The article reveals the key causes of players’ financial collapses and stunning statistics are given:
“At the height of their careers, they earned millions, and after the end of the game remained with debts. Dean Windass, the former striker Halla and Midlsbro, was forced to declare himself bankrupt through tax debt at £ 164,000 – a consequence of a failed investment in movie business and expensive divorce. And he is no exception.
Ex-players of the England national team David James, Ves Brown, Lee Hendri, Emil Heski, Sean Wright-Philips and Trevor Sincler also got into the field of view of the tax. And Jermein Pennant, Chris Satton, Asama Gian, Ronaldinho and Maradona are just part of a large list of stars whose luxurious lifestyle ended with financial collapse.
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The reasons are typical: risky investments, financial illiteracy, divorce, dependence and lack of long -term planning. According to the former-goalkeeper of the Curtis Anderson youth team, the players receive a minimum of financial education, and clubs are practically not preparing them for life after their careers.
Financial Advisor Sufyan Daafi and Ambassador Sport Legacy Ryan Babel emphasize that the main thing is balance and responsibility. The problem is not the purchase of Bentley or Maldives, but that there is no plan “what’s next?”.
According to the XPRO charity, up to 60% of players will be bankrupt within five years after their career. Although there are no official statistics, the scale of the problem is obvious.
“You are not obliged to know everything,” Anderson summarizes. – But you have to understand that something needs to be done, “the material is coming to an end.
Source: Sport.ua