Ex-NFL star Jason Bell talks life after sport

• Interview with Former NFL player Jason Bell reveals what life is like when athletes come to the end of their careers
• Bell’s NFL career was tragically cut short due to injury in 2008
• Post-football, he went in a different direction, setting up Horizon’s Masters Private Client Group, set up to empower athletes to handle their finances

No matter how long they try to rage against the inevitability of age, it is a question every athlete faces – what comes after sport?

There’s no easy answers.

This extremely difficult conundrum is no more keenly felt than by National Football League (NFL) players. You hear of superstars like Patrick Mahomes who could earn up to $503 million over the course of his contract with the Kansas City Chiefs.

What about those players who don’t command the same value? The minimum annual salary for an NFL rookie is $480,000 – by no means chump change.

Yet an extremely disturbing report from Sports Illustrated in 2009 painted a picture of NFL athletes, in particular, struggling with the financial realities of post-football life. Shockingly, it estimated that within two years of retirement from the NFL, 78% of former players had gone bankrupt, or were suffering from huge financial stress due to a lack of job or relationship breakdown and divorce.

Considering that the NFL employs over 1,600+ players each season (53 man squads across 32 teams), the scale of financial distress, claimed by Sports Illustrated, is frankly mind boggling.

Jason Bell is one such athlete who had to deal extremely quickly with the harsh realities of life after football.

He is a seven-year veteran of the NFL, having played cornerback for the Dallas Cowboys, Houston Texans, and New York Giants, following a successful college football career at UCLA. Sadly in 2008, he was forced into retirement during his time with the New York Giants when he aggravated an existing back injury while working out in the offseason.

Despite such an unfortunate end to his NFL career, Bell had already begun to build a plan before he retired about what would come next – a rarity, especially over a decade ago. Towards the end of his career in the NFL, Bell joined forces with Peter Roe to become a founding partner of Horizon’s Masters Private Client Group where the pair specialise in providing financial education and counseling to athletes and entertainers. 

Bell now lives in London and is of course much more well known now as the co-host of the BBC’s wildly popular The NFL Show and The Jason & Osi Podcast with fellow former NFL player Osi Umenyiora.

I spoke with Jason about his own experiences as an athlete trying to deal with his finances, as well as what advice he would pass on to younger sports stars now. This piece follows on from a series of posts examining the issues facing athletes, including a previous post exploring how important mental health has become for athletes.

What’s It Like As An Athlete?

Jason explains his own experience: “I think as a player you understand very quickly who you are. You are either going to make enough money that you won’t have to do anything else for the rest of your life, or you can be a middle of the road athlete like I was who had a good head start on life.”

“I knew I was going to have to have another career and do something else once my playing days were over and the NFL gave me a great start. I invested wisely for my future and had my retirement set up. I got my education and made steps towards my career post-NFL. But every athlete’s financial situation is different and it’s theirs.”

His own career was quite unique – he was an undrafted free agent coming out of UCLA in 2001 and was picked up by the Dallas Cowboys. As he explains it, the financial benefits and responsibilities, especially at the start of his career were not easy to handle.

“No matter how much you think you know and how much you’re prepared, it’s always a challenge because it’s all-new. That first year and that first sum of money you get it’s a shock, it’s an emotional shock. Part of the reason is, no matter what your financial knowledge is to that point, you’re just dealing with so many unforeseen things that a person that age doesn’t usually have to handle. And it’s all in a time sensitive manner.”

The ex-NFL star provides a pointed example of what this could be.

“Things like you just got on a team and if you’re a person who just got a large signing bonus – what do you do with that? How do you protect that? Things are moving so fast and it can be hard to get a grip of everything. Especially because you want to understand things, but you have to make decisions when you haven’t built that trust yet.”

Did he have any specific financial regrets from his career?

“Moving too quickly. Sometimes you get pressured into things, where you think you’re going to miss an opportunity. You speed up the process and make bad decisions and I’ll be the first to admit that. But you learn from it.”

Veteran athletes were a source of huge assistance for Jason in his career though.

“One of the best things I did was I spoke to the guys in the locker room that I could see were on top of it. The way they talked, the things they did, you could tell they had experience. That’s what I was trying to get.”

“Guys like Darren Woodson in Dallas, and Aaron Glenn in Houston. They just moved differently. They were some of the highest paid players, but they didn’t necessarily have the newest cars. My advice would be to look for that person on your team, the kind of person you want to emulate. When I approached those guys, not only were they open, but if you actually followed their guidance, they opened up even more because they knew their words were not wasted.”

