By Jeff Caplan / Business Insider, Star-Telegram
Making a cushy, six-figure salary in his prime NBA playing days in the mid-1980s, Otis Birdsong had seemingly everyone under the sun offering him some type of business venture.
"You get inundated with requests to invest in this, that and the other," said Birdsong, now in his sixth year as director of events and promotions for Personalities and Promotions International, a company co-founded by Roger Staubach that specializes in the marketing of athletes and celebrities.
Imagine the number of "can't-miss" business offers lobbed at today's athletes, who rake in millions of dollars annually.
"Deals come at you left and right," said San Diego Chargers cornerback Ryan McNeil, who played for the Cowboys in 2000. "You've got to be careful and wise enough to know which ones you want to participate in. There were a lot of deals that were bad deals that I didn't participate in. There were a lot of great deals that I participated in."
McNeil, 31, graduated with a psychology degree from Miami and has done pretty well for himself. He's part owner of a technology company in Detroit, and he owns a real estate company in Florida. Those and several other ventures fall under the umbrella of McNeil Management. McNeil is one of those rare athletes who paused for a moment and realized one day his playing days would be over.
As a young professional athlete, he saw beyond the million-dollar paychecks and the lifestyle of the pro athlete and envisioned what could come next. He wanted to make sure that when his playing days are over, his business life will take over.
His desire is to share his vision with other professional athletes and help them plan for a life after the bright lights go dark. More than two years ago, McNeil began crystallizing his concept for what is called the Professional Business & Financial Network (www.pbfn.org). Soon to be a not-for-profit, the organization is exclusively for professional athletes. Its mission is to provide current and former pro athletes with networking and business skills, and to share insight into how to maintain their financial security when the paychecks stop.
The organization's inaugural convention begins Sunday in Dallas at the Hyatt Regency. It might be the only business convention the Hyatt has ever hosted that will attract autograph seekers.
More than 75 former and current pro athletes, mostly from the NFL, are expected to attend the three-day conference, which includes a couple of NFL Hall of Famers as keynote speakers. Former Steelers great Franco Harris, a successful businessman in Pittsburgh, opens things Sunday. On Tuesday, Staubach will close the conference.
"Roger was the first one I contacted, and he was the first one to say yes. He didn't have a lot of information about PFBN, but he liked the concept," McNeil said. "He knows there are resources that are needed for guys to be able to utilize. He's one of the most successful businesspersons that's ever played professional sports. That was a coup for us."
It's easy to cynically snicker at a bunch of millionaires getting together to share secrets about how to make more millions, but that's a very narrow focus. Birdsong says it's about preparing for the end of the fairy-tale world of pro sports and moving into a completely foreign reality.
"Imagine if you retire at age 35 and you want to try and continue the same lifestyle for 35 more years. I think you better be bringing in some more income or have invested in some great investments," Birdsong said. "If you spend $2 million or $3 million a year for 35 years, and also you're having children, a family, it sounds like a lot of money, but if you're going to try to keep your same lifestyle, which most people want, you have to really manage and take care of your money."
Birdsong, one of about 100 PBFN members, said the organization's focus goes beyond making money.
"The thing that impressed me the most about Ryan is he is also concerned with image and character," Birdsong said. "So, it's not just about being a businessman and making money. People want to do business with people who have integrity."
Jeff Caplan writes about sports business every Sunday.
Jeff Caplan, (817) 390-7760 jcaplan@star-telegram.com