A reportedly 40% of football players now go bankrupt. We've discovered why and how you can use this information to help you avoid the same financial mistakes. Almost every week the same story hits the press – a mega-rich celebrity, musician or premiership footballer has declared bankruptcy. Belgian club Lokeren face going out of business after failing to find an investor to help them avoid the threat of bankruptcy. You can apply to make yourself bankrupt if you cannot pay your debts. Check if there are other ways you can deal with your debts before you apply for bankruptcy. Your application will be looked at.
Related videosBankruptcy in the UK
Finishing his footballing career in the depths of Iceland may not have been the smartest move, but former Liverpool goalkeeper David James saw his illustrious career literally stop short. In , James needed the funds in order to settle a costly divorce and later filed for insolvency this year.
At the peak of his powers, former left back John Arne Riise was bombing down the channels for Liverpool not to mention Fulham. However, this did not stop the former Merseysider from ending up in court.
He made more than 60 appearances for the Toon Army and appeared for the Blues on several occasions. However this did not stop the Nigerian international from a court order being made in Croydon. Another ex-Manchester United man makes it onto the list and this time it is former midfield ace Eric Djemba-Djemba. The Cameroon international managed to break into the United team but was soon sent on his way after a string of unsuccessful performances.
After some time in the footballing wilderness, Djemba-Djemba ended up this year at lowly Scottish side St. Another popular striker who ended up in financial strife is former Wimbledon and Charlton striker Jason Euell. The Ex Addick simply had no choice after becoming a fraud victim. Now in his mid 30's Euell discovered that a property company had been forging his signature and had gone down the drain. After discovering a wide variety of financial discrepancies, Kingston-upon-Thames County Court heard the whole scenario play out where Euell had to file for insolvency.
Born in , Carl Cort was a promising striker for Wimbledon before embarking on a big money transfer to Newcastle United. After playing to an adoring crowd at St. James Park of over 50, fans, Cort eventually moved on to several clubs. However, this did not stop the Guyanese player from having to put in a bankruptcy order later on in his career. A footballer's path can be a rocky one, none more so than former Chelsea and Stoke City player Alan Hudson.
Now long retired from the beautiful game he once loved, Hudson cuts a forlorn figure. Most people would be enjoying retirement but Hudson has been homeless in the last few years. One of the all-time Arsenal greats, Paul Merson enjoyed a once glittering career playing for the Gunners. Part of the title winning team under George Graham, he then had a brief spell at Aston Villa towards the end of his career.
This is coupled with having to sell off his property in the West Midlands and divorce settlements. This at one time left Merson almost on the streets but he has recently enjoyed a renaissance as an after dinner speaker and television pundit.
Iconic American goalkeeper Brad Friedel was one of the best no. Yet, in , Friedel had actually been declared completely bankrupt back in the United States. But after retiring from the game in after numerous injuries, he turned his attention elsewhere.
Rufus set out on an altogether different path, becoming a financial consultant. Green Party. Boris Johnson. Jeremy Corbyn. US Politics. Help The Hungry. Shappi Khorsandi. Mary Dejevsky. Robert Fisk. Mark Steel. Janet Street-Porter. John Rentoul.
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