As your career progresses, you’ll expect to be earning more. Higher wages usually results in more tax being paid. As the career of a professional sportsman can be short compared to other professions, we understand you’re going to want to make the most of your income.
Whether you’ve just secured your first commercial contract or are a more seasoned player, our experience shows that there a number of key financial issues that are, more often than not, overlooked. The consequence of which can have a significant impact on a players’ financial wellbeing. It may be the case that you leave your affairs to others, thinking they have everything in hand, however this may not be the case and whilst ignorance might be bliss it can also be costly. As featured in Professional Player magazine we have set out to highlight our top 10 financial issues overlooked or mis-understood by players:
There is a well established tradition in football in the UK, which can be traced back to the mid 1990’s with the influence of overseas players coming to the UK, that clubs and players enter into Image right’s contract. This means that a player’s image can be commercially exploited by the club with fees paid falling outside of the player’s normal salary.
Streets Chartered Accountants were delighted to be amongst some of the prestigious brands supporting the launch of the Professional Player Magazine – the magazine delivered to all UK professional footballers.
Earlier this year the Government announced that it would amend the qualifying conditions for community Amateur Sports Clubs (CASCs) to make the rules clearer for them to apply, following a period of public consultation.