U-M to host bootcamp to teach pro players how to run businesses post-NFL

Submitted by woomba on December 10th, 2012 at 5:34 PM

http://www.businessweek.com/news/2012-12-10/nfl-to-teach-players-about-…

Looks like the bootcamp in question will be hosted in the Ross School of Business this April.

I think this is a great idea (although more general skills outside of franchising would be ideal) and hope similar bootcamps will be available for our student athletes!

 

Comments

CRex

December 10th, 2012 at 5:56 PM ^

I still maintain there should be a revenue sports minor (if not a major).  It can cover how to handle your money, an agent, establish a charity, endorsement deals, etc.  Designed so those who go pro can handle their millions in an intellingent manner and those who don't go pro can go on to be agents, run charities, and money managers for the pros.  

MichiganManOf1961

December 10th, 2012 at 6:09 PM ^

A nice thought, but I'm not sure if the University should be designing its curriculum around athletics... indicating that the education is only "in addition" to playing sports.  For one, the thought that "those who go pro can handle their millions," doesn't apply to many athletes at all.  The majority of athletes participate in non-revenue sports, and even those who play football, for instance, have only a slight chance to make it in the professional league.  And the University already has programs to teach students how to be agents, run charities, and be money managers... the business school, organizational studies majors, accounting, education, etc.  You name it and there is a major, or I'd imagine, at least some classes tailored to that sector. 

It may be nice for the Athletic Department to run a sort of boot camp for those who know they are going to turn professional, but I don't think it would be a smart thing to have all 25 new football recruits majoring in "How to Manage Your Millions," though I'm sure we wish that was the case.

~Herm

Jacoby

December 11th, 2012 at 1:25 AM ^

There is a decent argument that football players should be allowed to major in football. Basically it would help propel football played into actual careers coaching at the high school, college, and pro levels. Like any major, it would still require more substantive coursework beyond athletics, and would take a more realistic approach to the careers of some compared to the bs majors at OSU (I'm thinking of that OSU scandal a few years ago when transfers from OSU couldn't get any credits transferred because the classes were such jokes).

turtleboy

December 10th, 2012 at 6:18 PM ^

It'd be nice if high schools and colleges nationwide covered things everybody does like balancing your checkbook, paying your taxes, smart auto loans and mortgages, and the basics of investing. Many Pros unfortunately lack basic common sense education about their money, on top of being blinded by gigantic egos. The NFL and NBA players could use "25 years old and about to retire: 101" with a required "how not to go to strip clubs" course, while minoring in "not impregnating multiple women besides your wife." The alimony and child support these guys pay is insane.

French West Indian

December 11th, 2012 at 12:43 PM ^

...that regardless of what the subject matter of teh coursework is, you'll always have some athletes sleeping through it either because their tired from the physical drain of sports or they just don't care.

Maybe it'll help some, but for every kid that sucks up that kind of information there's inevitablly another 20 year old who'd rather daydream about girls, weed or video games.

Tater

December 10th, 2012 at 8:12 PM ^

Any player with a poor background who makes it as a multi-million dollar athlete is accused of "forgetting where he came from" by anyone who ever knew him that doesn't receive handouts on a regular basis.

Then, when the money dries out, they abandon the player and say he "forgot where he came from" anyway.  If I was in their position, I would tell most of them to fuck off, keep my money, and never go back to the old neighborhood.

Sione's Flow

December 10th, 2012 at 6:17 PM ^

I agree that a boot camp type of program would be good for any athlete at UM who may turn pro in their designated sport.  Another thing I think would be good would be a personal finance class for all students enrolling to help them make educated financial decisions when they're on their own for the first time in their lives.  I know the Marine Corps requires everyone take a personal finance and leadership correspondence course prior to be being eligible for promotion to NCO.

Zone Left

December 10th, 2012 at 7:27 PM ^

The Marine Corps' programs aren't going to give anyone the tools required to manage day-to-day finances. The programming is pretty pathetic and the system incentivizes cheating.

That said, every college student should have to take a personal finance course during their Freshman year and again during their Senior year. Too few students have the life skills necessary to manage their money after school and cannot understand the implications of things like student loans. Some well designed seminars could be the most useful courses many students take as undergraduates.

Don

December 10th, 2012 at 8:30 PM ^

I couldn't agree more in principle, but the problem is that the entourages frequently include immediate family members. It's one thing to tell a friend from down the block to fuck off, but it's entirely different to tell a brother or cousin or step-father to do the same.

Vote_Crisler_1937

December 11th, 2012 at 9:06 AM ^

There are some really good thoughts on this thread and some people who have maybe been listening to the sensational media a bit too much. Lets be careful speculating about athletes from the 'hood as opposed to say, anyone else from the 'hood. Smacks of stereotypes.

UM in NC

December 11th, 2012 at 1:08 PM ^

Nice to see all the advice about what these athletes should do, but I'm wondering how many posters can truly relate to the situation.  I know I can't but I also choose not to give advice on the matter.

justingoblue

December 11th, 2012 at 1:29 PM ^

but whether people posting might do the same thing doesn't really have any bearing on whether the advice is good.

If I was in Vince Young's position, I might be tempted to have a dozen of my friends living off cash I throw their way, but it doesn't mean it's a good idea. Ditto for dropping fifty thousand at a strip club or anything else people have mentioned.