How SA footballers can avoid financial struggles and keep scoring after retirement

Brand specialist and Unorthodox Group CEO Sibabalwe Sesmani says South African footballers should educate themselves financially and make the most of working with brands while at their peak to prevent financial struggles in retirement.

The financial problems of soccer players after hanging up their boots is a recurring issue. The average football player’s career typically lasts to the age of 35. 

Many run out of money towards the end of their careers or soon after because of their spending habits when they had a consistent income. The opposite can be true for cricket and rugby players.

Sesmani, whose Johannesburg company deals with talent management, media relations, financial planning and brand management, says the upbringing of soccer players plays a big role.

The majority of football players come from rural areas and township communities where financial assistance is rare, as opposed to cricket and rugby players who are often from middle- and high-income communities. They are exposed to conversations about financial planning earlier in their careers and become aware of opportunities and make the most of them.

The number of cricket and rugby players used in TV advertisements and billboards is higher because of their understanding of working with brands. Football leadership figures point out that companies in South Africa at a boardroom level are not sufficiently aware of the huge pulling power of soccer — easily the country's biggest sport — and often invest sponsorships into cricket and rugby out of personal preference.

The PSL has collaborated with MultiChoice to empower football players to thrive beyond their playing careers. The Player Transition Programme saw several players graduate with qualifications from the Gordon Institute of Business Science (Gibs) in Randburg.

The programme has not reached the high numbers the institute would like, as only a few players volunteer to be part of it.

“It is important to look at the background. In certain sporting codes, the athletes get advice about financial literacy from people close to them,” Mdantsane-born Sesmani said.

“Most cricket players, for example, went to prominent schools, whereas in soccer most players come from townships. There is no form of financial literacy.

“Because they did not learn or were not taught to be financially literate, they end up squandering their salaries because there is no-one about to advise them. And they don’t take the initiative to get educated about being financially literate.

“You get rugby players talking about investments and preparing for the future. It’s time soccer players have those conversations.

“Yes, it’s partly the fault of not being aware of financial markets, but they must take the initiative and go out there and learn, because help is out there.”

Unorthodox Group has Mamelodi Sundowns and Bafana Bafana midfielder Teboho Mokoena as one of its clients. It has already made strides in helping the Afcon bronze-medallist start his journey of financial security after his playing days are over by ensuring he works with as many brands as he can.

It also has PSL referee Akhona Makalima and Rugby World Cup champions Makazole Mapimpi, Jaden Hendrikse and Lukhanyo Am, who often appear in advertisements, as clients.

Among players who took part in this year's PSL course at Gibs were former Bafana Bafana captain Thulani Hlatshwayo, Relebohile Mofokeng, Ramahlwe Mphahlele, Kamohelo Mokotjo, Daniel Akpeyi, Reyaad Pieterse, Kabelo Mahlasela, Mxolisi Macuphu and Sandile Mthethwa.