| Trust Funds in Football 11:08 - Aug 24 with 2570 views | Tycoch_Tyrant |
http://www.bbc.co.uk/sport/0/football/23821613
Having read yet another article (above) about current and previous footballers ending up as drug addicts/gambling addicts/alcoholics /homeless etc etc. and it got me thinking about how footballers today more than ever, are being given far too high a wage too young in their life to be able to resist the excesses that come with fame and fortune. Whilst I don't see the wage structures changing any time soon to more normal levels, is it time for the PFA to begin to look into more sustainable wages that will encourage players to see towards the long term, rather than blow their fortune to bits before they are 40?
A couple of ideas I had was to portion a proportion of the wage into trust funds, releasable once the player reaches a certain age or life stage i.e. money needed to buy a home; or a portion being required to be invested, rather than x grand a week sitting in the bank account asking to be spent. Should the PFA be offering earnings advice? Of course if someone said to me "here's your wage, but you can only have half of it" I would say that i earned it, it's my choice what to do with it... but considering the number of "damaged" ex-footballers lurking around these days, isn't it time for the PFA to consider doing something? [Post edited 24 Aug 2013 11:08]
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| Trust Funds in Football on 11:25 - Aug 24 with 2540 views | Dr_Winston |
Down to the players to be grown up enough to manage their own money. They're not children. |  |
| Pain or damage don't end the world. Or despair, or f*cking beatings. The world ends when you're dead. Until then, you got more punishment in store. Stand it like a man... and give some back. |
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| Trust Funds in Football on 11:27 - Aug 24 with 2538 views | Shaky |
Let's say you put half players' wages in a trust fund invested in blue chip shares, then after a few years the stock market collapses by 90% and stays at that level for 20 years (has happened a few times in the past 250years).
You would then destroy all players' savings, even those who might have invested much more safely, say by putting their money in the bank.
There is plenty of real suffering around, of which only a tiny, tiny portion is related to formerly lavishly paid footballers. Deal with that first, before delving into the dubious pursuit of making all professional football players happy, |  |
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| Trust Funds in Football on 11:30 - Aug 24 with 2532 views | Darran |
| Trust Funds in Football on 11:27 - Aug 24 by Shaky |
Let's say you put half players' wages in a trust fund invested in blue chip shares, then after a few years the stock market collapses by 90% and stays at that level for 20 years (has happened a few times in the past 250years).
You would then destroy all players' savings, even those who might have invested much more safely, say by putting their money in the bank.
There is plenty of real suffering around, of which only a tiny, tiny portion is related to formerly lavishly paid footballers. Deal with that first, before delving into the dubious pursuit of making all professional football players happy, |
I can't believe i'm saying this to you but absolutely spot on.  |  |
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| Trust Funds in Football on 11:45 - Aug 24 with 2520 views | Catullus |
| Trust Funds in Football on 11:30 - Aug 24 by Darran |
I can't believe i'm saying this to you but absolutely spot on. |
Players should get sound, impartial financial advice. Then it's up to them. They get a pension. It's no one else's job to mollycoddle them. They are already over paid, over hyped and cosseted as it is. | |
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