NFL star Wale Ogunleye reflects on financial mistakes and warns current players

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Written by Kayla Bailey, Fox Business

Former NFL star Wale Ogunleye uses his financial expertise to work with current and former professional athletes who want to avoid depleting their wealth.

Former Pro Bowl defensive end Adewale “Wale” Ogunleye, who heads the UBS Sports and Entertainment business in wealth management, said he believes athletes are doing what he and many others have done. We have a unique opportunity to help you avoid making the same financial mistakes.

“When it came to my finances, I was putting my own hard-earned money at risk because I didn't understand my finances,” the former Chicago Bears captain said on Wednesday's show Kabuto: Coast.・To Coast”

Mr. Ogunleye emphasized the importance of surrounding yourself with people who seek “real relationships,” not just transactional ones.

“What we've done at UBS is help sports entertainment advisors understand who these athletes are and why it's important to think about life after sport,” Organley said. explained to host Neil Kabuto.

“Careers are short, after all. And if you plan now and surround yourself with the right people, you'll set yourself up for success.”

The former NFL star warned athletes not to become “nodlers” like him.

“There were times when I would hear terms that I didn't understand, but I never seemed to know what I was saying. I just nodded and said yes.” “But the truth of the matter is that most individuals, most Americans, not just athletes, don't understand their finances,” he said Wednesday.

“For athletes, it becomes a problem because they have to make this money for a short period of time. They can't make mistakes. And when it comes to a short lifespan, that mistake is multiplied tenfold. It will expand,” he warned.

“For us, we strive to put our clients, athletes and entertainers in a position to think about their future. They surround us with a network of people,” Ogunleye claimed.

The economic expert concluded that even if you're Tom Brady, who played for 20 years, “you have to understand what's going to happen next.”