“Show me the money, show me the money, SHOW ME THE MONEY!” You can’t think of professional athletes and their business decisions, and not think of Jerry McGuire saying, “Show me the money.” Esquire Network is set to run a ten-part documentary series this summer called, “The Agent.” In a press release detailing the new show, PR reps said, “Behind every professional football player is an agent. Their clients make the plays on the field, but they run the game off the field. Esquire Network gives an inside look at the business behind America’s favorite pastime as cameras follow four top real-life ‘Jerry Maguire’ sports agents navigating the cutthroat world of professional football.”
It’s unclear if the show will be a good thing for the athletes and their agents, and portray them in a positive light, or not. The show will cover draft negotiations, recruiting, endorsement deals, practices and training, and all of the behind the scenes action. All too often ball players are pushed into bad deals, and suckered into weak investments, which ultimately leads to poor financial health upon retirement. Many pro-athletes face such financial hardships after retirement they’re forced to file bankruptcy. Better business advice, even at the point of retirement, can be the difference between bankruptcy and continued success.
At the beginning of their careers many ball players are typically so excited to get in the game, their financial deals are set on the back burner. What’s more, it’s often hard to know who has their best interests in mind. The higher profile stars have access to big name agents, and often the rest of the athletes are left to figure out many of the financial aspects on their own. Fortunately, doing a little bit of homework to find a financial adviser with an excellent reputation, eagerness to communicate, and ample experience isn’t out of reach for any athlete, and will ultimately pay dividends in their future. Hopefully, the series will expose some of the realities that many of the athletes face, and allow future players to know what to expect from the game, the agents, and the world they’re heading into.
Remember, running a business successfully does not need to be complicated. Keep it simple!
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Manny Skevofilax is a consultant and speaker that assists his clients with successfully navigating the challenges of growing their businesses profitably. Since 2003, Manny helps businesses to enhance their financial results by using his experience in strategic planning, financial statement analysis, operations, and team-building. His consulting firm, PORTAL CFO Consulting, Inc., has attracted clients from diverse industries in the United States and abroad.
Manny can be reached at 410-808-3441 or via email at firstname.lastname@example.org.