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Two football stars declared bankrupt 19 May 2014

Two former Premier League football stars have been declared bankrupt.

David James, former England and Liverpool goalkeeper, and former Blackburn and Chelsea striker Chris Sutton, were both declared bankrupt last week.

James, 43, starred as England’s goalkeeper in the 2010 World Cup and reportedly earned over £20m during his 25 year career, but filed a debtor’s petition at Hertford County Court last week.

As reported by The Sun, James accrued significant debts following a divorce in 2005.

Sutton, part of the Blackburn team that won the Premier League in 1995 and the Celtic team that won three league titles between 2001 and 2004, entered bankruptcy last week.

During a court case in 2013 Sutton revealed that he had invested £50,000 in a spread betting foreign currency scheme which was found to be a scam.

In a statement at the time, Sutton said: “During the investment period, I was led to believe that I was making a profit on the investment. However, I now realise that I was not.”

Already in 2014 several football clubs have encountered financial difficulties, with Leeds United, Bristol City, Hereford United, Dundee United and Heart of Midlothian all having experienced a type of insolvency or restructuring process this year.

 

 

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