Young athletes in the National Football League (NFL) make big dollars fast while they are young and feel invincible—nearly half of the players in the NFL earn more in salary per year than most Wall Street executives. With the average career lasting just three years and physical injuries all too common—along with concussions and arthritis—it’s more akin to riding a unicycle with as much cash as you can carry while balancing on one wheel than a gravy train that you can count on to deliver a lifetime of earnings.
“Career transition is very important,” said former New York Giants Super Bowl Champion George Martin in a 2016 interview with COMMERCE, CIANJ’s flagship publication. “No matter how good you are or how long you play, you eventually will need to leave the game and continue to provide for yourself and your family.”
Thus, wealth management fits perfectly with the NFL, which is one reason PNC Bank and the New York Giants recently signed a sponsorship agreement that aligns the brand of one of the NFL’s most popular franchises with PNC Wealth Management. The five-year agreement, set to begin with the start of the 2016 season, positions PNC as the official wealth management partner of the New York Giants. The agreement is PNC’s first with an NFL franchise dedicated exclusively to its wealth management business.
“Our partnership with the Giants enables us to offer clients exclusive experiences, including interaction with the players, and provides the perfect opportunity to distinguish the PNC Wealth Management brand in one of the most intensely competitive markets in the nation,” explains CIANJ member Linda Bowden, PNC regional president of New Jersey.
The market is home to an estimated 675,000 households with more than $1 million (per household) in investable assets.