is important. That is, it is important for their children to enjoy the sport and for the parents to not get caught up in the hype that the child will one day be a professional athlete. They are kids; they need to be able
After graduating from High School one may choose to further his or her education through college. People do this for many reasons. Some people do it for professional benefits, while others do it for sports athletics. This paper will be focusing on those who do go to college for athletic benefits. Specifically, this is focusing on how these college athletes do not get paid and why they should be paid.
Athletes may have worked their way up to success but the homeless children didn’t plan to be homeless, starving children didn’t wish to be starving, these children also do hard work but they get nothing in return. People may give them a meal but that only fills you one day not the rest of your life. In conclusion, athletes should donate more to charities and not take life for granted because some kids only wish to see the daylight of tomorrow. Life has more to it than only thinking about yourself so think about donating to charity once in
(Hook) How would you feel if you worked hours making your company millions of dollars and they didn’t pay you? (Bridge) Many student athletes spend as much time practicing and competing as people do working. Plus spend many hours going to class and studying. Athletes do not have time to get a part time like many student.
For evidence, according to “Are Teens Too Young to Go Pro” by Mary Kate Frank, athletes that are paid have less time to explore other interests in their lives. The article states, “Devoting all your time to a sport means that there is little time to explore other interests… As adults, might players who went pro as teens regret missing out on those experiences?” (Frank “Are Teens Too Young to Go Pro”). The athletes did not have any time to explore other interests because of the immense amount of pressure put on them by these NIL deals.
Although college athletes may be on a scholarship that is paying for their education, they also work countless hours on their craft and make millions for their
Did you know that depending on the sport, students who play sports in college most likely have less than a 2% chance of becoming professional athletes? At middle schools, high schools and colleges across the country, everyone is arguing over whether or not students with failing grades should be allowed to play sports. In my opinion, a good education is so very important for our country’s youth, especially the athletes. Not a lot of kids are good enough to play in the top college sports programs in the country. But even those who are, still have an astonishingly low chance at making the professional leagues.
They have to put in work on and off the field of court. Three, the coaches and everybody else but the players are paid. These kids take time from their school work and personal things to get things done for their sports team and don’t get anything in return. “Nick Saban will make $11 million in the year of 2018 coaching the football team of Alabama University.” (www.espn.com/college-sports/story/_/id/6778847/college-athletes-deserve-paid.)
People know that doctors and firefighters save lives, while athletes play a game to make money. Even teachers pay isn’t anywhere near to athletes; they educate the generation’s youth so they can make a difference in the future. So many jobs that are very important don’t get paid as much and that money can go towards better causes. But these are only some of the reasons that pro athletes get paid too much.
They don't only sacrifice family also time they could be out doing better things but for some athletes they love what they do. It's not only businesses paying the athletes, but we the consumers pay for their salaries by paying for tickets to the game. People buy the shoes and shirts and jerseys named after them. Some of that money should go to the athletes. Athletes are also in ads and commercials for more than just the sport they play.
The cost of a single professional athlete can vary from one dollar to thousands of dollars. The objective of the game is to invest in a player that you believe can play above his/her worth believed by the company. By the end of the game for the athlete, the reward or loss is proportionally factored into what you payed for. This means that the more money you put into a player, the higher the reward or loss is. Looking at the size and worth
Not all constantly blow their money on things they don’t particularly need. They still have to provide their families with food and clothes and other possible necessities. They also have to pay for their family to do things. If the kids want to play sports, they have to pay for the gear. Lastly, athletes have to pay for bills and food and other necessities.
Professional athletes are extremely overpaid for the “jobs” that they do. They only entertain for a living and get paid millions of dollars per season. Each sport is different in how they pay their athletes, and the difference in salaries from one player to another can be in the tens of millions of dollars. These athletes are paid for jobs that they only do for a certain number of games and do not even play the games over the course of an entire year. In most professional sports, they play in games for only a few months and then have a few months off.
People know that doctors and firefighters save lives, while athletes play a game to make money. Even teachers don’t get paid as much; they educate the generation’s youth so they can make a difference in the future. So many jobs that are very important don’t get paid as much and that money can go towards better causes. But these are only some of the reasons that pro athletes get paid too much.