How David Beckham Avoided This Common Athlete Regret
When dollars are rolling in by the millions, it’s easy to get comfortable. Unfortunately for a lot of professional athletes, there is such a thing as too comfortable.
The big salaries that come with a professional sports career can mean that athletes forget to plan for the future. It’s amazing how fast someone can spend a multi-million dollar salary.
A lot of athletes forget to make a plan B and end up broke. A professional sports career can’t last forever. Injuries can end an athlete’s prospects quickly and unpredictability.
While some athletes may regret not planning for the future, David Beckham isn’t one of them.
David Beckham is making a lot of money in retirement
Few athletes can achieve the same salary in retirement as they had when they were playing. Beckham is among those who can say he kept earning after his career as a professional soccer player ended.
Beckham retired in 2013. At the time, he was playing in the U.S. for the LA Galaxy. His salary, in English pounds, was over £700,000 per week. That’s $6.5 million per year in U.S. dollars.
It made him the highest-paid player in the league, but after retirement, that would seem like small potatoes to Beckham. Just two years after leaving the Galaxy, Beckham made £49 million in endorsement deals alone. That’s on top of other income streams, like business investments.
David Beckham is no stranger to business
The all-star MLS player didn’t rely on endorsement deals to fund his retirement. He planned carefully and used his huge salary wisely. He monetized his identity, creating a business to deal with rights to his image and name.
He set up another company called Seven Global LLP, to handle his products. Beckham benefits from sales of his clothes, accessories, and even fragrances.
He’s not the only Beckham with his own company. Beckham’s companies are under one umbrella company, Beckham Brand Holdings Limited, which also owns his wife’s businesses.
David Beckham is starting his own club
Having his own soccer team is something Beckham has dreamed about for a long time. Now, his dream is becoming a reality in 2020. Thanks to his smart investment strategies, Beckham has enough cash to form his very own soccer club.
The club will be based out of Miami, Florida. In 2018, he announced the club will be called Club Internacional de Futbol Miami.
He set up another business to hold the football club and its properties, called Beckham Miami United. The group bought a huge plot of land in Florida to build a brand new 20,000 seat stadium.
Starting an MLS level soccer team from scratch is no easy feat. Beckham started the venture five years ago. He’s made it clear that the Inter Miami CF will be his legacy.
He even included a nod to his first soccer gig in the team’s crest. The crest has two herons under a sun with seven rays. Beckham wore number seven when he played for Manchester United.
The Miami project is expensive, but it’s probably a good investment for Beckham. If nothing else, it keeps his name relevant in the soccer industry. Now that he’s retired, his name has become one of his most valuable assets.
A lot of athletes squander their cash on luxury and forget how unstable the sports business can be. Fans of Beckham are glad that he’s not one of them. Now they’ll have a whole new soccer team to root for.