YORKSHIRE Bank has formed a partnership with the Rugby Football League – to provide professional players with advice to help them make the most of their financial arrangements.
The bank’s private banking team has been visiting Super League clubs across the country to talk to players to find financial solutions that suit their individual needs.
The partnership, led by Phil Weston, sports partner at Yorkshire Bank, intends to increase players’ knowledge and awareness of financial concerns and encourage them to manage their money and make provisions for their future financial security.
The bank said that with relatively short careers and the chance of injury, loss of form or the increasing risk of clubs encountering financial difficulties, the potential pitfalls for professional sports people were numerous.
Said Mr Weston: “Many professional sports people aren't really clear about what they may qualify for if injury ended their careers. All too often, they don't know what cover they need to top up what’s available in their contracts. Consequently, players are often stepping on to the pitch without the right levels of protections.”