A cash course for new Texans

Most of the guys sitting in the first five rows of the Texans meeting room Monday afternoon weren’t that far removed from being in a classroom.

A few months ago, several were still in school, finishing up classes and preparing for the NFL draft.

Now, they are rookies, preparing for camp, a shot at making the team and their first NFL season.

Their days consist of working out, learning plays and acclimating to life at the pro level.

And on some days, they find themselves back in the classroom, learning lessons that can help them make the most of their current situations.

The PowerPoint presentation Monday wasn’t about defensive packages or offensive schemes.

It was about managing finances responsibly. And it’s something a lot of professional athletes could use.

Monday’s was one of about 30 life-skills sessions the Texans provide for their rookies. The NFL mandates that each team do a handful of the seminars to help rookies adjust to the league.

The Texans are one of the few teams that takes it further and does more for its players.

The topics range from

finances to domestic violence to respect in the workplace.

Senior director of player engagements Sean Washington sets up the presentations and speakers. Alex Butler, a finance professor from Rice, gave the presentation.

The players sat, attentive for the full hour, their backpacks slung across the leather chairs, paper plates of pizza and Gatorade bottles near their notebooks and iPads.

The league minimum for rookies is $465,000. Butler started off by explaining that $139,679.30 of that would go toward taxes. Paying attention

There were heavy sighs, a couple of smirks then quiet as they all paid close attention to hear Butler explain how to take care of the money they will make in their first season.

The lessons Monday were important ones. Few college students leave school and enter the workplace with a complete understanding of how to manage their money properly.

A small amount of those students will make the salary of an NFL player.

Historically, several NFL players have failed to properly manage their finances. Vince Young comes to mind, but he’s not alone. According to the National Bureau of Economic Research, 15.7 percent of former NFL players file for bankruptcy within 12 years of retiring.

For most players, retirement comes at a young age. The NFL Players Union estimates the average NFL career at just over three years.

So these guys are going into the league, making money for a short amount of time, investing and spending it poorly and winding up with little to nothing.

The Texans and Butler are trying to stop that from happening to the incoming group.

The first thing Butler told the rookies was to be smart about their first big purchase, explaining that a $100,000 vehicle wasn’t a wise investment.

He went over the pros and cons of renting and buying homes.

He talked about various types of investments — low and high risk and how to diversify.

He also explained the differences between tax attorneys and financial advisors and advised the players to hire the right people to handle their money.

Butler was engaging and entertaining, and the rookies were interested in his message. One even asked when the session was over about a good price range for his first vehicle purchase.

Important lessons

The life-skills session brought light to one of the many issues rookies have on the table.

A couple of them will make it big, maintain careers, make more money.

A few will be injured and see their careers end.

Others won’t make the cut and will end up needing to find another career path right away.

The knowledge they are picking up in the lifeskills sessions can help them no matter where they end up, and it’s a good thing the NFL and the Texans are instituting for their players.

The response Monday was good. The players were interested. Several stayed to chat with each other and Butler when it was done.

Next week, the rookies will be done in Houston until they report back for camp.

They’ll all leave with a better knowledge of the NFL, of the Texans, of the playbook.

They’ll also leave with a better understanding of how to navigate the next phase of their lives as NFL players.