John Salley: When Do Greats Have Time to Be Good at Finance? Muhammad Ali Went Broke (Part 13)

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Part 12:
Part 1:
In this clip, John Salley highlights how it’s challenging for athletes who spend their lives honing their athletic talents to become adept at managing their finances. The conversation touches upon the financial struggles of some great athletes, such as Muhammad Ali, who went broke, while underlining the prudent financial choices made by others, such as Rashard Mendenhall, who understood the brevity of his sports career and hence spent judiciously. The conversation also brings to light the lack of business and investment discussions in NBA locker rooms, where the collective worth is enormous, and athletes could stand to learn from each other’s financial experiences. Vlad points out a need for a shift in mentality where athletes are encouraged to make sound investments rather than extravagant purchases. Salley seems to agree, advocating for instilling a culture of finance and investment in the NBA circuit.