Sport in India received a real boost with the union budget adding a further 350 crores to the kitty. In a non-Olympic year, this is a significant addition. It shows that the sector is vibrant and the central government is serious about the 2036 Olympic bid.
More money in the domain is always welcome. Take the IPL, for example. It has made the cricketers millionaires and many now aspire to play the sport. Also, it is no longer restricted to men. With the start of the WPL, women have started to make serious money from cricket, and it is now a viable career option for many.
That’s what begs the question: how do these athletes handle wealth? When you see someone like Vinod Kambli on the horizon, this question becomes all the more pertinent. Kambli was one of the most talented batters of his time, and yet lost, he his mojo and was unable to deal with fame and money. For each of these young men and women who become millionaires overnight, handling wealth isn’t easy. That’s where you need professionals to do the job. How does an athlete make provisions for the future? What are the options before them? How do they invest their wealth for a secure family life? Are there interesting options for athletes to turn entrepreneurs from a very early age?
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Each of these questions is relevant to the ecosystem and will be asked at the Tata Steel Trailblazers conclave between March 6 and 8, 2025 in Kolkata.
At a session titled, “Managing Wealth: Athletes, leagues and the eco-system”, organised in sync with Ionic Wealth, we will explore all of these questions in detail and try to seek answers which could help our athletes in the future.
In fact, I am delighted to announce this partnership with Ionic Wealth and look forward to doing some meaningful work, which will impact the sports ecosystem going forward. The shelf life of an athlete isn’t really long and they need to secure themselves in this short timeframe. For precisely this reason, the questions mentioned above are relevant. As Srikanth Subramanian, Co-founder and CEO, Ionic Wealth said, “Athletes dedicate themselves to excelling on the field with careers that often generate significant earnings over a short period. Thoughtful wealth management can be a defining factor between enduring financial stability and short-term gains, particularly as lifespans continue to increase.”
“At Ionic Wealth, we are committed to guiding individuals through their wealth journey, ensuring that careers translate into lasting financial prosperity”, he concluded.