With the beginning of the NFL preseason starting just weeks ago, fans have been engaged with players’ off season preparation for this upcoming season, but not many know how players are preparing for life off the field. The Sports and Entertainment Group at Kelley Drye held their annual three day retreat in Las Vegas this year for their 30+ NFL client roster with their agents Adisa Bakari and Jeffery Whitney; the theme for this year’s retreat: “Ensuring Today’s Professional Athletes Remain Tomorrow’s Millionaires”. The retreat included panels & speakers on financial education, wealth preservation and growth strategies, managing mainstream and social media, franchise investment opportunities, and preparation for adjustment to the obstacles of sudden wealth management.
Bakari stated that the conference is in its fourth year and it builds camaraderie among the athletes and affirms their importance in the clients’ lives. In addition to the seminars, Bakari showed articles of successful athletes turned NFL disaster stories after losing millions in business deals or investments gone wrong. “Just because you’re a Hall of Fame quarterback doesn’t mean you’re going to fall out of bed and be a successful real estate developer,” he tells clients. He also spoke about the relevance of social media in today’s society and how it allows his clients to communicate with fans and measure the significance of their brand—the better with which to approach sponsorship and endorsement opportunities.
FORBES was just 1 of several publications on hand to cover the retreat & interview NFL veteran Antoine Bethea of the San Francisco 49ers. Bethea spoke to FORBES about the financial pressures of the NFL from a veteran’s perspective. He stated that many players coming into the NFL are not used to the large amount of money being thrown at them and the struggles of taking care of family and distant family and friends that come around seeking a handout and the reality of some financial advisors stealing from players. He appreciates what Bakari & others at Kelley Drye do as far as putting the right people in front of their clients to ensure that they have a successful life well after their football careers are over.
Pictures from the retreat can be found here: https://twitter.com/TheSportsEntGrp & https://www.facebook.com/media/set/?set=a.782602295115625.1073741830.329211523788040&type=3