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Financial footing

Tel Aviv Stock Exchange to coach soccer players on smart investment tactics

Digital financial program will teach professionals how to manage pensions and savings, diversify risk to secure financial stability post retirement, TASE says

Shoshanna Solomon is The Times of Israel's Startups and Business reporter

Israeli soccer returns after months of coronavirus hiatus, with a Premier League match between Beitar Jerusalem and Hapoel Beersheba at the Teddy Stadium in Jerusalem on May 30, 2020 (Flash90)
Israeli soccer returns after months of coronavirus hiatus, with a Premier League match between Beitar Jerusalem and Hapoel Beersheba at the Teddy Stadium in Jerusalem on May 30, 2020 (Flash90)

The Tel Aviv Stock Exchange (TASE) and the Israeli Professional Football Leagues (IPFL) said on Monday they will provide premier league soccer players with a financial coaching program that will help them make smart investment decisions and save for when their careers are over.

The digital financial coaching program will be run in a series of sessions by economist Yaniv Pagot, who was recently appointed head of Trading at the Tel Aviv Stock Exchange and who has extensive capital market experience.

The soccer players and Pagot will discuss how to manage pension and savings funds, how to diversify risk and how to manage a budget, among other topics.

Professional athletes have a unique financial challenge, as their career is short, lasting 12-15 years. This makes it necessary to make smart use of investment tools and long-term planning so they can live comfortably even after retirement from the field, the TASE said in a statement.

In 2019, as part of an initiative to increase public participation in the stock exchange, TASE signed a three-year sponsorship agreement with the IPFL, and the official name of the Premier League is now the “TASE League.” As part of the agreement, TASE and the IPFL will engage collaborations, including the new financial coaching program that is offered to the players free of charge.

“We are committed to strengthening TASE’s ties with the public and increasing the public’s involvement and participation in the success of the Israeli economy through the capital market,” said Ittai Ben Zeev, the CEO of TASE. “By acquiring financial knowhow and tools, the football players will be better equipped to secure financial stability and wellbeing after their retirement. We believe that the financial coaching program will be valuable to the footballers and conducive to the connection between the Israeli sports and the capital market.”

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