A former German Football Association (DFB) team manager has criticized the financial management of professional athletes. While they earn millions, many of them do little with the money, said Oliver Bierhoff, now an employee of the Family Office Finvia, in an interview with the economic magazine “Capital” (February 2025 issue). “Many invest without a strategy” he said. “Many just don’t do anything before they make a mistake.”
Bierhof, a former footballer, also sees a failure on the part of the advisors. “Athletes invest in what they trust the most” he said, and since the advisors constantly told them that false friends lurk around every corner, athletes are extremely cautious. “The majority of athletes invest very cautiously – often too cautiously.”
On the whole, however, one is more advanced than during his active professional career. This is mainly due to the United States, where athletes like LeBron James and Kevin Durant build a brand around their startup investments. “Many European athletes look at this with a certain envy” said Bierhoff. Despite this, the topic of money is still not widely discussed in the locker room. “You don’t talk about contracts, the topic of money is rather unpleasant” observed Bierhoff.