Dignity After Football

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Dear Alumni:  

Drew Brees has been widely considered one of the best Fantasy Football signal callers during the past couple of seasons, but he is definitely in Fantasy Land when he talks about retired players.  

He believes that most retired players want increases in the Pension Plan because they made bad investment and money decisions. Drew Brees learned that the hard way early in his career. In an Associated Press article he recalled how he failed to pay a cell phone bill and it went to collections. "It took me my first couple of years in the league to learn through experience," he said.

  Wow……..that must have been a real difficult period of time for Drew.  

Tom Condon, his IMG Sports Agent could only get him $980,000 worth of sponsorship and endorsement deals in his first year in the NFL and the millions he made in his first contract with the Chargers apparently was not sufficient to make ends meet…….how could he possibly pay his cell phone bill!

  To make things even tougher on Drew, he got injured in 2005 and had to search the entire country to find a surgeon to repair a damaged rotator cuff in his throwing shoulder. He found Dr. James Andrews, widely regarded as the best orthopedic surgeon in the country.   

It was so much easier back in the old days.  We had a surgeon that was hired by the team, so we didn't have to go looking all over the country.  We didn't have to worry about getting second opinions, because that wasn't allowed. In fact, the League was so confident in each team's choice of surgeons, it was against League rules to go to any other surgeon.  

Fortunately for Drew, his story has a happy ending. He got healthy and Tom Condon helped him negotiate a six year $60 million deal with the Saints, which included a $10 million signing bonus.

With that kind of money, he could make some bad investments and still live a pretty comfortable life.   When Drew leaves football he'll also receive a hefty Severance check, a Second Career Savings Plan account, an Annuity account, Tuition Assistance account, 5 years free health coverage, a Health Reimbursement Account and a good Pension.   

Oh,……we can't forget that for the past 8 years he has also received $10,000 annual checks from the NFLPA for his Group Licensing Authorization, but that's peanuts compared to his other NFLPA checks for appearances and other group licensing activities.   Does anyone really think Drew Brees will need a Second Career Savings Account?  

Drew Brees clearly understands what Gene Upshaw meant when he said that every time active players give retired players increased benefits it takes away from what they can give themselves.  

"A man is usually more careful of his money than he is of his principles." - Edgar Watson Howe  

Sincerely,

Jeff Nixon

Fourth & Goal Board Member

Buffalo Bills Alumnus

 

 

 

 

 

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