Netball SA to provide financial advice to World Cup players
Netball South Africa (NSA) will provide players with professional financial advice to ensure that they don’t squander the bonuses they are going to receive for finishing fourth at the World Cup.
The players are guaranteed a share of R1.2 million from team sponsors Spar‚ R200‚000 each from Telkom‚ R90‚000 each from NSA and their financial windfall comes close to R400‚000.
“Obviously Khanyisa [Chawane] has never seen R20‚000 with her eyes and now she is going to have R400‚000 in her bank account‚” said NSA president Cecilia Molokwane about the 23-year old wing defence who was also the youngest member of the Proteas squad at the World Cup.
“We have already given them R90‚000 and they are going to get comes close to about R400‚000 for each player and someone like Khanyisa has never seen that type of money. She is still a student and we need to give her and other players expert financial advice to make sure they use their money wisely.”
“Khanyisa is an orphan‚ somebody needs to guide her about money and recently she lost her grandmother. This amount is going to scare her and if it means we must pay for those advisers we will do that because it will be for the good of the players.
“They must know that it is not about using the money but it is also about saving it for the future because in any sport there is no guarantee. We have to make them understand this money will help them in the future.”
The players’ bonuses may increase significantly because there is a possibility of more money coming from Minister of Sport Nathi Mthethwa through the government’s excellence recognition programme.
“We are going to have a ministers and members of executive councils (Minmec) meeting in a matter of a week or so and we will look into what we have‚ particularly from the excellence recognition programme of the department‚” Mthethwa said.
Excited Proteas captain Bongi Msomi‚ who welcomed the reward they are going to receive from their sponsors‚ admitted that they were disappointed for failing to bring back home a medal.
“We were hoping for at least a medal. It is sad that we did not do that but I am proud of the team that was in Liverpool‚” she said.
“It was a tough tournament and it takes guts to play back-to-back matches. To be able to play matches in quick succession needs you to be mentally and physically fit.
“People don’t put that into consideration when they are watching the match – they only expect us to win.”
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