How Morgan & Morgan Teach Young Athletes to Build Wealth

Segment Spotlight: Quick Hits From Outspoken With Dan Sileo

Helping Young Players Build Long-Term Financial Security

Teaching young players how to manage substantial earnings is a priority. On the Morgan Morgan side, the approach includes offering fatherly or brotherly advice whenever possible, though the involvement is not as extensive.

On the agency side, financial guidance is much more intensive. Players are leaving with money market accounts generating as much as $20,000 per month for life. The focus is on helping those earning significant amounts make responsible decisions rather than immediately purchasing luxury cars.

Instead of allowing a player to buy a Mercedes, the agency may negotiate with a dealership to provide a car free for a year in exchange for an appearance and signing. The same long-term approach applies to endorsement deals. Rather than accepting a $50,000 check from an energy company, the agency prefers stock-based agreements that include ownership in the brand and a smaller amount of cash.

These strategies are designed to look beyond immediate earnings and consider where college players could be financially 15 or 20 years from now.