Why Do Some Athletes Struggle To Manage Their Finances?

While the Sports Illustrated findings are undoubtedly shocking, athletes are likely under the microscope more when it comes to their finances. Society as a whole is struggling to manage their finances, with research estimating that up to 40% of Americans are just one paycheck away from poverty.

Jason picks up on this point when outlining his views on the struggles of athletes financially.

“I think it’s more than an athlete question.”

“People love to make it about athletes, because you can really focus on that group. Imagining anyone when they retire, regardless of their situation, they struggle. Here’s something you’ve done your whole life and suddenly you just stop.”

Athletes are in a particularly unique position when they retire, as he can attest to.

“A lot of athletes retire at an age when most of their peers are in the middle half of their career, they don’t have many people going through what they are. At 30 years you’re retiring and it’s a lonely place. A lot of organisations are really doing a very good job, making players aware of the support around them and connecting them with other athletes who have been there and done that. But the reality is, nobody retires with you. That’s a decision you make on your own and the aftermath isn’t always easy.”

In Bell’s view, there one thing he has seen from his own experience that many athletes have trouble keeping a lid on when it comes to their financial health.

“Spending more because you have more. A lot of athletes, before they got paid they were happy, life was good, they had things. All of sudden they can afford more, so they do more. At some point, they realise they don’t need all those things, or want those things.”

Yet what can be done to change this troubling situation where athletes seem to be in serious financial situations quite soon after retiring?

“Awareness. Talking about it is the first step. Former and current players in their respective leagues and sports need to talk about it when they go through it. Understand that, although it may feel like it, you’re not alone, people have been on this path before and don’t feel bad about it. We need to give them resources and provide people they can reach out to.”

“The NFL has a players’ trust including people who reach out to you. Sometimes you need people to call you when you’re going through it, rather than the other way around. People aren’t always forthcoming or willing to admit that they’re struggling unless someone asks. The key is to have a plan for when you go through those emotions. In previous generations nobody talked about it, you thought you were alone, so you were just quiet. When you retire, it’s like a part of you is dying, it’s a mourning process.”

Why Start Horizon’s Masters Private Client Group?

As mentioned, his path, post-career, has been particularly one-of-a-kind. Jason obtained an MBA from University of Miami in 2017, building on his BA from his time from UCLA.

“It was very important. Not only what you’re learning but how you’re learning. The key is understanding how you learn. Education never stops. Understanding how I learnt was the key.”

“Education has given me the key to understand that I can accomplish anything as long as I have the techniques and tools. It doesn’t have to be education at an institute or university to do that. There is so much information out there, you just have to look.”

His motivation for being a founder of Horizon’s Masters Private Client Group was clear also.

“I got into business because I wanted to educate players.”

“When I started and knew I was going to pursue this as a career, it was all about translation and understanding the concepts. Most people in the industry made it difficult so they could keep control. I wanted to teach athletes the game, teach them the rules, teach them the concepts. I enjoy that process because as the years progress when they have the same understanding as me and can speak on the same level as me then I know I’ve done my job.”

Jason’s Advice To Athletes

When speaking to Jason he repeatedly covered off the experiences he had which he feels translates into some critical financial advice for athletes.

“I would say to athletes, don’t be rushed, don’t let anybody rush you. There are some things that are time sensitive, for example you want to get your will and life insurance together in case anything happens. But with things like investments, there’s no rush. It’s important to take your time and think critically about it.”

“My advice is to be true to yourself. Don’t feel like you have to impress anyone. A lot of people show off to make people feel this perception that they have things, that they’re successful. We don’t have to get caught up in that game. I wish athletes would understand that. I think there’s a level of insecurity in everyone and I think athletes should be able to handle that better than anyone. If you like something and you’re into something, you should do that and reward yourself. There’s nothing wrong with enjoying the fruits of your labour. But social media and having our lives played out so publicly, it has increased that look at me game.”

“I hope Covid-19 has brought that to the fore, the understanding that you don’t need material things.”

“Athletes have to understand that this money they’re earning has to last a lot longer than other people’s because their earning potential is limited by the length of their playing career. You need to grow your earnings and protect it.”

“I would advise them to approach their finances like they do their sport, with the same preparation and planning as they do as an athlete.”