adminChipo Sabeta
Many sports personalities claim that they were ill advised on how to manage their finances during their heydays when they finally hit hard times after retirement. Others blame it on drugs, women and poor life decisions in marriage and family matters.
Numerous athletes have gone bankrupt or are under financial stress after their retirement because they have squandered their fortunes due to bad decisions, lavish spending and poor financial planning.
Some only have tattoos on their bodies as the remaining evidence of a high lifestyle once lived — of fast cars and beautiful and expensive women.
Footballers’ Union of Zimbabwe (FUZ) president Desmond Maringwa, admitted that it’s a challenge for sports stars across all disciplines and the union is trying to advice some of them on other demands of life.
“Ultimately, the biggest problem to fix is mental, because when the football actually stops, how do you fill the hole formerly supplanted by goals and screaming fans?
“The biggest issue is retiring, and I can tell you now, with 99 percent of players retiring, it is the transition from playing to non-playing that is a big challenge. That’s why it is important to find your second skill,” he said.
Drugs abuse and alcoholism
Two years ago, former Warriors player David Chikandawire made headlines as he was living on the streets of Johannesburg, South Africa. Others blamed it on drugs while some insisted that he needed rehabilitation due to depression.
Many sports stars have been found wanting due to drug abuse. Last year, Dynamos kicked out their long-serving midfielder Denver Mukamba due to drugs abuse and disciplinary issues.
Maringwa, a Fifpro committee member in charge of Southern Region said: “We also try to impact positively on the issues of drug abuse where we run a campaign called ‘I play fair, say no to drug abuse’. We bring in qualified and well trained people and organisations to talk to the players about the health dangers of abusing substances and how they impact negatively to one’s career.”
Maringwa said FUZ also offer financial advice to its members during club visits in top flight league in addition to a pension scheme to cushion players after they retire.
He insisted that players end up broke or under financial stress after retirement due to circumstances beyond their control.
Divorce, marriages and investments
Ex-Arsenal star Emmanuel Eboue lost “everything” to estranged wife last year. The Ivory Coast national shocked millions of his fans globally after admitting to being broke despite pocketing millions of pounds while playing in the English Premier League.
Eboue, also surrendered his Enfield house to his estranged wife Aurelie, who was awarded all their assets after a bitter divorce.
Back home, sports star Edward Sadomba and Sherylnn’s union seem to have been role models of many footballers with a strong Christian back ground blessed with lucrative investments and running family businesses together.
Sherylnn said understanding and utilising each other’s strengths in their marriage and managing their investments together helped them build a sustainable future at Sadomba’s peak
The couple has been married for 10 years and were blessed with four kids.
Sadomba has played in South Africa, Mozambique, Sudan, United Arab Emirates as well as Libya and could be joining Dynamos ahead of the new season.
Sherylnn, a lawyer by profession said having money was one thing while the ability to manage and invest it was a different ball game.
“We are two different individuals and we know each other’s weaknesses and strengths. My husband is a hard worker and I have my strengths in safeguarding our wealth and investing.
“We agreed from the onset not to misuse money. I personally don’t misuse and our trust in each other grows by each passing year. We hold millions but don’t fancy buying luxury cars, clothes and labels but the temptation is there. We have stayed in expensive cities like Dubai, but have remained disciplined. Having a lot of money is good but at the same time you have to be smart with it. You have to really find the right people to help you manage that money,” says Sherylnn.
The Sadombas have invested in 24 properties in Zimbabwe, Dubai as well as the United Kingdom and are keen on industrial businesses in civil engineering.
“We invested in immovable properties. Most of our money comes from rentals and we also do poultry farming with 12 000 chickens at most. All those things have sustained us as a family,” she said.
Outside investments, Sherylnn emphasised the importance of trusting each other as well as having wisdom.
“Football has a time frame and you need to prepare for life after retirement. That is why there is a certain level of wisdom that is required. Some sports stars have lost money to siblings and family members. I am grateful that we had mentors like Doctor Dzinga during his days from Harare United and that we grew our relationship under strict Christian principles.”
Overspending and women
Sherylnn continued: “I treasure education in sports stars. I believe that marital choices that players make will influence their destiny and are very important. We are no longer under pressure to impress people. I have seen sports personalities and wives, or girlfriends living lavish life styles without investment and the end is disastrous.”
Former Bafana Bafana striker Lerato Chabangu recently confessed his falls from grace after blowing his money on women and cars ending up with no income, no home and no car.
Education
Focusing on school provided a sense of balance but many sports stars disregard education and that has led in disarray after retirement.
Football players like Artwell Mukandi, Gabriel Nyoni Martin Vengesi, Maxwell Nyamupanedengu have recently been capped at various universities as they prepare for life after football.
Man City captain Vincent Kompany graduated with a Masters of Business Administration (MBA) degree in 2017.
Nyoni, a NUST graduate with Bachelor of Commerce and CAPS United forward said: “I hear a lot of excuses from guys I’ve spoken to about taking classes. They usually say something like, ‘I need to focus on football’.
“I am sure there were times when I was or doing some school work when the boys were going for a beer, but I never felt like I was missing out on those things. After my career, I will pursue my marketing profession.”
Bongani Ndlovu