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Money Smart Athlete Blog

The aim of the Money Smart Athlete Blog is to provide athletes worldwide with the tools to become money smart and help them make savvy financial decisions. We created this blog to transmit and share the knowledge we have accumulated as financial and business advisors during the past two decades.

Financial Literacy

Athletes and Investment Basics

The reward for athletes who reach a top level in their sport, does not only come in the form of public recognition and a display case full of medals. Most professional athletes are privileged with earning what an average person earns in a lifetime, in just a few years. Many will squander this money away in a short time, but others will make the right decisions, including investments, that will allow them to retain their financial freedom and security after their retirement.

Economic Environment

Why Athletes need a Legal Advisor

During different stages of your sports career, you will have to interact with many professionals who will help you with your athletic, financial and business endeavours. Creating the right team of trustworthy, reputable, and established professionals within any given field is important to your success. 

Economic Environment

Athletes- Know your rights: The issue of rights in sports

We tend to think of athletes as some of the most privileged people on the planet and although that is true to a certain extent, it only reveals part of the story. When we hear the word athlete immediately to mind come people like Cristiano Ronaldo, Serena Williams and Lebron James, and we usually overlook the fact that athletes of such calibre, prestige, fame and wealth are only the tip of the iceberg.

Special Themes

The Impact of Abolishing the NCAA Amateurism criterion on Female Sports

Last June the Intercollegiate Athlete Compensation and Rights Bill was signed into Law in Florida, by the state’s Governor Rick DeSantis. Florida’s move is the latest development of a precedent set by California, but certainly not the last as numerous states have similar bills in the legislative queue. What these laws do is simple: allow college athletes to profit from the use of their name, image, and likeness. Such laws are a direct assault against the so-called NCAA amateurism criterion which prohibits athletes from doing just that.

Special Themes

The battle over athletes’ rights to profit from the use of their image – The Story, The Events and The Aftermath

College sports have been part of the American reality since the late 19th century when the Yale rowing team competed against the Harvard rowing team to what marked the beginning of an era: the era of college sports. Nearly 170 years have passed since then, but one thing remained the same, college athletes have never been able to use their image rights to benefit monetarily, up until recently.

Special Themes

Should U.S. College Athletes be Paid?

When in 2015 a handful of football players tried to unionise and were rejected by the National Labour Relations Board, Donald Remy, NCAA’s chief legal officer applauded the decision and argued that: “Student-athletes are not employees, and their participation in college sports is voluntary”.  

Editorials

November 2020 Editorial: The Commercialization of the Student Athlete Image and the NCAA Amateurism Criterion

Since its establishment under President Theodore Roosevelt, the National Collegiate Athletic Association (NCAA) has been the administrative and coordinating body of college sports. Virtually unknown to the rest of the world, the NCAA, its policies and intransigence have been a focal source of controversy regarding the image rights of student athletes in the US largely because the NCAA has been at the epicentre of every reaction against the professionalization of college sports.

Special Themes

Football and the EU Money Laundering Risk List

The European Union (EU) has for years now been designing and implementing laws and policies that aim to prevent the use of the Union’s financial markets for money laundering, a process through which illegally obtained money are put through various transactions and deals that can eventually make the money appear as they were obtained from legitimate sources.

Special Themes

How to identify Money Laundering in Sports

In a previous piece we pointed out the legacies of infamous drug lords such as Pablo Escobar and the Rodriguez brothers in the world of football.  It is not necessary, however, to send our imagination in pursuit of Netflix to the depths of South America in order to examine the relationship between criminals—money launderers to be precise— and the sport industry.

Special Themes

The Impact of Money Laundering on International Sports

Money laundering is a hot topic on the global financial and political agenda right now, and the fight against it has become increasingly important in a world where governments are struggling to keep their fiscal balances in check, and reverse the rising incidence of tax evasion, drug trafficking and consumption, and criminality in general.

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