When it comes to money, not every footballer manages to keep their house in order. A shocking eight former England internationals have gone from living the high life to facing financial ruin, proving that even those who once had the world at their feet aren’t immune to hitting rock bottom.
From lavish lifestyles to off-the-pitch missteps, these players have often burned through their fortunes faster than anyone could have bargained for. Studies from the Daily Mail show that nearly 40% of professional footballers face serious financial difficulties within five years of retirement, and these England stars are no exception. Some fell foul of bad investments, others got caught with their fingers in the cookie jar, and a few simply failed to read the writing on the wall.
Many also struggled to keep the cash flowing once their short-lived careers ended, leaving them with little promise of a new path after their life became dependent on the beautiful game. In this article, we take a look into the cautionary tales of the eight England stars who have since filed for bankruptcy – a stark reminder that fame and fortune offer no guarantee of long-term stability.
John Barnes
The latest Three Lions icon to have been declared bankrupt is none other than John Barnes, one of Liverpool’s greatest-ever players. The retired winger played 79 times for England between 1983 and 1995, scoring 10 goals. Considered the nation’s ‘Player of the 80s’, he remains one of the most skilful players in English football history.
Upon joining the Reds in 1987, Barnes became the league’s highest-paid player at £10,000-per-week – which, nowadays, is a pittance, and his ongoing trouble proves just that. His company, John Barnes Media, received a winding up order in March 2023 and has since been liquidated, as per The Athletic. Documents published on Companies House in June show bills totalling £1.5million. The 61-year-old has repaid £60,000. He cited his trust in others as an overarching reason for the mess he finds himself in during an appearance on the All Things Business Podcast in August:
“Like a lot of elite sportspeople, I got burned because I trusted people, I got caught out a couple of times and ended up losing between £1m and £1.5m over four years. In 2017, I began talking to HMRC about what I could do to repay what I owed.”
Emile Heskey
Football careers offer glamour but are notoriously short, often leading to financial pitfalls after retirement. Another former England and Liverpool player that exemplifies this is Emile Heskey, who amassed a £12 million net worth in 2009 through an underappreciated career spanning Leicester City, Liverpool (230 appearances, 60 goals), Birmingham City, Wigan, Aston Villa, and Bolton. He earned 62 caps for England, scoring seven times, before transitioning to coaching roles, including as forwards coach at Macclesfield.
Heskey’s fortunes reversed reportedly due to involvement in the Ingenious Media investment scheme, alongside figures like David Beckham and Steven Gerrard, resulting in over £1.5 million owed to HMRC. He defaulted on £92,000 in taxes from 2017-2020, incurring a £42,000 fine and a High Court bankruptcy petition. Bankruptcy was confirmed in August 2024, with discharge set for August 2025.
Trevor Sinclair
Former winger Trevor Sinclair, capped 12 times and most recently worked as an assistant coach for India’s national team, was declared bankrupt in June due to a £36,000 tax debt from 2021-22. The 52-year-old earned significantly during his playing career with Queens Park Rangers, Manchester City, and Cardiff City, and later as a pundit for BBC’s Football Focus, Final Score, and talkSPORT.
His media work declined after controversial remarks in 2022 about the Queen’s death and a 2018 drunk driving incident that injured a woman, leading to his BBC dismissal, as per the Daily Mail. Sinclair’s financial troubles escalated after his accountant’s death, causing him to reportedly ignore HMRC demands for unpaid taxes and National Insurance. Despite a two-month court adjournment to settle the debt, the 2002 World Cup star failed to appear or propose payment plans, leading Central London County Court to issue a bankruptcy order, as he was deemed unable to pay his debts.
Wes Brown
Former Manchester United defender Wes Brown, a Champions League winner with 362 appearances and 14 trophies, was declared bankrupt in May 2023. Despite earning £50,000 a week at his peak, Brown struggled financially trying to keep up with wealthier teammates. His woes were worsened by poor property investments, including an overpriced farm bought for £6-7 million – now unsold at £4.75 million – and a previous property sold at a £2.1 million loss. A costly 2022 divorce from Leanne Wassell, a six-figure tax debt to HMRC, and a smaller car finance debt ultimately triggered the bankruptcy.
