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Why PSL players go broke

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PSL players have always had problems handling money and recently, more retired players have spoken out about how they have squandered their fortunes as players and post retirement.

Many former players blame nearsightedness as the main ingredient of how they ended up broke. Often enough, they do not plan for the future after football. They live and spend lavishly in the present.

Luxurious cars, designer clothes and rented townhouses in exclusive estates. Players often have societal pressures to show off that they are playing in the PSL. This leads to players spending expensively on impressing society over their financial wellbeing.

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The PSL's lack of investment in player education and financial institutions not pursuing sports stars in South Africa is another reason why PSL players end up in poverty.

In overseas soccer leagues and other sporting codes such as the NBA. There are Management companies that manage players and their finances. This helps players live comfortably in the present, whilst knowing their future is taken care off too.

Introducing player management companies at PSL and Glad Africa Championship level would go a long way in helping PSL players cope with life after football.

Source: opera.com
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