Luis Núñez-Villavearán

Updated Thursday, March 28, 2024-23:48

Perhaps the most famous quote from

George Best

, one of the best British footballers of all time, is: "I spent a lot of money on cars, women and alcohol. I wasted the rest." As

a leitmotif

for teenagers, it can be very funny, but when you already have gray hair or have a family behind you, it is very dangerous. "Don't die like me," was the farewell message from him lying in a hospital bed. He was 59 years old.

Best, known as the

Fifth Beatle

, was a magnificent and fleeting footballer whose quality and fortune was lost due to alcohol. Something similar to what happened to another British genius like

Paul Gascoigne

, who currently lives in the house of his representative,

Katie Davies

, after having ended up ruined by his addictions. Both, and many other players, have squandered a lot of money when they hung up their boots. How can it be?

There are no figures available for footballers who end up bankrupt after leaving the sport. The only known research is the one carried out

by

the

one of each.

"We tend to think that many elite athletes go bankrupt, but the percentage is the same as any other business."

Ignacio Chinarro

, Economic-Financial Director at the Association of Spanish Footballers (AFE), explains to EL MUNDO that, being public figures, it seems that there are more athletes who, after finishing their career, end up with financial problems.

Cafú, in his time as a footballer.

The most recent case is that of one of the best right backs in history, the legendary

Cafú

. The Brazilian has to auction his home, the second property in less than a year, due to the debts that threaten him after his representation agency went under in 2019. It is estimated that the footballer must face creditors who are demanding more than 3.5 million euros.

Cafú spent much of his career in Italy between Roma and Milan. He won two leagues and a Champions League, among other trophies, and retired at the age of 38. "The ruin of a footballer is the combination of several bad decisions," says Chinarro about a career that "generates a lot of money in a short time and then you have to try to make it last," he adds. Financial problems have come to the Brazilian at the age of 53, just 15 after he retired.

Factors

The keys to the financial problems of footballers are the age at which they generate their income, normally between 20 and 30 something, the environment that surrounds them and, after retirement, the drastic decrease in income that occurs. produces.

From the AFE union, in collaboration with Tressis, they offer training to athletes and financial advice that is used by everyone from young people who are starting out to players who have already hung up their boots. "They come to us from all ages and to obtain professionalized strategies, it is never too soon. The sooner you start, the further you will go," says

Javier Arizmendi

, former footballer for Mallorca and Deportivo de la Coruña and today a financial advisor at Tressis.

Arizmendi knows that the life of a footballer is a "bubble" during the period of activity and from which it is very difficult to get out. "You acquire a standard of living during your football years that you don't like to give up. It can be difficult to digest, since income is closed and the expense tap remains open. There can also be failed investments...", he adds.

When referring to failed investments, the Tressis financial advisor is aware that footballers are usually a source of income that family and friends turn to with all types of businesses. "If you don't have money, no one asks you to invest, but if you have money, they call you from all over to do it and you have to do it well," Chinarro points out.

Ronaldinho, in a charity match.Elvis GonzálezEFE

Ronaldinho

was one of the best Brazilian players in history, with a very short

prime time

for the quality he had, but which allowed him to play for big clubs like

PSG

,

Barcelona

or

Milan

before returning to Brazil and even going through Mexico and India. However, this has not been enough to maintain a high standard of living or to avoid financial problems.

Recently,

The Sun

newspaper published that the Brazilian Treasury tried to collect some debts from the player and that they only found six dollars in his accounts. Therefore, according to the tabloid, two properties had to be seized. "Having a good environment helps prevent these things from happening, although you don't have to have been a fool to go bankrupt," says

Javier Arizmendi

.

Thus, experts advise footballers not only to worry about physical preparation or nutrition during their careers and also to hire financial advice to be able to stretch what they generate during their active period. "It is a very atypical income cycle and you have to know how to optimize it," concludes Arizmendi.