Brown received support from former teammates, including Wayne Rooney, Michael Carrick, and Marcus Rashford, who even offered a discounted rental property. He attributes his troubles to misguided investments and poor financial advice. Now working in punditry and coaching, Brown focuses on educating athletes about financial literacy to help them avoid similar setbacks.
Chris Sutton
Similarly to Brown, Chris Sutton – who is in England’s one-cap club – blamed his bankruptcy in 2014 on bad financial advice. The ex-Blackburn Rovers and Chelsea striker was the first £5 million transfer in the UK, but life post-football saw him he became embroiled in a multi-million pound fraud after investing £50,000 in a spread betting foreign currency scheme.
He and his wife put at total of £100,000 into the alleged scam run by accountant Simon Grinter’s company along with other footballers, as per The Mirror. Sutton was told that every month he had made between three and four per cent returns and had not withdrawn any profits, which led to the fraud landing him in £330,000 of debt. Thankfully, he’s one of the few that successfully overcame such turmoil and he’s now a prominent figure in punditry, becoming one of the highest-paid mouthpieces for football with an annual salary of £200,000.
David James
As David James’ career as a reputable keeper started to slow down with age, a series of unfortunate events saw the player’s wealth ebb away. Where, in contrast, Portsmouth had their financial issues with ridiculous expenditure and underwhelming terms following their FA Cup victory in 2008, James’ was fairly less self-inflicted.
In 2014, while he was player-manager at Indian Super League side Kerala Blasters, he was declared bankrupt. Despite earning an estimated £20 million from his career, as well as owning several properties and having a lucrative contract modeling for Armani, James’ debts had built up since his divorce from his wife, Tanya, in 2005.
James was forced to auction off a lot of memorabilia he had amassed over the years. Utilising the sports auctioneer company Hilco, the former goalkeeper sold over 100 signed shirts as well as shorts and balls. An England shirt the player wore in the Three Lions’ 1-0 World Cup win over Argentina in 2002 fetched £672. A Liverpool goalkeeper’s jersey worn during the Reds’ 1995-96 season sold for more than £160, while a Portsmouth No.1 top that James wore in 2008 went for £480.
Lee Hendrie
Former Aston Villa midfielder Lee Hendrie, who earned one England cap in 1998 and made over 300 appearances for the club, was declared bankrupt in January 2012 at age 34. At his peak he earned £24,000 a week, but debts of more than £200,000 piled up from a rejected HMRC tax scheme, failed property ventures – including a £1.6 million Solihull mansion he tried to sell – and collapsed film partnerships during the housing downturn. A High Court petition over unpaid taxes, with no response from the then-Kidderminster Harriers player, ultimately led to the bankruptcy order despite his attempts to liquidate assets.
His troubles worsened with multiple suicide attempts in 2010 and 2011, triggered by a drawn-out divorce and his mother’s home repossession; he survived life support and has worked hard since to turn his fortune around. Discharged from bankruptcy in 2013, Hendrie has since rebuilt through punditry for Sky Sports and talkSPORT, as well as coaching roles at academies like Burton Albion. By 2020, he expressed renewed optimism on ITV’s Harry’s Heroes, shifting focus to mental health advocacy and family life, with no reports of financial distress as of 2025.
Paul Merson
Paul Merson, the former Arsenal and England midfielder, saw his life unravel off it due to a devastating gambling addiction that began at age 16. Over 35 years, he estimated losing £7 million through relentless betting, compounded by battles with alcohol and cocaine addictions that first surfaced publicly in 1994. This spiral led to personal turmoil, including two divorces, hefty child maintenance for eight children, and the 2001 sale of his £300,000 home, gambled away in mere months.