One of the biggest concerns to date is the lending practices of NFL players in need, or with a strong desire, to take out loans.  These loans typically have terrible interest rates attached to them, which players will be complaining about for years to come.  Some interest rates exceed 20% of the loan amount. Some NFL players are turning to high-risk loans to make ends meet.

Another reason players are borrowing now — before even missing a major payday — is that they may be afraid credit will dry up if the lockout continues into the NFL season, said Darren Heitner, an agent and the author of sportsagentblog.com. After all, if interest rates are this high now, what will they be like when players start to miss game checks and lenders know they are even less likely to be repaid?



It is said to see this happen to professional athletes especially the amount of money they first start to  make when they get in the league. Not having a good sense on how to budget their finances and being able to save for a rainy day is putting a strain on many football players and their families.  Hopefully both sides can come to an agreement and the athletes can just focus on what they do best.  Play the game...


Resources
www.prioritysports.com
www.suresportslending.com
www.agrsportsfunding.com
www.sportsagentblog.com

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