Serving female sports professionals off the field

As a private client manager at Brooks Macdonald, I have had the privilege of working with a number of female sports professionals at different stages of their careers.

Some are just starting out, other individuals are established and earning, and some are nearing the end of their professional playing career.

The drive for equal pay among sportspeople has had varying success across different sports. All four grand slams in Tennis have equal prize money for men and women.

Female sports professionals are actively engaged with their finances

In football, FIFA president, Gianni Infantino, recently announced a target of equal prize money for men and women at World Cups by 2027.

For cricket, the England and Wales Cricket Board’s (ECB) 2025-2029 Women’s Professional Game Strategy outlines some changes that should see increased income for players in Women’s cricket over the next few years. 

As the income of sportswomen increases, it is vitally important to ensure that they are receiving financial education and advice.

My personal experience is that female sports professionals are actively engaged with their finances and are already saving towards their future.

They are keen to understand how they can maximise their financial position and transition from cash savings to investments.

The aim being to give them security and a high level of financial flexibility when they stop playing sport.

As advisers, we understand that each client has their own specific needs.

This is especially true for sportswomen, and in my experience, the following four considerations need to be thought about when it comes to their finances.

1) Preparing for the unexpected

The earnings and career progression for sportspeople can be very unpredictable.

You can have regular increases in income over many years, several lump sums for tournaments throughout the year, or your earnings could stop abruptly.

With the unknowns in a sporting career, having a financial plan and considering the various scenarios is key.

Cash flow planning tools allows clients to visualise how different factors can influence their income and model the evolution of their wealth over time.

This includes unexpected events such as sustaining an injury through to key life events such as taking time out to have a family.

Once they have a personalised financial plan, this underpins how much needs to be invested every month to help them reach their desired goals.

2. The projected earnings gap

On average, the level of income over the career of an elite professional sportswoman is less than the level of income of a comparable elite professional sportsman.

That can range from salary to sponsorship deals. As a result of this, starting to save towards your financial future as early as possible is key.

As some sportswomen may have less, they need their earnings to work as hard as possible, for as long as possible.

In addition to this, earnings trajectories can take a hit following pregnancy or if they decide to have a shorter career to start a family.

A team of professional advisers for holistic and joined up planning is very important.

Some sportswomen are not making enough to fund their lifestyle and have other jobs to compensate. This can also impact their ability to progress and consequently their projected earnings.

Time investing in financial markets and making the best use of your available tax allowances is pivotal to maximising the income over a career.

Individuals need to be aware of what options are available in their toolkit (including pensions and Isas) and have the appropriate information at their disposal to make informed decisions about their finances.

3. Building rapport and trust for a long-lasting relationship

To commit to a financial plan over the course of a sportspersons career, it is important to build a strong relationship with a financial adviser.

Building rapport sometimes comes down to someone you can identify with or someone that earns your trust.

It is therefore very important for sportswomen to have options when choosing the right financial adviser for them.

To that end, the industry must do more to increase diversity among the pool of financial advisers.

If, for example, a sportswoman wanted to be advised by a female financial adviser, their options are more limited than they should be.

4. The importance of a well-rounded ecosystem

An international career can also add to the complexity of financial planning due to the challenges of earnings accumulated in multiple jurisdictions.

Taxation planning, legal structuring, and understanding how best to minimise negative impacts of foreign exchange rates can be key in securing positive outcomes.

Having a team of professional advisers for holistic and joined up planning is very important.

As a lifestyle, a career in sports can be mentally and emotionally demanding, not just physically taxing.

Being financially fit for the long term is just as important as being physically fit for the next competition. Having a solid plan in place will best position sportswomen to realise their wealth goals and secure their financial futures.

Saisha Penny is private client manager at Brooks Macdonald