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The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

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The true cost of being cancelled: Stars face financial ruin after being embroiled in scandal – but who has a buffer of cash and assets to fall back on if they never work again?

Cancel culture is now so virulent and dangerous that stars are even buying insurance to protect themselves from financial and reputational ruin.

And no wonder, because MailOnline can today reveal how stars such as Phillip Schofield are losing millions each year after being sent into the celebrity wilderness.

One star whose work has dried up amid allegations of sexual impropriety claims to be £10million worse off – with just £320 left in one business, down from £432,583.

Exclusive analysis of publicly-available company accounts reveal how stars’ earnings have fallen off a cliff since leaving the public eye due to various scandals.

Mr Schofield’s long career means that while his gigantic earnings from This Morning, Dancing on Ice and advertising deals have vanished, he still enjoys the cushion of millions of pounds in cash and assets including several properties.

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Gino D’Acampo has built up a nest egg of around £6million from his ITV work and book deals over the past five years – but with no new shows on the way his earnings will take a hit of around £1million-a-year if the work runs out.

And for fallen stars like Gregg Wallace and Wynne Evans, their financial future could be bleak unless they can get their own careers back on track, especially without the comfort blanket of a BBC salary.

Noel Clarke, who was cancelled in 2021 and is fighting for his reputation in the High Court in a high-profile libel case with The Guardian newspaper, faces near-complete financial ruin if he loses the case.

Phillip Schofield is losing an estimated £1.4 million-a-year since quitting his job as This Morning presenter in June 2023.

The star, 62, left the show having admitted to having an affair with a junior colleague and then quit ITV altogether, leaving behind a host of well-paid presenting gigs.

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He was earning £730,000 for the This Morning presenter role with Holly Willoughby but also picked up a reported £45,000 an episode for Dancing on Ice, which runs for 10 episodes per year.

Presenting other shows like British Soap Awards, BBC game show The Cube, and an ITV series called How To Spend It Well all added to his lucrative annual earnings.

Away from the screen, Schofield has built up a cache of valuable assets, including properties.

Schofield admitted to a relationship with a much younger male colleague (pictured centre) and having lied about it to bosses – as well as his loved ones

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Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters - Molly is his publicist

Phillip and Stephanie Lowe married in 1993 and raised two daughters, Molly, right, and Ruby, left. His daughters are also huge supporters – Molly is his publicist

He sold a flat he was said to have used to entertain his lover for £1million last year, making a loss of £250,000 on what he paid for it.

He also owns a mansion in Henley-on-Thames outright, which is thought to be worth at least £5million.

In 2020 he picked up £1.2million for a book deal for his autobiography Life’s What You Make It.

Accounts for his two companies show they had assets of £3million in May 2023, soon after he quit This Morning. 

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Fistral Productions, for his TV work, held £2.137million in the year he quit This Morning. His wife Stephanie Schofield is listed as a co-director.

He also has a company called Fistral Property, with assets of £900,000. Mrs Schofield is also a co-director.

Potential loss: £1.4 million-a-year 

Gino D’Acampo 

Gino D’Acampo has seen the value of his company rocket by an average of £979,000-a-year for the last five years and is now worth just under £6million.

But it means he could now stand to lose £1 million a year – or potentially more – if his career had continued to blossom at the same rate.

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He lives in a £1.25million house in Hertfordshire, with wife Jessica, who is a director of his companies and the mother of his three children.

In February, ITV pulled all Gino D’Acampo’s shows from its upcoming schedules.

The TV chef, 48, has been accused of ‘sexually inappropriate’ behaviour spanning 12 years while filming his hit food and travel programmes. He denies the claims.

Mr D’Acampo has faced accusations including using sexualised and aggressive language on TV sets including ‘Gino’s Italian Express’, ‘Gordon, Gino and Fred’s Road Trip’ ‘Gino’s Italy: Secrets of South’, ‘Like Mamma Used to Make’ and ‘Emission Impossible’. 

ITV then changed its schedules to ensure he will not appear on our screens. But many of his shows remain available on its ITVX streaming service. 

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The new series of Family Fortunes, the iconic family gameshow hosted by Gino, was due for broadcast in early 2025 but has also been canned by ITV. 

