Once the youngest player to have won the Wimbledon mens singles championship, 49-year-old German-born tennis star Boris Becker was declared insolvent by a British Bankruptcy and Companies Court at the end of last month.
Becker, who, according to news reports, at one time boasted an estimated personal fortune of over £100million (R1.7billion), is not the first professional athlete to become a victim of poor financial planning.
Henry van Deventer, the head of wealth strategy at Old Mutual Wealth, says that, when it comes to securing wealth, the principles are universal.
When you consider their great success, its difficult to believe what happens to many pro-athletes and their money. However, there are no super financial solutions for spo…
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