Players going bankrupt

Super_horns

Naturally Mr Hendrie isn't getting a lot of sympathy comments wise and its probably no surprise given the general reputation of footballers (rightly or wronly as a collective)

Do they need more help on how to look after their money?

Again another example of too much soon and not having the right education or mind set in terms of how to spend wisely..

http://www.bbc.co.uk/sport/0/football/21790728

ChiAddick

Merson's book is a good read and talks about this issue. HE said footballers try and replace the 'buzz' once they stop playing. For many, this is through betting.

Absurdistan

John Arne Riise
Brad Friedel
Keith Gillespie
Celestine Babayaro
Eric Djemba-Djemba
John Barnes
Jason Euell
Carl Cort

SELR_addicks

It's more of a sporting problem than a football one. Boxers especially have trouble coping after retirement.

Mainly down to lack of planning when younger leaving yourself with little to no money 10 or 20 years down the line.

se9addick

Very sad for anyone to go chapter 11 but unfortunately there are many people with financial issues not of their making who get my sympathy first

kentaddick

Wasn't Jason Euell's more to the fact he was conned by some one and so lost his small fortune he made? Brad Friedel and Riise are still playing arent they?! In the premier league and on premier league wages... Crazy.

Stig

The main personal problem is how do you cope with the fact that you were top of the tree and loved & respected for being very good at something you enjoy and replace it with something of similar value. Very few sports people are ever going to find a second career/hobby/interest to replace the original where they are that good and that adored.

The main social problem is that we place too much importance on money as a signifier of personal worth, we pay top level footballers way too much in terms of their social worth and we have allowed a situation where gambling is promoted as the ultimate fun activity.

Super_horns

kentaddick said:

Wasn't Jason Euell's more to the fact he was conned by some one and so lost his small fortune he made? Brad Friedel and Riise are still playing arent they?! In the premier league and on premier league wages... Crazy.

Somebody said he put some money into Soccer schools that went bust...

DRAddick

So Hendrie' problems were a property portfolio and bad investment? If you're already very wealthy and have more than enough money to to live comfortably the rest of your life, then you invest or speculate or whatever in order to have even more wealth then that's just greed and don't moan if it goes tits up. No sympathy.

North Lower Neil

Think a few get advised badly too - try to invest well but trust others who invest badly doing so.

Better advice to young players is a good idea so good luck to Hendrie.

kings hill addick

It's probably greed. These young men earn a fortune but they can't help being suckered in by people that tell they can make them even more money.

Just how much more does someone earning £1m a year need?

Frankly if they are stupid enough to lose it all then they deserve what they get/have!

kentaddick

Super_horns said:

kentaddick said:

Wasn't Jason Euell's more to the fact he was conned by some one and so lost his small fortune he made? Brad Friedel and Riise are still playing arent they?! In the premier league and on premier league wages... Crazy.

Somebody said he put some money into Soccer schools that went bust...

looking it up he claims that his signature was forged to pay off people, so i guess it was fraud to some extent (if its true)

Super_horns

Yes - must admit he doesn't seem the type to out and spend (waste) millions on various high value things but then these guys have so much time on their hands maybe they just get attracted and think the money is there for them to cope.