Psychological effects of fortune for an NFL player (1 Viewer)

Whodat GT

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Since it´s draft season, I´ve been reading and watching content to get ready for the draft. I know part of the fun is to hear people talk about what makes players great or not, what makes them a possible superstar or, and, on the contrary, what is their bust potential. A topic that doesn't get discussed that often is the risk involved in giving young athletes so much money early in their lives. And yet, I think it is a huge factor on the success of a player and his continuity in the NFL. The best saints related example of that has to be Junior Galette. He was a great player and seemed like a humble guy until he got paid. Then everything went out the window.
How do you think teams try to measure the psychological effects of a 20 year old kid suddenly becoming rich, before drafting them?
 

No2DC

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I saw an interview that Wiley did about a similar topic. Basically, we expect entirely too much, particularly when it comes to money management, of these young people. I made poor decisions with my 1st credit card, so I can't imagine my ego having a 1 mil advance (from your agent after the college season is over) because I'm slated to go in the 1st round. I thought I was big time because I could drive my parents new car sometimes and they can drive most people's dream cars.
 

baarbogast

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Since it´s draft season, I´ve been reading and watching content to get ready for the draft. I know part of the fun is to hear people talk about what makes players great or not, what makes them a possible superstar or, and, on the contrary, what is their bust potential. A topic that doesn't get discussed that often is the risk involved in giving young athletes so much money early in their lives. And yet, I think it is a huge factor on the success of a player and his continuity in the NFL. The best saints related example of that has to be Junior Galette. He was a great player and seemed like a humble guy until he got paid. Then everything went out the window.
How do you think teams try to measure the psychological effects of a 20 year old kid suddenly becoming rich, before drafting them?
Part of that is the interview process. The most famous example was the Colts asking Manning and Leaf what they would do with the signing bonus.

Manning said invest and study the play book.

Leaf said he would take his buddies to Vegas.

Colts drafted Manning and Leaf has been in trouble.
 

baarbogast

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Maybe making money management seminars mandatory at the combine. I know the rookie symposium has them. No reason they cannot do them at both.
 

mdharper

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They probably have about the same success rate at money management as lottery winners. Nothing special to see there.

What would be interesting is if there were any correlation between money managing ability and long-term success in the NFL. Then we could blame the NFL for throwing money at kids to weed out the bad players. At least it would explain all those draft busts.
 

No2DC

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Part of that is the interview process. The most famous example was the Colts asking Manning and Leaf what they would do with the signing bonus.

Manning said invest and study the play book.

Leaf said he would take his buddies to Vegas.

Colts drafted Manning and Leaf has been in trouble.
You might as well ask whether their parents are rich or not. People that are use to money act differently then people that are new to it. The Manning brothers were groomed from the beginning for the lifestyle.
 

guidomerkinsrules

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we should expect players to have about the same finanacial literacy that the rest of the country does - which is to say not much
financial literacy should be foundational to our math studies
 
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Whodat GT

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You might as well ask whether their parents are rich or not. People that are use to money act differently then people that are new to it. The Manning brothers were groomed from the beginning for the lifestyle.
Manning is probably an outlier, but moreso because of his NFL pedigree. Didn't Johnny Manziel come from a well off family?
 

No2DC

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Manning is probably an outlier, but moreso because of his NFL pedigree. Didn't Johnny Manziel come from a well off family?
His problems are deeper than money. LOL. I don't mean to suggests you have to come from a rich household to make good financial or life decisions decisions. I'm just saying most people under 25 are still maturing in a lot of areas.
 

Loose Cannon

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You might as well ask whether their parents are rich or not. People that are use to money act differently then people that are new to it. The Manning brothers were groomed from the beginning for the lifestyle.

Yeah, the best predictor of financial responsibility is the person's parents.
 
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Whodat GT

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His problems are deeper than money. LOL. I don't mean to suggests you have to come from a rich household to make good financial or life decisions decisions. I'm just saying most people under 25 are still maturing in a lot of areas.


I didn't think you were suggesting that. Mentioning Manziel was also a way to dispute the argyument that coming from a wealthy family makes you a "safer" prospect.
 

LuvNOLA

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You might as well ask whether their parents are rich or not. People that are use to money act differently then people that are new to it. The Manning brothers were groomed from the beginning for the lifestyle.
It does not look to me that the Manning kids were raised wealthy. In the videos of the kids playing football when they were small, their backyard looked just like everyone else’s....small & normal.

I like the vid where Eli is yelling at Peyton & says, “you can’t pull by the neck!!!” ?

Archie did not make great money, as a quarterback, if I recall correctly.......a lot more money than a lot of regular folks, but not HUGE money.
 

No2DC

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It does not look to me that the Manning kids were raised wealthy. In the videos of the kids playing football when they were small, their backyard looked just like everyone else’s....small & normal.

I like the vid where Eli is yelling at Peyton & says, “you can’t pull by the neck!!!” ?

Archie did not make great money, as a quarterback, if I recall correctly.......a lot more money than a lot of regular folks, but not HUGE money.
Valid point but I'm sure when you compare the salary of a starting NFL QB (who was drafted 1st overall) in the 1970s to early 80s to today dollars it must equate to an upper-middle class background. Last time I checked going to Newman was exactly cheap and they both had the generational knowledge of what life in the NFL was like.
 

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The NFL/NFLPA should definitely make financial planners/advisors who are willing to enter a fiduciary agreement available to all rookies and players.
 

LuvNOLA

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Valid point but I'm sure when you compare the salary of a starting NFL QB (who was drafted 1st overall) in the 1970s to early 80s to today dollars it must equate to an upper-middle class background. Last time I checked going to Newman was exactly cheap and they both had the generational knowledge of what life in the NFL was like.
Correct!

IMHO Archie Manning earned EVERY penny of his salary........he got beat up all the time & has had 9 surgeries. I am not a football expert, but the videos that I have seen of Archie’s playing days, makes me sick ?
 

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