Barry Ferguson bankrupt.

[WATP-FOREVER 5,231]

11 minutes ago, soulboy said:

They did Juninho had one.

No neighbour of BF mate.

[eejay the dj 31,964]

7 hours ago, markem said:

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. 

A big property deal has went tits up and he is looking to get out of paying it . The easy way

Another 10 years ghost writing for his favourite newspaper buddies may help somewhat

 

[DavieMacRFC 850]

Shifted all his money to offshore or his wife and declared bankrupt in case the tax man comes after him and his £BT's

[dummiesoot 16,006]

8 hours ago, Rfc52 said:

tbf you can go bankrupt and have a nice stash of dosh.

Just catching up on this thread but Craig Shyte knows this better than anyone 

[folkestoneger 8,137]

Frankly I don't have much sympathy.

He made millions and unlike the ordinary mugs on here and in the stands didn't even pay proper tax on it. ( regardless of the legality of EBTs they were still just ways to not pay what joe public pays)

There should be no such thing as tax schemes or image rights etc etc.

[The Godfather 71,893]

1 hour ago, JamieD said:

You say that like the mega rich never make bad investments and lose their money.

The smart ones have advisors who know what they are doing.     Not every footballer is moronic with money like Ferguson has clearly been.

[Laudrup1690 1,064]

7 hours ago, K.A.I said:

Walking out on us after Champions League qualification.
Undermining managers to get his own way in training.
Writing constant pish about us for the Daily Record and taking their money.
Saying winning the League Cup with Birmingham was his best feeling/achievement in football.
Taking 3-buses to the UEFA Cup Final with tickets from Rangers that included tarrier friends and family whilst some good fans went without.

Great player. Loved him as a player first time. I genuinely thought he was world class from 1998-2003 even though people disagree with me but he's a clown of a guy. As is his brother. 

I judge him on football ability and no matter what you think of him he is rangers through and through.

what manager did he undermine?plg?

[Bluepeter9 5,167]

2 hours ago, WeirFleckNRothen said:

It'll be a tactical bankruptcy.

He's been hit with a tax bill and rather than paying it, he's taken an escape route. Its the morally wrong route, so to be speak, but it's his choice and I'd do the same.

Coincidently, The Secret Footballer writes about ex-footballers being hit with a huge, crippling tax bill, himself included. I can't remember the exact cause (Image rights complications comes to mind in his case) and Ferguson's case sounds similar.

What? There are many reasons one can find themselves bankrupt without it being a tax demand - many business people get  into difficulties that they don't foresee ( ask SDM) - there is nothing 'immoral' about going bankrupt and in most cases nothing fraudulent nor even 'dodgy' about it. It happens to many businesses and individuals, every day. 

[K.A.I 36,183]

7 minutes ago, Laudrup1690 said:

I judge him on football ability and no matter what you think of him he is rangers through and through.

what manager did he undermine?plg?

I get that but you asked you don't get why some people don't like him. I told you.

[Bluepeter9 5,167]

40 minutes ago, The Godfather said:

The smart ones have advisors who know what they are doing.     Not every footballer is moronic with money like Ferguson has clearly been.

Not every advisor is competent either - he maybe invested in RBS shares! 

[Bluepeter9 5,167]

2 hours ago, WATP-FOREVER said:

 

Is this now Boris Becker Den?

Ok ask SDM 

[JockyWilsonspants 80]

Is it too much to expect that his financial advisor told him to put X% of his football earning into a pension fund and that he was sensible enough to do so? That this money cant be touched by his creditors but its sitting there waiting for him when he decides to cash it in?

 

edit: I dont know if its relevant but some documentary years back mentioned how often this happens to US sports stars(this was before the really funny money in football). I think they said its often mortgage related issues that get these people bankrupt. They get a mortgage on some huge fuck off sized 24 bedroomed mansion but cant keep the payments up once they retire. No idea how accurate this is though.

[Trooblue 1,973]

He'll just have to 'write' more of that nonsense that his pals in the Celtic-funded comic commission from him on a regular basis. 

[WATP-FOREVER 5,231]

30 minutes ago, Bluepeter9 said:

Ok ask SDM 

What's all this about, the enigma code.

Answer a straight question pal.

[Bluepeter9 5,167]

1 minute ago, WATP-FOREVER said:

What's all this about, the enigma code.

Answer a straight question pal.

Many go bankrupt - it's no big deal 

[WATP-FOREVER 5,231]

6 minutes ago, Bluepeter9 said:

Many go bankrupt - it's no big deal 

It's a big deal mate. A supposed Rangers zealot now bankrupt. 

