On Tuesday, June 9, 2009, students participating in the Summer Management Program were invited to a boxed lunch seminar with professional basketball player Chris Paul, guard for the New Orleans Hornets and former point guard for Wake Forest University Demon Deacons.
Paul educated the students about the business of professional sports and how he, in particular, has managed his career. Talking with the students about family and business, Paul discussed his decision to hire his brother, C.J., as his manager. Since 2005, C.J. has been helping to coordinate everything from guest appearances, autograph sessions and ticket requests to advising him on sponsorship and endorsement deals. Paul conveyed how important it was to help educate his brother in the business so that he could build a successful career of his own.
According to the March 23, 2009 issue of Sports Illustrated, an estimated 60% of former NBA players are broke within five years of retirement. Paul talked with the students about the steps that he and his colleagues have taken to avoid this pitfall including negotiation tactics, taxes and insurance policies.
After spending just over an hour talking with students, Paul returned to his own class schedule. This is just another example of a day in the life of a Wake Forest business student.