?Where Are They Gonna Get the Education from??: Billionaire Michael Jordan Called Out Major Issue in 2017 That Led to NBA Players Going Broke

Apart from being among the greatest players of all time, Michael Jordan is also among the wealthiest athletes ever. By leveraging his performance on the court, the 6x NBA champion has built an empire worth billions. But not every athlete can successfully make a fortune like Jordan. In an exclusive interview from 2017, His Airness addressed a major issue plaguing the sports world, its root causes and solution.

In 2017, the Chicago Bulls legend gave his two cents on the pestering issue of NBA athletes going broke after retirement or at times even during their playing days. Giving in to his love for cigars, Jordan gave an exclusive interview to Marvin R. Shanken of the Cigar Aficionado. The interview covered a vast range of topics, including that of athletes entering the NBA without a proper education.

Michael Jordan addresses modern-day NBA players going broke

In the?Cigar Aficionado interview, among other things, Jordan also talked about the difficult situation faced by modern-day athletes and NBA players. During one segment of the interview, he pointed out that the primary cause behind NBA players going broke was a lack of sound financial and business education. Moreover, Jordan also highlighted the fact that the agents’ self-serving interests further worsen the problem.

The Chicago Bulls legend gave the example of his own growth and attributed it to the education he received from his agent. As a result, he strongly advocated for the agents to educate their players in all aspects of the business. But MJ also admitted that most agents today lack the motivation and effort to groom these players. He further added that when the agents no longer represent the players, the decision-making process suffers considerably due to the players’ lack of education.

He summed up his argument with the words, “But because the agent is not that motivated and that’s not their energy, they are not teaching the kids, you know, and the kids by the time they are not useful to the agent now have nothing, no decision making, knowledge, a lot of the times they may end up broke, you know they mismanage their money…”

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He further pointed out that the lack of education significantly affected the athletes coming straight out of their freshman year in college. Jordan added, “You know some of those problems can be avoided, especially when you talk about the kids who are skipping college and going to the pros; where are they going to get their education from?”

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Therefore, Jordan substantiated his argument for the players completing their college education before entering the big leagues. Superstars like LeBron James have also advocated for players going to college for an education before entering the league.