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

Gino is the host of Family Fortunes. Episodes have been pulled and the new series canned

The Italian star (centre), 48, who regularly appeared on ITV's This Morning (pictured) when Schofield was a co-host, has been 'cancelled' following multiple allegations of sexually inappropriate and intimidating behaviour

Gino D’Acampo, pictured with Holly Willoughby and Phillip Schofield, honours his promise to cook naked on This Morning if they won at the 2011 NTA Awards. Gino has become known for stripping off on screen

Gino D'ACampo and wife Jessica

Gino D’ACampo and wife Jessica

Gino ‘said and did whatever he wanted’ while working for ITV – as his alleged victims insisted they were ‘too afraid’ to make complaints at the time. 

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Sources told MailOnline that ITV began to ease out Gino in the wake of the scandal that engulfed the BBC over MasterChef’s Gregg Wallace, especially after Phillip Schofield’s bitter exit from This Morning.

But amid questions about why they didn’t raise incidents spanning 12 years, most of the women told ITV News they were ‘too afraid’ to make complaints about D’Acampo because they were self-employed and feared being ostracised in TV.

After a bumper few years, Gino’s company has seen its value increase by between £500,000 and £2.06million each year between 2019 and 2024. 

It currently has £2million in cash in the bank. The company is now worth £4.9million.

MailOnline estimates that his total net worth is £5.7million.

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Potential loss: £979,000-a-year

Gregg Wallace 

Gregg Wallace had been earning an estimated £400,000-a-year from his Masterchef role, which, as is suspected, will now be lost if he does not return to TV.

The former MasterChef host, 60, stepped down from hosting the BBC show with Jon Torode in November after multiple complaints of inappropriate behaviour on set.

Before his big break, the star used all his Cockney charms to create an appealing TV persona – ‘the fat, bald bloke off the telly who likes pudding’, as he once styled himself.

But he initially made his living as a greengrocer, although market traders he once worked alongside have claimed they were the ones left counting the cost of his success. 

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With his six-figure BBC salary on hold, Gregg has a separate fitness business on the side called Showme.fit which is currently worth £108,663. 

There is also a new health and food business, whose accounts are not yet available.

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Ex-MasterChef judge Gregg Wallace was spotted for the first time in February after not being out in public since November 28, 2024

Wallace co-hosted Masterchef for 17 years alongside John Torode (left)

Wallace co-hosted Masterchef for 17 years alongside John Torode (left) 

But he stepped back amid an investigation into his conduct over a period of 17 years

But he stepped back amid an investigation into his conduct over a period of 17 years

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He also has £32,000 held in his company Lobster Enterprises Ltd, where his TV money is paid into.

George Allan’s Greengrocers, the company Wallace founded in 1989, was built into a business with a £7.5million turnover.

But last year a former manager claimed Gregg left behind £1.5 million in debt – and a host of disgruntled ex-colleagues – when the firm went under in 2000. 

In his 2012 autobiography, Life on a Plate, Wallace acknowledged: ‘We were owed millions and we owed millions to wholesalers in the market’.

He also described how he ‘didn’t have to pick up all the bills personally’ after Gregg Allan’s failed, since it was a limited company, and hit back at the idea that fame had resulted in a loss of focus on his part.

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‘Many of the traders had joined forces and said they refused to employ me,’ wrote Wallace. 

‘It wasn’t fair but they blamed me for George Allan’s closure. They thought I’d got too fancy and big for my boots, being on telly now, and I let it all go to pot.

‘Nothing could’ve been further from the truth, though. It’s always the way: the last one out to turn off the lights, gets the blame.’

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

Gregg founded George Allan’s Greengrocers in 1989 and built the company into a business with a £7.5 million turnover

In 2014 Gregg was forced to close his Wallace and Co restaurant in Putney, South West London and sell its parent company Wallace Cafes.

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Since then he has relied on his £400,000-a-year MasterChef salary, which is now hanging in the balance.

Much of the earning pressure is now on his ShowMe.Fit app, which he advertises using his popular Instagram account. But it emerged last year that he borrowed £70,000 to keep it going.

It is currently worth £108,663, according to the accounts.

Lobster Enterprises Ltd, where his TV cash is paid into, paid tax suggesting it made a £400,000 profit. But it is worth £32,000, according to the latest accounts.

