Author Archives: Billy Stephens

More than half of all professional athletes will be financially broke within 5 years of finishing their playing careers. According to Sports Illustrated, 78% of NFL players go bankrupt or nearly broke just two years into retirement and among NBA veterans, 60% fall into the same predicament after five years. Sure …
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Our CEO Trish Kennedy was on site at Radio City Music Hall in New York City today to announces the New England Patriots 4th Round selection Josh Boyce. Check out this clip of Trish live on ESPN making the announcement:     Best of luck for a great NFL career, Josh!

SportsMoney’s team of experts have met and spoken with many athletes who were faced with significant financial difficulties when their playing careers ended. We discovered a consistent theme in many of their lives that created the environment that led to their money running out. We call it “The Sneak Factor™”. What we found should not …
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After talking with hundreds of current and retired professional athletes and surfing through hundreds of articles, here is our list of the top reasons that professional athletes go broke (in no particular order):   1) Lack of Visibility into Spending
 2) Creating Entitlements
 3) Risky Business Investments
 4) Generosity
 5) Legal Issues
 6) Tax Issues
 …
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