A LOCAL financial services company is teaming up with international golfer Nick Faldo. The Kraken Group has gone into partnership with Faldo Management to create a new and revolutionary sports-management firm.

‘This is great news for the group,’ said chief executive Karl Fowler.

‘We are delighted to be working with Nick, a player who has proved himself at the highest level, to try and create another golfing champion.’

In a move that was recently highlighted in the Sunday Times, Mr Faldo left IMG Sports Management to set up his own company.

It will provide young players with all the traditional services of a sports-management company but Mr Faldo will also give them coaching and mentoring.

The Kraken Group will provide the players with insurance, investment, tax and legal advice and services.

‘I am delighted to be partnering the Kraken Group given their vast experience and expertise in international finance and insurance and I look forward to developing a close working relationship with them,’ said Mr Faldo.

He is the first client of the new partnership but negotiations with other players continue.

Faldo Management has also signed up golfer Peter Lawrie, the 2003 Rookie of the Year, who ended last season with six top-20 finishes and earnings of nearly $500,000.

‘This deal gives me the freedom to get on and play golf, knowing that everything else is being taken care of by a team of experts.’

Mr Fowler added: ‘The aim is to provide a service that is more and better than existing providers.

‘We provide financial services from offshore and international locations while Nick provides the players with expert advice and coaching. We will have more-selective clients who get a higher-quality service.’

The Kraken Group is already involved in sports-management ventures and is seeking to exploit further opportunities in football, athletics and motor racing.