Ben Gibson, a Partner and Chartered Financial Planner at wealth manager Evelyn Partners says: “The BBC’s Football’s Financial Shame: The Story of the V11 highlighted just how vulnerable elite footballers can be to financial abuse and mis-selling. The programme alleged that players – and in some cases their managers – were drawn into investment and tax avoidance schemes designed with one goal: to extract as much of their money as possible. The financial and emotional toll on those affected, and their families, has been devastating, and as they continue their fight for justice, we urge today’s players to take proactive steps to protect themselves.
“Worryingly, the current generation of young Premier League footballers remain at risk. The lure of high returns from unregulated and illiquid investments can be strong. But football careers are short, and high-risk, unregulated schemes rarely deliver the outcomes players hope for. What’s needed is a robust financial plan, tailored to an individual’s personal goals and delivered by a regulated financial adviser who understands the unique pressures of the game and the need to ensure wealth lasts long after a player has retired from elite sport.
“As someone who has worked closely with professional footballers for almost a decade, I have seen firsthand how susceptible players can be to financial abuse – particularly early in their careers when earnings spike but financial literacy levels may not match up. The combination of youth, sudden wealth, and a short career window creates a perfect storm for exploitation, whether through poor advice, coercive relationships, or risky investments that don’t serve the player’s long-term interests.
“Financial abuse in football isn’t always obvious. It can take the form of excessive control over a player’s finances by people close to them who they trust, or pressure to invest in schemes that benefit others more than the player. That’s why education and independent advice are critical. At Evelyn Partners, we’re committed to empowering players to take control of their financial futures and work hard to tackle financial abuse head-on by equipping players with the tools and confidence to manage their money effectively and spot any red flags early. The work that we do focusses on long term planning to support their post career expenditure requirements, in a straightforward but personalised fashion.
“Ultimately, protecting players from financial abuse requires a cultural shift in football – one that prioritises transparency, education and long-term wellbeing over short-term gain. Choosing a regulated, trusted financial advisor that can help a player build and sustain their wealth over the long-term must become the norm, not the exception. We’re proud to be part of that change.”
|
