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7 financial pitfalls for professional athletes

INDIANAPOLIS — With the recent news about former NFL running back Clinton Portis declaring bankruptcy and the news about Marshawn Lynch saving move of his money, financial literacy and wealth management have been hot topic this offseason.

Portis made nearly $43 million over his nine year career, but recently revealed that he’s nearly $5 million in debt. Lynch, who’s retired, has saved nearly $50 million from his base salary over 10 years.

The Morgan Stanley Global Sports and Entertainment Group held a seminar for NFL prospects and their families at the Senior Bowl.