From £10k a Week Star to Bankruptcy: Liverpool Legend Owes £1.5 Million in Unpaid Taxes and Debts | OneFootball

Ex Liverpool star hit with High Court order as tax troubles resurface despite years of repayments

From £10k a Week Star to Bankruptcy: Liverpool Legend Owes £1.5 Million in Unpaid Taxes and Debts

England & Liverpool great John Barnes's officially been declared bankrupt after his now liquidated company, John Barnes Media Limited, ran up debts of more than 1.5 million sterling pound.

High Court order confirmed

The 61 year old’s bankruptcy was issued by the High Court of Justice on 23 Sep with the notice published in the London Gazette.

HM Revenue & Customs HMRC filed the petition in early August revealing unpaid liabilities to the tax authority and multiple creditors.

Breakdown of Barnes’ debts

According to liquidators' reports, Barnes owes HMRC 776,878 sterling pouns in unpaid VAT, National Insurance & PAYE.

In addition £461,849's owed to unsecured creditors, alongside £226,000 director’s loan & liquidation costs of £56,535.

Long running financial struggles

The former winger's faced 6 separate bankruptcy petitions since 2010. Last year he narrowly avoided another order after settling £238,000 personal tax bill at the last moment.

His company entered liquidation 2 year ago after failing to pay more than 190000 sterling pound in taxes.

Barnes responds to financial turmoil

Speaking recently on the All Things Business podcast, Barnes admitted the strain but downplayed its impact:

The ex England international who earned 79 caps between 1983 and 1995 said poor investment advice cost him between £1m & £1.5m.

He added that despite his financial woes, he continues to work and remains focused on meeting repayment plans.

From stardom to struggles

Barnes, the 1st English player to earn £10,000 week, enjoyed glittering career with Watford, Liverpool, Newcastle and the national team before retiring in 1999.

He later moved into management with Celtic, Jamaica & Tranmere while also working as pundit and author.