“I feel like it’s almost a duty for me to be able to do this,” Davis said. “If I can help you get better or avoid something I had gone through, and I have the resources to do it, then I believe I should share those.”
Davis said he sympathized with high-profile athletes who are making significant money, specifically football players, and are overwhelmed with their newfound wealth.
“I think the biggest thing is, is helping them to avoid the pitfalls that we all see, the temptations, the things that seem to trap a lot of us,” he said.
But Davis is particularly impressed by stars such as Colorado CB/WR Travis Hunter, who recently signed a lucrative NIL deal with Nerd Wallet in which he invested 20 percent of his earnings. Davis wished he could’ve been advised to save for the future while in college and the NFL.
“We used to talk about that in the league, that the NFL should make players invest money,” he said.
Davis said he understands it must be the athlete’s choice to do so, but empowering them with knowledge will be a gentle nudge in the right direction.
The former running back acknowledged the college football landscape is ever evolving but appreciates that rules and regulations are being discussed to protect athletes from being taken advantage of.
“I do love the fact that that we’re putting guardrails on these student-athletes and helping them out,” Davis said. “This is not about what happens today or tomorrow, this is a long-term effect on them leaving college as they transition into their lives.”
The NCAA is in the process of revising a federal antitrust settlement that would allow schools to directly pay athletes. However, that has opened floodgates to lawsuits from former players seeking alleged lost compensation.
“It’s hard to navigate right now,” Davis said of the current NIL climate.
However, the Hall of Famer is optimistic financial education initiatives such as his will be just the start of a larger solution.
All quotes obtained firsthand unless otherwise noted.
