In a recent article*, we reported that poor financial advice received at the height of his career left a professional footballer teetering on the edge of bankruptcy. Sadly, today, a further report reveals that former football star Dean Windass, who scored over 200 goals for Hull, Bradford, Middlesbrough, Sheffield United and Aberdeen, is facing bankruptcy, owing tax officials over £150,000.
Having worked with a number of sporting professionals, many of whom are in a high income bracket, we cannot reiterate enough the importance of putting in place a sound financial plan early in your career in order to optimise wealth and plan ahead for when that monthly pay packet ceases to arrive. In turn, if you spot any signs of financial distress, the sooner you speak to a specialist in this area, such as Mike Solomons or Andy Pear of BM Advisory, the more options you will have available to you.
Read a copy of our article below for further information and speak to Steve Govey about how we can assist.
* Poor financial advice leaves England footballer at the “mercy” of HMRC”