Football may be a game of glory and fortune, but not all players manage to keep hold of their wealth. Despite earning millions and enjoying star status, several football legends have seen their fortunes evaporate due to poor financial decisions, legal troubles, or lifestyle choices.
From the Brazilian wizard Ronaldinho to the iconic Diego Maradona, this article delves into the lives of footballers who once had it all but ended up facing financial ruin.
List of Football Stars Who were once Declared Bankrupt:
Here’s a look at some of the most high-profile players whose lavish lifestyles and financial mismanagement led them to the brink of bankruptcy.
Wes Brown
Former Manchester United and England defender Wes Brown was declared bankrupt after HMRC filed a petition in February, which was approved by the High Court on April 12. Brown, who separated from his wife Leanne—known for her role in Real Housewives of Cheshire—in 2022, reportedly earned up to £50,000 a week during his time at Old Trafford.
Brown, who won five Premier League titles and two Champions League trophies with Manchester United, later played for Sunderland and Blackburn, earning 23 caps for England before retiring at Kerala Blasters in 2018. Despite his success, poor financial management led to his downfall.
Royston Drenthe
Royston Drenthe, once a promising talent at Real Madrid, saw his career derailed by off-field issues. The former Everton star and Dutch international was declared bankrupt in December 2020. Now 36, Drenthe currently plays for Spanish club Racing Murcia but has struggled with financial stability.
His bankruptcy was reported by Dutch news outlet AD, and Drenthe admitted he didn’t fully understand the legal proceedings at the time. Despite earning millions during his career, Drenthe revealed he lost £3.2 million due to a lavish lifestyle.
He later admitted that his partying and poor decisions hindered his potential at clubs like Real Madrid, where he once thought he was “God.”
Ronaldinho
Brazilian football legend Ronaldinho, known for his magical skills on the field, shocked the world when reports surfaced in 2018 that he had just £5 in his bank account while owing £1.75 million in debts. Ronaldinho was heavily fined for illegal construction in a protected area in Brazil.
Despite remortgaging his property, he couldn’t cover his debts, leading to a judge ordering the seizure of his passport. Ronaldinho’s financial woes were further compounded when he spent time in a Paraguayan prison in 2020 after allegedly trying to enter the country with forged documents.
Despite these setbacks, Ronaldinho remains a beloved figure in football, known for his time at Barcelona, where he won two La Liga titles and a Champions League.
Paul Merson
Arsenal legend Paul Merson, known for his creative playmaking abilities, lost a staggering £7 million due to gambling, alcohol, and drugs. Merson, who was part of Arsenal’s famous 1988-89 title-winning team, went through severe financial and personal struggles.
At one point, he even considered breaking his fingers to stop himself from placing bets. Merson’s addiction issues led him to blow through his fortune, including cashing in his £800,000 pension for a betting spree.
However, Merson has since turned his life around and now works as a pundit for Sky Sports, where he openly discusses his past struggles to help others.
Asamoah Gyan
Asamoah Gyan, Ghana’s all-time leading goalscorer, was once one of the highest-paid players in the world, earning £227,000 a week at Shanghai SIPG. However, in 2018, it was reported that Gyan had just £600 in his bank account and was unable to provide for his family.
Gyan, who also had successful stints at Sunderland and Al Ain, lost his wealth due to a combination of lavish spending, poor investments, and a fallout with his family.
Despite these financial troubles, Gyan remains a national hero in Ghana, known for his crucial goals in the 2010 World Cup, where Ghana reached the quarterfinals.
Paul Gascoigne
Paul Gascoigne, affectionately known as “Gazza,” is one of England’s most beloved footballers, but his life off the pitch has been marred by struggles with depression and substance abuse. Despite earning millions during his career, Gascoigne faced financial ruin, narrowly avoiding bankruptcy in 2016 after being hit with a £42,000 tax bill from HMRC.
