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TBL FINANCIAL LITERACY NEWS

The Basketball League > News > TBL FINANCIAL LITERACY NEWS

The Basketball League (TBL) Adopts FLEC Subjects to Empower Players with Personal Finance, Career Readiness, and Entrepreneurial Skills

The Basketball League (TBL) is taking an innovative and impactful step by adopting FLEC (Financial Literacy, Entrepreneurship, and Career Readiness) Subjects to support its players in building well-rounded and sustainable futures. Recognizing the importance of equipping players with skills that extend beyond the court, TBL has embraced this initiative to help athletes master essential financial concepts, explore entrepreneurial opportunities, and prepare for life after basketball.

The National Financial Educators Council (NFEC) – founder of FLEC Subjects – has been a long-term partner of TBL, working closely to provide resources and expertise for this transformative initiative.

Empowering Players Beyond the Game

Professional athletes often face unique financial and career challenges. Transitioning from sports to other professional opportunities can be difficult without the right tools and knowledge. By integrating FLEC Subjects into their player development programs, TBL addresses this issue head-on, giving players the resources they need to thrive during and after their athletic careers.

  • Financial Literacy: TBL’s adoption of FLEC Subjects ensures players gain foundational financial knowledge. This includes budgeting, managing investments, understanding credit, and planning for retirement. These skills are critical in helping players avoid the financial pitfalls affecting many professional athletes.
  • Entrepreneurship: TBL has partnered with Charles Fisher of the Hip Hop Summit Youth Council to provide players with an entrepreneurship course from Daymond John, Shark Tank star and successful entrepreneur. Whether launching their own businesses, investing in startups, or managing endorsements, players are encouraged to see themselves as business leaders and innovators.
  • Career Readiness: Beyond basketball, TBL prepares players for career opportunities by teaching skills such as interviewing, networking, personal branding, and public speaking. This comprehensive preparation helps ensure players have a clear path for success after their playing days are over.

Why FLEC Subjects Matter for Athletes

Statistics reveal the financial struggles that many professional athletes face. Research shows that many NBA, NFL, and MLB players go broke within a few years of retiring due to poor financial decisions and a lack of career planning. TBL’s integration of FLEC Subjects directly combats these challenges by giving athletes the tools to make informed decisions and set themselves up for long-term success.

  • Long-Term Financial Stability: Players learn to manage their earnings effectively, ensuring financial security throughout and beyond their playing careers.
  • Entrepreneurial Opportunities: With guidance on launching businesses and exploring investments, athletes can create additional income streams and future opportunities.
  • Career Transition: Preparing for life after sports can be daunting, but FLEC Subjects help players identify passions and opportunities outside basketball.

TBL’s Commitment to Player Development

TBL’s adoption of FLEC Subjects is part of its larger commitment to holistic player development. By focusing on the personal and professional growth of its athletes, the league is setting a new standard for player support in professional sports.

“Our mission is to develop not only great basketball players but also great individuals who are prepared for life beyond the game,” said Evelyn Magley, CEO of TBL. “The integration of FLEC Subjects reflects our commitment to empowering our players to take control of their financial futures, pursue entrepreneurial opportunities, and transition seamlessly into successful careers.”

Vince Shorb, CEO of the National Financial Educators Council, shared his thoughts on this initiative: “The ability to earn and manage money is the foundation for creating a brighter future. By equipping athletes with the knowledge and skills to make informed financial decisions, we’re not just preparing them for their careers but also empowering them to lead fulfilling and secure lives. TBL’s commitment to its players is setting a standard that all sports organizations should follow.”

Building a Brighter Future for Athletes

The adoption of FLEC Subjects by TBL represents a significant step forward in supporting athletes both on and off the court. By providing players with financial literacy, entrepreneurship, and career readiness training, TBL is ensuring that its athletes have the knowledge and tools to lead fulfilling and prosperous lives.

As the league continues to prioritize the holistic development of its players, TBL is setting a powerful example for other sports organizations to follow. This initiative not only benefits individual athletes but also contributes to the long-term sustainability and reputation of the league itself. By empowering players with these essential life skills, TBL is truly making a lasting impact on the game’s future—both on and off the court.