doesn't he work for epsn, so why bankrupt? i have seen him on tele lately quiet a lot, well when footie season was on.
Give someone millions of pounds a year, and they will live a millionaires lifestyle. Once they stop playing at the peak and/or retire, they still want to live the lifestyle they are used to, but the finances are no longer there.
As he'll have a mortgage the size of the national debt of Peru probably. His career earnings were apparently circa £20m, but he took a bath when he got divorced and he's no doubt spunked a wedge on crap 'business' ideas.
That's probably not far from the truth. Sad though to see anybody go bankrupt. It's a matter of culture but it always amazes me that in the UK a business fails, you go bankrupt and the banks turn their backs on you. In the US your business fails and you go bankrupt and the banks consider it almost as having learnt your initial lesson.
Yeah It'll probably be poor financial planning on his part. No thought for the future leaving him living beyond his means once retirement came and probably wasting it whilst he had it anyway. Speculation really... he could have got swindled by people using him for 'investment', but then he's obviously not likely to be in the chair on Dragons' Den anytime soon so should have found a decent accountant. Must be easy to get wrapped up and swept along in the lifestyle and want to keep living the high life when it's not feasible. He should be earning a mint from all the TV appearance though so he's possibly exceptionally thick.
Given they were lending fortunes to BillyBob the redneck who's default then sparked the World Wide recession, I'm not sure that their banking sector's underwriting strategies are necessarily the model to be followed though mate Albeit I do take your point,
what an f'n moron. he played long enough in a high paid era not to come to that. especially stupid given his kids and such. its pure greed 95% who've get handed say oh i dunno 10 mil net over a career wont try to turn it into 100mil. f sake IMO
Problem is most accountants look at a footballer and think "ka-ching". Very few will actually act in the best interests of the footballer if that's not also in the best interests of the accountant. And most footballers just let their agents handle it, hence being left with no money...
