Skip to main content

More and more footballers are going bankrupt despite Premier League wages now averaging £1.47 million a year,

 

More and more footballers are going bankrupt despite Premier League wages now averaging £1.47 million a year, experts have claimed.  Mark Sands, head of bankruptcy at accountancy firm RSM Tenon, said the lavish lifestyles of the players coupled with poor investment choices has led to increased vulnerability. "In 2010 the average salary of a player in the Premier League was £1.47 million, 56 times the average UK wage," Sands told the Birmingham Mail. "But as their wages have increased so have the number who become insolvent. "We have certainly had an increase at RSM Tenon in the past three years. The main reasons for this can be unsustainable consumption, falling incomes after leaving the top flight, poor investment and lack of financial awareness." Last month former England international Lee Hendrie was forced to declare himself bankrupt after racking up debts of more than £200,000 with the taxman, despite earning £24,000 a week at the peak of his career. RSM Tenon stated: "The debts have apparently been a result of a tax scheme Hendrie was advised to enter into which was rejected by HM Revenue & Customs, leaving an unpaid tax bill which led to the petition. “Investments made during his peak years, in properties and film-related partnerships, went bad, leaving no money for Hendrie to turn to when times were tough.” Last year, current Tottenham goalkeeper Brad Friedel was also declared bankrupt after his non-profit US football academy ran up debts of close to £5m.

Comments

Post a Comment

You abuse this website by submitting comments or links to other websites that contain:

Any kind of pornographic material.
Any kind of illegal material.
Any kind of online marketplace, legal or illegal.
Racism related content.
Abusive or insulting accent towards the author or any other reader.
Your interaction with this website violates the web hosting company’s terms of use or the web site’s license.

Popular posts from this blog

rich Irish still live life with a bang!

  Not everybody is going broke in Ireland these days. While the bankruptcy courts continue to clog with casualties of the recession, like the Stokes brothers, there still remains a wealthy sector of society flying well above the financial carnage. Preferring to indulge in luxury jaunts outside the country rather than display any largesse at home, they head to places far beyond Irish shores for treasured moments they'll never boast about in the society columns. One such pair headed first class Down Under for a specially organised New Year's Eve treat for two, high atop the Sydney Opera House to view the biggest fireworks display on the planet. It was the ultimate night to remember for the middle-aged couple, and all organised by their personal concierge service -- where discretion comes as part of the package. Though the ranks of Ireland's rich and famous have been severely thinned out by the economic downturn, there are still plenty of low-profile millionaires out there...
Post a Comment
Read more

Four of the last reporters and photographers willing to cover crime stories have been slain in less than a week in violence-torn Veracruz state

Four of the last reporters and photographers willing to cover crime stories have been slain in less than a week in violence-torn Veracruz state, where two Mexican drug cartels are warring over control of smuggling routes and targeting sources of independent information. The brutal campaign is bleeding the media and threatening to turn Veracruz into the latest state in Mexico where fear snuffs out reporting on the drug war. Three photojournalists who worked the perilous crime beat in the port city of Veracruz were found dismembered and dumped in plastic bags in a canal Thursday, less than a week after a reporter for an investigative newsmagazine was beaten and strangled in her home in the state capital of Xalapa. Press freedom groups said all three photographers had temporarily fled the state after receiving threats last year. The organizations called for immediate government action to halt a wave of attacks that has killed at least seven current and former reporters and photographer...
Post a Comment
Read more

British tourist falls to her death from hotel balcony in Magalluf

23 year old British tourist has fallen to her death from the third floor balcony of her hotel in Magalluf, Mallorca. Emergency sources said it happened at 4.25am Saturday morning at the Hotel Teix in Calle Pinada. Local police and emergency health services went to scene. After 20 minutes of an attempt to re-animate her heart, the woman was pronounced dead. Online descriptions for the Hotel say it is the best place to stay of you are looking for non-stop partying, adding it not suitable for families.
Post a Comment
Read more