4/23/14 Zell Lurie Institute 2014 entrepreneurial luncheon.
Len Middleton, professor of corporate strategy, international business and entrepreneurship, appeared on CBS Sunday Morning this weekend to talk about athletes who mismanage their fortunes. He appears in the segment talking about a new business class he teaches geared directly toward young, future professional athletes on how to manage their money so they don’t go broke by the time they retire. Prof. Middleton attributes this to the lottery effect: the feeling that they’ve won the lottery when they sign their contracts. The correlation between the athletes who spend all of their money is a lack of knowledge. Prof. Middleton says, “It’s not rocket science; it’s not hard to learn. It’s just being exposed to it.” Athletes who have recently taken this class include Zach Nagelvoort (NHL) and Christian Covington (NFL).
You can watch the full video segment on CBS News here and read the full article here.