Philadelphia 76ers Rookie Puts Salary in Trust: A Smart Choice?

Matt Dzamba, director of sports marketing from creative agency Zambezi, said, “This kind of ‘forced’ discipline is a very progressive move for a pro athlete starting his career.”

The lack of financial health is a major epidemic in pro sports, Dzamba said, with 60 percent of NBA players declaring bankruptcy within five years of their athletic retirement and some 78 percent in the NFL doing so, according to a Sports Illustrated report.

“With rookie contracts capped in the NFL and NBA, the ultimate financial success of many careers are determined by the second pro contract,” Dzamba said. “Protecting the first contract by essentially locking it up takes a lot of pressure off the player both on and off the court.”

From Hamilton, Mass., a suburb of Boston where his family still lives, Carter-Williams went to boarding school in Rhode Island and played basketball at Syracuse.

His mother, Mandy Carter-Zegarowski and her best friend are running Carter-Williams’ management team, the newspaper reported.

“Our goal is to work with Michael to manage his money in a way that will secure his long-term financial future,” Carter-Zegarowski said in a statement provided to ABC News. “Right now, the focus is not only to save as much as possible, but also to use his unique position to serve as a role model and give back to the communities that continue to support him and his career.”

“They are taking a proactive approach to make sure he doesn’t spend all his money in a couple of years,” writes Keith Pompey, staff writer for the Inquirer.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *