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By Chris Broadfoot
THE WELCOME
Thanks for opening this one, and for the replies to last week's edition. I read every one. This week is about something most contracts never mention: what a five-year deal looks like once you add up every currency it can touch. There's also a quick look at a huge week for central banks, starting with Australian inflation figures out today.
THE MAIN STORY
Five more years in euros: a long-term currency plan
Sydney-born Socceroo Cristian Volpato, 22, has extended his contract with Serie A club Sassuolo to June 2031. The club announced the deal on 21 October, as football360 reported.
His salary isn't public, and I won't guess at it. What we do know is that Serie A clubs pay in euros. For an Australian, that's five more years of income in one currency, while home, family and plenty of future plans sit in another.
A deal like this is rarely just one salary. Over five years, a young player in this position could end up with several moving parts. These are possibilities for any player in a similar spot, not facts about Cristian:
A salary paid in euros, every month, for five years.
Property or investments down the track, in Italy, in Australia, or both.
National team money, some of which can be paid in US dollars.
Endorsements, possibly split between Italy and Australia.
That could add up to three or four currencies to manage over five years, starting in your early twenties.
What five years of EUR/AUD looks like
Take an illustrative salary of €500,000 a year. Here's the gap, in Australian dollars, between converting at the best and the worst point of each of the last five years:
Year | Gap on €500,000 a year (illustrative) |
|---|---|
2021 | A$59,200 |
2022 | A$97,000 |
2023 | A$90,400 |
2024 | A$60,800 |
2025 | A$109,900 |
Same salary, same club. In 2025 the gap between the best and worst point of the year was about A$109,900, and in none of the five years was it under about A$59,000. Nobody converts everything at the very best or very worst point, but over a five-year deal the timing of each conversion adds up.
Illustrative maths only, not a forecast or advice. €500,000 is an example figure, not a reported salary. Gap = €500,000 converted at each calendar year's EUR/AUD intraday high minus at its low, TradingView FX_IDC daily data, 2021 to 2025. Rounded to the nearest 100. Sources: football360, U.S. Sassuolo Calcio.
Our approach
How I'd think about a long deal with this many moving parts:
First, map every currency. What comes in, in which currency, and what needs paying where.
Second, use multi-currency accounts, so you can receive, hold, convert and pay at the best time, and only convert what's actually needed. Money for life in Italy can stay in euros.
Third, for known Australian dollar needs, like support for family at home or a future property deposit, decide how much to convert and when, rather than converting each pay the day it lands.
Fourth, look at the plan again each year. Over five years, contracts, endorsements and plans will change.
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Harry Kane: a big move that paid off
Harry Kane has won the 2026 Ballon d'Or, presented at a ceremony in London on 26 October. He's the first English player to win it since Michael Owen in 2001, as BBC Sport and ESPN reported.
Last season he scored 61 goals in 51 matches for Bayern Munich, the most any Bayern player has scored in one season. Including England, it was 73 goals. Since leaving Tottenham for Germany, he has won two Bundesliga titles, including the German double last season.
Kane has always come across as a quiet, hard-working professional. Leaving the club and the league he knew, and starting again in a new country, was a big risk. The results speak for themselves.
It's something I relate to. In April 2025, Cindy and I sold everything we owned and moved from Australia to Thailand. We spent about 16 months there, and now we live in Georgia, growing the business for better outcomes for our family.
Moving overseas, away from everything you know, is a big risk with a big potential reward. I've done it myself, and I've also interviewed over 25 athletes who did the same on The Overseas Athlete podcast. A new country can be tough: a different language, different customs, and it can take a long time to feel settled. The ones who make it work back themselves through that hard first stretch.
BEFORE YOU SIGN
Build the team before the money arrives
With this many moving parts, one of the best things a young athlete and their family can do is get a good financial team in place early. That might be someone for currency and payments, someone for tax in each country, someone for contracts, and someone for investments or property.
Get two or three recommendations for each, rather than going with the first name you hear. And ask questions, even ones that feel basic:
How are you paid?
Who else do you work with?
What happens if something goes wrong?
How will you work with the rest of my team?
The right people will be happy to explain. If you want to know what a contract is worth in Australian dollars, or how to plan around more than one currency, that's what I do. Book a 15-minute chat
General information, not legal, tax, financial or investment advice.
MONEY MOVES
A huge week for central banks
This is one of the biggest weeks of the year for central banks. All times are Tbilisi time (UTC+4):
Wednesday 28 October: Australia's September inflation (CPI) figures at 04:30, the Reserve Bank of New Zealand at 05:00, the Bank of Canada at 17:45 and the US Federal Reserve at 22:00. The UK Budget is also on Wednesday, from about 16:30.
Thursday 29 October: the European Central Bank at 17:15.
Friday 30 October: the Bank of Japan, usually around midday Tokyo time (about 07:00 Tbilisi).
Why it matters if you're Australian and paid in US dollars, euros or pounds: each of these can move the Australian dollar against the currency your pay arrives in. In a week like this, the rate you convert at can change quickly, so it's worth knowing when these land before you move a large amount.
The RBA meets next, on Tuesday 3 November.
General information, not a forecast or advice. Dates and times from the central banks' published schedules, the ABS release calendar and UK Parliament.
FROM THE POD
Cameron Crestani: from NPL Queensland to Norway
Cameron's full story is Episode 13 of The Overseas Athlete: the Friday-night call, artificial pitches, a full-time job around football, and the midnight sun. The money and paperwork part starts at about 51 minutes. Watch Episode 13 on YouTube
The Athlete Newsletter is written by Chris Broadfoot, founder of SportsFX, the currency and payments partner for professional sport. If moving money between countries is part of your career, book a 15-minute chat with me below.
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