The Athlete Finance Playbook

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YOUR 4 INCOME STREAMS

1. Prize money, inconsistent, taxable, stops when you stop
2. Sponsorship, equipment, apparel, appearance fees
3. Coaching & clinics, your most consistent income
4. Content & endorsements, build audience, build income

THE 3-NUMBER FORMULA

① Monthly cost to play = travel + entry + gear + coaching
② Break-even = the prize money you must win to cover costs
③ Runway = months you can compete without earning a naira
Rule: Keep at least 3 months runway at all times.

THE 50/30/20 RULE (ATHLETE VERSION)

50%, Competition costs (travel, entries, gear)
30%, Development (coaching, courses, fitness)
20%, Save & invest (emergency fund first, then grow)

5 SPONSORSHIP RED FLAGS

🚩 Exclusivity too broad, "no competing brands" in what category?
🚩 Performance clause, ranking drops = pay cuts
🚩 Image rights with no expiry, they use your face forever
🚩 No termination clause, you can't exit even if they fail
🚩 Payment on "approval" only, vague criteria = no payment

NIGERIA BANKING BASICS

✓ Open a dedicated "tennis" account, never mix with personal
✓ International prize money, check CBN remittance rules
✓ Keep every receipt, training, travel, gear = deductible
✓ File with FIRS, professional athletes are taxable