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.
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.
Family is said to be the backbone for any successful young adult. The support, love, care and guidance given to children...
Time and again we have pointed out the challenges posed by following a career in sport, the biggest one being uncertainty as to the longevity of an athlete’s career.
At a meeting that took place within the last days of April 2020, the Board of Governors of NCAA supported rule changes to allow student-athletes to receive compensation for third-party endorsements both related to and separate from athletics.
Anyone who has had involvement and experience in collegiate sports will attest to the fact that every single college athlete has his/her sights set on a sports pro career the minute they sign a National Letter of Intent.
Students entering tertiary education, including student-athletes, don’t usually have any previous experience in financial management, so when they are suddenly exposed to situations where they have to handle multiple income streams and prioritize payments, the task seems daunting.
The future of young student-athletes, as exciting as it may seem, hides a lot of challenges. The financial vulnerability of young people, especially athletes, is a real problem nowadays.
Athlete welfare involves creating a safe environment for athletes while competing and training for their sport, as well as ensuring their safety and well-being away from the game.
Throughout the years, athletes across all range of sports have been idolized by their fans, their organizations or sometimes the entire world, for being able to distinguish themselves in what they do.
State social welfare systems were introduced early in the 20th century as a measure for protecting the health and well-being of citizens and families facing social challenges by providing them with essentials like health care, food stamps, or unemployment benefits.
Athlete welfare refers to the creation of a safe environment for athletes, both in their athletic and personal lives.
The COVID-19 pandemic. Unprecedented, unexpected and presenting unique challenges, obstacles, and vicissitudes that no one has ever faced before and – as is evident from looking at contracts of every kind across all industries – clearly few had the good sense to anticipate.
I saw a very cool picture, about a week ago, on my social media feed from soccer star Neymar, playing beach soccer with his friends on a private location by the sea in Brazil, telling the world how much fun it is to be back home and how his time is being usefully utilized during his social distancing, due to the pandemic of COVID-19.
The Coronavirus pandemic beyond being a threat against human lives, it is considered the biggest disaster to hit the sports world in many decades; it is not only causing the suspension of already running competitions such as the NBA and the majority of Europe’s soccer leagues but also causing future competitions to be postponed such as the Tokyo 2020 Olympic Games, Euro 2020 championships and Copa América.
In the summer leading to the start of the 1997-98 NBA season, the Bulls front office had taken a decision to rebuild the team, after having won two consecutive titles.
It is no secret that we’re currently experiencing one of the most turbulent and volatile periods in the history of financial markets.
At every hard stroke of fate, like the 9-11 attack or the 2008 financial crisis, sport competition (college and professional) has served as our depressurizing outlet and our turn-to pillar of support; unfortunately, not this time.
The coronavirus pandemic has swept the whole world, sport included. We are all in a state of shock, unable to really comprehend what is going on, unable to do much but try to keep safe within the boundaries of our homes and just wait for the storm to go away.
Am I too old to continue playing? When should I retire? These are some of the main questions that all athletes ask themselves at a certain stage of their careers.