Gascoigne, who played for clubs like Tottenham Hotspur, Lazio, and Rangers, reportedly had debts of up to £200,000 at his lowest point.
His troubles extended to substance abuse, and in Channel 4’s Scared of the Dark, he revealed that he even turned to children’s pain medication, Calpol, due to its benzyl alcohol content.
Despite these challenges, Gascoigne continues to work on his recovery and remains a cherished figure in English football.
Keith Gillespie
Northern Ireland’s Keith Gillespie was once a highly promising winger, playing for Manchester United, Newcastle United, and Blackburn Rovers. However, a severe gambling addiction led him to lose over £7.2 million, leaving him bankrupt in 2010 at the age of 35.
Gillespie, who was part of the Newcastle team that finished as Premier League runners-up twice in the 1990s, admitted in an interview with The Guardian that his gambling addiction was so severe that he would place bets on anything.
Gillespie’s financial troubles also involved poor property investments and a failed film scheme. Despite these setbacks, he has since written an autobiography and now works to raise awareness about gambling addiction.
David James
David James, once England’s first-choice goalkeeper, earned an estimated £20 million during his career, which saw him play for top Premier League clubs like Liverpool, Aston Villa, and Manchester City. However, James declared bankruptcy in 2014, following a costly divorce in 2005 that led to mounting debts.
James, who also modeled for Armani and owned multiple properties, was forced to sell off his sports memorabilia, DJ equipment, and even a Vauxhall Astra van as part of the bankruptcy proceedings.
Even After these financial difficulties, James continued his career in football, later becoming a coach and pundit, and even managed Kerala Blasters in the Indian Super League.
Diego Maradona
Diego Maradona, often regarded as one of the greatest footballers of all time, twice broke the world transfer record but faced financial ruin later in life. The Argentine legend, who passed away in November 2020, was declared bankrupt in 2009, with the Italian Tax Authority demanding he repay £42 million in unpaid taxes from his time at Napoli in the 1980s.
After all these financial troubles, Maradona’s legacy remains untarnished, with his “Hand of God” goal and solo effort against England in the 1986 World Cup quarterfinals standing as some of the most iconic moments in football history.
Brad Friedel
Brad Friedel, the American goalkeeper who had a long career in the Premier League with clubs like Tottenham Hotspur, Aston Villa, and Blackburn Rovers, faced financial disaster after his plans to build a football academy in the United States fell apart.
Friedel, who earned £50,000 a week at Villa Park, reportedly owed £5 million, leading to repossession proceedings on his £260,000 house.
Eric Djemba-Djemba
Eric Djemba-Djemba, once touted as a promising talent when he joined Manchester United, was declared bankrupt just four years after leaving the club for Aston Villa. The Cameroonian midfielder, who played alongside stars like Cristiano Ronaldo and Ryan Giggs, saw his career decline rapidly due to poor financial decisions.
Djemba-Djemba tried to recover his losses by playing for clubs like St Mirren in Scotland and in the Indian Super League, but eventually ended his career in the Swiss fifth tier, where he played in front of just 88 fans. His financial woes have made him a cautionary tale in football.
John Arne Riise
John Arne Riise, known for his powerful left foot and crucial role in Liverpool’s 2005 Champions League victory, was declared bankrupt in 2007 at just 26 years old.
Riise, who was earning £50,000 a week at Anfield, faced financial difficulties due to an unpaid debt of around £100,000, which was linked to an alleged £3 million fraud investigation in Norway.
Celestine Babayaro
Celestine Babayaro, a dynamic left-back known for his time at Chelsea and Newcastle United, was a fan favorite in the Premier League during the 2000s. Despite his success on the field, Babayaro was declared bankrupt in January 2011, as recorded in the London Gazette.
The Nigerian defender, who earned a significant salary during his career, struggled with financial management, which led to his downfall. Babayaro’s story serves as a reminder of the financial challenges that many athletes face after retirement.
