Former footballer accuses advisers of exploiting young players

Written by Oliver Wade
20/11/2018

Former footballer Danny Murphy has accused some financial advisers of “brainwashing” young footballers.

The ex-player highlighted that dissatisfaction about the advice offered to footballers on how to manage their money was a contributing factor behind recent bids for reform at the players’ union, the Professional Footballers’ Association (PFA).

Murphy added that the PFA had allowed young footballers to fall victim to unscrupulous financial advisers who took advantage of their lack of financial affairs.

While speaking on TalkSport, Murphy said: “Since the TV money got big and players of my generation started retiring, problems have become bigger. Financial issues, lots of bankruptcy, we’ve had the sexual abuse, dementia has become a huge one for older players now and there's more people looking into that, mental health, addiction, all these things now are too much for the PFA to deal with, but they have the funds to expand and help, but they are not helping with legal advice.

“I know personally players struggling with all of the things I've just mentioned: mental health, addiction, financial abuse. You have to remember that we as Premier League players, we were at Premier League clubs, we were not protected by the PFA, not protected by the Premier League, when the IFAs were coming into the football clubs and brainwashing us or manipulating us.”

    Share Story:

Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

Newsletter

Subscribe to our newsletter to receive breaking news by email.




MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)