A fortnight ago, former Black Stars captain Asamoah Gyan called time on his illustrious football career after featuring for the country on 109 occasions and 346 times as a professional player since 2003.
His illustrious career includes being the highest African goal-scorer at the World Cup, a member of the Black Stars team that placed second in the 2010 and 2015 African Nations Cup (AFCON) and signing one of the most lucrative transfer deals in football history when he played in China and UAE.
Asamoah Gyan’s retirement and successful transition into business provide valuable lessons for current footballers. Gyan recognised the fleeting nature of his football career and began investing in various business ventures early. His business diversification helped reduce his risk and increased his chances of success.
Unlike public and civil servants who can retire at age 60, footballers have their highest retirement age perked at 40 years, and actually, after 30 years, the business end of a professional footballer starts dwindling.
Top European clubs which pay soo much weekly wages for footballers avoid purchasing a footballer who is 30 years and above.
Diversification
One important lesson for current footballers is diversifying their investments. By having multiple streams of income, they can ensure financial stability after retirement. Gyan invested in real estate, imports, water treatment, mining, transportation and boxing promotion, among other ventures.
This diversification allowed him to generate income from different sources in order to mitigate the risks associated with relying solely on his football career.
Partnerships
Additionally, forming strategic partnerships with other businesses and individuals can help footballers grow their businesses. Gyan partnered with a Chinese company to create a new energy drink brand called ‘Run.’
This partnership not only helped him to expand his business but also allowed him to leverage the resources and expertise of his partner.
He owns an events management and logistics outfit, including a band and a PA system for hiring, all through partnerships.
The former Black Stars striker also launched a solar energy company to help provide affordable and reliable energy to rural communities in Ghana.
Branding
Current footballers should also consider branding themselves to attract sponsors and corporate partnerships.
Gyan successfully branded himself with his jersey number 3 shirt and his moniker, BabyJet.
This branding helped him attract sponsors and promoted his business ventures.
By leveraging their brand, footballers can create additional opportunities for themselves both during their playing careers and after retirement.
Overall, Gyan’s success in business after retirement serves as a reminder to current footballers to think about their financial future.
Football careers are often short-lived, and it is crucial for players to plan for life after retirement.
By following Gyan’s example of investment, diversification, strategic partnerships and personal branding, footballers can secure their financial well-being and continue to live a life of luxury, even after hanging up their boots.