CP3 hopes to help peers manage finances
Oklahoma City Thunder guard Chris Paul will likely be a first-ballot Hall of Famer whenever he retires.
His success has earned him lucrative paychecks, and the nine-time All-Star has managed his finances wisely. Now he hopes to guide others to do the same.
"I think the reason why I’m so passionate about this is because I’m finishing up my 14th year in the NBA, and I’ve been around long enough to realize that guys in our league, we talk about everything in the locker room except for finance, except for money," Paul told The Athletic's Clevis Murray. "Nobody talks about money, because it’s one of those uncomfortable things."
Paul has seen many of his peers recklessly spend their hard-earned dollars because they don't know any better. He's already spoken with NBA commissioner Adam Silver about different ways to help players handle their finances.
As the president of the NBA Players Association, Paul wants to establish a conversation between each team's governors and its players. When he was a member of the Los Angeles Clippers, Paul convinced owner Steve Ballmer to speak with the team about how he oversees his own finances.
The former Rookie of the Year found it beneficial for his teammates to hear from Ballmer, who is also wealthy and can relate to the amount of money players in the Association commonly encounter.
"No offense to the people who normally come talk to us, but sometimes if those people haven’t had those funds or know what it’s like, then guys aren’t as engaged," Paul said. "I’ll tell you one thing when Ballmer sat down there, everyone was all ears. My hope is that’s something we can keep implementing in our league and just try to continue that dialogue.
"I think guys would definitely listen to the owners and CEOs of their teams who’ve dealt with that type of money."