How Athletes Go Broke

Briefly explain why you are interested in studying your topic: 

 I am a huge sports fan. I enjoy watching almost every professional sport: football, baseball, hockey, basketball, soccer. I was raised by a sports-loving family, but I was also raised by a family that values being smart and safe with money. With all of the huge contracts in professional sports, some athletes still end up being broke after retirement. We see professional sports players as lucky to being making a ton of money just by playing sports, but there are so many factors that can potentially set them up for failure.

SOURCE: http://www.sportsnetworker.com

The overall question I plan on answering by the end of the project:

 Why are some professional athletes prosperous while others end up broke?

Sub questions I will need to answer in order to answer the overall question:

1. What is the average salary of a professional athlete compared to the average salary of a normal working-class citizen?
2. Would giving lower contract values give athletes a better chance of saving money?
3. How does the lack of college education affect economic decisions? If athletes committed more to college would they not be as successful in the sports world due to entering the playing field late?
4. Are contracts set up to have the athletes fail by including constrictions for injuries, poor performance, etc.?
5. Are business startups the right way to go after an athlete retires?
6. How do sponsorships affects an athlete's’ income?
7. If an athlete wants to make a decent living by playing sports, how long should he/she play for?

 

 My plan of research (what specific Library Databases, specific websites, names of authors, people, etc. will I pursue to find the answers to the questions above):

ProQuest will certainly have helpful articles on the topic. Many popular newspapers/magazines (New York Times, Forbes, Washington Post, Time) in the United States will have information on athletes contracts, earnings, and possibly their life after playing. ESPN will most likely have articles regarding the financial situations of professional athletes.