Former Manchester United soccer player Louis Saha is a reluctant talker, but that does not mean he is introverted. He talks when he has something important to say and he has a lot to say about athletes becoming more entrepreneurial, especially when it comes to media and entertainment.
In fact, Saha’s been regularly urging fellow soccer players to secure their financial futures since he hung up his own boots in 2013. The rags to riches stories that define many players’ entry to elite sport can all too frequently play out in reverse when they leave it. As recently as 2018, an investigation by Four Four Two magazine estimated that 40% of professional soccer players encounter financial problems during their careers or in retirement.
“I actually think it’s easier now than ever for athletes and celebrities to secure their financial security for the long-term,” said Simon Oliveira, md of talent and creative IP sports business Kin Partners. Top-level performers have never had so much wealth or so many investment options. That said, we live in a world where agents, financial advisors and businessmen target young and impressionable talent with significant riches, so seeking the right guidance is key.
Saha’s own experiences bear this out. As a player, Saha found out that his own agent had agreed to a six-figure commission to be paid to someone associated with a club he was about to sign for. He struggled to understand why he had to pay an eye-bulging sum to an…