In November 2023, former Chelsea midfielder John Mikel Obi discussed the financial burdens faced by multimillionaire footballers, especially those from Africa, in a conversation with former England international Rio Ferdinand on his Vibe with Five podcast. Obi highlighted the pressure on African players to financially support their relatives, often to the detriment of their own financial stability.
The concept of “Black Tax” was at the center of Obi’s discussion, referring to the financial demands placed on higher-earning individuals by their families. This issue, often kept private, has been detrimental to many former professional footballers, leading to financial struggles after their careers end. Examples of players from across the African continent were cited to highlight the prevalence of this issue.
Emmanuel Adebayor, a former Togo international, shared his experiences dealing with the demands of his family members, drawing attention to the emotional toll and financial strain it has caused. Adebayor emphasized the need for footballers to prioritize their own financial well-being and seek proper financial advice to ensure long-term stability after retirement from the sport.
Aside from the challenges posed by “Black Tax,” the lack of financial literacy and retirement planning in African football has also been highlighted as contributing factors to the struggles faced by former players. Adebayor’s success in achieving financial stability after his playing career has been attributed to a change in lifestyle and prudent financial management.
Despite the obstacles, experts stress the importance of preparing for life after football and seeking education and advice to ensure financial security. While some former players have found employment in other fields and achieved financial comfort, the prevalence of “Black Tax” remains a significant challenge that requires greater awareness and support within the African football community.