4 weeks ago
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Sports men and women going abroad to make capital of their skills is not new; it is just on a higher scale.
Their primary reason for doing so has not changed – they are driven primarily by the desire to make themselves and their families better off financially and all the add-ons which follow.
Many who go abroad tend not to return to Jamaica, and some have become citizens of other countries, generally after their competitive years.
Though cooling, it is still hot news that four outstanding athletes – Roja Stona, the 2024 Olympic discus gold winner; Rajindra Campbell, winner of the bronze medal in the shot put; Wayne Pinnock, winner of the silver medal in the long jump; and Jaydon Hibbert, world under-0 long jump gold medallist, have switched allegiance to Turkiye and will complete under its flag. Well, this is not so common.
Although Dr Emir Crowne – an eminent sports lawyer – is reported as saying that their decision was not purely financial, it seems clear that it was the main driver behind the decision. Wayne Pinnock is quoted as saying that he wanted to secure a better future for himself and his family, and stated that there is life after track and field.
Turkiye was able to secure their allegiance by offering ongoing support for the athletes, attractive sign-on bonuses, annual stipends, and performance-based bonuses.
Track and field athletes are not the only ones going abroad to ply their trade. Our netballers play professionally in the United Kingdom and Australia. At least one has become a citizen of Australia but still dons the Jamaican colours.
Our footballers play professionally in the United States of America, the United Kingdom, Europe and Israel, for example. Some don the national colours when invited to do so, and some do return home. But there are others who don’t. Jamaicans playing football professionally abroad goes back decades.
We lose some, and others get a chance to rise. Rudolph Speid, the technical director of Cavalier football club, laments the loss of his three top players. He has had the experience of losing even more, but this time he has been hit hard, for he feels it will not be easy to replace them from the crop of players available to him.
What is good for the football clubs is that they generally earn from the transfer of players to other clubs, which gives them the opportunity to build their clubs and develop other players to get an opportunity to better themselves and their families financially.
international cricket
Even cricket is losing players. Franchise cricket in India, Pakistan and Australia, for example, is providing a good livelihood for many of our players, most of whom still reside here. Andre Russell is done with international cricket, but not franchise cricket. Jamaicans playing cricket professionally abroad is not new. Recall those who played county cricket and league cricket in the United Kingdom going back decades.
Our elite sports men and women, and even some at the level below, have been using their prowess as strong assets to improve themselves and their families financially and all that comes with financial success. For many, it has been life-changing. Even for those who remain in Jamaica or return to live here, the change in their lifestyles is obvious.
There are some – some more high profile than others – who have been using their success to make others better off. Through their foundations and their sponsors, they have been transforming the lives of others. Usain Bolt, Shelly-Ann Fraser-Pryce and Yohan Blake come readily to mind.
But not all successful sports men and women have something to show for their achievements on the field of play. History shows that some end up being destitute. The reasons are many. Some waste their money, some are swindled by people they trust, some engage poor investment advisers, and some try to help too many causes – worthy or unworthy.
Some sports men and women run aground because they bank solely on their prowess in their game. They leave themselves little to bank on when the tide turns, whether by injury or non-selection, for example, and some forget that the active years are generally short.
Michail Antonio’s mother was smart. She prompted him to get an education first. Now he has education and football. Like him, there are smart athletes who make full use of educational opportunities, by scholarships, for example.
Regardless of how much money sports men and women make from prize money, endorsements, sponsorships, appearance fees, contracts, and business, the laws of financial management still apply, and financial literacy does help. Money not managed well will not give sustained financial security to them and to their families, regardless of where it is made and the currency in which it is earned.
Oran A. Hall, author of Understanding Investments and principal author of The Handbook of Personal Financial Planning, offers personal financial planning advice and counsel.finviser.jm@gmail.com
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