Introducing Player B, Player B is an established championship player, at the age of 24. He has been playing for his boyhood London club for the past 4 years, on a contract set to run out in 18 months. Player B enjoys a lavish lifestyle, leasing a 2021 McLaren, and renting a luxury apartment in west London. He has a car for his wife, which is also leased, and pays his parents mortgage. He pays his brother's mortgage, who also doubles up as his agent, leasing a flat that is close by for him.

Player B likes to spend his money on nice clothes, designer trainers, and eating out, not to mention plenty of holidays. His friend asked him to invest in his high street restaurant, which closed down after six months of opening.

His brother, agent, takes a monthly fee, as well as a percentage of image rights when paid out. His brother is in charge of negotiations in the players sponsorship deals, which player B is planning to use to buy a Bentley in 18 months time.

Player B has been advised to not keep your money in your bank as it is no use there because you cannot take it with you. Subsequently, Player B is left with very few investments, as well as not many savings, furthermore numerous credit cards for him and his wife.

At 32, Player B retires from his boyhood club as a club legend. His club and his agent depart, leaving him with 0 income, but the same expenses he had whilst he was on his salary. Player B has retired with no income and not much direction when it comes to securing money the way football did. In the end, Player B is forced to participate in a number of endorsements, sponsorships and other deals that have subsequently damaged his image. However, this is what Player B has to do in order to live comfortably and keep up with his bills.

This sounds like an extreme case, however the harsh reality is that this is the future for 84% of non-premiership sport stars. Is there any other way?

Introducing player A.

A young 18 year old academy prospect hoping for a professional contract at his current club in the English football league 1. Player A is currently living with his parents, meaning his expenses do not add up to a great deal. He trains every day and lives on £1,000 a week. Player A and his parents speak to a representative from Lawton Benjamin.

The representatives gave advice, which is completely up to the player whether he wishes to act on it or not… following the meeting, Player A decides he wants to protect his image rights, name, picture, logo, all under a limited company before he signs with an agent. This means during and after his career, the player himself will earn the full amount of income from these sources. This stops the agent from taking a fee from any endorsements before or after their career, as a result of the planning Lawton Benjamin have put in place.

Lawton Benjamin, using bespoke and tailored financial planning, can ensure that at the current wage the player can invest 20% of their weekly salary into money making assets. this means upon retirement player A is making £5,000 per month, meaning they have income for mortgages, cars and other investments and do not have to move away, or take lucrative contracts in other countries and be away from their families.

This sounds incredible, however the stark reality is one in three players who have played outside the premiership report financial issues or bankruptcy within 18 months of retirement. How can you make sure you are set for retirement? Feel free to drop us a message for free advice.

Fail to prepare, prepare to fail