As the 2024 NFL Draft approaches on Thursday night, former Florida State University defensive tackle Braden Fiske will join hundreds of other college football players eagerly waiting to hear their names called as they begin their professional careers. According to a roundup of mock drafts, Fiske is currently projected to be selected in the second round of this year’s event, which could potentially earn him an estimated $8 million over four years, including a signing bonus worth around $2.7 million, according to MarketWatch. However, whether or not his impending windfall will result in a new car remains uncertain as Fiske is currently satisfied with the Honda Accord that has carried him for 150,00 miles without causing any significant inconveniences yet due its functionality in transportation needs alone, albeit “way too big” to fit into.
The idea of young athletes immediately reaping vast fortunes after being drafted by NFL teams is a familiar narrative surrounding the annual event. However, things have evolved since the NCAA allowed college football players to monetize their names, images and likenesses (NIL) in 2021, thereby relieving them of the requirement that they maintain an “amateur” status while playing collegiate sports. Consequently, many student-athletes are now able to earn significant sums from endorsements deals as well as other commercial opportunities worth thousands or even millions of dollars for some players.
Fiske is one such athlete who has benefited immensely from the new rule change. In 2023, he signed a “six-figure NIL deal” with The Battle End collective designed to assist Florida State University (FSU) footballers in earning money through their names and images. Although Fiske hasn’t disclosed exactly how much cash he made from these arrangements while playing college ball, he told Business Insider that the new source of income transformed his life for the better by providing him with a sense of financial security lacking previously during tough times when resources were limited.
With this latest windfall looming on the horizon as Fiske prepares to learn where his NFL career will begin, he’s already taken proactive steps towards managing and growing his wealth. He has hired an expert in personal finance management to help him make informed decisions about how best to spend his future football earnings. Moreover, following the lead of other professional athletes like Tom Brady who swear by the concept that you don’t earn interest until it compounds through investing wisely from early on; Fiske revealed he put much of this money into a brokerage account in the stock market as part of an investment strategy aimed at securing his retirement.
While many college footballers may still have plenty to learn about how best to manage their finances, particularly now that they can earn significant sums from NIL deals and other commercial opportunities; Fiske believes more financial literacy training is required for student-athletes generally. Despite having made some sound decisions early on following the receipt of his initial tranche of money via these means in 2023, he acknowledged that he also made “a few mistakes” during this period when initially overwhelmed by the sizeable sums involved.
In an interview with MarketWatch last year, Fiske admitted to being a sneakerhead and having splurged on shopping sprees at malls after seeing dollar signs. However, once his NFL career gets underway following Thursday’s draft ceremony in Detroit, he expects that the sizeable sums involved will eventually prompt him to give into temptation and buy himself an even more luxurious set of wheels.
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