Posts Tagged ‘Michael Vick’
WHY DO SO MANY PROFESSIONAL ATHLETES DECLARE BANKRUPTCY SHORTLY AFTER RETIRING?
Posted on: May 2, 2012
- In: Baseball | Basketball | Football | Golf | Hockey | Soccer | Sport Psychology | Sports | Tennis
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This is a question often raised and the answer is pretty simple. They don’t have a Bobby Brett to handle their finances, as he did for his brother George. When George was playing for the Kansas City Royals, I lived in Kansas City and owned an advertising agency and on occasion hired George to do commercials for my clients. And in order to get that accomplished, I had to go through Bobby, who was his financial adviser and confident. Bobby was a tough person to deal with but he was always straight forward with me and was always truthful. And I believe it was because of his diligence in handling George’s cash flow that helped George to be as successful as he was. When he came to bat, he never worried about his finances because he knew he had Bobby in his corner. Today, both are multi-millionaires and own a couple of minor league baseball franchises in the northwest United States.
It’s too bad Warren Sapp, Michael Vick, Mike Tyson, Johnny Unitas, Bjorn Borg and Mark Brunell didn’t have a Bobby in their corner. It’s been estimated that 78% of all NFL players will declare bankruptcy or face joblessness and divorce a mere two years after they finish their careers.
Citing the rate at which pro athletes declare bankruptcy after their professional careers end, former Major League Baseball player Doug Glanville wrote in one of his magazine columns that the problem lies with the speed at which the money comes in. He advises strong financial and life planning for athletes to avoid money woes after the playing stops. And I advise that they find someone like Bobby to cover their backs.
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Now let me go on record. I have a 14-year old Bichon Frieze who I would die for. Her name is Scarlet and she is my buddy. We go everywhere together, including when she takes me for long walks.
But as big a dog lover as I am, I am also one who believes that when a person pays the penalty for having committed a crime, that person, such as Michael Vick, should be forgiven so that he can move on with his life.
If new head coach Mike Singletary of the San Francisco 49ers decides to sign Michael when he’s released from prison, it’s a sign that Singletary is just practicing his strong Christian beliefs. He doesn’t just talk the talk; he also walks the walk. Of course it helps that Michael is a fantastic quarterback who can run and pass the ball with great efficiency, but more important will be the effect his hiring will have on the team.
Singletary will be sending them a strong message that he cares about players as human beings first, and then as athletic performers. And this is something that can’t be faked, although some coaches try to do just that. So I say good luck to Michael. And Michael, it wouldn’t hurt also if you were to donate a percentage of your earnings to The Humane Society. Believe it or not, it will actually help your performance on the field.
Mind Over Sports 