Former footballer John Barnes declared bankrupt: debts reach £1.5 million.

According to The Sun: The legendary English footballer John Barnes has declared himself bankrupt due to the debts of his business, which amount to 1.5 million pounds sterling.

The 61-year-old former player, whose company John Barnes Media Limited has faced financial difficulties, has come under the scrutiny of HMRC.

His full name – John Charles Brian Barnes – is used in the bankruptcy notice. Information about this appeared in the London Gazette after a claim was filed by HM Revenue & Customs (HMRC) in early August.

On September 25, a bankruptcy order was issued in the High Court of Justice.

Barnes lives in Wirral, Merseyside. There, he is referred to as a “former footballer.”

According to reports, the debts of his former company exceed 1.5 million pounds sterling.

In the liquidators' largest report on Barnes' media company, a debt of £776,878 is cited for unpaid VAT, national insurance contributions, and PAYE.

In addition, he owes unsecured creditors £461,849, as well as having a current loan from the director amounting to £226,000 and liquidator expenses of £56,535.

In the last eight years, Barnes has attempted to settle his debts with HM Revenue & Customs.

However, last month new bankruptcy risks emerged.

On the podcast All Things Business, he was asked how financial problems have affected his life.

“Aside from a few sleepless nights, it hasn’t had much impact on me because looking at how the world looks.”

“I see people who are suffering even worse than me.”

“As long as I can work and pay, and as long as my job goes to earn money for repayment (of the tax debt), I am currently paying £10,000 a month, which means I am not earning £20,000 a month, so I will have tax problems in the future.”

“But I have reduced the debt, I thought I had reduced it to one year, so this is a new issue - somewhat bad.”

Speaking about his financial situation, Barnes remarked: “I earned a lot of money, I was the first footballer to earn £10,000 a week, and for a few years, I enjoyed that.”

“Like many elite athletes, I suffered because I trusted people. I got into a few situations and lost between 1 million and 1.5 million over four years.”

“In 2017, I began negotiations with HMRC about what I could do to repay what I owed.”

The former winger of Liverpool and the England national team, who played 79 matches for the “Three Lions,” has faced multiple bankruptcy claims since 2010.

This process included a case in 2023 regarding a personal tax bill of £238,000, which was settled at the last moment.

Barnes ended his football career in 1999 after brilliant performances with Watford, Liverpool, Newcastle, Charlton, and the England national team.

After that, he began a coaching career, working with Tranmere, Celtic, and Jamaica, and also became a commentator and published a book in 2021.

John Barnes' financial situation reflects the issues many former athletes face. Sometimes fame and money come with financial difficulties that can develop due to trusting the wrong people or poor planning. His story serves as a reminder of the importance of financial literacy, even after a shining sports career.