Sport earners to business stars

With a personal fortune valued at $271 million Greg Norman is one of the few sports stars to make the transition from sports earner to entrepreneur

Crafting one successful career is enough for most of us but crafting two is especially challenging, especially when they are in two fields as different as sports and business.

The transition from jersey to shirt and tie remains a hard one and most sports stars do not make it, choosing instead to remain in the sport they love as coaches, adviser or commentators.

Arguably, the most successful sports turned business star is Greg Norman. “The Shark” was ranked No. 1 in the Top 50 Sport Stars list back in 1997 (known as the Top 50 Australian Sport Earners back then) with $29.32 million and continued to dominate the list until 2009. Norman was removed from the list in 2010 to account for his growing commitment to business and reduced time on the greens.

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The professional golfer was valued at $271 million in this year’s Rich 200. The 56-year-old runs his various businesses under his company, Great White Shark Enterprises. His business ventures cover designing golf courses, property development and a clothing brand. It seems Norman’s aggressive golfing style has translated well into the boardroom.

Another golfer to have made a substantial sum of money from his business pursuits is Peter Senior who has been a stalwart on the list. Senior just made the list last year in 49th place with $1.1 million, having made much of his fortune as one of the founders of pawnbroking franchise Cash Converters. Senior sold his stake in the business later on to focus on his golfing.

Former rugby union and wallabies player George Gregan has also embraced the entrepreneurial spirit. Gregan was one of the rare rugby union players who made it on to the Sports Stars list, and now with his wife, Erica, he’s turned his attention to coffee as founder of GG Espresso.

Ex-South Sydney Rabbitohs player Brian Siemsen, a contender for this year’s Young Rich List, has also been successful in starting his own business. The Siemsen Group is a construction company that focuses on insurance repairs, and generated revenue of $34 million last year.

Although sport earners turned business stars are still the exception rather than the rule, these few have shown that there are positive qualities from sport stars that can be transferred into the running of a successful business.

The BRW Top Entertainers List will be released in our Rich Summer issue on December 15.

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