David James is Bankrupt

[Doon frae Troon]

Former England goalie who earned £20m in his career has recently been declared bankrupt.

How could he possibly let all that income slip through his fingers.

 

[Deleted member 15344]

By spending badly and making poor investments - not the first sportsman to do so nor the last

 

[ManinBlack]

Former England goalie who earned £20m in his career has recently been declared bankrupt.

How could he possibly let all that income slip through his fingers.

His ex wife has £5m of it.

 

[Birchy]

What I really want to know is .................................... What was he doing with a Vauxhall Astra van?

 

[Tarkus1212]

I always thought that their agents were there to ensure that this type of thing didn't happen. Can't say I have much sympathy for someone who can spend their way through 20million.

 

[Doon frae Troon]

He must have earned on average £1m a year for 20 years.

You would have to be extraordinary stupid to go bankrupt on that level of income.
Did he gamble?

 

[Ian_Bristol]

Famous people want the famous lifestyle and its not cheap, most of us live to our income its just he had more than most,

 

[Birchy]

He must have earned on average £1m a year for 20 years.

You would have to be extraordinary stupid to go bankrupt on that level of income.
Did he gamble?

He was really wasteful with his money IIRC. Not sure if he was a gambler.

I remember Collymore saying he threw more money away than anybody he ever knew. He gave lots to charity as well though.

 

[Dan2501]

Happens a lot in Sports. Football isn't the worst either, 78% of former NFL players are bankrupt. They get so used to a lavish, extreme lifestyle that when their ultimately short career (especially in the NFL) comes to an end, it's very difficult for them to switch to a more responsible outlook, and it's not long before they're broke.

 

[HomerJSimpson]

Not the first or the last but still very sad to see. Notice Jimmy White's doing the media rounds at the moment for his new book in which he claims to have drunk, gambled and snorted millions away.

 

[ManinBlack]

His ex wife has £5m of it.

He's thinking of marrying her for his ​money.

 

[Lord Tyrion]

What a dipstick. To have been a footballer during that period and end up bankrupt. Arrghhhhhhh. He seemed to be one of the more intelligent ones as well.

 

[Deleted member 15344]

He still has plenty of possessions ( cars , property ) worth over a couple million

And is earning a fair amount over in India

 

[pbrown7582]

He was never very good at saving

 

[Lord Tyrion]

He still has plenty of possessions ( cars , property ) worth over a couple million

And is earning a fair amount over in India

So is he going bankrupt or is David James Ltd, or equivalent, going bankrupt? Cars and houses may just be leased/rented so they may not be his. Plenty of business owners go down looking like millionaires but underneath they actually own very little. All on lease.

 

[Rumpokid]

He was a bit of clown between the sticks, and like the ball, a lot of money has slipped through his fingers...But believe you me, his bankruptcy (love that phrase), will not be as painful to him, as it is an ordinary person.Sure his accountant would see to that..Maybe him and Kerry could get together....Ruddock is another one, anyone see him on that debt collecting program...His shape has not changed since his football days...

 

[SaintHacker]

He played for Portsmouth when paying their players wasn't that high on their list of responsibilities, that probably set him back a few quid.

 

[ger147]

He still has plenty of possessions ( cars , property ) worth over a couple million

And is earning a fair amount over in India

He can't be the legal owner of any significant property/posessions or any equity that could be realised by selling would be put towards his debts.

 

[Deleted member 18588]

He still has plenty of possessions ( cars , property ) worth over a couple million

And is earning a fair amount over in India

Do you understand what is meant by bankruptcy?

If he were to still have realisable assets his creditors , via the Receiver, would be laying claim to them to redeem the outstanding debts. Ongoing income in this country would also be subject to a potential charge.

As for the Indian Premier League I doubt that it will be a long-term source of income. Still it does have the merit of providing a job for Peter Reid and thereby keeping him away from the game in England.

 

[chrisd]

.Ruddock is another one, anyone see him on that debt collecting program...His shape has not changed since his football days...

Believe me, I see him around quite often and he's gained more than a few pounds ( weight not money ) since he retired!