Page 4 - The Locker Room Flipbook 2025
P. 4
Financial Challenges Faced by
Professional Athletes
Key Statistics on Professional Athletes' Financial Failures
A signi cant majority of NFL players experience nancial di culties shortly after retiring due to a lack of
long-term nancial planning and the sudden end of high earnings.
Many NBA players face nancial ruin within a few years of retirement, largely due to poor investment
decisions, overspending, and supporting large entourages.
Financial mismanagement and trusting the wrong nancial advisors are common issues, leading many
athletes to lose large sums to scams or poorly advised investments, often resulting in lawsuits or bankruptcy.
A study by the National Bureau of Economic Research (NBER) found that nearly 16% of athletes le for
bankruptcy within 12 years of retirement, re ecting the di culty of sustaining nancial stability post-career.
In European football (soccer), studies have shown that 65% of players face serious nancial di culties
within ve years of retirement due to high living expenses and lack of retirement planning.
According to a report from the Global Sports Management Summit, just 2% of retired athletes are nancially
stable for the long term, with most facing nancial strain after their playing careers.
