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Athletes Need Financial Literacy!

By Athena Constantinou, Managing Director, APC Sports Consulting, Nicosia, Cyprus


Many of the factors that make athletes financially vulnerable cannot be altered.  Athletes will always have to make decisions for themselves, and they will always be in charge of their own destiny through their actions.

However, the answer lies in educating and empowering athletes to make sound financial decisions by cultivating financial literacy as a life skill for athletes of all ages and at all sporting levels.

Currently, there is lack of an organized global initiative in connection with the financial education of athletes.  We believe that the stakeholders of the sports industry can all contribute in establishing financial literacy as an integral part of an athlete’s training in the global sports arena.

Sports Federations, Associations and Leagues can enforce regulations through which there will be mandatory adoption and implementation of financial literacy courses for all their members.

Sports Clubs can integrate financial literacy programs as part of their CSR.  Curriculums, which address an athlete’s financial life cycle, can be implemented from the team’s academy level to the players of the main team.

Sports Academies can incorporate financial education and empowerment courses for their members in view of the fact that the age of learning is very important.  Financial literacy is imprinted much easier at an earlier age when we are particularly receptive to learning or mapping different forms of information, and good financial habits become part of the young athletes’ everyday life for the rest of their lives.

Recognizing the need for the financial education of athletes, we have developed a number of tailor-made financial literacy curriculums and empowerment programs, which can be used by Sports Academies, Sports Clubs, Players’ Associations, National and International Sports Federations, to increase their athletes’ financial literacy and other life skills and encourage sound money management practices. 

Our standard curriculums and tailor-made programs are licensed out and, together with the course content, we provide Train-The-Trainer sessions to enhance the experience of delivering the program content.  Our courses and programs are updated annually, and licensees are provided with the updated course materials.

The Three Pillars of our Programs


Pillar # 1:  Financial Literacy

Financial Education programs are a key essential to the optimal development of young and older athletes.  The percentage of student athlete players, who will go on to the professional level, ranges between 0,5% to 1% of all student athletes.  Therefore, the vast majority of student athletes may very well end up having a conventional non-sporting career and these youngsters need to be given the necessary life skills which will help them in whatever endeavor they pursue in their lives.  In addition, professional athletes need to be educated about money, personal finances and financial options so that they acquire the ability to make wise decisions concerning money.

Financial literacy is globally acknowledged as an important element of economic and financial stability and development.  The development of appropriate financial skills is shown to boost entrepreneurship and provides athletes with additional tools in case they ever experience financial hardship.

Pillar # 2:  Empowerment and Mentoring

Personal development programs strengthen the whole person, not just the athlete!

Research shows that a large number of people, young and old athletes included, doubt whether they can achieve their goals.  Many youngsters, if they are not motivated to achieve, do not know how to plan or make decisions, and do not feel a sense of purpose. 

Through our empowerment and mentoring programs, we help athletes to:

  • Exercise critical thinking;
  • Be open to diversity;
  • Have respect for others and their values;
  • Cultivate self awareness;
  • Develop resilience;
  • Be proactive;
  • Form good habits; and
  • Invest in themselves by constantly learning.

Pillar # 3:  Sport Parenting

Sport Parenting enables parents of young athletes to encourage and support them with both academics and sports and it also guides parents to prepare for the financial challenges of sending their children to college/university.

In addition, through our courses, parents become better prepared to handle the scenario where their athlete child is not professionally successful in their sport; sport parenting equips them better to deal with the hurdles/challenges of this scenario.

Parents benefit by being included in the development of their children and they are given insight as to how to help their children become successful adults and guide them in designing their lives after their sporting careers.

Learning Objectives

Through our courses, we want to make sure that athletes obtain a basic financial understanding, together with the life skills which will help them:

  • Think about how they want to live their lives and figure out how to accomplish this;
  • Learn basic, yet useful financial concepts, which will help them make better financial decisions;
  • Realize that a sports career is a short one and that they need to prepare themselves for a second career afterwards;
  • Create a circle of trustworthy people and professionals who will support them in different areas of their lives;
  • Be aware that developing their personal brands will help them stay up-to-date and in the spotlight for much longer than their athletic ‘miracles’ endure.

The need for financial literacy for athletes cannot be overstated!

Athena Constantinou may be contacted by e-mail at ‘This email address is being protected from spambots. You need JavaScript enabled to view it.

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Maisto e Associati, Milano

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Hardwick & Morris LLP, London


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