Dwyane Wade To Lead JPMorgan Chase Athlete Council To Tackle Financial Instability Among Pro Athletes

The JPMorgan Chase Athlete Council will focus on providing athletes with the financial strategies needed to preserve their wealth beyond the game.

NBA Hall of Famer Dwyane Wade is teaming up with JP Morgan Chase to help combat financial instability among professional athletes.

The bank announced the JPMorgan Chase Athlete Council, led by Wade and featuring a cohort of veteran athletes, including A’Ja Wilson, Kayvon Thibodeaux, and Jalen Brunson.

The group will regularly meet with JPMorgan Chase executives to discuss their financial needs and develop programs that help them. The move reflects growing competition among banks and wealth managers to serve athletes who often transition into entrepreneurship, investing, and media roles.

A study shows that nearly 65 percent of athletes report receiving no financial education during their careers. According to the National Bureau of Economic Research, approximately 16 percent of NFL players declare bankruptcy within 12 years of retiring.

“Athletes face unique challenges and opportunities. Having the right educational resources and guidance is critical to making smart decisions about money as your career evolves,” said Wade in a press release. “I’m excited to join the JPMorganChase Athlete Council and to serve as chair of this incredible group of athletes. The Council gives us the opportunity to share our experience and insights to help athletes build their financial knowledge and plan beyond their playing careers.”

Wilson, the WNBA superstar, highlighted the importance of teaching money-management skills to the next generation to break cycles of financial instability in sports.

“We’re starting to try to turn the page and help the youth in the next generation understand that you have to build trust, you have to build boundaries, and know exactly how you want to operate with your money,” Wilson told CNBC.

After his 16-year NBA career, Wade has worked on developing a diverse business portfolio that includes Wade Cellars, his wine partnership featuring a Napa Valley Cabernet Sauvignon and the Three by Wade collection of red, rosé, and Chenin Blanc wines. His Way of Wade basketball and lifestyle brand is available online and at 11 retail stores across China.

In 2020, Wade helped launch Budweiser Zero, the company’s first zero-alcohol beer. In 2021, he partnered with former Miami Heat teammate Udonis Haslem to launch D. Wade Burgers and UD Wings through Combo Kitchen’s ghost-kitchen platform. Through his production company, 59th & Prairie Entertainment, Wade also served as an executive producer of the Sports Emmy-nominated documentary Shot in the Dark.

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