Why the St Louis Rams Won the NFL Draft (Again)

And it has nothing to do with the players they picked

Why the St. Louis Rams Won the NFL Draft (Again)

As of June 1, 89% of all the players selected in the 2015 NFL Draft had signed contracts with their new teams. But none of the St. Louis Rams picks have signed – and it’s for a fantastic reason.

A couple years ago the Rams decided that they wouldn’t sign any of their rookies, or hand them massive amounts of money, without first teaching them the basics of personal finance.

The Rams bring the entire draft class to town and go through their version of Personal Finance 101. They teach them how to handle their newfound wealth before they actually acquire it. After they’ve learned these basic lessons, they sign every player that day.

In 2013, head coach Jeff Fisher brought $1 million in cash to show the rookies what it looked like. He then removed half for taxes, and some more for the agents, and so on. Then he made sure they understood that the remaining money would be paid to the players in 17 installments (one for each week of the regular season) but would need to last all 52 weeks of the year. 

This strategy may not translate to wins on the field, but it can go a long way in improving the players’ lives. And that’s what financial planning is all about.

New England Patriots wide receiver Julian Edelman will still be my favorite player even though he’s no relation to me (at least none that he’s willing to admit to), but I’ll start rooting for the St. Louis Rams and their rookies. On and off the field.