The NFL in conjunction with league sponsor TD Ameritrade is launching its first personal finance camp, a move that comes amid increasing concern about the financial future of NFL players. Twenty-six players, wives and former players are scheduled to attend the sessions starting tomorrow, including 49ers TE Vernon Davis and Saints CB Brandon Browner. The four-day camp is being held at the Univ. of Miami School of Business and will cover the basics of personal finance and offer to create personalized finance plans for the attendees.
CBS’ "60 Minutes" is reportedly preparing a piece on financial advisors and the NFLPA, and there have been a number of high-profile investment scams that have entangled NFL players in recent years. The NFL offers personal finance sessions during players’ rookie years, but only one session is mandatory. While the NFL disputes the widely cited figure of 78% of players being bankrupt or in financial distress in the first two years after leaving the league, it clearly sees a need for financial education.
