How we want to help
Many of the factors that make an athlete financially vulnerable unfortunately cannot be altered. An athlete will always have a family, friends, and other relationships, and will always have to make decisions for himself.
The answer lies into educating athletes to make sound financial decisions by cultivating financial literacy as a life skill for athletes of all ages and levels.
Who else can help
Currently, there is lack of organized global initiative in connection with the financial education of athletes. We believe that the stakeholders of the sports industry can all contribute in establishing financial literacy as an integral part of an athlete’s training in the global sports arena.
Sports Federations can enforce regulations through which there will be mandatory adoption and implementation of financial literacy courses for all their members.
Associations and Leagues can adopt and implement regulatory frameworks with the aim of protecting athletes from financial pitfalls.
Clubs can integrate financial literacy programs as part of the CSR. Curriculums which address an athlete’s financial life cycle can be implemented from the team’s academy level to the players of the first team.
Sports Academies can incorporate financial education courses for their members in view of the fact that the age of learning is very important. Financial Literacy is imprinted much easier at an earlier age when we are particularly receptive to learning or mapping different forms of information and, good financial habits become part of the young athletes’ everyday life for the rest of their lives.
Our programs are designed to fulfill the financial education needs of athletes in different points of their career and they are divided into four categories with each category geared towards a specific age group.
The reason for the categorization is that each age group has a different set of financial needs, therefore their financial education should evolve around what they perceive to be of interest and benefit to them at the given point in time. These age groups are:
• Academy Level (ages 12 to 17)
• Young Stars (Sports professionals ages 18 to 22)
• Prime-Age athletes (Sports professionals ages 23 to 30)
Through our courses we want to make sure that athletes obtain a basic financial understanding along with the life skills which will help them:
• Realize that their career is short and that they should prepare themselves for a second career
• Learn to consult trustworthy professionals
• Be able to set a budget and follow it
• Be conservative
• Learn to say “NO” to friends and family requests for money
• Be aware that developing their brand and working on their personal marketing strategy will help them stay up-to-date and in the spotlight for much longer than how long their athletic miracles endure. Find out more at the Sports Image Rights Expert site (www.sportsimagerightsexpert.com)