By Ruben Figueira & Manuel Jorge
Introduction
Professional football has long been seen as the golden ticket, a path to fame, fortune, and global recognition. For many young athletes, a professional contract represents the realization of childhood dreams. Yet behind the glamorous headlines of multimillion-pound contracts and record-breaking transfers lies a sobering truth: far too many footballers end their careers broke, adrift, and unprepared for life after the game. Studies show that between 40% and 60% of former Premier League players declare bankruptcy within just five years of retirement. In France, half of professional footballers are financially ruined within the same timeframe. The paradox is painful: how do individuals who earn more in a week than many do in a year end up with nothing?
The answer lies in the fragile foundations of a football career: short spans, sudden wealth, poor financial advice, and a lack of education. While football demands total commitment on the pitch, neglecting education off the pitch can prove catastrophic. Education, academic, financial, and personal, is not just a fallback option; it is a critical tool for resilience, empowerment, and long-term success.
The Harsh Reality of Life After Football
The professional football career is startlingly short. The average top-division career in France lasts around four years. Injuries, dips in form, or failed contract renewals can cut careers even shorter. Each summer, up to 25% of players find themselves without a club.
For many, the financial fallout is devastating. Research by XPro revealed that 60% of former Premier League players went bankrupt within five years of retiring; updated estimates put the figure closer to 40%. In France, unemployment rates among ex-footballers exceed 15%. Players who once enjoyed wealth and fame find themselves struggling with debt, job insecurity, and identity loss.
The stories are as dramatic as they are tragic. David James, the former England goalkeeper, reportedly earned around £20 million across his career, yet filed for bankruptcy in 2014, auctioning off memorabilia to pay debts. Lee Hendrie, a former Aston Villa midfielder, lost an estimated £10 million through failed investments and overspending, leading to depression and bankruptcy. Ronaldinho, once one of the world’s most marketable footballers, allegedly had just £5 left in his bank account despite career earnings in the tens of millions. Even Diego Maradona, widely considered one of the greatest players of all time, died with modest savings and significant tax debts.
The financial collapse is often compounded by mental health struggles. Studies show that more than a third of active players experience symptoms of depression. For retired athletes, the risk is even higher, with many citing financial worry as the primary factor impacting their mental health. Some turn to destructive coping mechanisms: gambling, alcohol, and substance abuse. The end of a career can mean not just financial ruin but also a profound personal crisis.
The end of a career can mean not just financial ruin but also a profound personal crisis.
Why Education Matters
Against this backdrop, education emerges as a critical safeguard. It provides footballers with the tools to navigate life both during and after their playing days.
Earning millions means little without the knowledge to manage it.
Financial literacy as protection
Earning millions means little without the knowledge to manage it. Many bankruptcies stem from disastrous investments, failed tax schemes, or reckless spending. Education in basic finance, taxation, investments, and budgeting can shield players from exploitation and ensure that short-term wealth translates into long-term security.
Career transition and identity
A footballer’s identity is often tied exclusively to the sport. Yet the majority of players admit they do not know what they will do after retirement. Education broadens horizons, offering pathways into coaching, management, business, or entirely new fields. It builds confidence that life after football can still be fulfilling and purposeful.
Mental resilience
Players who invest in education are often better prepared for the inevitable transition. Athletes with higher education levels are less prone to depression during career changes. Education fosters adaptability, critical thinking, and a sense of control, essential buffers against the psychological toll of retirement.
Empowerment and independence
An educated footballer is less dependent on agents, advisors, or entourages. With knowledge comes the ability to scrutinize deals, make informed decisions, and resist predatory schemes. Education provides agency, the capacity to shape one’s destiny rather than being shaped by circumstance.
Lessons from Global Programs
While the statistics are grim, several countries and organizations are pioneering solutions by embedding education into football culture.
The Netherlands: The CFK Bridging Scheme
Dutch footballers benefit from a unique pension system where a portion of their salary is saved into the CFK fund during their playing years. On retirement, they receive annuity payments, providing financial stability while they transition into new careers. Crucially, the scheme is complemented by educational support from the Dutch players’ union, ensuring athletes can pursue diplomas and vocational training while still playing.
