Glow:
Select the player cutout layer and right click on it. Select "Blending options". Now use either "Outer glow" or "drop shadow" (or, if you like, both).
Fiddle with the colour, opacity and spread until you're happy.
Boarder:
Save previous layers for a new Jpeg. Open the jpg in Photoshop then duplicate the layer, right click on layer 2, "blending options".
Select "stroke", set your colour, select "inside" and set to 1 px thick.
Voilla.
I'd suggest some sort of text and also offsetting the PSD slightly however, up the middle always looks uber ****.