Khama urged to invest

Grace Chingoma: Senior Sports Reporter

ZIMBABWE international Khama Billiat is set to rake in R1 million from the $1,5 million that Mamelodi Sundowns picked from winning the CAF Champions League. Sundowns’ owner, Patrice Motsepe, ordered that the players and officials share the prize money.Billiat has already collected R450 000 after he scooped all the awards in the Absa Premiership in May. He was named the Footballer of the Year, Players’ Player of the Year and Absa Midfielder of the Year when the season ended in May.

The Warriors forward is also one of the highest-paid players in the ABSA Premiership. The 26-year-old, who has been in great form for the Pretoria side has been advised to invest wisely.

“The prize is theirs. They must sit down now and start thinking how they will divide the money amongst themselves,” said Motsepe. “I said to them don’t waste the money. Take some of the money and put it in something that will benefit you when your football days are over.”

The Brazilians, comprising of a squad of 40 players, are expected to get roughly $37 000 per player if the money is equally shared. That is before other deductions such as tax are factored in.

Normally in Cup games, teams share the prize money on pro rata basis with a player who featured in many games getting more compared to a player who featured less. And usually coaches of big clubs usually have contracts which entitle them to a certain percentage should the team win Cup games or the league.

Yesterday Billiat’s mother, Rosa, who is proud of his son’s achievements, said they always encourage him to invest for rainy days. A financial advisor with an investment company underscored the importance for athletes to seek professional financial advice.

“We always encourage him to invest because with a career like football you need to plan for your future and family. It is not good that someone who would have won trophies at his peak ends up a pauper. You will become a laughing stock.

“I believe players past and present are always advised by people around them that they should save, but I think they make a mistake that they are still young, will always invest in the future. “But no one knows when God’s opportunity comes and when it goes so I believe when an opportunity comes it must be used there and then,” said Mrs Billiat.

Zimbabwe former Commonwealth champion Arifonso “Mosquito” Zvenyika is one athlete who has come out in the open admitting that he squandered his fortune. He recently advised WBC Silver welterweight champion Charles Manyuchi to save money.

“I was a two-time Commonwealth champion in the late 1990s, but I have nothing to show for it today. Invest your earnings wisely,” said Zvenyika.

The financial advisor said there was need for guidance.

“There is need to sit forward with a financial planner so that he manages that side while a player focuses on the pitch. “The players also need to stay from debt. “When players get a lump sum they should look ahead, considering short-term and long-term plans, remember it is not every day that one gets a lump sum. “Looking at short investments, there are packages which address that.

“And when it comes to long-term investments, remember, we are all going to retire and when you grow older you need to survive on past savings. “With players things like insurance, personal or terms insurance are very important. “Also investing in property is vital,” said the expert.