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Justin Gatlin has advised young athletes on why it is important they are not extravagant way too early in their careers given the unpredictable nature of track and field.
American sprinting legend Justin Gatlin has issued a strong caution to upcoming track and field athletes, urging them to avoid the financial trap of acquiring luxury possessions early in their careers.
Speaking on a recent episode on his Ready Set Go podcast, the former Olympic and World Champion emphasized the importance of financial prudence and preparing for the unpredictable nature of a professional sports career.
Gatlin reflected on the pressures athletes face to perform, often tied to their financial aspirations. He pointed out the mindset that some athletes adopt, focusing on earnings rather than the risks of underperformance.
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16:59 - 06.12.2024
'The sport will move on without you'- American sprint legend Justin Gatlin cautions athletes against impulsive use of wealth in an unforgiving sport
Justin Gatlin has urged athletes to have caution in dealing with their wealth due to the unpredictable and unforgiving nature of track and field
“You always feel like you are going to get on the track thinking about what you are going to make, not the fact of what you might potentially lose in that situation,” Gatlin said.
He shared a common scenario where athletes underperform despite the high stakes: “It’s crazy because a lot of people think, ‘man, lights are about to be cut off, I need to make sure I get this race and get top five,’ but they come across sixth.”
Gatlin highlighted the misleading consistency of track and field earnings, likening it to a “scamming business” due to its unpredictable nature.
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“You get $20k in Germany, $50k over in Japan, $35k in the Middle East, and it looks consistent how it comes in,” he explained. However, he cautioned that this financial flow can quickly evaporate if not managed wisely.
Using the example of buying property prematurely, Gatlin elaborated on the long-term risks of such decisions, including the risk of failing to pay up their coaches if the financial wells run dry.
“It is like buying a house early. Usually, there is no agreement between athlete and coach, and the next thing you know, you thought it was paradise, and then there is trouble in paradise,” he said.
He painted a grim picture of athletes stuck with mortgages on properties they no longer use, compounded by the stress of maintaining income while avoiding injury.
“Next thing you know, you are here this year, and next year you are gone and stuck in a mortgage in a place you are not even living. Now you are renting and paying it while being stressed about how much money you will make, hoping not to get an injury, and it all comes tumbling down,” Gatlin added.
Gatlin urged younger athletes to delay major financial commitments until they are firmly established in their careers.
“Think twice about buying early. Get your career set up, established, and open up your bank account and be like, look at those commas and zeros, because that house is always going to be there,” he advised.
The sprinter’s candid reflections underscore the need for long-term financial planning in a career as volatile as professional sports. Gatlin's words serve as a timely reminder that success on the track should be matched by wisdom off it, ensuring athletes can sustain their achievements well beyond their competitive years.
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