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Fred Kerley has revealed the biggest mistake most athletes make that leaves them in the pits upon retirement.
American sprinter Fred Kerley has voiced strong concerns over the financial struggles many athletes face, attributing these hardships to unclear and unfair contract terms.
Kerley, known for his outspoken nature, believes that a lack of understanding around contract details leaves athletes vulnerable, often leading to financial difficulties once their sports careers come to an end.
In a candid discussion on Justin Gatlin’s Ready Set Go podcast, Kerley emphasized the need for athletes to negotiate better terms with sponsors and companies to secure a stable future beyond the track.
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16:17 - 06.11.2024
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He underscored the importance of financial literacy, encouraging athletes to fully grasp the conditions of their agreements.
“A lot of kids do not understand what they are signing until it’s too late,” Kerley explained. “I understand every contract that is given to me. I actually understand my contract more than my agent does. I know the ins and outs of all my contracts and what I need to do on a given day.”
Kerley stressed the importance of understanding performance incentives, noting that athletes often don't realize the limitations embedded in such bonuses.
“If I go break a world record tomorrow and then break it the next day, you aren’t getting any more money,” he said. “So if someone tells me, ‘You need to go faster,’ I know there’s no more money for that.”
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05:30 - 06.11.2024
Asafa Powell commends Noah Lyles, Fred Kerley & Co for respecting his generation amid tensions with older athletes
Asafa Powell has heaped praise on modern athletes like Noah Lyles and Fred Kerley for respecting his generation of athletes, while aiming digs at older generation athletes.
Highlighting the significant role athletes play in the sports industry, Kerley argued that they should receive fairer compensation for their contributions.
“Athletes make the sport and need to be the biggest beneficiaries,” he asserted, calling for a re-evaluation of sponsorship deals that would prioritize athletes’ financial security.
He also expressed frustration with shoe companies, which he believes fail to appreciate the value athletes bring to their brands.
“I don’t think shoe companies respect us as athletes,” he noted. “We’re all greats in our own way, and every athlete can market themselves in ways these companies don’t understand. They respect themselves because either you will wear [their brand] or not, but it’s the athletes who make the brand.”
Kerley’s insights shine a light on the broader issue of financial education and fair treatment in professional sports, advocating for a shift towards contracts that truly support athletes, not only during their careers but also in the years beyond.
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