Depending on what article you read, anywhere from 60% to 71% of NBA players file for bankruptcy within 5 years of retirement. One article called filing for bankruptcy a “long standing tradition for NBA players.” This not only upsets me, it appalls me. This blaring fact is an indictment on the basketball community as a whole. The basketball community that I love. The basketball community that still has not come to grips with the fact that education of our student-athletes must be the #1 priority. Whether after high school, college or the pros, every athlete WILL RETIRE! And they will be relatively young when they retire. What do they do with the rest of their life and are they prepared for that ultimate reality?
Education must become the focus for all student-athletes and their families, not a necessary evil they must endure in order to play sports at the high school and collegiate levels. The culture in my program is all about academic excellence. We demand it and require parents to be involved in the process. Families who do not buy into this find out quickly they do not fit within our culture. I could care less about winning championships, if that means sacrificing the future of young person in the process. Basketball is a tool, a means to an end. Basketball is not an end, in and of itself. I believe it is my responsibility to make sure kids learn not only core academics but life skills. Financial education and contractual education are a part of the life skills we teach our student-athletes. It is critical that players know how to count their own money and read their own contracts. Shaquille O’Neal provides a great example of an elite level player, who also has his B.A., M.B.A. and soon Ed.D. degrees. That is what this should be about for every student-athlete.
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