Some good/better news (3 Viewers)

[stevefloyd]

Burnley assistant manager Bellamy is bankrupt

Bellend ha ha ohh shame ...

 

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[PUSB-We_are_going_up]

 

[Flying Fokker]

Was wondering where to post this? Hit the press yesterday.

 

[SKYBLUES90]

That’s a shame, Couldn’t have happened to a nicer bloke.

 

[Otis]

Was wondering where to post this? Hit the press yesterday.

Wow, you are in a very poor signal area aren't you.

 

[Evo1883]

Blokes a tosspot

 

[Londonccfcfan]

Any other person and you would sympathise

 

[Sky Blue Harry H]

Just posted this in ex-player thread (as I couldn't find a bell end thread )

 

[Bad Boy]

He's the sort of person I'd rather not meet.

 

[SkyblueDad]

He won’t be on skid row or pushing shopping trolleys for a living though.

 

[Boosh]

That’s sad, I hope he sorts himself out

 

[Brylowes]

Not really got much interest in this story and even less knowledge of British bankruptcy law, but I’d bet my last pound note, his bankruptcy would look a lot different to mine ‘should I ever go down that route.

 

[play_in_skyblue_stripes]

I'm no fan af Craig as he was so disappointing at Coventry and has made some unwelcome comments after leaving.

However I'm not one to gloat on his misfortune and also he has suffered depression recently.
I hope things turn around for him.

A lot of top players end up bankrupt, which is really strange.

 

[Sbarcher]

I'm no fan af Craig as he was so disappointing at Coventry and has made some unwelcome comments after leaving.

However I'm not one to gloat on his misfortune and also he has suffered depression recently.
I hope things turn around for him.

A lot of top players end up bankrupt, which is really strange.

He did spend £1.4m of his own money to set up a charitable foundation in Sierra Leone (since closed due to financial irregularities!) and as said above suffered badly from depression which cost him his marraige.
A bellend - yes, but maybe a man to pity rather than abuse.

 

[Deleted member 5849]

His warning to other footballers is probably worthwhile, too.

 

[dadgad]

Apparently he maintains ‘I’m not an addict, not addicted to drugs or gambling’ but looking at his history I’d say he’s addicted to spending…..and potentially just as big a problem….

 

[Macca]

I'm no fan af Craig as he was so disappointing at Coventry and has made some unwelcome comments after leaving.

However I'm not one to gloat on his misfortune and also he has suffered depression recently.
I hope things turn around for him.

A lot of top players end up bankrupt, which is really strange.

big money, small brains = vulnerable

 

[Sbarcher]

Too much money and too much time - a dangerous combination.

 

[Terry Gibson's perm]

Too much money and small brain, I haven’t read the story but no doubt somebody else fault. I hope he is going to pay the money he owes as I am sure he isn’t working for free at Burnley.

 

[djr8369]

He did spend £1.4m of his own money to set up a charitable foundation in Sierra Leone (since closed due to financial irregularities!) and as said above suffered badly from depression which cost him his marraige.
A bellend - yes, but maybe a man to pity rather than abuse.

A charitable foundation closed down for financial irregularities screams elaborate tax dodging scheme.

 

[SBT]

I imagine his salary has gone off a cliff since he stopped playing - if you don’t manage to blag some kind of lucrative media career or dramatically scale back your lifestyle after you retire then I can see why you could quickly run out of money.

 

[Grendel]

I imagine his salary has gone off a cliff since he stopped playing - if you don’t manage to blag some kind of lucrative media career or dramatically scale back your lifestyle after you retire then I can see why you could quickly run out of money.

Its nothing to do with that - he invested millions, had poor taxation advice and gave money away

 

[SBT]

Its nothing to do with that - he invested millions, had poor taxation advice and gave money away

Well yeah, that sounds like quite an atypical lifestyle to me! Wonder what he invested in.

 

[Grendel]

Well yeah, that sounds like quite an atypical lifestyle to me! Wonder what he invested in.

