Bryan Robson, also known as Captain Marvel, is one of the most iconic players in Manchester United‘s history.
As an outstanding midfielder, he played a total of 453 matches for the club from his debut in 1981 until he moved to Middlesbrough in 1994, winning various trophies during his 13 years there.
Robson won the English league title twice with United and has kept a strong bond with the club.
However, he has faced financial troubles over the years due to poor financial advice.
He was misled into investing £250,000 in a non-existent hotel project in Canada and lost another £550,000 through a film investment scheme that promised tax benefits.
Concerned about the financial struggles of many footballers, both past and present, Robson established Xentum Sport.
Partnering with former United player Simon Andrews, who became a financial adviser after retirement, Robson aims to help players understand personal finance better.
Robson emphasized the risks young players face once they sign their first contracts, stating, “They become targets for con artists and opportunists.”
His first move was to connect with Manchester United, discussing these issues with INEOS’s chief finance officer, Roger Bell.
During a dinner meeting, Robson expressed his desire to offer practical financial advice to younger players. Bell recognized the importance of this initiative, which led to Robson addressing various youth teams and player welfare staff.
These discussions uncovered serious issues, including hidden fees in contracts imposed by agents.
For example, one 20-year-old player had £150,000 saved up for a house costing £3.5 million but was unaware of mortgage or stamp duty details.
Robson noted, “Many young players might never get a contract as lucrative as their first one and may struggle if they move to a lower division with lower pay.”
He added, “The young players are vulnerable. When I signed my first contract, my parents were with me. They were smart but not familiar with finance.”
Robson highlighted that parents today often try to give financial advice without proper knowledge, making young athletes easy targets for unregistered advisors.
Add Footem.in As your Preferred Source on Google
Follow the latest on Footem WhatsApp Channel
