Professional athletes earn astounding amounts for their efforts. For the top performers in their sport, the endorsements they receive are typically even more lucrative than their multi-million dollar player contracts. Their Agents specialize in negotiating the best deals for their clients, but they turn to ELANA’s Financial and Settlement Architects™ to manage their clients’ prosperity after signing.
Signing bonuses have showered talented athletes with huge sums of newfound and sometimes overwhelming wealth. Multi-year contracts and free agency have bolstered and enhanced these large sums of money at an exorbitant rate, often surpassing the player’s ability to monitor and invest their good fortune. The threat that no athletic career lasts forever must be considered and planned for. As they age and risk career-threatening injury, an athlete’s long-term financial planning becomes a concern to both the athlete and their loved ones. Because elite performance is limited to a few special years of a career, contingencies need to be made for life after the sport.
At ELANA, our performance planning for these contingencies is one way we differentiate ourselves in the eyes of our Sports Agent and professional athlete clients. Deferred income packages, tax-advantaged income streams, and savings and protections programs for athlete’s families may not necessarily fall into a Sports Agent’s wheelhouse, but they are significant part of ELANA’s advisor’s repertoire.
Would your clients benefit from the advice of ELANA’s Financial and Settlement Architects™? Contact us today to find out.