Footballers are - but I hardly think many would be bankrupt - he made some investments in property development which failed. He did also have a divorce settlement. Not many footballers get to the stage they are bankrupt do they?

 

[SBT]

Footballers are - but I hardly think many would be bankrupt - he made some investments in property development which failed. He did also have a divorce settlement. Not many footballers get to the stage they are bankrupt do they?

Well there are studies that suggest it’s something like 40-60% of Premier League players. Sounds high to me, and I don’t know what the actual numbers are. But I think it’s fairly clear that if you make millions worth of investments while you’re still playing and don’t leave yourself the opportunity to hedge then yes, you’ll probably wish you scaled things back at some point.

 

[Grendel]

Well there are studies that suggest it’s something like 40-60% of Premier League players. Sounds high to me, and I don’t know what the actual numbers are. But I think it’s fairly clear that if you make millions worth of investments while you’re still playing and don’t leave yourself the opportunity to hedge then yes, you’ll probably wish you scaled things back at some point.

40 -60% file for bankruptcy? That’s astonishing. Is there a link to that

 

[SBT]

40 -60% file for bankruptcy? That’s astonishing. Is there a link to that

More than 500 footballers may have lost up to £1bn due to bad advice

A major motivation behind the growing calls for reform of the PFA is the large number of recently retired players struggling with severe financial difficulties

www.theguardian.com

 

[Grendel]

David Conn……lol

 

[SkyblueDad]

Robbie Fowler bought houses, nearly a thousand of them to make him one of the largest private landlords in the country.
Just imagine, that could be around half a million a month in rent then theres the house values that could be around £150mllion, I hope for him there’s pockets in shrouds.

 

[SBT]

David Conn……lol

It’s not Conn’s survey, of course: Majority of players 'will go broke', survey claims

XPro chief executive Geoff Scott, an ex-Leicester and Stoke player, told the Sun on Sunday: "Our database shows three in five players go bankrupt within five years, and that coincides with one in three getting divorced within 12 months [of the end of a playing career].

Mark Sands, of bankruptcy specialists RSM Tenon, told the paper many footballers encountered problems after "developing expensive tastes and making risky investments".

"When their playing career came to an end, they had no second income and their earnings dropped rapidly," he explained. "And as their earnings dropped, their expenditure did not."

Bellamy sounds like a depressingly typical case.

 

[Grendel]

It’s not Conn’s survey, of course: Majority of players 'will go broke', survey claims




Bellamy sounds like a depressingly typical case.

It seems rather bizarre to me that 60% go bankrupt and this is never really highlighted - it’s equally random Lee Hendrie is the only one referenced in this 10 year old survey. It’s easy to identify bankrupt individuals - seems strange

As for Mr Conn - are you his tea boy?

 

[SBT]

It seems rather bizarre to me that 60% go bankrupt and this is never really highlighted - it’s equally random Lee Hendrie is the only one referenced in this 10 year old survey. It’s easy to identify bankrupt individuals - seems strange

As for Mr Conn - are you his tea boy?

As I said, the numbers seem high to me. But as the last link says, the sudden drop in earnings is often a big factor, especially when combined with a divorce and/or bad investments. Didn’t think that would be a controversial point!

 

[Grendel]

As I said, the numbers seem high to me. But as the last link says, the sudden drop in earnings is often a big factor, especially when combined with a divorce and/or bad investments. Didn’t think that would be a controversial point!

Well it’s been picked up by Mr Conn - a freelance guardian reporter about as reliable as Dan Wooten of GB News fame

 

[SBT]

Well it’s been picked up by Mr Conn - a freelance guardian reporter about as reliable as Dan Wooten of GB News fame

The stuff about loss of earnings was from the Sun! (I only deal with papers of record)

 

[clint van damme]

Robbie Fowler bought houses, nearly a thousand of them to make him one of the largest private landlords in the country.
Just imagine, that could be around half a million a month in rent then theres the house values that could be around £150mllion, I hope for him there’s pockets in shrouds.

More than that I imagine. Got a lot of London property apparently so you can imagine what that's worth.