Sanchez Vicario says $60M in career winnings gone

[joeybee12]

MADRID (AP)—Former tennis star Arantxa Sanchez Vicario said in a book published Tuesday that her parents lost an estimated $60 million in career earnings through mismanagement.

The 40-year-old Sanchez Vicario said her parents were obsessed with her tennis career and controlled most aspects of it. She said she’s estranged from her parents and brothers Emilio and Javier, former tennis players.

The four-time Grand Slam singles champion said she got a monthly payment from her father and trusted him to invest the rest.

“I never doubted that my father would manage my assets in the most efficient and beneficial way,” she wrote.

She retired in 2002, and after “breaking free” of her parents’ influence, “the surprise came. Then, the disappointment. The surprise of finding myself without resources after a career full of successes and therefore winnings.”

http://sports.yahoo.com/tennis/news?slug=ap-sanchezvicario-book

Mom says she devastated by the accusations...doesn't address the validity of them, though.

[hughee99]

1. I think $60 million in career earnings sounds way too high,

If I understand correctly, Steffi Graf only made about $21 million on the court.

It's sad when parents get the idea that just because they produced a child who makes a lot of money, it means they must be financial experts.

[marmar]

2. Maybe she's including endorsements and other non-prize money earnings....

Because according to the WTA, she's 10th on the career prize money list with $16.9 million.


http://www.wtatennis.com/SEWTATour-Archive/Rankings_Stats/Career_Prize_Money_Top_100.pdf

[joeybee12]

3. That's what I think also...

That's where the real money is. And look at the difference in the generations...Chris is way down there...18 grand slams 150+ titles and only about 8 million.

[hughee99]

4. It would have to be, and/or

lost income assuming some reasonable fixed rate of return.

[TBF]

5. If she's claiming that she has probably filed a law suit against them

and that would make sense to include lost income calculations.

[Elric]

6. She wouldn't be the first nor the last child used as a cash cow by parents unfortunately