Athletes who sign multi-million-dollar contracts know how to score on NFL fields, NBA courts, MLB bases, and other venues. But they often turn into losers when it comes to navigating finances. The same pitfall happens to celebrities in the entertainment business, too. Now a new partnership aims to help change that by making financial know-how part of everyone’s playbook.

Plano-based financial advisory services firm Chapwood Investments is partnering with North Dakota-based Champion Venture Partners to develop a financial education program for athletes, celebrities, and high-earning professionals in the entertainment industry.

“Financial literacy is the springboard to security for athletes throughout their entire lives,” Chapwood Managing Partner Ed Butowsky said in a statement. “I’ve seen athletes who handle their money successfully, and those who do not. The difference has always been the knowledge they possess.”

CVP said the program will encompass all aspects of financial literacy, from fostering informed decision-making to empowering sustainable wealth-building. Content and curriculum will be delivered via comprehensive guides, videos and webinars, and interactive tools.

The partners said they also expect to introduce live events shortly after launch, allowing them to not just guide athletes but foster a community of financially-savvy individuals who are better equipped to build their future.

Chapwood Investments is a private wealth management advisory firm with 35 years of experience working with both high-net-worth individuals and businesses. Butowsky is a former Morgan Stanley vice president and regular contributor to the National Center for Policy Analysis, Fox, and Bloomberg Radio.

Empowering athletes to take control of their wealth

Over the past two decades, Butowsky has developed a professional passion for guiding athletes through investing and protecting their wealth, the firm said. In 2012, he was featured in “Broke,” the ESPN “30 for 30” documentary detailing the unique financial challenges faced by professional athletes during and after their careers.

Both CVP and Chapwood said they anticipate this program to be a game changer for athletes at all levels of their career, empowering them to take control of their wealth early with essential financial literacy training, capitalize on strategic investment opportunities, and secure a legacy that goes beyond the field.

Chapwood and CVP haven’t announced an official launch date for the program but anticipate it will begin in early 2025.

Champion Venture Partners is an asset management firm connecting those “who dare to invest differently” to high-yield alternative assets across the sports ecosystem.

David Seeley contributed to this report.

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