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David James Bankrupt ...and now auctioning his memorabilia and other bits and pieces

Fortune 82nd MinuteFortune 82nd Minute
in Other Football and Sports
Apparently, David James was declared bankrupt in May.

http://www.bbc.co.uk/news/uk-england-29895649

He's now got to auction off all his memorabilia and other bits and pieces.

Items can be seen here - https://www.hilcoind.com/sale-details?view=detailview&pid=490735c4-a3ff-2551-d402-54579bd48161

Not sure about the shirts but might bid for a Raleigh Chopper bike or the Vauxhall Astra customised van!

Seriously, don't know whether to feel sorry for him that things have come to this or think what an idiot for squandering away the many millions he must have earnt . Guess it would depend on what caused his bankruptcy. Anyone know?
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    ross1ross1
    Unless there is a very good reason, I have no sympathy for these sportsmen who have more money than most of us will ever see, and yet when career is over, they are broke.
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    Covered EndCovered End
    What a talent.




    You really need a special talent, to be able to go from multi millionaire to bankruptcy. (if true).
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    cafcsingercafcsinger
    Apparently around 15% of footballers face bankruptcy within 5 years after retiring, and that percentage could even be higher.
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    cabblescabbles
    Pure speculation but could be a failed business venture. It's the only thing I can think of where you may have to commit large sums of your own as capital. I can't imagine personal lifestyle could be lived in such an excess that he could throw away a fortune. But then what do I know as he probably earned more in a week than I do a year....

    He didn't seem like an arrogant person in interviews etc and I never heard of any stories where he would flaunt his money, so seems strange
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    Covered EndCovered End
    Yep bankrupt in May.

    http://en.wikipedia.org/wiki/David_James_(footballer)
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    golfaddickgolfaddick
    Doesn't sound like he is "bankrupt" as such as according to the BBC report he is currently working in India so must have some incone. More like he hasn't paid someone & has been taken to court & hasnt got the readies to pay. He is probably asset rich but cash poor
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    DraizetrainDraizetrain
    And I thought he was supposed to be one of the smarter ones....
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    Covered EndCovered End
    golfaddick said:

    Doesn't sound like he is "bankrupt" as such as according to the BBC report he is currently working in India so must have some incone. More like he hasn't paid someone & has been taken to court & hasnt got the readies to pay. He is probably asset rich but cash poor

    Golfie, I thought that you are a financial adviser. According to my wiki link above HE WAS DECLARED BANKRUPT IN MAY.

    Being bankrupt doesn't disqualify someone from ever working again !
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    HartleypeteHartleypete
    Divorced, probably lost most of it then.
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    JiMMy 85JiMMy 85
    Draizetrain said:

    And I thought he was supposed to be one of the smarter ones....

    The problem I've had with James is that he thinks the same thing.
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    bucksheebuckshee
    "For further details please contact D Bent"

    Ha ha.
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    kentaddickkentaddick
    david james lives in tonbridge?!
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    blackheathaddickblackheathaddick
    Currently player manager for my 2nd team Kerala Blasters!
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    kentaddickkentaddick
    blackheathaddick said:

    Currently player manager for my 2nd team Kerala Blasters!

    owned by sachin tendulker!
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    Dave2lDave2l
    Strange he was bankrupt in May...as saw him living it up at IOW festival in June.

    In the VIP area.

    It still costs money...I would think
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    Oggy RedOggy Red
    Headline writer having a right laugh, on the BBC Bristol City page:

    Bankrupt goalkeeper to auction balls

    http://www.bbc.co.uk/sport/football/teams/bristol-city
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    AddickUpNorthAddickUpNorth
    Better to have had loads and to lose it then to never have had it. Or something. Oh well.
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    smiffyboysmiffyboy
    Didn't he go through a messy divorce and have to pay his ex a ridiculous amount a week
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    Kenny AchampongKenny Achampong
    I am sure that I read in Stan Collymore's autobiography, that David James would only wear trainers/shirts/t-shirts on one occasion before tossing them away, as he couldn't be bothered to wash/iron them. He would simply go and buy new clobber on a weekly basis. I remember when I read it, thinking that he sounded like a twat, and now I bet he that he feels like one as well!
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    ColinTatColinTat
    Have little sympathy with as someone else said an 'intelligent' footballer. Ultimately these players earn astronomically above the economic benefit they provide for their club. If I'd have earnt anything like he earnt a massive percentage would have gone into my pension, the tax relief in those days was crazily generous. All he had to do was talk to Robbie Fowler about a business idea and not do a Hendrie over leverage.
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    IAIA
    The tax relief on pension savings. Rock n Roll.
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    cabblescabbles
    ColinTat said:

    Have little sympathy with as someone else said an 'intelligent' footballer. Ultimately these players earn astronomically above the economic benefit they provide for their club. If I'd have earnt anything like he earnt a massive percentage would have gone into my pension, the tax relief in those days was crazily generous. All he had to do was talk to Robbie Fowler about a business idea and not do a Hendrie over leverage.

    I always thought john Hendrie was carrying a bit of leverage around with him during is Boro/Bolton days
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    Addick in SW16Addick in SW16
    edited November 2014
    It might not be quite as simple as him being an idiot for throwing away his fortune. This may sound like a silly question, but when do professional footballers learn essential life skills such as budgeting? Because it seems that so many struggle with the adjustment of retirement and not being able to sustain their extravagant lifestyles when they have more than enough money to never need to work again. And if it's anything like gambling, that can be extremely addictive, just as drugs are and some will say it's an illness. So although I personally don't gamble, I feel it's a huge shame when someone succumbs to it to that extent. Whatever, the reason for his plight, hopefully he can earn some money giving back to the game he served and that gave him so much.
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    JohnBoyUKJohnBoyUK
    Just read on one of the Spurs boards that James lost a lot of money when a property deal he done with Harry Redknapp went bust. Not sure whether thats true or not but why does that not surprise me?
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    Athletico CharltonAthletico Charlton
    So facts are. He got a divorce. He has to pay the wife a lot each week/month etc. he works overseas. He is declared bankrupt in UK.

    Hmmmm.
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    Addick AddictAddick Addict
    JohnBoyUK said:

    Just read on one of the Spurs boards that James lost a lot of money when a property deal he done with Harry Redknapp went bust. Not sure whether thats true or not but why does that not surprise me?

    The connection is Samir Khan who is mentioned in this article:

    mirror.co.uk/news/uk-news/harry-redknapp-trial-i-lost-292715
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    Ormiston_AddickOrmiston_Addick
    As someone said above there is a decent % of players who are bankrupt within 5 years of retirement.

    The reality is that these guys earn big money but some cannot acknowledge the fact that the money they earn from 20-35 will have to last a long, long time because once they stop playing their earning potential collapses.

    Too many of them retire - or don't get new deals - and carry on living like they're still bringing in £50,000 per week and before too long the money is gone.

    If you can't get a coaching/managing gig - not many of those around - or a job in the media - not many of those either - then your earning potential is limited.
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    Oggy RedOggy Red
    Have I read somewhere that David James is quite an accomplished artist and painter?
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