Some good/better news (1 Viewer)

[Grendel]

The stuff about loss of earnings was from the Sun! (I only deal with papers of record)

Which quotes one example and picked up by the Conn Artist for a cheap headline

 

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[SBT]

Which quotes one example and picked up by the Conn Artist for a cheap headline

And others, but it’s ok! More fool me for trying to answer your question.

 

[Grendel]

And others, but it’s ok! More fool me for trying to answer your question.

You answered it with a link to one player it’s a very unreliable 10 year survey . Accompanied by a link as another example of the Vesper Vulgaaris loving Conn Artists work

Coventry City watch from gloom while Wasps make a buzz at Ricoh Arena | Coventry City | The Guardian

The football club is now a tenant in the stadium built for its use, and watched on as Wasps drew a bumper crowd on Sunday

amp.theguardian.com

 

[slowpoke]

More than that I imagine. Got a lot of London property apparently so you can imagine what that's worth.

Most of his houses are in Warrington, Mancs still sing to scousers “you all live in a Robbie Fowler house” to the tune of Yellow Submarine.

 

[SBT]

You answered it with a link to one player it’s a very unreliable 10 year survey . Accompanied by a link as another example of the Vesper Vulgaaris loving Conn Artists work

Coventry City watch from gloom while Wasps make a buzz at Ricoh Arena | Coventry City | The Guardian

The football club is now a tenant in the stadium built for its use, and watched on as Wasps drew a bumper crowd on Sunday

amp.theguardian.com

Hence me slapping a great big caveat on it when I even mentioned it, but you go off old chap.

 

[Grendel]

Hence me slapping a great big caveat on it when I even mentioned it, but you go off old chap.

Hardly going off - merely questioning your source as valid - which we’ve proved it isn’t

 

[SBT]

Hardly going off - merely questioning your source as valid - which we’ve proved it isn’t

Yes, thank you for your assistance in questioning numbers which I said from the outset seemed too high. Couldn’t have done it without you.

 

[Sky_Blue_Dreamer]

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

It does seem like an incredibly high number, but there are ways that it could show that.

Ex-PL could be a lot of things. Lads that came through an academy or spent one season there on more of a Champ wage.

Then, as has been highlighted, the drop in earnings can be massive. They can go to earning in a year what they used to in a week. Some of that might happen really quickly - you're hoping for a long decent career then get crocked and suddenly find yourself unemployed with no other prospects.

Having had so much at a young age, learning to rein in your spending can be hard if you've been used to splashing the cash and never having to learn to budget or be frugal. A lot probably have an entourage or want to project a particular type of image that requires large expenditure, so if your earnings drop to a small percentage of what they were before then you could very, very quickly get into trouble.

I also imagine they're the type of people investment conman prey on - young, less likely to be well-educated or have real world experience and loaded. Go in saying a load of buzzwords and offering big returns. Probably don't care or understand the high risk they involve and at the time see it being fine to lose the money as they'll earn it back.

So while I'd take it with a pinch of salt, depending on how you define ex-PL player it is within the realms of plausibility.

 

[fatso]

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 lot of top players ..... and Bellamy it would seem.

 

[Paxman II]

Is he been made personally bankrupt or was it his companies?

 

[mmttww]

Hardly going off - merely questioning your source as valid - which we’ve proved it isn’t

F*cking bore off. "Proved" - never seen or heard someone so convinced of their own superiority. 'Proven' by you not liking a particular journalist. fml

 

[Grendel]

F*cking bore off. "Proved" - never seen or heard someone so convinced of their own superiority. 'Proven' by you not liking a particular journalist. fml

Fan of the Conn Artist?

 

[mmttww]

Fan of the Conn Artist?

No clue who they are. It's what you wrote that I quoted, pal. Asserting your opinion as proof of something is delusional. Also enjoying the "I'll make a pun on someone's name to undermine a point" approach. True intellectual rigour.

 

[fernandopartridge]

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?

Plenty do actually, I think more than average as they are ill prepared for such a drastic drop in income

 

[Astute]

No clue who they are. It's what you wrote that I quoted, pal. Asserting your opinion as proof of something is delusional. Also enjoying the "I'll make a pun on someone's name to undermine a point" approach. True intellectual rigour.

I have retired at a relatively young age. But if I kept spending at the same rate as when I was working I would be skint within 15 years.

I earned nothing like top earners in football. They retire in their 30's though. If they continue spending like when they earned an absolute fortune they run out of money much earlier. That is without the hangers on and getting ripped off.

Most people live within their means. But when their income drastically reduces they don't reduce their outgoings until it is too late. Cue a divorce and massive child maintenance. How many footballers have the intelligence to work out finances?

Too many footballers earn too much at a young age to appreciate the value of their earnings. By the time they realise it is too late. Their clubs pamper them. They don't know about paying their bills on time. Easy come easy spend. It doesn't last from their 30's until their death.

 

[KenilworthSkyBlue]

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?

They definitely do. Around 40% of footballers go bankrupt after retiring.

The stats for American athletes are far worse. I think they're around the 80% mark.

 

[KenilworthSkyBlue]

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.

I'd imagine most are mortgaged to the hilt which he'll be suffering from due to heightened interest rates and the new EPC legislation set to come in will come at a significant cost.

An incoming Labour government will also be very bad for business for him.

But yes provisionally he's done well.