Breaking the Stigma of Athletes Mishandling Money

The fans remember the highlights but the franchises remember the technology, data, and inventions that powered their season. Host Tyler Kern sits down with the innovators, leaders and founders that are taking sports into the future.

 

Professional athletes and entertainers receive large paydays during their careers. However, many lack the knowledge or have the right people around them to not go broke. Wale Ogunleye, who played 11 years in the NFL, wants to change all that by leading UBS’ Athletes and Entertainers Strategic Client Segment. He joined host Tyler Kern on Salary Capped to share his experiences and current mission.

The number one thing new drafts need to realize, Ogunleye said, is that “this is business time.” Players have to know they are the business of football now, and that’s true of anyone signing a lucrative contract.

“We want to support them with the infrastructure to move into being an entrepreneur and businessperson. In investing, you need to know about the business. You wouldn’t go out on the field without knowing the playbook. It’s the same principle.” – Wale Ogunleye

Ogunleye was in the same situation, and he admits he had zero financial literacy during his playing days. He’d like to see the league take a more proactive rather than hands-off approach.

“Give players more life skills, balancing a checkbook, credit score awareness, and vetting those around them and also explaining a contract. There’s so much jargon and complex information. Help players understand it better,” he said.

Because of his experience and so many cautionary tales, Ogunleye has become a disruptor to the industry. “We want to support them with the infrastructure to move into being an entrepreneur and businessperson. In investing, you need to know about the business. You wouldn’t go out on the field without knowing the playbook. It’s the same principle.”

Ogunleye noted that sports stars and entertainers can build their own brands now and go direct to fans through social media. He believes this is the future of monetizing their brand and aligning with companies. To do that, they’ll need guidance and investors they can trust.

At UBS, Ogunleye’s leadership of this new division is about bringing his experiences and the company’s to adapt to new needs and ensure the money they make lasts.

Follow Along for a New Episode Every Monday!

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Image

Latest

Listen Carefully, Respond Creatively
April 12, 2024

In this captivating episode of the Fans First series, Jesse Cole, the mastermind behind the Savannah Bananas, delves into the transformative business philosophy of “listen carefully, respond creatively.” This approach has not only skyrocketed the Savannah Bananas to fame but also serves as a universal blueprint for revolutionizing customer service and engagement across all sectors. […]

Read More
Stacey Childress, Senior Advisor at McKinsey and Company, discusses higher ed
Bold Measures are Needed to Improve Investment in Higher Education
April 12, 2024

The stakes for higher education have never been higher as the educational landscape sees rapid evolution. As universities and colleges grapple with the dual challenges of technological disruption and increasing demands for accessible, quality education, the question of how best to implement investment in higher education becomes a priority. This debate has been ignited […]

Read More
wake up healthy
Hey, it’s 9 am… Wake up Healthy with 9amHealth!
April 12, 2024

Healthcare Rethink host Brian Urban explores ways to wake up healthy and stay healthy with his guest, Dr. Avantika Waring, MD, the Chief Medical Officer, at 9amHealth. This episode delves into the transformative approach to healthcare delivery championed by 9amHealth. Dr. Waring’s journey from a humanities student with a love for French to a […]

Read More
public safety and security
Strengthen Public Safety and Security: Modernize Radio Communication for Better Field Response
April 11, 2024

The importance of radio communication within public safety and security operations remains unbeaten in an era dominated by digital transformation. This medium, essential for over a century, continues to be the lifeline for responders on the front lines. From ensuring the safety of field agents to facilitating real-time critical information flow and enhancing situational […]

Read More