Footballers and money

[Owls2k]

5 minutes ago, @owlstalk said:

This is quite accurate

We've gone from a nation that never spent a penny and saved up to buy stuff, to what we have now, a generation of kids who have nothing, are spending what they don't have, and don't care  (yet)

 

For the record I firmly object to the use of quite in your otherwise exceptional post. 

[scram]

30 minutes ago, @owlstalk said:

This is quite accurate

We've gone from a nation that never spent a penny and saved up to buy stuff, to what we have now, a generation of kids who have nothing, are spending what they don't have, and don't care  (yet)

 

Yes

 

We have become a nation that lives on credit

 

Meanwhile thinking we are enriched

[Guest LondonOwl313]

11 hours ago, adelphi1867 said:

When Nurses and other professional people are attending food banks to survive, why are sportspeople any different?.

Sadly it is an indicament of the society today that for the last 40 years society has been encouraged by sucsesfull govt's to live life on credit, hence the record levels of private debt in this country.

The problem goes even deeper than that I’m afraid.. it’s not a UK specific problem this is a global issue and it’s systemic.

 

There’s very little that can be done about it now because we’re dependent on ever expanding credit just to cover the costs of prior credit. At individual, corporate and government level too. Any attempt to reign that in would see the system collapse. 
 

It began in 1971 when the US decoupled the dollar from the gold standard, and now the central banks can print however much cash they want. That then leads to all of the other problems. 
 

I see signs that we’re pretty close to systemic collapse now because of the debt levels vs income, overinflated asset prices and the political trend for people to rise up against capitalism. Close to a tipping point where things will be replaced by something else

[nevthelodgemoorowl]

What needs to be better understood is the entire purpose of credit which is to feed capitalism and it's multi billionaires.

 

In the 20's and 30's credit wasn't available to the working man finance capital served several wars the purpose of which was to enhance our colonial and imperialist standing in the world. The working families never saw a divi from these enterprises. It seems strange looking back now but the Tea and Sugar, the Rum and Brandy  were all under lock and key in the big houses. Of course the owners of some of these big houses were sea captains who would bring with them on their return Black cargo which had journeyed via Africa and the Caribean to serve loyally their masters in sea ports such as London, Liverpool and Bristol. Neighbours would tap into the human cargo brought home by the sea captains at a handsome profit. Having one or two Blacks in service was quite a status symbol.

 

When Wilburforce et al finally forced abolition a government enquiry set aside a huge payment of compensation for the time £20 Million. However, this was not for the human cargo that had been enslaved and trafficked. Oh no, this was for the plantation slave owning individuals and Sea captains. Many of these families today still proudly boast their wealth.

 

Moving on Colonialism and Imperialism began to run out of steam as the empire faded super profits were not what they were on various products. Tea, Coffee, Sugar, Tin, Rubber our Steel and ship building lost it's competitive edge. Economists described this as the 'Tendency for the rate of profit to fall in the expanding capitalist economy'  Hence the growth and availability of credit. The worker could no longer afford to purchase those self same products which he/she produced.

 

On the agenda soon came Foreign holidays, TV's then colour TV's, fridges & Freezers, Cars, washing machines, my personal favourite waste of money was the dish washer, never owned one by the way. Oh A very special type of spender the Britophobe Caravan Club owner.

 

Sorry for going on a bit. People criticise my Socialism but I honestly think that we are collectively capable of changing society.        

[Deepcar_lights]

19 hours ago, TheEnchanter said:

Also it's remarkably different to addictions and diseases such as alcoholism and gambling. It's not the same level of issue to say its a disease and addiction to overstretch your finances by having expensive cars and luxuries.

 

I agree, yet very similar in the sense that when we purchase something new, there's often a release of chemicals that make us feel good. 

 

So we dump those chemicals into our voidz. 

 

It's short acting, and subsides relatively quickly. I relate it to new mobile phones, where I tend to be quite precious with them at first, within a few months I'm less attached to it and slinging it around as if it's nothing. 

 

Not to say buying stuff shouldn't happen, it's enjoyable. All depend where a person is coming from within the act, similar to booze, and gambling. 

 

 

 

[thewookieisdown]

20 hours ago, Chris Apolon said:

 

I would argue players in the lower leagues (league 2 level and below) have far higher outgoings than the average person too though. Imagine playing for a team in London, rent/mortgage ain't going to be cheap plus as the article mentions, finance agreements that are unsustainable in normal times (car finance, credit cards, who knows). 

 

Footballers with debt is akin to the 80s/90s drinking culture and the 00s/10s gambling culture in my eyes and I reckon this article will be the first of many over the coming decade

 

I also think the complaints over furlough were from general club staff rather than footballers. 

Simon Kuper has an interesting piece in the FT recently which touched on this. We tend to think London clubs have an advantage in the markets because footballers (and, ahem, their spouses) want to locate there. I know from a personal contact that about five years ago Sunderland were seriously thinking about relocating their training operations to the South East because they were struggling to recruit.

