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Month: June 2018

Protecting the Sports Professional from financial advisor improprieties and fraud

Protecting the Sports Professional from financial advisor improprieties and fraud

It is fair to say that money draws criminals like honey draws flies!  And, in professional sports, there is a lot of money flowing around, which makes it extremely attractive and lucrative for potential financial fraudsters.  Professional athletes have traditionally been targeted by fraudsters and a sizeable percentage of them end up as victims of investment fraud or financial scams.  The global sports business and professional players’ salaries are increasing in value, year by year, and so do financial fraudsters. …

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A good legal advisor can help athletes maximize their value

A good legal advisor can help athletes maximize their value

A professional athlete’s career is unlike any other profession we know of.  While most of us just see the highlights of our favorite superstars on television, we tend to turn a blind-eye to what goes on behind the scenes.  Most athletes have spent the majority of their formative years training towards reaching the uncertain pinnacle of a professional career—often times and by necessity, at the exclusion of developing other skill-sets more adaptive to the mainstream employment market.  Yet, an overwhelming…

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Your international career demands advisors with international exposure

Your international career demands advisors with international exposure

Having an agent or an advisor, is one of the most important factors in an athlete’s career. An agent is the person that will guide and help you make the right decisions. In a previous article ‘Choosing your agent and his obligations to you’, we briefly analyzed how the right person can lift your career and support you through every aspect of your life, besides the playing part. Nothing is granted in life and especially for athletes, things change all…

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How the Money Smart Athlete chooses a business mentor

How the Money Smart Athlete chooses a business mentor

Mentoring is not a new concept; it has it’s roots in ancient Greece. And throughout the millennia, mentoring – providing guidance and counsel to a younger individual – has occurred spontaneously in the form of informal relationships at school, at work or within the family. Successful people around the world, whether athletes, entrepreneurs or artists have had mentors who helped them spread their wings and unleash their potential. At any point of your career, mentors can prove vital. They can…

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Choosing your agent and his obligations to you

Choosing your agent and his obligations to you

One of the most important decisions an athlete has to take, is the choice of their agent; especially for young athletes making their steps into the fascinating, but at the same time unknown world of sports. Choosing the right agent, the person who will guide and mentor the athlete, can be proven to be a really important decision. In a short career that lasts no more than 20 years, every decision counts, and thus any decision the athlete takes is…

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June 2018 Editorial: The Money Smart Athlete’s Winning Team of Advisors

June 2018 Editorial: The Money Smart Athlete’s Winning Team of Advisors

1 June, 2018 There are important lessons to be learned from a plethora of athletes who have financially failed.  A common denominator often, is the trust athletes have placed in the wrong professionals.  We have all heard of a number of cases all over the world, where lawyers, accountants, investment advisors, agents, etc have defrauded athletes by advising them to invest in various potentially “high and fast profit” schemes.  In a lot of cases, athletes not only lost the money…

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