Two of the most well-known young athletes are the small forward/power forward for the Boston Celtics, Jayson Tatum, and the running back for the New Orleans Saints, Alvin Kamara. While the latter and the Saints agreed to a five-year, $75 million deal extension in the same year, the former signed a massive $163 million contract back in 2020. Despite having enormous sums of money available to them, these two athletes have yet to spend a single penny of their contracts and do not have any immediate plans to do so.
Why, then, don’t they use their money? Their mothers hold the key. Tatum disclosed that he made a deal with his mother, Brandy Cole, not to spend any money from his contract with the Celtics during an interview on “In Depth With Graham Besinger.” On the other side, Kamara revealed on “Uninterrupted Kneading Dough” that watching his mother, Adara work nonstop to pay the bills motivated him to guard every dollar he earns.
But how do they survive if they don’t use any of their contracts? Given their notoriety and success, the response is obvious: endorsement deals. In addition to non-basketball-related sponsors like Subway and Gatorade, Tatum has relationships to promote key NBA-related brands like Jordan and EA Sports videogames. Moreover, Kamara has pertinent business agreements with a few additional companies like Visa, Adidas, and Underdog Fantasy.
A number of NBA and NFL stars who didn’t plan their spending and spent their money as soon as they received it ran into financial difficulties. Yet Tatum and Kamara’s commitment to adequately handling their riches ensures that they won’t experience the same issues in the future. As they advance in their occupations, their mothers’ impact on their financial judgement will probably pave the way for a prosperous and secure future.
This outstanding accomplishment serves as a perfect example of how crucial it is to create a financial strategy and handle income sensibly. Athletes’ careers only sometimes continue forever, so they need to have enough money saved up for after their sporting careers are gone. Because of their long-term planning, Tatum and Kamara can benefit from their success both on and off the pitch, even if they decide not to use their enormous contracts.
Athletes’ financial mishandling has increased frequently as sports have become more lucrative. Tatum and Kamara’s particular circumstances demonstrate how carefully managing earnings makes it feasible to withstand temptation and maintain an eye on the long term. And if the impact of their mothers is anything to go by, they’ll keep doing it for years to come.
