Wow, you are in a very poor signal area aren't you.Was wondering where to post this? Hit the press yesterday.
He did spend £1.4m of his own money to set up a charitable foundation in Sierra Leone (since closed due to financial irregularities!) and as said above suffered badly from depression which cost him his marraige.I'm no fan af Craig as he was so disappointing at Coventry and has made some unwelcome comments after leaving.
However I'm not one to gloat on his misfortune and also he has suffered depression recently.
I hope things turn around for him.
A lot of top players end up bankrupt, which is really strange.
I'm no fan af Craig as he was so disappointing at Coventry and has made some unwelcome comments after leaving.
However I'm not one to gloat on his misfortune and also he has suffered depression recently.
I hope things turn around for him.
A lot of top players end up bankrupt, which is really strange.
A charitable foundation closed down for financial irregularities screams elaborate tax dodging scheme.He did spend £1.4m of his own money to set up a charitable foundation in Sierra Leone (since closed due to financial irregularities!) and as said above suffered badly from depression which cost him his marraige.
A bellend - yes, but maybe a man to pity rather than abuse.
I imagine his salary has gone off a cliff since he stopped playing - if you don’t manage to blag some kind of lucrative media career or dramatically scale back your lifestyle after you retire then I can see why you could quickly run out of money.
Well yeah, that sounds like quite an atypical lifestyle to me! Wonder what he invested in.Its nothing to do with that - he invested millions, had poor taxation advice and gave money away
Well yeah, that sounds like quite an atypical lifestyle to me! Wonder what he invested in.
Well there are studies that suggest it’s something like 40-60% of Premier League players. Sounds high to me, and I don’t know what the actual numbers are. But I think it’s fairly clear that if you make millions worth of investments while you’re still playing and don’t leave yourself the opportunity to hedge then yes, you’ll probably wish you scaled things back at some point.Footballers are - but I hardly think many would be bankrupt - he made some investments in property development which failed. He did also have a divorce settlement. Not many footballers get to the stage they are bankrupt do they?
Well there are studies that suggest it’s something like 40-60% of Premier League players. Sounds high to me, and I don’t know what the actual numbers are. But I think it’s fairly clear that if you make millions worth of investments while you’re still playing and don’t leave yourself the opportunity to hedge then yes, you’ll probably wish you scaled things back at some point.
40 -60% file for bankruptcy? That’s astonishing. Is there a link to that
It’s not Conn’s survey, of course: Majority of players 'will go broke', survey claimsDavid Conn……lol
XPro chief executive Geoff Scott, an ex-Leicester and Stoke player, told the Sun on Sunday: "Our database shows three in five players go bankrupt within five years, and that coincides with one in three getting divorced within 12 months [of the end of a playing career].
Bellamy sounds like a depressingly typical case.Mark Sands, of bankruptcy specialists RSM Tenon, told the paper many footballers encountered problems after "developing expensive tastes and making risky investments".
"When their playing career came to an end, they had no second income and their earnings dropped rapidly," he explained. "And as their earnings dropped, their expenditure did not."
It’s not Conn’s survey, of course: Majority of players 'will go broke', survey claims
Bellamy sounds like a depressingly typical case.
As I said, the numbers seem high to me. But as the last link says, the sudden drop in earnings is often a big factor, especially when combined with a divorce and/or bad investments. Didn’t think that would be a controversial point!It seems rather bizarre to me that 60% go bankrupt and this is never really highlighted - it’s equally random Lee Hendrie is the only one referenced in this 10 year old survey. It’s easy to identify bankrupt individuals - seems strange
As for Mr Conn - are you his tea boy?
As I said, the numbers seem high to me. But as the last link says, the sudden drop in earnings is often a big factor, especially when combined with a divorce and/or bad investments. Didn’t think that would be a controversial point!
The stuff about loss of earnings was from the Sun! (I only deal with papers of record)Well it’s been picked up by Mr Conn - a freelance guardian reporter about as reliable as Dan Wooten of GB News fame
Robbie Fowler bought houses, nearly a thousand of them to make him one of the largest private landlords in the country.
Just imagine, that could be around half a million a month in rent then theres the house values that could be around £150mllion, I hope for him there’s pockets in shrouds.
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