Investec Private Bank, part of South African banking group Investec, is to launch a specialist lending service for sports, music and entertainment stars, according to the Times of London. The money will be borrowed against a range of assets owned by these sports and entertainment clients.

Loans would be in excess of £2 million, structured around future rights to cash-flows earned by the clients. Over the past five years, Investec has provided loans of about £250 million to sporting corporations, including Premiership football and rugby clubs.

Demand from individual stars has led the bank to pilot this specialist service.

Investec Private Bank already offers specialist lending facilities to company directors and recipients of large share bonuses, enabling the latter group to convert share options into cash, for example.