The days of professional footballers retiring from the sport to run a pub are well and truly gone. The riches bestowed on the game’s top stars have done more than just bump up their bank balances. If the latest move by Alan Shearer is anything to go by, their new-found wealth is encouraging them to take an interest in investment strategy.
| Shearer: striker-turned-investment guru? | ||||||
Once his playing days are over, Shearer will be swapping the black-and-white stripes of his beloved Newcastle United for the pinstripe of the City gent. The former England captain is to become a representative for the private-banking arm of UBS. What next: David Beckham as head of equities at Merrill Lynch?
UBS is targeting those whose earning power is concentrated over a short time-scale. For most professional athletes, earning power will be on the wane by their early 30s. Making the most of their income while at the peak of their careers is vital if they are to make ends meet in retirement.
By securing Shearer’s signature, presumably for less than the £15 million Newcastle spent to get him on their books, UBS hopes to use Shearer’s experience to raise UBS’s profile among other professional sportsmen.
How long till we see financial advisers with the number 9 and the word “Shearer” on the backs of their jackets?
