A sad update has emerged about a former Premier League manager, who is now facing bankruptcy. Iain Dowie, 60, is a cult hero in English football, best known for coining the term “bouncebackability” during his term in charge of Crystal Palace, where he also previously enjoyed a spell as a player.
Over the course of his managerial career, he also took charge of Oldham Athletic, Charlton Athletic, Coventry City, and Queens Park Rangers. His final role came in 2010, when he led Hull City’s survival efforts – though he ultimately failed to keep them in England’s top flight.
Like many former icons of the English game – with eight ex-England internationals having declared bankruptcy – Dowie now finds himself in a difficult financial situation. According to The Sun, he has been issued a bankruptcy petition by HMRC, with a hearing scheduled at the High Court.
Former Premier League Manager Iain Dowie Faces Bankruptcy
This week’s news comes almost two decades after ex-Luton, Southampton and West Ham striker Dowie was clobbered with a huge legal bill after leaving Crystal Palace as manager.
A court ruled in 2007 that Dowie deceived Palace into waiving a £1 million compensation clause when he quit. And a source told The Sun:
“It looks like Iain’s financial problems might date back to that legal action – there doesn’t seem to be any other reason for it. It is a shame for him as he’s such a likeable bloke, but he hasn’t cashed in with punditry as much as some other ex-players, and he probably could have done. But Iain is a bright bloke and I am sure he will bounce back.”
After leaving Palace, Dowie joined Charlton – but departed after just 15 games. His contract included a clause stipulating that Palace would receive £1 million in compensation if Dowie left to join another club. The 59-cap Northern Ireland international has worked as a sales manager and Sky Sports pundit since retiring from football.
In 2023, Dowie revealed that he had taken on a new role as a mortgage advisor at a law firm. He joined Alexander Grace Law, based near Burnley, as a business director leading its re-mortgaging team. Last year, however, Dowie – who scored 105 goals in 388 league games over his career – said he was “lucky to be alive” after suffering cardiac arrest during a spin class at a gym in Chorley, Lancashire.
Treated by fellow gym-goers and paramedics, Dowie later supported calls for more people to learn CPR, crediting his survival to the “brilliance of everyone involved.”