Denmark: Spillerforeningen’s 4player Program
The Danish players’ union offers holistic support through 4player, guiding athletes from their early careers through retirement. Services include career counselling, education planning, job placement, and mental health resources, even an anonymous helpline for those struggling.
United Kingdom: The PFA (Professional Footballers’ Association)
In England, the PFA provides one of the most comprehensive player support systems worldwide. Each member has a lifetime education allowance of up to £7,500, which can fund degrees, vocational training, or coaching qualifications. The PFA also runs a 24/7 confidential counselling helpline and provides financial planning advice, understanding that sudden wealth often leads to poor financial decisions. For those released from contracts, extra funding and outplacement programs are available, softening the blow of career interruptions.
FIFPRO Global Initiatives
As the world players’ union, FIFPRO has launched projects like Mind the Gap, which equips players with tools for career transition. It also partners with universities to create tailored academic programs, such as the HBO Academy in the Netherlands, offering part-time business degrees designed for active athletes.
Football Academies: Setting Standards Early
Several clubs have embedded education into their academies. Sporting CP in Portugal maintains a Psychopedagogical Department ensuring youth players achieve academic success rates above 90%. Benfica runs a school department with tutoring and study centers, integrating education into daily training. FC Porto provides subsidies and tutoring for players from disadvantaged backgrounds, while SC Braga even built its own on-site school. Outside Europe, Altınordu FK in Turkey blends academics with life skills like farming and languages, while Ecuador’s Independiente del Valle opened a bilingual high school within its training campus.
These initiatives demonstrate that football and education need not be in conflict. With the right structures, young players can excel both on the pitch and in the classroom.
Case Studies of Success vs. Failure
The contrast between failure and success in football careers is stark. Ronaldinho and Maradona, despite immense earnings, serve as cautionary tales of unchecked spending and lack of planning. Their stories underscore how fame and fortune can vanish without financial literacy or discipline.
On the other hand, players like Rio Ave’s captain Vítor Gomes embody the benefits of prioritizing education. Gomes completed both a university degree and a master’s while still playing professionally. His journey shows that academic achievement is not only compatible with a football career but can enhance it, providing stability, balance, and options for the future. Other success examples include former elite athletes like Juan Mata, who cofounded CommonGoal, or Esteban Grandero, who founded Olocip.
The message is clear: education is the difference between becoming a tragic headline and a role model for sustainable success.
Building a Culture of Dual Careers
The challenge lies not just in offering educational opportunities, but in embedding them into football culture. For too long, the narrative has been that football demands total commitment, leaving no room for studies. This false dichotomy has cost countless players their futures.
Instead, education must be normalized as part of the football journey. Academies, clubs, and unions must work hand in hand with schools and universities to provide flexible, accessible learning pathways. Success should not be measured solely by trophies but also by the number of players who transition into stable, fulfilling lives after retirement.
Moreover, players themselves must see education as an investment, not a distraction. The mindset shift, from football or education to football and education, is vital. Programs like those in Portugal, Denmark, and the Netherlands show that this cultural change is possible and profoundly impactful.
Conclusion
Football is more than a game; for many, it is a livelihood. Yet without education, that livelihood is perilously short-lived. The statistics of bankruptcy, unemployment, and depression among retired footballers are not accidents. They are the predictable outcome of a system that prioritizes short-term performance over long-term well-being.
Education offers the antidote. It equips players to manage wealth, transition careers, and sustain mental health. It empowers them to take charge of their destinies, ensuring that the end of a football career does not mean the end of stability or dignity.
For clubs, unions, and governing bodies, investing in education is not charity, it is a necessity. By embedding dual-career pathways into football, the sport can protect its players and preserve its integrity. For players themselves, embracing education is the most powerful way to ensure that the glory of today does not become the regret of tomorrow.
Football will always be about goals, but perhaps the most important one is scored off the pitch, in the classroom, where the game of life is truly won.
