October 10th 2023.
Marshawn Lynch, former NFL great, recently admitted to ESPN sportscaster Shannon Sharpe that he was so naive about money that he carried his $3 million signing bonus check around for almost three weeks as a rookie.
The shocking admission was made on Sharpe's "Club Shay Shay" podcast, released on Oct. 4. Lynch, who is currently a part of ESPN's First Take show with Stephen A. Smith, was talking finances with Sharpe. He revealed that when he signed with the Buffalo Bills, he had no idea what to do with his first check and walked around with it instead.
"Realistically I walked around with my uh, with my signing bonus on me for at least, like three weeks. I had my signing bonus on me. Because I ain't know nothing about no banks and all that kind of s**t like that," Lynch said.
He went on to explain that he spoke with a financial advisor and devised a plan to separate the money he made playing on the field and the money he earned off it.
"So, he like, Marshawn it'll probably be good, uh you know if you have somebody help you about your money this, that and a third. Well, I know another financial advisor that I talked to that I pretty I'm like shit, well I'ma just have one over here and I'll give all of my money that I make off the field, I just put it over here and the money that I make on the field I'll put it over here."
Lynch further told Sharpe that this system had worked well for him, as he had two sources taking care of his money - his off-the-field accountant and his on-the-field money advisor.
The Sports Rush reported that Lynch still has $5 million in endorsements every year, even though he's retired from the sport.
It's amazing to hear that even a former NFL great like Marshawn Lynch was so oblivious to money, that he had to be taught how to manage it. His story definitely serves as an inspiration that anyone can learn how to handle their finances with the right guidance and advice.
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