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Creating a legacy.


The average under-23 player in the Premier League earns 2.13 million British pounds per year in basic pay, while 23-29 and 30-plus year-old players earn an average of 3.52 and 3.17 million British pounds respectively (source statista). The salary levels at the very top can be huge with Ronaldo Cristiano Ronaldo earning an estimated £26,520,000 pa. By 2020, the amount spent on Premier League wages had doubled, rising to a staggering £2.8 billion spent on total wages with the average annual salary in the Premier League a mouth-watering £3.79 million p/annum.


That said, NFL league-wide revenue dwarfed soccer at almost 15.26 billion U.S. dollars in 2019. Player salaries for that season amounted to more than seven billion U.S. dollars. On average, each team spent around 220 million U.S. dollars on player salaries.


Huge salaries and financially inexperienced players lead to misguided and, at times criminal, advice. Sports professionals are unlike any other client. “The most pertinent thing you can say about managing them is that they can’t afford to make bad decisions because their careers are so short,” Andrews said.


In a winner takes all mentality that is now dominating more than just sports, football trainees may start on £50 to £100 a week. The first pro-contract may net them £2,000 a week up to £20,000 to £25,000 a week, depending on the club, and this is where “that real jump in income needs positive intervention.”


In other sports, cricket has brought many more HNW clients into wealth management since the advent of the IPL made year-round revenue possible for top players. The invention of T20 has changed cricket, with the limited overs format of the game. For golf and tennis, wealth tends to concentrate at the very top end. There is a triangle of the top 5 per cent earning most of the income.


The priority is to educate the players and their family to help them assess and make good decisions. Next is to review their situation, what they have, any aspirations and advise what they need to do, lastly is to connect them with a mentor who has been in a similar circumstance.

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