JP Morgan Athlete Center of Excellence: athletes need a financial playbook now more than ever

For years, the playbook for athletes was simple: prioritize sports and address financial planning later. Only after signing a professional contract did they typically consult advisors, accountants, and attorneys. However, this timeline is no longer accurate. The sports industry has evolved, allowing athletes to earn money in new ways.

Many student-athletes now receive revenue-sharing pay, and NIL opportunities provide access to sponsorships and business ventures while still in school. With the demand for financial guidance growing, it's crucial to prepare athletes for the financial responsibilities that come with their careers. Financial education should start earlier, with basic financial knowledge introduced in high school before athletes experience significant earnings.

As athletes build personal brands and create new income streams, they need to think like CEOs, understanding how the pieces fit together and engaging with financial advisors to navigate questions like taxes, savings, and money conversations with friends and family. The J.P. Morgan Athlete Center of Excellence aims to provide this guidance, emphasizing that athletes should rely on trusted specialists for financial support, just as they do for athletic training.