 

But actually outside the premium markets, and I mean as high up as the Championship, that breaks down. The affordability issue bites; and clubs like Millwall & Charlton aren't generating any London premium for themselves to compensate for London costs.

 

One interesting point here is of course that footballers tend to have kids super-early. You see 27yo players coming onto the pitch at the end of the season with offspring who look ready for primary. 

[@owlstalk]

8 hours ago, nevthelodgemoorowl said:

What needs to be better understood is the entire purpose of credit which is to feed capitalism and it's multi billionaires.

 

In the 20's and 30's credit wasn't available to the working man finance capital served several wars the purpose of which was to enhance our colonial and imperialist standing in the world. The working families never saw a divi from these enterprises. It seems strange looking back now but the Tea and Sugar, the Rum and Brandy  were all under lock and key in the big houses. Of course the owners of some of these big houses were sea captains who would bring with them on their return Black cargo which had journeyed via Africa and the Caribean to serve loyally their masters in sea ports such as London, Liverpool and Bristol. Neighbours would tap into the human cargo brought home by the sea captains at a handsome profit. Having one or two Blacks in service was quite a status symbol.

 

When Wilburforce et al finally forced abolition a government enquiry set aside a huge payment of compensation for the time £20 Million. However, this was not for the human cargo that had been enslaved and trafficked. Oh no, this was for the plantation slave owning individuals and Sea captains. Many of these families today still proudly boast their wealth.

 

Moving on Colonialism and Imperialism began to run out of steam as the empire faded super profits were not what they were on various products. Tea, Coffee, Sugar, Tin, Rubber our Steel and ship building lost it's competitive edge. Economists described this as the 'Tendency for the rate of profit to fall in the expanding capitalist economy'  Hence the growth and availability of credit. The worker could no longer afford to purchase those self same products which he/she produced.

 

On the agenda soon came Foreign holidays, TV's then colour TV's, fridges & Freezers, Cars, washing machines, my personal favourite waste of money was the dish washer, never owned one by the way. Oh A very special type of spender the Britophobe Caravan Club owner.

 

Sorry for going on a bit. People criticise my Socialism but I honestly think that we are collectively capable of changing society.        

 

Good post that Nev.

 

[Stoop]

22 hours ago, whatdial said:

This happens in every walk of life. Only your parents can teach you the value of money. 
 

I think schools should teach lessons on finance, mortgages, credit cards, to give context to those that won’t have the guidance. Show how much things cost and what you need to earn in order to have them comfortably. 

 

don’t see how we should feel sorry for footballers though. 
 

 

Good point that

 

Schools educate kids in everything apart from how to deal with money. Needs sorting 

[metaframe]

Wow more left wing drivel. 
 

Ignoring the smash capitalism whilst I post from my iPhone nonsense... what’s needed in terms of the OP is education. 
 

the PFA have a responsibility to protect these youngsters from going the wrong way. 
 

It’s drug dealer level money and I bet many get mixed up in the wrong crowds because of it. 
 

Edited June 7, 2020 by metaframe

[soldierboyblue]

23 hours ago, @owlstalk said:

Not all players are on massive money in football. 
 

Not all players at our club are on big bucks. We have Under 23’s turning up to training with our first team, driving into the car park at Middlewood and seeing the first team’s cars.

 

They will also see our first teamers on nights out splashing the cash.

 

Throughout football there is a real hidden problem that these younger players or players moving to a bigger club but not on massive wages try and keep up an appearance

 

Expensive cars, clothes, houses, credit cards and other things mean that to everyone they’re successful footballers, but behind the scenes they’re spending way more than what they get in wages.

 

If you think this isn’t a thing think again. It’s real and it’s a massive problem as footballers try to keep up with others, present an image, and end up bankrupt or worse.

 

Have a read of this. It’s a long read but a detailed account of how it happens, what can unfold, the pressure in the game from other players and friends outside football who imagine you’re on massive wages and all first hand from a professional footballer

 

Its a great read
 

 

https://fraserfranks.sport.blog/2020/06/05/money-in-football-keeping-up-appearances/

My best mate from the Army used to go out with Matt Elliott’s ex wife for quite a while. He was introduced to another world. But what shocked him the most was a very well known footballers wife calling round to lend money to pay the mortgage as he had gambled it all away. 
 

I met Cath on quite a few occasions and she would think nothing of going to London and spending £3k on beauty treatments etc not to mention ordering the entire menu if we went out for scoff!

 

as you say Neil it’s all about appearances for a large amount of footballers and their wives 

[Stoop]

I don’t know if anyone knows this but Jose Semedo is best mates with Cristiano Ronaldo. Spare a thought for him when he’s out and about with Ronny, imagine what’s it’s like when the bill comes 

[@owlstalk]

33 minutes ago, soldierboyblue said:

My best mate from the Army used to go out with Matt Elliott’s ex wife for quite a while. He was introduced to another world. But what shocked him the most was a very well known footballers wife calling round to lend money to pay the mortgage as he had gambled it all away. 
 

