Beyond the Playing Field: Financial Literacy Competencies for Professional Athletes in Team Sports

The importance of financial literacy for professional athletes is undeniable. This study aimed to build on previous research by identifying the financial literacy content areas that require the highest level of competence for professional athletes competing in team sports. To address this, 12 structured one-on-one interviews were conducted with a purposively selected sample of participants drawn from a network of potential actors capable of influencing the financial decisions of professional athletes, as informed by Actor-Network Theory. The research findings show that skills to avoid unethical behaviour, the acumen to navigate the transition to a post-sports career, savings and financial control are the content areas that require a higher level of competence. This study innovatively visualizes research findings through a heatmap to identify and prioritize focus areas. This study offers insights that may assist professional athletes to reduce their exposure to financial risks. The study may also engage sport’s governing bodies, professional clubs, players’ associations, researchers, and financial advisors aiming to deepen their knowledge of the financial literacy competencies required by professional athletes.