Close to 80 percent of former NFL players either experience bankruptcy or face significant financial difficulties within two years after retiring from the sport, studies have found. Many times it is because the players are not vigilant in monitoring those who have charge over their money.
That cannot be said about Calais Campbell.
Campbell, with an estimated net worth of $130 million, illustrated this on a recent episode of “Earn Your Leisure” with Rashad Bilal and Troy Millings when he discussed how he had to fire his financial adviser.
Despite placing his trust in his financial adviser to manage his finances, Campbell eventually decided to examine his accounts one day. To his dismay, he discovered that $50,000 was unaccounted for in his expense inventory.
“I see $50,000 just missing. I don’t know what it’s gone for,” he said. “So, I called him up, and he was like, ‘Oh, I meant to take it out of one of the other player’s accounts. I just made a mistake. I’m gone, put it back in right now.’ And he did.”
The funds were meant to be deducted from another player’s account for an undisclosed matter concerning that player’s grandfather. It was nothing dubious, just an honest mistake.
Still, this incident raised doubts about his advisEr’s overall competency, which ultimately led to his dismissal.
“You can’t make that mistake,” the 36-year-old continued. “If I don’t go on and look at this and I just end up missing it, you know? You’re telling me that it’s just an honest mistake. But from the outside looking in, either you were trying to get over on me, or genuinely you were just incompetent.”
Campbell was clear about what he needed to do to protect his own fortune amassed throughout his 15-season career. He had to be vigilant over his portfolio and also work to earn more.
This is why the athlete has recently signed a one-year deal playing for the Atlanta Falcons worth $7 million for the next football season. Not only is there guaranteed money in the deal, he can receive bonuses.
As reported by Sports Illustrated, the $7 million deal for Campbell comprises a $4 million salary and a $3 million signing bonus. Additionally, Campbell has the opportunity to earn various performance-based bonuses.
If Campbell achieves five sacks during the season, he will receive a $500,000 bonus. If he manages to reach eight sacks, he will receive another $500,000 bonus. Furthermore, Campbell has the chance to earn bonuses based on his playing time. If he participates in 60 percent of the snaps, he will be eligible for a $500,000 bonus.
An additional $500,000 bonus awaits if he plays 70 percent of the snaps. In a unique scenario, if Campbell plays 85 percent of the snaps and also achieves five sacks, he will receive a higher bonus of $1.5 million.
No wonder Campbell is on top of his bag.