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Author Topic: Bankrupt Footballers  (Read 10148 times)

Offline Boz

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Bankrupt Footballers
« on: November 05, 2014, 08:48:14 AM »
If this hasn't been posted elsewhere, an article on the BBC web site has four footballers who have been declared bankrupt.

Three played for Villa - David James, Lee Hendrie and Eric Djemba Djemba.

Here's the link - http://www.bbc.co.uk/newsbeat/29896728


Offline Chico Hamilton III

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Re: Bankrupt Footballers
« Reply #1 on: November 05, 2014, 08:59:02 AM »
You can add Brad Freidel to that list an all

Offline UK Redsox

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Re: Bankrupt Footballers
« Reply #2 on: November 05, 2014, 09:39:10 AM »
You can add Brad Freidel to that list an all

In this country ?

I thought that it a business of his in the USA that had gone bust.

Offline saunders_heroes

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Re: Bankrupt Footballers
« Reply #3 on: November 05, 2014, 11:43:54 AM »

I believe that this is happening. That's cool
For this, I never know if you do not post it, I would not know.
And then I learned the most about it.


Well thanks for that.

Offline UK Redsox

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Re: Bankrupt Footballers
« Reply #4 on: November 05, 2014, 12:22:45 PM »

I believe that this is happening. That's cool
For this, I never know if you do not post it, I would not know.
And then I learned the most about it.


Tru dat

Offline Chris Harte

  • Member
  • Posts: 12125
Re: Bankrupt Footballers
« Reply #5 on: November 05, 2014, 12:29:07 PM »
It really astounds me that the modern-day footballer can get into this state.

I'm sure I read somewhere recently that the average Premier League player is earning £35000 per week.

Assume player Joe Bloggs is *only* earning £20,000 p/w, he will lose approximately half of that in tax and NI (assuming Joe *doesn't* have a "creative accountant" to call on). So Joe may have £10 p/w at his disposal. Assume he has a vast-sized mortgage costing him £4000 a month (roughly £1000 p/w), that's nine grand p/w left. After repayments on a couple of flash cars, regular domestic bills and some fine dining with a gold-digger with expensive tastes in jewellery, that's still surely a pretty penny left over (I suppose there are only so many Armani suits you can buy).

Do these players not think to themselves, "I don't see many 40 and 50 year olds playing at this level - I must save for the future"?


Offline lovejoy

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Re: Bankrupt Footballers
« Reply #6 on: November 05, 2014, 12:38:31 PM »
That's the rub, these players have been focused on football since adolescence and are basically lacking real life skills and brain cells. Also you forgot the wholly reputable agent who skims his 15%.

Offline Dave

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Re: Bankrupt Footballers
« Reply #7 on: November 05, 2014, 12:42:36 PM »
Assume player Joe Bloggs is *only* earning £20,000 p/w, he will lose approximately half of that in tax and NI (assuming Joe *doesn't* have a "creative accountant" to call on).
Their salary is PAYE, like any other employee. Tax and NI is deducted at source. No doubt all of their other earnings (endorsements and the like) would be dealt with by an accountant as you suggest, but there wouldn't be much scope to fiddle their normal wages.

Offline Chris Harte

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Re: Bankrupt Footballers
« Reply #8 on: November 05, 2014, 12:42:48 PM »
I did mean to mention the agent but forgot. And if he did get 15% (I don't know if that's an accurate percentage) of the assumed £20k, it is still leaves Joe a huge amount to blow.

Offline Salsa Party Animal

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Re: Bankrupt Footballers
« Reply #9 on: November 05, 2014, 12:59:44 PM »
If I was a footballer I would only spend a week wages every month. No sympathy for them. Robbie Fowler is doing alright for himself.

Offline Villafirst

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Re: Bankrupt Footballers
« Reply #10 on: November 05, 2014, 01:29:11 PM »
If you read Stan Collymore's book, he mentions David James and is none too complimentary about his wastefulness. I may be wrong, but I'm sure Collymore said if James got a slight dent in his car, instead of getting it repaired, he'd just buy another one! Some of these players are so far out of touch with reality.

Offline Singapore Villa

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Re: Bankrupt Footballers
« Reply #11 on: November 05, 2014, 01:45:10 PM »
Financial mismanagement of the highest order.

Offline Richie

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Re: Bankrupt Footballers
« Reply #12 on: November 05, 2014, 01:53:10 PM »
Financial mismanagement of the highest order.

Agreed - if us lot can survive 12 months on what the majority of these players earn in a week, it's difficult to have much sympathy.

Offline dave.woodhall

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Re: Bankrupt Footballers
« Reply #13 on: November 05, 2014, 03:39:55 PM »
It's all relative. The majority of the world's population would regard our minimum wage as untold riches.

Offline MoetVillan

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  • Posts: 4604
Re: Bankrupt Footballers
« Reply #14 on: November 05, 2014, 04:48:55 PM »
How do you make a small fortune?

Start off with a large fortune.

Most of these lads are still that, young lads that have suddenly had large wealth thrust upon them.  When the average joe (me) were fighting to stay afloat, or paying to get through Uni and then trying to find a job/buy house etc etc, they missed out on this, which really teaches the value of every single penny.  I listened to some pieces on R5 last year talking about how the real world and understanding day to day expenses, income and outlay is so far away from footballers.

However, David James who wrote a piece in the Observer for months suggesting how intelligent he was, this news somewhat puts a dampener on it!

 


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