Joe Cribbs, founding member of PSBN may be best known as an All-American running back at Auburn University, SEC Athlete of the Year, AFC Rookie of the Year and a three time All-Pro in the National Football League.
Prior to completing a ten year professional football career, Cribbs realized that being a professional athlete wasn’t all he imagined. It didn’t guarantee him anything. It certainly didn’t guarantee him financial success after his playing career.
Nearing the end of his career, Cribbs recognized there was a problem with the current system of professional sport representation and it was up to him to grab control and start preparing for life after his pro career. By turning away from what was considered typical and traditional for professional athletes, wasteful spending, he began creating safe investments and savings programs that allowed him to exit the game better off than most.
Since his retirement he has continued his success in private business while staying involved with sports and helping young athletes.
He started Joe Cribbs and Associates in late 90s to work with young professional athletes and try to prepare them for life and a career after their sport. Cribbs has been an advocate for bringing about change in many ways regarding how you plan for professional athletes. Cribbs was one of the first to realize that the creative use of insurance can be a safe vehicle for supporting retirement plans for professional athletes. So successful was Cribbs’ team that many insurance companies began developing specialized products and new regulations to address the unique needs of professional athletes.
Cribbs has continued to be an advocate for professional athletes through his attempt to work with two developmental leagues to create additional jobs and opportunities for those athletes that need a little more time to get ready for the NFL.
While those attempts were unsuccessful, Cribbs is undeterred in his quest to help athletes achieve their dreams, both on and off the field. With everything that’s has happened in professional sports over the last 35 years, still today most athletes place much of the responsibility for their careers and financial future in the hands of their agents; most agents do not have the overall expertise, the financial incentive, nor the ability to support these athletes past their playing days. Research shows almost 80% of NFL players find themselves in financial trouble after they leave the game. Why? The relationship with their most trusted adviser ends. However, if there was a way for that athlete to have quality professionals in his life during, after and beyond his professional career, the chance of success is greatly increased.