The shamed Masterchef star, 60, also set up Gregg Wallace.Health after he himself shed five stone, with the business offering recipes, advice from experts and frozen ready deliveries.

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The website reads: ‘Ready to transform your health and feel your best? – no risks, just results. Cancel anytime’.

However in recent weeks fans who signed up have furiously taken to review bible Trustpilot and claimed they are being incorrectly charged and are struggling to get their money back.

One customer fumed: ‘What a scam. I cancelled my membership when they changed apps. However [it] managed to do an auto renewal of my membership and deducted an annual subscription for a non functioning App. Getting no reply on their email for a refund. Customer service terrible and would not recommend them’.

Potential loss: £400,000-a-year 

Noel Clarke 

Noel Clarke said that his work completely dried up the moment The Guardian story about his alleged sexually inappropriate behaviour was published.

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In court papers he has detailed more than £10million in lost earnings since the article in April 2021.

One company he still runs called Astonishing Entertainment Limited, had assets of £432,583 in the 12 months up to the end of March 2021, when the allegation was made.

The same company now has just £320 according to the most recent accounts which cover the 12 months to the end of March 2024.

His company Unstoppable Film and Television Limited was bought by powerful TV production company ALL 3 Media, which was behind Fleabag, in 2018, but Clarke and business partner Jason Maza stood down in August 2021 after the Guardian claims were published. 

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

Noel Clarke arrives at the Royal Courts of Justice this week for his libel case against The Guardian

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The company had assets of £3.3million in the months before the bombshell newspaper claims.

In court papers Clarke catalogued the earnings he was losing as a consequence of being cancelled.

They were a Sky TV show Bulletproof, series 4, where he lost his fee for acting in 10 episodes – £585,000, his fee for writing two episodes – £90,000 – his fee for directing two episodes – £90,000 – and anticipated royalties of £250,000.

The Guardian article came out midway through an ITV series Viewpoint which was immediately taken off the air.

But a second series had already been commissioned meaning he lost his fee – £270,000, anticipated royalties of an estimated £200,000.

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Advanced plans for a Channel 5 TV show Highwater which would have begun shooting in winter 2021 meant he lost a producer bonus – in the region of £60,000.

A BBC TV show called Crongton was ‘greenlit’ was ditched and meant he would not get a producer bonus – in the region of £60,000.

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Clarke is known for his role in Doctor Who as Mickey. He is pictured here alongside Billie Piper who played Rose Tyler

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

Noel Clarke pictured as DC Martin Young in the ITV Series Viewpoint

A StudioCanal movie Something in the Water would have earned him a producer bonus in the region of £40,000.

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He would also have earned a minimum salary from his ex production company Unstoppable Film and Television of £1.25million over 10 years not including raises or bonuses.

He also said the projected approximate value of shares in Unstoppable Film and Television, which he says has now been ‘wiped out’, would have been £7million.

Potential loss: £10million 

Wynne Evans

Wynne Evans has almost £1million in cash and assets sitting in the bank, his latest accounts reveal.

But he has had to step away from the public eye after making a lewd joke that saw him have to leave the lucrative Strictly Come Dancing tour this year. 

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Evans, 53, who made a sick sexual comment about dancer and broadcaster Janette Manrara, has also been replaced in his BBC Radio Wales show. 

Wynne Evans Ltd handles the majority of his media earnings, including his Go Compare commercial work.

GoCompare has repeatedly refused to say whether they are going to sack Wynne from his role, which is believed to worth at least £200,000-a-year. 

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

Wynne Evans is said to earn £200,000-a-year as the face of Go Compare

The Go Compare star reportedly believes his reputation has been unfairly left 'in tatters' after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour's press launch

The Go Compare star reportedly believes his reputation has been unfairly left ‘in tatters’ after he apologised for a vile remark aimed at tour host Janette Manrara, when footage emerged of the comment at the tour’s press launch

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Accounts for year to end of May 2024, filed in February show he has cash and assets of £734,830 – down from £761,798 the year before. 

He paid £12,186 in tax.

It does not include what he was paid to be on Strictly and its live tour before he was forced to walk away from.

He owns a flat in Croydon bought for £198,000 in 2014. It is now worth an estimated £288,000. 

His ex-wife Tanwen Evans owns a home in Cardiff bought for £465,000 in 2013, now worth £875,000.

