Babson College Helps NFL Players Transition To A New Life
BOSTON (CBS) - With the roaring crowds and lucrative contracts, there can be a lot of glory for professional football players.
But in reality, many players never get rich in the NFL. One reason is the average career is just about 3.5 years.
Mike Rivera always dreamed of playing football professionally. He first suited up in the 7th grade, not knowing where it would lead.
His exceptional talent quickly made him a standout. He played for the University of Kansas and had five quick stints on five NFL teams, including the New England Patriots.
Then it was over.
He was still in his 20s when he had that realization. It sent him back to the drawing board, as he asked himself what he was going to do.
Now the NFL Players Association and Babson College in Wellesley are teaming up to help players like Rivera transition to a new life, one without a ball.
Rivera recently attended "Basic Training – It's my Business", a multi-day program which introduced players to the basics of business.
Babson Professor Fred Nanni helped develop the program. "This particular session we are running now is to give then a taste of entrepreneurship... They have a pile of money typically. I mean they have a very high minimum wage while they are active players, but it doesn't last that long."
Maurice Williams played at Michigan with Tom Brady and had a longer professional career than most players. He didn't retire until he was 30.
Williams said the program is helpful as he looks to develop business ideas. "We are able to use some real business tools that Babson teaches in their MBA programs."
Trading a bench on the sidelines for a seat in a classroom is a challenge, however.
Rivera explained how a player goes from "training and thinking about football 24-7, to focus on something that's not as physical... and now you have to be more mentally strategic, and do things differently. You can't just go out there have that gladiator mentality in business."
The former linebacker and special teams player for the New England Patriots now "hopes to be a better businessman, because that's going to have to last me a lot longer than my football career."
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