Detlef Schrempf Takes Soft Shot At Players’ Association

by August 01, 2010

In this past week’s “Where Are They Now” issue of Sports Illustrated, retired NBA player Detlemf Schrempf talked about basketball players, the NBA and wealth management: “By day Schrempf is the director of business development at Coldstream Capital, a wealth-management firm in the Seattle area, where he has resided since 1980. ‘I always had an interest in other things [besides basketball] and in putting some money to work,’ he says. But, Schrempf urges young athletes, you don’t need to have a professional’s head for business to have a sense of your personal finances. ‘I always tell them to [realize that] the one contract they get might be their last,’ he says, adding that the league and the players’ association should bear more responsibility for educating its members. ‘[Players should] actually go online and see where their money is. Most of them don’t deal with it.'”