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He has a management company which manages the flat in Croydon but it is dormant.

But he disbanded another company seven years ago and he is one of many director-board members of a Opera theatre called Grange Park Opera in West Horsley.

When the Go Compare and Strictly star discussed the house he moved into after his divorce he described it as ‘sad and derelict’, backing onto busy a railway track and saying it cost £500,000 to make it fit to live in.

Back in January, the opera singer, 53, stepped down from the Strictly Come Dancing live tour after coming under fire for making a vile remark aimed at host Janette Manrara [pictured with Katya Jones]

Wynne Evans ‘ lawyers have reportedly compiled a 30-page dossier to take to showdown talks with the BBC as he fights to keep his beloved radio job

Wynne previously revealed he hit 'rock bottom' at the end of his marriage to Welsh violinist Tanwen (seen together in 2011)

Wynne previously revealed he hit ‘rock bottom’ at the end of his marriage to Welsh violinist Tanwen (seen together in 2011) 

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But pictures unearthed by MailOnline revealed that the stunning Edwardian villa was apparently in immaculate condition, with well presented rooms and gardens, packed with period features and in good condition.

And at more than £700,000 it was more than four times the then average property price for Cardiff.

In a recent interview discussing his 2015 divorce, the opera singer was bemoaning the state of the house in Cardiff which he bought after splitting from Tanwen and moving away from his two children.

He claimed the five-bedroomed house was ‘all he could afford’ and said he had spent £500,000 on improvements.

The house with three bathrooms in the leafy area was described at the time he bought it, in 2016, was certainly dated, and needed some modernising, but according to Evans it had ‘boarded-up windows’ and his then teenage children had to sleep in tents in their bedrooms during early visits. 

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Potential loss: At least £200,000-a-year 

Finance

Local M&A advisory firm Matrix acquired by banking giant Citizens Financial – Richmond BizSense

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Local M&A advisory firm Matrix acquired by banking giant Citizens Financial – Richmond BizSense

Matri x Capital Markets Group is now a division of Citizens Financial Group. (Image Courtesy Citizens Financial Group)

Matrix Capital Markets Group is used to helping businesses line up mergers and acquisitions.

For its latest transaction, the Richmond-based M&A advisory and investment banking firm was itself the subject of the deal.

Matrix was acquired last week by Rhode Island-based banking giant Citizens Financial Group.

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Matrix, along with its nearly three dozen employees, including 20 in Richmond, are now operating as a division of Citizens, within the $226 billion bank’s investment banking arm, Citizens JMP Securities.

Financial terms of the deal were not disclosed. It involved an asset purchase that bought out Matrix’s 15 shareholders.

The deal ends Matrix’s 38-year run as an independent firm, a notable streak in an industry where consolidation of smaller firms into larger ones is common.

Matrix was founded in Richmond in 1988 by Scott Frayser and Jeff Moore and has since hit its stride by building a niche in handling deals for companies in the downstream energy and convenience retail sector.

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The firm has been run in recent years by president Spencer Cavalier and Cedric Fortemps, co-head of the firm’s largest investment banking team.

Fortemps said Matrix began to search for a larger acquirer last year.

Cedric Fortemps

Cedric Fortemps

“The board decided to see if we could find a partner and a transaction that could build on what we’ve built thus far,” Fortemps said.

Matrix enlisted investment banking firm Houlihan Lokey to help in the search and negotiate on its behalf, along with the law firm Calfee as its legal advisor.

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Fortemps said Citizen rose to the top of the pack of suitors in part due to JMP Securities’ track record of acquiring smaller firms like Matrix.

“They have acquired four other firms very similar to ours. Seeing the successes they had with those groups… the playbook is really to let the firms continue to operate the way they had,” Fortemps said.

Matrix’s Richmond office in the Gateway Plaza building downtown will continue to operate, as will its second office in Baltimore.

The Matrix brand will continue to be used for the time being but will eventually be phased out.

Fortemps said the firm’s success and particularly its growth in recent years has been fueled by its expertise in working deals for downstream energy clients – such as wholesale fuels distributors, propane and heating oil distributors – and convenience store and gas station chains.

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Matrix’s rise in that sector began in 1997, when it hired Tom Kelso, who lived in Baltimore and owned a heating oil fuels distribution business. Kelso, who would eventually serve as the firm’s president prior to Cavalier, had a vision to launch an M&A firm for that industry.

