Premier League pilot scheme success

A year on after being commissioned by the Premier League to conduct a pilot scheme on financial literacy, Red Star Education based in Blackpool can demonstrate some tremendous results.

A number of Premier League clubs undertook the trial which provides financial literacy education to help young academy scholars understand personal finance, and to assist them in taking responsibility for their financial future, whether that is in or out of football.

The scheme is aimed at Year 1 and Year 2 academy scholars (16 -18 years) and delivers many aspects of personal finance, including budgeting, tax, savings & investments, pensions, mortgages, management of debt, credit and credit cards. These are delivered through five 1-hour sessions on site at the academy.

Stoke City, one of the clubs involved in the pilot is delighted with the results and can see the incredible value it brings to their young scholars. Greg Briggs, Academy Head of Education from the club commented, “It’s essential that our youngsters have the confidence to take responsibility for their financial futures and the structured programme delivered by Red Star Education is both interactive and engaging.”

Success is assessed through a base line test to see how much scholars understand at the beginning of the course and feedback is then collected from them and the Head of Education at the end of the course. 98.25% of participants of the pilot said that the course was “effective” at meeting its aims.

Another club involved in the pilot is Sunderland AFC, who have found the scheme equally successful, with young academy scholars grasping the complexities of financial planning.

Don Peattie, head of education and welfare from Sunderland AFC, said: “We teach our youngsters a whole range of football skills, but it is also vital that they learn other life skills whilst in training, such as personal finance. We’ve found the Red Star Education team extremely approachable and knowledgeable, making our youngsters feel at ease and able to partake in discussions about finances. We hope this will help them as they go through their professional lives, whether that is in football or another career.”

With National Financial Literacy Month fast approaching in April, the Red Star Education team hope this important aspect will be highlighted significantly throughout the sporting world, and encourage more Premier League clubs and other football academies who are forward thinking, as well as other sporting academies outside of football to invest in the scheme.

Nick Cunliffe, director at Red Star Education, commented: “We think more football clubs will see the benefit of this type of education and how it aids the long-term wellbeing of their players. We hope that seeing the positive impact of financial planning on mental health and consequently performance on the pitch will encourage more clubs to invest in their young players in this way.”

Contact Nick Cunliffe on 01253 486346 or email [email protected] for further details or visit the website at www.redstareducation.co.uk