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Barry Ferguson bankrupt.


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How can someone who made good money in his prime like he did over a studded career end up going bankrupt? he went bankrupt owing 1.4 million according to The Sun article,

I get footballers become accustomed to a certain standard of living at their peak and they find it difficult to adapt when the money dries up, but I just don't get how someone can go from earning millions per year to going bankrupt like that.

Don't really like the guy but wouldn't wish that on him, obviously.

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Just now, K.A.I said:

How can someone who made good money in his prime like he did over a studded career end up going bankrupt? he went bankrupt owing 1.4 million according to The Sun article,

I get footballers become accustomed to a certain standard of living at their peak and they find it difficult to adapt when the money dries up, but I just don't get how someone can go from earning millions per year to going bankrupt like that.

Don't really like the guy but wouldn't wish that on him, obviously.

I thought he had few  property's in Dubai ,it must be something to do with possible tax Bill crazy how they lose money most of us can only dream about 

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1 minute ago, Juniorsparkie said:

My mate always said that John Terry would the first of the funny money Brigade to go tits up.

Is this pre-emptive about EBT's hiding the dosh ?

 

His spending was certainly off the scale at one time but I understand he has it more under control now. 

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Says it was money owed to the taxman - no indication of EBT's.

I just always tend to look at it like each million you earn, bank it. OK interest rates aren't great but I read before you still get over 40k per year interest for a million that's in the bank ... surely he's a had a few million in the bank and the interest on the millions more than covers mortgage payments for big house, nice car, a good living etc.

Or is that too simplistic?

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3 minutes ago, OneDavidCooper said:

How do we know? (Genuine question by the way, not being argumentative)

I read a few threads, columns, interviews and articles on here actually of him speaking about Pedro and the club etc. Didn't come across well at all. Maybe i was reading them wrong but he came across like a wee prick scorned. I could also be biased as i don't like him. 

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22 minutes ago, K.A.I said:

How can someone who made good money in his prime like he did over a studded career end up going bankrupt? he went bankrupt owing 1.4 million according to The Sun article,

I get footballers become accustomed to a certain standard of living at their peak and they find it difficult to adapt when the money dries up, but I just don't get how someone can go from earning millions per year to going bankrupt like that.

Don't really like the guy but wouldn't wish that on him, obviously.

I'd guess money will be stashed and Barry is perhaps finding ways to avoid imminent bills. 

Guess work on my part but I reckon when guys like him go bankrupt it's a different thing from the average guy on the street. Did read a wee bit about it when 50 cent was declared bankrupt as got to thinking the exact same questions. 

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Could be a case of being delclared bankrupt so he doesn't have to pay a massive fine or something like that, I have no idea what I'm talking about but 50 Cent was declared bankrupt just so he didn't have to pay a tax bill or some shit when he's clearly not bankrupt.

 

I don't even know what I'm talking about

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