Seven biggest mistakes Sports professionals are making when choosing an accountant
Seven biggest mistakes sports professionals are making when choosing an accountant Your career earnings are significant but so are the financial complexities.
The wrong accountant could cost you a huge chunk of your wealth, and your future security.
We’ve got the answers
1. Hiring a non-specialist Not every accountant understands the financial world of professional sport. Football, boxing, motorsport, golf, each has unique rules, contracts, and tax implications. Mistake: Choosing a general accountant who treats you like any other client.
Fix: Work with a specialist team that understands your industry inside out.
2. Ignoring Bonus Structuring Bonuses can make up a huge part of your earnings but poor planning can leave you paying unnecessary tax.
Mistake: Accepting payouts without strategic timing or structure.
Fix: Use expert tax planning to keep more of what you earn.
3. Mishandling Image Rights and Sponsorships Your brand is your business. Mistake: Not structuring image rights or sponsorship income correctly, especially across borders.
Fix: Partner with an accountant who knows the international rules around image rights, royalties, and endorsements.
4. Overlooking Global Tax Obligations Many athletes compete and earn in multiple countries but don’t realise they could be overpaying. Mistake: Ignoring how different tax systems interact.
Fix: Work with accountants who understand global tax treaties and can manage multi-country earnings efficiently.
5. Forgetting Long-Term Wealth Planning Your earning window may be short, but your life after sport isn’t. Mistake: Focusing only on current income without planning for retirement or future investments.
Fix: Build a long-term wealth strategy early, not when your career ends.
6. Accepting Poor Communication You shouldn’t need a finance degree to understand your money. Mistake: Working with accountants who use jargon or fail to explain decisions.
Fix: Choose someone who communicates clearly, proactively, and honestly.
7. Not Building a Financial Team Around You You have coaches and agents for performance you need the same support for your finances. Mistake: Treating your accountant as a one-off service.
Fix: Choose a team that works with your agent, lawyer, and management to protect every aspect of your career.
AXIA INSIGHTS
At AXIA, At AXIA, our dedicated sports finance specialists help athletes maximise earnings,
structure contracts, and secure their futures — so you can focus on winning.
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