I met Cath on quite a few occasions and she would think nothing of going to London and spending £3k on beauty treatments etc not to mention ordering the entire menu if we went out for scoff!

 

as you say Neil it’s all about appearances for a large amount of footballers and their wives 

 

Good point - had totally forgot about the lifestyle of the wives/partners too

[SettleForADraw]

Feeling embarrassed into buying a brand new Audi . Jesus, that’s like turning up to your new minimum wage job at 17 and seeing someone who’s been working in the sector for years who’s really good at what they do and managed to work their way up and being embarrassed by your motor. Nothing to do with being a pretentious àrsehole who’s wanting to make everyone believe you‘ve hit the big time? Work your nads off for it and earn it on merit, tools.

[Sergeant Tibbs]

On 06/06/2020 at 11:07, Chris Apolon said:

I work in the debt industry and cannot begin to tell you how many stories I've heard that are so similar to this - it's so easy to get credit nowadays especially when credit referencing apps are nothing but credit brokers selling debt

 

One bloke I spoke to the other day, was paying 600 quid a month for a Merc. His income was 1300. He had rent to pay, bills, lived on his own, all cos he wanted to impress his mates.

 

Another guy kept getting offered credit. All on 0% interest but a lot of people don't realise it ends. Suddenly he's paying 1500 quid a month to debt, a large amount on interest and not seeing it come down.

 

I could tell you hundreds of stories and the "if you can't afford it don't get it" does my nut in when it's such an easy trap to fall into and there is ZERO education in schools about money management.

 

This story, whilst interesting, is no different from someone one a well paid job who gets made redundant and finds a job on 70% of what they were on or less and really should be used to highlight problems in society as a whole 

About 12-15y ago I and some of my team used to visit schools and give talks around the value of budgeting and more importantly how to avoid debt. 
Ironically we stopped getting invited back just before the credit crunch.

You are right that it needs to be part of a wider curriculum as opposed to voluntary work. 
Last year I presented at an RAF cadets group, the audience, including parents were far more engaged than the schools. That kind of discipline is sadly lacking, and in the case of footballers they have a lot of free time and excessive funds. It is no surprise that the new kids want to be seen to be competing socially and financially.

Money is a life lesson and unfortunately some learn it too late.

Society has not helped with throwing obscene amounts at players...football clubs sponsored by gambling sites. 
Sky have a lot to answer for, but they are just the tip of that iceberg.
But at the end of the day, parents have responsibilities to educate their kids and in most cases people are not forced into debt.
 

[Musn't Grumble]

The appearance of "excess money" can give is often a sham...

 

Many years ago, one of our customers had a lowly clerk who suddenly turned up to work in a Porsche 911. He might as well have put a poster up on Campo Lane saying "Hi everybody, I'm Dave and 'm embezzling the boss's cash". Needless to say, he was investigated, arrested and banged up.

 

By the opposite token, I was speaking to a National League manager (who also had a very successful professional career in the leagues) a few weeks ago. He car shares with the physio and a couple of players to get to training and home matches. 

 

I also know a youngster with a PL club who still stays at home with mum and dad.

 

Although I doubt that many players in the PL and Championship (maybe L1, too?) are struggling cash-wise at the moment, £200k per week is very much the exception and not the rule.

[Guest]

4 hours ago, @owlstalk said:

 

Good point - had totally forgot about the lifestyle of the wives/partners too

 

Marrying someone obsessed with spending the money like that and in it for the lifestye is destined to end well........

[83owl]

6 hours ago, thewookieisdown said:

Simon Kuper has an interesting piece in the FT recently which touched on this. We tend to think London clubs have an advantage in the markets because footballers (and, ahem, their spouses) want to locate there. I know from a personal contact that about five years ago Sunderland were seriously thinking about relocating their training operations to the South East because they were struggling to recruit.

 

But actually outside the premium markets, and I mean as high up as the Championship, that breaks down. The affordability issue bites; and clubs like Millwall & Charlton aren't generating any London premium for themselves to compensate for London costs.

 

One interesting point here is of course that footballers tend to have kids super-early. You see 27yo players coming onto the pitch at the end of the season with offspring who look ready for primary. 

Course they do. What better way if you are going out with a footballer to ensure you get cash coming in for the rest of your life than to get pregnant. 
 

In Manchester on a night out you get girls from low income families who have little or no education and low income jobs from all the local mill towns (Blackburn, Rochdale, Burnley, Oldham etc). Their only aim on the night out is to update their Instagram with new pictures of themselves in the toilets and to pull a footballer and that’s it.

[Guest LondonOwl313]

56 minutes ago, hirstyboywonder said:

 

Marrying someone obsessed with spending the money like that and in it for the lifestye is destined to end well........

Lol I’d imagine that it’s par for the course with young women nowadays.. they’re all obsessed with instagram and celebrity status. If you’re a young footballer with lots of cash then the pressure to flaunt it must be huge to compete for the better looking girls who would drop you like a hot potato if you didn’t. I can totally see why many young pros spend like they’re definitely going to make it big even if they subsequently fail