"That's how you build a program": Fran Brown preaches importance of financial literacy as Syracuse takes next step

Syracuse football and Community Bank have entered a partnership as part of a fundraising campaign called "Champion ‘Cuse." The initiative will assist athletes in opening bank accounts and teaching them how to manage money through financial lessons.

Orange coach Fran Brown is a big backer of the financial literacy program and is seeking to raise $6 to $8 million each year through Syracuse-focused collectives to help players.

On Tuesday, during a press conference, Brown discussed the initiative, saying that a set amount of time is dedicated to teaching players simple lessons about money management. Brown also said they teach only a few things each week so the players don’t feel overwhelmed with information while they focus on practice.

“We are trynna teach them to be able to do all the right things so they can be super successful whether they make it to the NFL or not," Brown said. "They’ll be successful in life just because they were on our football team. … I wanna ensure that we leave this way better than we found it.

“… And the players just started to come, and they educate their players. So now all those players that left, they’re always coming back, right? And that’s how you build a program and not just a football team.”

The partnership between Syracuse and Community Bank aims to support players on and off the field. As part of the name, image and likeness program, Community Bank will donate $50 to the Orange athletes for every new account opened from now till the 2025 season begins. The initiative includes financial literacy sessions for players that will be held every week.

Fran Brown on requiring Syracuse players to save NIL paychecks

Fran Brown is already putting the financial lessons to use by requiring his Syracuse players to save 40% of their NIL paychecks in a savings account.

“Financial literacy is so important now,” Brown said at the press conference. “A lot of people think you only need to learn financial literacy if you’re rich. You need to learn financial literacy to become rich.

“... Our players have to save 40% of their checks. They understand, no, I have to put 40% of my check away, so that way I can be better later. I’m your coach. There’s no way we’re going to pay you a lot of money as a good player and you’re going to walk away from here with no money.”

Brown said he did not have the chance to learn about finances when he was young and that it was “extremely tough.” So he's driven to teach the players how to do the same.