[Originally aired 04.30.15] The NFL Draft is tonight and that means dozens of young men will become instant millionaires once their names are called, but many of them are already thousands and possibly millions in debt.

Roland Martin, host of NewsOne Now said, “When you see them walking across that stage dripping in diamonds, they’re already going to be driving Range Rovers and Benzs and they haven’t even signed a contract yet,” these “new money” millionaires will have already started their lucrative pro sports careers owing somebody a lot of money.

Former NFL player Phillip Buchanon knows all too well the story of “new money.” After being drafted to play in the NFL, Buchanan says his mother demanded $1 million for raising him.

Buchanon joined Martin Thursday on NewsOne Now to discuss his book, New Money: Staying Rich, and the financial burdens professional athletes face.