Ten players that have lost most or all of their money after their careers ended.
Football can make a poor man rich and a rich man poor. It’s part of its allure as well as its peril, and there have been a number of big name stars that have lost vast fortunes at the drop of a hat. Below are just our top ten of tragic cases where players have been forced to declare themselves bankrupt or sell a number of their worldly possessions just to keep afloat.
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10. Carl Cort
The former Newcastle man failed to live up to expectations at St James’ Park and his decline saw him take in a number of lower division sides before escaping to the NASL in the United States in 2012. However, his lowest ebb came in 2010 when he was declared bankrupt.
9. Eric Djemba-Djemba
Once of Manchester United, the Cameroonian international couldn’t make the grade at Old Trafford and was quickly forced out to Aston Villa. When he failed to live up to his billing there he embarked on a tour of football’s backwaters across Europe. However, despite that he clocked up nearly £6m in earnings, his collections at Scottish side St Mirren only dwindle in comparison.
8. Chris Sutton
A former Premier League title winner, the England international was once the most expensive British footballer when he cost Blackburn £5m to secure his services from Norwich. However, later on in his career Sutton was fooled by a bogus get rich quick scheme and found himself out of pocket to the around £150,000.
7. Celestine Babayaro
Babayaro was once a regular in the Chelsea first team, and when he wasn’t he became a regular in Newcastle’s first team. A seasoned Nigerian international, he lost a truck load of cash over the course of his career and whilst with the Magpies he was hit with a court order in Croydon and wracked up a crippling debt that followed him around for the rest of his career.
6. Keith Gillespie
Once upon a time the Northern Irishman was tipped to be a huge star after coming through the ranks at Manchester United before moving onto Newcastle, but drinking and gambling addictions followed quickly on his trail and they added up over the years. His gambling became such a problem that he reportedly lost £100,000 on a horse in one afternoon.
5. Lee Hendrie
Emerging as a bright star with Aston Villa in the 90s, he went on to have a solid career in the Midlands until the twilight of his career. However, despite at one point earning a reported £50,000-per-week, his debts spiralled out of control and his house and luxury cars were repossessed as he filed for bankruptcy. He later attempted suicide due to his financial position, but is thankfully now working again coaching children.
4. Paul Merson
Merson enjoyed a star studded career with the likes of Arsenal and Aston Villa, but drink, drugs, and gambling all took their toll on Merson’s earnings and he quickly wracked up debts of over £5m. Later hit with divorce payments, he was forced to cash in on his mansion and supplement his work as a pundit with after dinner speeches.
3. Brad Friedel
The Premier League’s oldest current player is perhaps prolonging his career to help pay for $50,000 annual subscription debt he’s incurred back in the States. Having set up a football academy in his native Ohio, things haven’t gone according to plan business wise, and he’s actually been declared as bankrupt in his homeland.
2. David James
Despite having a successful career that saw him commandeer several big money moves with lucrative wages, the former England international was forced to cough up a considerable amount back in 2005 to help pay for a divorce. He filed for insolvency earlier this year and was forced to sell off a considerable amount of memorabilia that he’s collected over the years.
1. Paul Gascoigne
Perhaps the most famous and most heartbreaking case of how it can all go wrong. Gazza was once the jewel in England’s crown, but injuries often stopped him from progressing despite earning moves to the likes of Spurs, Lazio and Rangers. After his career ended, he sunk into a deep depression that saw him struggle with booze and drugs, which spiralled out of control on earned him a tax bill of over £400,000.
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