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This feature highlights seven Premier League stars who lost their fortunes due to poor financial decisions, gambling, and personal issues.
Premier League footballers are renowned for their high wages and extravagant lifestyles, but what happens when the dream turns into a nightmare?
Despite earning millions, some of these high-flying sports stars have found themselves in financial ruin.
From gambling away their wealth to making poor investment choices, their stories serve as cautionary tales.
Pulse Sports looks at seven Premier League stars who lost their fortunes due to poor decisions, property disasters, and gambling as per Daily Mail.
1. Emile Heskey
Emile Heskey, a former Liverpool, Leicester City, and Aston Villa striker, is one of the most surprising names on this list.
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At the height of his career around 2009, Heskey was worth an estimated £12 million. However, financial missteps have left him on the brink of bankruptcy.
Involved in a celebrity investment scheme at the center of a £1.6 billion tax dispute, Heskey's financial woes began to unravel.
In 2023, a celebrity bar he ran with his wife in Alderley Edge was shut down by the High Court with debts of £163,000.
Additionally, Heskey defaulted on £92,000 of tax while working as a football development officer between 2017 and 2020, resulting in a £42,000 fine.
2. Charlie Taylor
Burnley defender Charlie Taylor, despite earning approximately £30,000-a-week, faced financial troubles due to an administrative error rather than a shortage of cash.
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Declared bankrupt after non-payment of bills, Taylor is currently in the process of annulling the ruling having repaid the debt in full.
While Taylor's situation might be less dire compared to others, it highlights how even administrative oversights can lead to significant financial issues for Premier League players.
3. David James
Former England goalkeeper David James was declared bankrupt in 2014 despite earning an estimated £20 million during his career.
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Known for his lengthy career, which included 805 club appearances and 53 for England, James's financial downfall was precipitated by an expensive divorce in 2005 that cost him an estimated £3 million.
To discharge his bankruptcy, James was forced to auction his entire 1,800-record collection and sporting memorabilia.
4. Paul Gascoigne
Paul Gascoigne, the former Spurs, Rangers, Newcastle United, and England midfielder, narrowly avoided bankruptcy proceedings in 2016 after facing an unpaid £42,000 tax bill.
Gascoigne, who once had a fortune of more than £20 million, saw his wealth dissipate due to struggles with depression and substance abuse.
Gascoigne's erratic behavior, including an infamous incident where he appeared at a police stand-off claiming to be a gunman's friend, highlights the personal turmoil that often accompanies financial ruin.
Despite his talent on the field, Gascoigne's off-field issues have left him in a precarious financial situation.
5. Wes Brown
Former Manchester United defender Wes Brown was declared bankrupt in April 2023.
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Despite earning up to £50,000-a-week at the height of his career, Brown ran out of cash once his playing career ended and he split from his wife, Leanne.
A source revealed that Brown struggled to keep up with the lifestyle of his teammates, who were earning five or six times more than he was. This disparity, coupled with poor financial management, led to his financial downfall.
6. Keith Gillespie
Keith Gillespie, known for his chronic gambling addiction, lost much of his £7.2 million fortune, which was supposed to set him up for life.
Gillespie admitted in an interview with the Guardian that he lost an awful lot of money through gambling, as well as through poor property investments and involvement in a failed film scheme.
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Gillespie's story is a stark reminder of how gambling addiction can wreak havoc on a player's finances. His inability to manage his wealth effectively left him struggling financially despite a successful football career.
7. Jermaine Pennant
Jermaine Pennant, who played for Arsenal, among other clubs, squandered an estimated £10 million during his career.
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Known for his lavish lifestyle, Pennant's financial mismanagement included buying a house he later forgot about and leaving a Porsche at a railway station in Spain.
Declared bankrupt in 2023 with debts of around £1 million, Pennant's extravagant spending habits, including a £25,000 bar tab in Las Vegas and owning a fleet of supercars, led to his financial ruin.
He candidly admitted that he could have been a billionaire and still made the same mistakes, underscoring the importance of financial literacy.
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