“It took seven to eight years to grow it but eventually we were able to get a reputation of really high quality work and those successes on smaller transactions resulted in us being considered for larger deals,” Fortemps said.

Today, 21of the firm’s 26 investment bankers work on the team that handles deals for those industries. It controls about 40% market share for the M&A market for those sectors, Fortemps said.

The firm closes nearly two dozen transactions a year over the last five years and has closed 500 deals since its inception.

The typical value of its deals is more than $20 million, though the transactions it has closed over the last three years in the energy and convenience retail sectors have grown to $140 million per deal, Matrix said.

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Its largest deal to date was closed last year, involving the $1.6 billion acquisition of convenience store chain Giant Eagle.

Matrix also works deals in other industries such as lubricants distribution, automotive after-market suppliers and car washes, as well as outdoor recreation and the marine industry.

After decades of representing buyers and sellers in M&A, Fortemps said the Citizens deal was a new experience for the Matrix team: being the target of the transaction, rather than the ones facilitating it.

“It certainly made me appreciate everything our clients have to go through on the other side of the table,” he said.

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Deutsche Bank’s Expanding Sports Finance Strategy

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Deutsche Bank’s Expanding Sports Finance Strategy

As the business side of team sports, such as football, becomes larger and more complex, the opportunities for banks to provide financing solutions for the individuals and institutions involved proliferate. At Deutsche Bank’s private bank, it sees considerable opportunities ahead.


With American and other non-UK investors/owners buying into UK
football teams, it has highlighted that handling the
financial side of sports is now a distinct asset class that even
those uninterested in sports should consider.

Deutsche Bank’s private banking arm certainly considers sports
finance a sufficiently large area to warrant a specialist
offering, as announced
a few days ago. The business focuses on Europe and the
US. 

The financing business is led by Arjun Nagarkatti, who is the
head of the private bank for the US and Europe international
business. Deutsche
Bank has appointed Sowmya Kotha in London and Joshua Frank in
New York, who report to Adam Russ, head of wealth management and
business lending.

“Sport can be a local passion project. However, it is becoming
more of a legitimate asset class. Even a non-sports person should
look at sports,” Nagarkatti told WealthBriefing in a
meeting at the German bank’s London offices in the City. “These
are big businesses and a lot of people still don’t know how big
they are.”

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Family offices/ultra HNW individuals are trying to take
a “more institutional” approach to transacting in sports
teams, he said. 

Setting up such a business feeds into the specialist lending and
financial advisory work that Deutsche has discussed
with this publication in recent months. (See
an example here – via Hong Kong.) This work uses the
combined private bank/investment banking connections where
private clients will also have operating business concerns.

The sports financing business shows that this area is not simply
a private banking niche. Rival Citigroup, for example,

spoke to this news service in 2025 about its work with
ultra-wealthy people wanting to buy, sell and run sports teams.
Our US correspondent recently wrote about opportunities for
wealth management arising from changes in college
sports.

The expanded capability at Deutsche on the sports side is
“significant for the bank,” Nagarkatti said. “It is a core focus
for us.”

UHNW sports owners/potential owners tend to be ideal clients –
they are internationally minded, want advice and guidance on
financial/personal wealth matters, he continued. “This is a big
opportunity for us and it is a consistent connection we have had
with clients, and we have been doing this for 10 to 15
years.”

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Deutsche is initially concentrating on the English Premier
League. As its US franchise has expanded, this has led to
financing across all four major US sports leagues: National
Football League; Major League Baseball; National Basketball
Association, and National Hockey League.

Mention of cross-border owners of clubs leads to potential owners
of, say, a UK football club needing to understand that when
they buy a team, they’re also buying into hopes and dreams.
Owners raise their heads above a parapet – not always a fun
experience.

“You become a public figure,” Nagarkatti said. 

One example that springs to mind is Sir Jim Ratcliffe, the
billionaire founder of INEOS, the chemical producer who took
a 27.7 per cent stake in Manchester United more than a year
ago. While well known in business circles before buying into the
“Red Devils” –


one of the most famous sports institutions in the world – his
profile has risen since, with every comment – controversial or
otherwise – analysed, not always kindly. 

