Football legends share experience in business
Now in its third edition, the Summit was created as a platform to encourage footballers and fans to engage in money conversations using their passion for football as a catalyst.
On July 25, Nedbank hosted the Nedbank Football and Finance Summit.
Now in its third edition, the Summit was created as a platform to encourage footballers and fans to engage in money conversations using their passion for football as a catalyst.
“The third edition of the Football and Finance Summit came at a crucial time where the world is experiencing a pandemic and faced with financial challenges. As Nedbank, we provided guidance to footballers and fans to navigate current challenges,” said Khensani Nobanda, group executive at Nedbank Group Marketing.
“The topic of money is not an easy one for most South Africans, so we thought that by bringing football legends, players and financial experts together to share their financial goals, successes and lessons learnt, it would encourage more people to speak up and have these conversations.”
With the challenges that have emerged in the sports fraternity due to Covid-19, the summit also provided insight into the state and future of South African football in the current climate.
ALSO READ:
Safa welcomes dates to conclude season
Football legend and businessman Simba Marumo says that he has seen footballers make the same mistakes time and time again.
“Footballers from the 60s, 70s and 80s have repeated the same financial mistakes over the years.
“That is why I decided to write a book which speaks to not only making money but also managing and keeping it. I realised quickly from a young age that football is a short career, you can only play for five to 10 years or 15 if you are lucky.
“Football stops when your life actually begins where you have a wife, children and other responsibilities. So, one of the things I did to maintain my life after football was to buy land and build a property that generates money monthly.
“I would like to say to players, start now and buy assets because football money does not last.”
When asked what he would have done differently in the early days of his career, Reneilwe Letsholonyane, who signed his first contract at the age of 24, said that he wishes that he had saved.
“Even though I had some responsibilities in my family and didn’t earn a lot when I first started, I wish that I had saved and put some money aside because 10 years later, having that money would have made a difference today.”
Letsholonyane, who is the co-founder of the Soweto-based club ShaYe Lounge, admits that running a business hasn’t been easy.
“One of the reasons we wanted to venture into business was to break the chain of footballers struggling post their playing days.
“It has been a challenge because we may be big names in the football world but we are still new to the world of business. It’s a completely different industry and we are still learning and growing, especially now with the pandemic. I believe that its part of life, our aim is to become better businessmen and role models.”
PSL senior manager Lux September who formed part of the football panel said, “In our society, the subject of money is something we need to talk about more. Clubs do call financial experts to speak to players but I think it needs to be a continuous dialogue.
“The more we talk about it the more we can bring players like Yeye to platforms such as the Nedbank Football and Finance Summit, where they can pass the ball backward and play their part in sharing knowledge because someone is always listening.
“The league does spend time educating players because it is in our interest to see them become community role models, not just by being on TV or driving the latest cars but by buying property, building their homes and maintaining their livelihoods.”
Have a story?
Contact the newsroom by emailing:Editor at germistoncitynews@caxton.co.za, or Busi Vilakazi (Journalist) busiv@caxton.co.za.
Also follow us on:
