On Wednesday, the NFLPA and Jackson Financial Management announced the signing of a memorandum of understanding to provide financial support for the former Houston Texans running back’s Hoa financial leadership academy, which will be run by Hoa’s former executive director and former NFL Hall of Famer Kevin Johnson.
According to the agreement, the new agreement “provides financial support to support the training of future Hoa employees and students” and will “provide for a future Hoas facility, facility and training facilities” in Houston, Texas.
The agreement also provides “training and academic support for employees and their families.”
The agreement also states that Johnson will be a member of the board of directors for the new academy.
The league will provide “a minimum of $100,000 per year” in salary for Johnson and his family.
The signing comes a few weeks after Johnson signed on to help create a new organization called the Hoa Finance and Leadership Academy.
The new academy is expected to start training members next month and will also include former NFL star and Hoa finance chief Tony Dorsett.
According the NFL, Hoa has a $3 billion operating budget and employs 1,500 people across the globe.
The academy is aimed at creating “a team of financial experts that will help players, teams and fans achieve their financial goals.”
While the signing is exciting, Johnson will have to be careful with the money.
The NBA player is not eligible for the NFL’s salary cap until 2019 and the league does not pay players the full $12 million he earned last season.
That means Johnson will not receive a significant chunk of the $9.5 million he made in 2018 and the $3 million he is scheduled to receive this year.
According Johnson, the academy will give him “the opportunity to become a financial expert in the industry.”
He said Hoa “has a great tradition in the NFL and we want to keep it that way.”
The signing of Johnson’s agreement came a few days after the league and Hoas parent company, Jackson, announced that Johnson has agreed to become the director of the new Hoa program, which the league says is intended to be a “high-performing, financially focused and financially sustainable academy.”
The announcement comes after Johnson announced last year that he had signed on as a director of a new sports-finance and consulting firm called Hoa Sports Management.
Hoa will have a $100 million operating budget for 2018, and Johnson has been named the company’s executive director.
The NFLPA released a statement on Wednesday congratulating Johnson for his “extraordinary commitment” to the academy.
“It’s a big day for Jackson and Hoah Finance and the NFL when Kevin Johnson will become Hoas financial director and director of HoaSportsManagement, the next generation of Hoas sports and finance leaders,” the statement read.
“Kevin is an extremely well-respected financial expert who has a great track record of leading Hoas businesses and organizations.”
According to Johnson, he plans to continue working for the league, as well as Hoa, and “help create a thriving Hoas family of financial professionals.”