JP Morgan Athlete Center of Excellence: athletes need a financial playbook now more than ever
· Fortune
For years, the playbook was simple: athletes focused on their sport first, and financial planning came later. Only after signing a professional contract did they typically hire advisors, accountants and attorneys — and start thinking seriously about managing their wealth.
That timeline often no longer reflects reality. The sports industry has made tremendous strides in creating new ways for athletes to earn money. The next challenge is ensuring they have the knowledge and support to manage it.
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Today, many athletes start earning meaningful income long before they turn professional. The College Sports Commission estimates that student-athletes received $1.77 billion in revenue-sharing pay in 2025-2026. Name, Image and Likeness (NIL) opportunities have accelerated that shift, giving student-athletes access to sponsorships and business opportunities while they’re still in school.
At the same time, the demand for financial guidance is growing. The 2022 NCAA Student-Athlete Well-Being Study found that many have a strong desire for more resources on financial literacy and taxes.
There is a big focus on creating more earning opportunities for athletes. We now need to put the same energy into helping athletes prepare for the financial responsibilities that come with them.
Decisions are coming earlier
Too often, financial education starts after the money arrives. By then, habits have already formed and important decisions may have already been made.
The reality is that some of the most important financial choices for athletes happen before they sign a major contract. How do taxes work? How much should I save? How do I navigate money conversations with friends and family? Who should I trust?
These aren’t professional athlete questions. They’re life questions. And athletes are encountering them earlier than ever before.
One thing I’ve learned from conversations with athletes in my role at J.P. Morgan’s Athlete Center of Excellence is that they’re eager for this guidance.
I’ve spoken with current players who — when they were earning NIL income — budgeted for spending and invested the rest, only to find themselves short on cash when tax payments were due. They had the right pieces in place but only became fully engaged when there was a need to be. I’ve seen a lot of players learn to bring in their financial advisor this way — relying on the advisor to then quarterback communication among their agent, attorney and accountant.
Athletes need to think like CEOs
Athletes should not be expected to be financial experts.
Just as athletes rely on coaches, trainers, nutritionists and medical professionals, they should be able to rely on trusted specialists for financial guidance. But athletes should also have basic financial knowledge so they can ask thoughtful questions, evaluate advice and make informed decisions.
I often encourage athletes to think of themselves as the CEO of their own business. You don’t have to master every function of the organization, but you should understand how the pieces fit together and remain engaged in the decisions that affect your future.
That mindset has become increasingly important as athletes build personal brands and create new income streams earlier in their careers. Today’s athletes aren’t just managing contracts. Many are navigating partnerships, content opportunities, business ventures and NIL deals at a young age.
The financial complexity has increased, and adequate preparation needs to increase with it.
What happens next?
The answer isn’t limiting opportunity for athletes. It’s building a stronger foundation of education and support around it.
First, we need to start earlier. Financial fundamentals should be introduced in high school, before athletes encounter significant earnings. By the time money arrives, the framework for managing it should already be in place.
Second, financial education cannot be a one-time conversation. Athletes’ needs evolve as they move from high school to college, turn professional and transition out of sports. The guidance they receive should evolve alongside them.
One of the reasons the JPMorganChase Athlete Council was created was to hear directly from athletes. This way, we can better understand the financial questions they’re facing and develop resources that reflect their real-world experiences, not our assumptions.
Athletic careers are unlike almost any other profession. Most people earn income over several decades. Athletes often earn a huge portion of their career income over a much shorter period of time. Opportunities can arrive unexpectedly, and they can disappear just as quickly.
If we want athletes to thrive not only during their playing careers but throughout the rest of their lives, we need to start with financial education long before the first major paycheck arrives.
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