Athletes and Financial Networking

By Panayiotis Constantinou, The Sports Financial Literacy Academy, Nicosia, Cyprus

Behind every financially successful global athlete is a network: not just of fans and followers, but of advisors, mentors, and experts who help to manage complexity. From cross-border tax planning to investment strategy and legal compliance, international athletes need more than raw talent and good instincts, they need the right people in their corner.

Financial networking is not about having the biggest entourage. It is about building smart, trustworthy, and globally connected teams that evolve with your career. And in a world where income is earned in one country, taxed in another, and invested in a third, that network might be the most important asset you own.

This Post explores why financial networking matters; what it looks like in practice; and how athletes at any stage can begin building a team that protects and multiplies their wealth.

1 | The Value of a Cross-Border Financial Team

When Roger Federer built his business empire—through sponsorships, equity stakes, and his own brand (On Running)—he didn’t do it alone. He worked with a team of lawyers, accountants, and investment advisors across Switzerland, the U.S., and Asia to make sure every move was legally sound and financially strategic.

Why it matters:

• Different countries = different rules for tax, contracts, and investments
• Advisors in just one country may not see the full picture
• Cross-border decisions require coordination, not guesswork

🔹 Tip: Aim to build a “triangle” of advisors: one in your country of residence; one where major income is earned; and one where long-term wealth is held or invested.

2 | Not All Advisors Are Equal

After a successful NBA career, Tim Duncan discovered that his financial advisor had mismanaged millions of US dollars through poor investments and fraudulent schemes. It was a harsh reminder: even at the highest level, bad advice is expensive.

When choosing financial advisors:

• Look for international credentials (for example, CFP, CFA, tax law experience)
• Ask how they are compensated—fee-only vs. commission-based
• Demand transparency and regular reporting
• Do not confuse friendship or loyalty with expertise

🔹 Tip: Treat advisor selection like signing a teammate. You need skill, trust, and alignment—not just availability.

3 | Build Your Network Before You Need It

When Formula 1 driver Sebastian Vettel began transitioning out of racing, he already had advisors in place to help with investment portfolios, real estate diversification, and sustainability ventures. The planning did not start when he retired, it started years before, allowing for smoother decision-making and better deals.

Early-stage athletes often overlook this step, but:

• Getting advice before you earn big allows you to structure assets properly
• Early legal and tax setup prevents costly restructuring later
• Networking with professionals early builds trust and understanding over time

🔹 Tip: Use your off-season to meet potential advisors, interview firms, and begin forming your core team—before contracts grow more complex.

4 | Use Your Brand to Attract Top Talent

Global athletes hold enormous social capital—and that includes access to world-class professionals who want to work with people like you.

Take Maria Sharapova, for example. Her post-tennis ventures, including her premium candy brand Sugarpova and her investments in tech startups, have attracted top-tier advisors because she is clear about her vision and treats her brand as a business.

Top advisors are selective. To attract them:

• Be prepared, know your goals and current financial position
• Show commitment to long-term growth
• Treat meetings like interviews, not favours

🔹 Tip: Your name opens doors, use it to build a team, not just an audience.

5 | Coordinate, Do not Just Collect

One of the biggest mistakes athletes make is hiring separate advisors who never speak to each other: a tax advisor in one country, an agent in another, and a wealth manager elsewhere.

Without integration, this leads to:

• Conflicting strategies
• Missed opportunities
• Risk of non-compliance

Athletes like Novak Djokovic, who operates businesses and philanthropic foundations in multiple countries, rely on coordinated teams that meet regularly and collaborate across time zones.

🔹 Tip: Assign a “quarterback” for your financial network—someone, often a family office manager or primary advisor, who ensures communication flows and strategy stays aligned.

Final Word: You Do not Need to Know Everything – You Need to Know the Right People

Athletes are not expected to be tax experts, lawyers, or investment pros. But they are expected to protect and grow what they have earned. Financial networking is how you do that; not through guesswork or going it alone, but by surrounding yourself with people who understand the stakes and the structure.

Start building your network early. Ask good questions. Stay involved. Because at the end of the day, the best athletes do not just win on their own, they win with a team. And, in the financial arena, your team matters more than ever!

For further information, log onto The Sports Financial Literacy website at: ‘www.moneysmartathlete.com’