April 22 – The Bulgarian Football Union (BFU) has signed a tripartite agreement with the Junior Achievement Bulgaria Foundation (JA) and the Association for Production, Storage and Trading of Electricity (APSTE) to increase the financial literacy and entrepreneurial skills of junior and youth national football teams.
The pilot project envisages a series of training courses that will help young football players successfully cope with the challenges of professional sport and help them prepare for sustainable lives after football.
Participants will acquire practical knowledge about budgeting, saving, investing, starting business initiatives and managing projects in the field of sports. Prominent professionals from business and sports will also be involved in the training process, who will motivate adolescents with their personal stories.
It comes after APSTE shared worrying statistics revealing that a large number of football players in Bulgaria go bankrupt after their football careers.
“The development of our young talents is a top priority for the Bulgarian Football Union,” BFU Executive Director Andrey Petrov said. “In addition to sports training, we want to provide them with the opportunity to acquire skills and confidence for a fulfilling life during their professional career and beyond.”
The pilot project has already started, with the first training sessions for the U16 and U17 teams taking place on April 6 and 7 at the Boyana National Football Base. They included interactive exercises, real-life cases and discussions aimed at achieving practical results and encouraging critical thinking. The program will gradually cover all age groups in the junior and youth national teams.
“Entrepreneurship and financial literacy are of key importance for every young person in the modern world,” Milena Stoycheva, Executive Director of Junior Achievement Bulgaria, explained. “We believe that this pilot project will become an example for many other initiatives that will help young people to get on a solid and sustainable foundation for personal and professional growth.”
The planned training will be held during national camps as well as through additional practical modules and digital educational tools. The partners are convinced that the acquired knowledge will support the effective management of sports careers and will create long-term value for the participants after the end of their active competitive activities.
“Financial literacy training should be available to all young people in Bulgaria,” added the chairman of APSTE Nikola Gazdov. “We are working to improve the business environment and are happy to be able to partner with the BFU and JA.
“Football instils discipline, team spirit and perseverance – qualities that are also extremely important for successful entrepreneurship. We work with young people because they are at an age when they are still developing. First, we help them manage their personal finances and second, we offer them a plan “B” if their career is interrupted for any reason.
“The career of professionals in this sport is relatively short. Not everyone is like Ronaldo and Modric, playing until they are 40 years old. The average career duration is 8 years. 20 percent end it by the age of 24, and 50% – by the age of 29. Over 40% go bankrupt within five years of ending their career.
“Young people need to understand what a budget is, develop and be responsible towards their loved ones and family budget. This will help them after the sport is over. This pilot project is just the beginning. We want to convince that professional clubs should also adapt the program.”
In the coming months, the project will continue with additional educational modules, as well as mentoring meetings with established Bulgarian entrepreneurs who will share with the young talents their personal stories in sports and business.
The joint work of the BFU, APSTE and Junior Achievement is an important step in the process of transformation of Bulgarian football, providing an integrated approach to the personal and professional development of young talents.
Contact the write of this story, Alexander Krassimirov, at moc.l1745472810labto1745472810ofdlr1745472810owedi1745472810sni@o1745472810fni1745472810