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Guidance for Professional Athletes: Turning Years into Decades

As a professional athlete — or a college but soon-to-be-professional athlete with one or more Name, Image, and Likeness (NIL) deals — you’ve achieved a place in your chosen field aspired to by millions but reached by few. This is not by chance, but through the countless hours of hard work and sacrifice that led you to incredible life-changing financial opportunities. But those opportunities are not without risk, as the length of your career is likely to be measured in years rather than decades. And without proper financial guidance and planning, the end of your athletic career could be followed by serious financial difficulties.

The professional athlete as CEO

As advisors to athletes, we believe that you are the CEO of a business in which the core asset is you. And as CEO, you should be surrounded by a competent team of tax, legal, and financial advisors dedicated to your long-term success. While every athlete’s legal, tax, and financial picture is different, here are some of the topics we commonly review with our athletes:

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Remember:

You, your family, and your ultimate legacy are your most important business enterprise. The Wells Fargo Sports & Entertainment Group is available to discuss your financial goals — both short and long-term — and how we can help optimize your wealth as you create it.

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