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American owners of teams have to adjust to the risk, for example
when a football (soccer) team gets relegated, Nagarkatti
said. Anyone looking to own a club must understand risks,
including how their public profile, assuming they were very
private people, rises rapidly, and in ways that are not always
comfortable if a team has problems, he said. 

There is a need for realism.

“When you buy these top assets, you must spend time and work them
and increase their value. You must be prepared to invest time,
such as on the team, stadiums, facilities,” Nagarkatti said. “It
is like buying a hotel. You cannot just sit there and think it
will go up in value by 10 times.”


For the wealth management industry in general, the business of
sports teams, as well as the individual financial affairs of
sportsmen and women, has become a distinct – and large –
specialism. For example, the Rockefeller Global Family Office has
experts who look after athletes and entertainers. Other firms
that have expertise in and around sports include Carnegie Private
Wealth, for example, and Merrill Lynch Management. In the UK, the
private banking group Coutts has a sports, media and
entertainment division for its wealthy clients. Standard
Chartered, the UK-listed bank with a significant presence in
Asia, has launched a new alternative fund focused on sports for
ultra-high net worth and high net worth clients under its Global
Private Bank. Standard Chartered is a sponsor of Liverpool
FC. 


Deutsche Bank announced 2025 full-year and fourth-quarter
financial results here.

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Retired Aussies facing sad $60,000 superannuation reality impacting millions: ‘Very real’

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Retired Aussies facing sad ,000 superannuation reality impacting millions: ‘Very real’
Aussies are still facing a super gender gap, with women approaching retirement with thousands less than men. (Source: AAP/Getty)

Australians now need a record amount of superannuation to afford a comfortable retirement, and one group is still lagging significantly behind. Women are approaching retirement with tens of thousands of dollars less in superannuation than men, but there are moves that can be made now to help close the gap.

By the age of 40 to 44, men have a median super balance of $108,344, compared to women with $79,445 – a gap of nearly $30,000. This gap peaks in the 55 to 59 age range, where men have $202,584 on average and women $140,662 – a difference of more than $60,000.

AustralianSuper deputy chief executive and chief member officer Rose Kerlin told Yahoo Finance while we’ve seen some improvements over time, the super gender gap is “still very real” and becomes the most obvious as women approached retirement.

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“A big part of the gap comes down to caregiving and disparities in pay. When women take time out of the workforce or move into part-time roles to care for children or family members, their super takes a hit, and that impact compounds year after year,” she said.

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This gap is particularly worrying now that a single homeowner aged 67 needs a lump sum of $630,000, up from $595,000, to achieve a comfortable retirement. Couple homeowners need a balance of $730,000 in super, which is up from $690,000.

In contrast, the latest ATO data shows men at or approaching retirement at 60 to 64 have a median balance of $219,73, while women have $163,218.

The government has flagged reforms to help address the gap. Since July last year, superannuation has been paid on government parental leave payments.

From July next year, the Low Income Superannuation Tax Offset (LISTO) income threshold will increase from $37,000 to $45,000 to align with the top of the second income-tax bracket. The maximum LISTO payment will increase from $500 to $810.

While policy reform is important, Kerlin said there were also things women could do now to feel more on top of their super and more confident about where they’re headed.

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“Small actions today can help build greater confidence and security for the years ahead,” she said.

One action could be making additional contributions, even small ones, whenever possible, as this could make a big difference over time.

AustralianSuper’s modelling found that someone who made after-tax contributions of $600 annually between the ages of 35 to 39 and met the eligibility criteria for the government’s co-contribution of $300 each year could retire with $9,000 more.

Talking about super with your household is also important, and you could consider spouse contributions.

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If your spouse added $250 per month into your super account while you were on a seven-year career break to care for a child, AustralianSuper found you could end up with $44,000 more in retirement. Your spouse would also be eligible for a tax offset of $540 each of the seven years.

Aussies are also encouraged to check their super regularly, consolidate multiple super accounts to avoid duplicate fees, and use tools to plan ahead, see how their super is tracking and what their retirement might look like.

Super can be complex, so it can be worth getting trusted financial advice. Many super funds offer access to financial advice based on your goals, life stage and contribution options.

Get the latest Yahoo Finance news – follow us on Facebook, LinkedIn and Instagram.

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