2008 Woodie Awards
M.L. on the N.F.L.
What the Big Boys are reading
Mary Lane
Issue date: 10/18/07 Section: Sports
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Professional sports enthusiasts read ESPN Magazine, Sports Illustrated and, obviously, this column. Pro athletes read Overtime, a magazine published by the Professional Business & Financial Network, founded and run by retired San Diego Chargers cornerback Ryan McNeil. I was fortunate enough to conduct an e-interview with McNeil to discuss the evolution of his magazine.
Overtime, marketed as "the business and lifestyle guide for professional athletes," addresses one of the hidden yet prevalent problems in the NFL-the cut or retired player who is stuck in the tricky quagmire of new, undirected wealth at the average age of 27, where time is of the essence in determining a new career path.
These men have enough money to live comfortably, but little information on how to manage money properly, set career goals and network or live a life outside of the umbrella of an NFL franchise.
When McNeil looked for advice on how to manage his income and assets in 2001, he discovered that there really weren't any good financial resources out there for pro-athletes.
"My first thought was to try to connect with older, more business-savvy athletes so I could learn from them," wrote McNeil. "But what I found was very little information and few resources to help in the process. I figured if I was having trouble finding this, then others like me were having the same issues." As a solution, McNeil began publishing Overtime, which now has a circulation of over 50,000 readers. "We pride ourselves on exposing new and different opportunities and information [for our readers]."
Of course, financial advising firms are all too eager to manage players' assets, but PBFN and Overtime help players learn ways in which to manage their money and market themselves. Such a skill is crucial and often foreign to players who grew up never thinking they would earn six or seven-figure salaries.
The average NFL career lasts only 3.8 years, and while most salaries are not at the Tom Brady level, "most are in the highest tax bracket, so taxes take a considerable portion of earnings in a short period of time," wrote McNeil. "Many athletes don't make what some consider 'big' money until their second or third contract or when they become unrestricted free agents."
Overtime, marketed as "the business and lifestyle guide for professional athletes," addresses one of the hidden yet prevalent problems in the NFL-the cut or retired player who is stuck in the tricky quagmire of new, undirected wealth at the average age of 27, where time is of the essence in determining a new career path.
These men have enough money to live comfortably, but little information on how to manage money properly, set career goals and network or live a life outside of the umbrella of an NFL franchise.
When McNeil looked for advice on how to manage his income and assets in 2001, he discovered that there really weren't any good financial resources out there for pro-athletes.
"My first thought was to try to connect with older, more business-savvy athletes so I could learn from them," wrote McNeil. "But what I found was very little information and few resources to help in the process. I figured if I was having trouble finding this, then others like me were having the same issues." As a solution, McNeil began publishing Overtime, which now has a circulation of over 50,000 readers. "We pride ourselves on exposing new and different opportunities and information [for our readers]."
Of course, financial advising firms are all too eager to manage players' assets, but PBFN and Overtime help players learn ways in which to manage their money and market themselves. Such a skill is crucial and often foreign to players who grew up never thinking they would earn six or seven-figure salaries.
The average NFL career lasts only 3.8 years, and while most salaries are not at the Tom Brady level, "most are in the highest tax bracket, so taxes take a considerable portion of earnings in a short period of time," wrote McNeil. "Many athletes don't make what some consider 'big' money until their second or third contract or when they become unrestricted free agents."
Viewing Comments 1 - 1 of 1
Charles S Donnavan
posted 10/31/07 @ 3:31 PM EST
I have written for Overtime Magazine and when they paid me, their check bounced and they refuse to pay me the money they owe me or the fee I was charged by the bank. (Continued…)
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