He's a choobe - and just shows the record don't pay.

[G.E.C. 18,771]

Probably a stupid question but when you're bankrupt are you completely broke/skint? 

[Bluepeter9 5,167]

8 minutes ago, WATP-FOREVER said:

It's a big deal mate. A supposed Rangers zealot now bankrupt. 

He's a choobe - and just shows the record don't pay.

It's no big deal - only some folk want to make it so - only on RM do we do our  best to put the worst possible slant on anything that affects our heroes ( or ex heroes) 

[tannerall 25,935]

10 hours ago, K.A.I said:

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?

Those guys were superstars and living at a much higher level than their familie were accustomed to. £40k would not go far with them.

£40,000 a year for the mortgage

£40,000 a year for the car.

£40,000 a year for his wife's car.

£40,000 a year for the kid's nannies and education.

£40,000 a year for maintenance for a year for the big posh house and garden.

£40,000 a year for the furnishings for the big posh house.

£40,000 a year socialising, wining and dining.

£40,000 a year on holidays

£40,000 a year for the wife's jewellery.

£40,000 a year on designer clothes.

That's a lot of £40,000s. 

 

 

[K.A.I 36,183]

Just now, tannerall said:

Those guys were superstars and living at a much higher level than their familie were accustomed to. £40k would not go far with them.

£40,000 a year for the mortgage

£40,000 a year for the car.

£40,000 a year for his wife's car.

£40,000 a year for the kid's nannies and education.

£40,000 a year for maintenance for a year for the big posh house and garden.

£40,000 a year for the furnishings for the big posh house.

£40,000 a year socialising, wining and dining.

£40,000 a year on holidays

£40,000 a year for the wife's jewellery.

£40,000 a year on designer clothes.

That's a lot of £40,000s. 

 

 

That's 10x40k ... do you not think he's made 10-million in his career? ... I wasn't meaning 1 million in the bank and his family living on 40k a year or anything

[Bluepeter9 5,167]

2 minutes ago, G.E.C. said:

Probably a stupid question but when you're bankrupt are you completely broke/skint? 

Not nessasarily - if you have a £200k house and say a £50k debt but can find the cash to pay the £50k - you get found bankrupt ( or declare bankruptcy) and your insolvency practitioner (iP) will sell your house - pay your debt ( and fees) and get the remainder - you have no house and clear your dept ( it's not often that simple but a simplified example) 

[WATP-FOREVER 5,231]

14 minutes ago, Bluepeter9 said:

It's no big deal - only some folk want to make it so - only on RM do we do our  best to put the worst possible slant on anything that affects our heroes ( or ex heroes) 

Nonsense. 

He's a former player and he's bankrupt.

If he was my brother or relative I'd be cheesed off.

Regardless of how you play it he's  a cunt - he's not a painter & decorator, a windowcleaner with now business acumen.

He was a highly paid footballer, that had every available support around him.

He's a cunt - no excuse. 

[Bluepeter9 5,167]

So many people on this thread assuming bankruptcy is some sort of dodgy debt avoiding scheme - ffs you'd think that with all the finance expertise we got during the last 5 years folk would know bankruptcy can happen to the best through no real fault if there own. 

[Bluepeter9 5,167]

2 minutes ago, WATP-FOREVER said:

Nonsense. 

He's a former player and he's bankrupt.

If he was my brother or relative I'd be cheesed off.

Regardless of how you play it he's  a cunt - he's not a painter & decorator, a windowcleaner with now business acumen.

He was a highly paid footballer, that had every available support around him.

He's a cunt - no excuse. 

Jesus fuck - that's what passes as support these days - an ex captain getting called a cunt! 

[tannerall 25,935]

4 minutes ago, K.A.I said:

That's 10x40k ... do you not think he's made 10-million in his career? ... I wasn't meaning 1 million in the bank and his family living on 40k a year or anything

Not justifying anything right or wrong about it. Just saying the outgoings were huge at that level, That's £400k a year for 10 years say = £4 million. The figures are just a random guess from me to show what comes in often goes out. So many lottery winners make the same mistake. You cold probably live just about on 10k income a year, you'd spend 10k. But if you go to 100k you tend to spend a lot more, and once you're on 100k you'll throw more away and so on and so on. Easy for it to spiral out of control in what us effectively a short career. No excuse for it though if yoy have good financial advice and keep your head screwed on.