David James - How do you **** away £20m??
Discussion
I knew him when we were teenagers & he was a very likeable, down to earth lad. I didn't see him much after his career took off, but on the few occasions I did bump into him, I saw the same guy. He never was a big party animal, didn't bling things up, so I suspect it's a mix of dodgy marriage & bad business decisions.
Wherever you get money, you get sharks waiting to take it off you. Bobby Moore went skint, people forget that & Jimmy Greaves was in the news this week with the same troubles, although in his case, he did little to help himself. We all know that culture exists in football - remember the story of Jermaine Pennant forgetting he'd left his 997 turbo parked at Zaragoza railway station for six months? But in this case I reckon it's more naivety than louche behaviour.
Wherever you get money, you get sharks waiting to take it off you. Bobby Moore went skint, people forget that & Jimmy Greaves was in the news this week with the same troubles, although in his case, he did little to help himself. We all know that culture exists in football - remember the story of Jermaine Pennant forgetting he'd left his 997 turbo parked at Zaragoza railway station for six months? But in this case I reckon it's more naivety than louche behaviour.
tload more than they pay me and I'll wager that he doesn't sit on his sofa every night watching telly as he can't afford to go out whilst wearing a sleeping bag to save on heating his poxy one-bedroom flat.Type R Tom said:
I haven’t a clue about these things but can a divorce have sufficiently strong settlements / maintenance etc. that means you end up flogging your CD player? What happens to the maintenance then?
In an industry where you earn a lot of money very young and then a tiny % of that I would say yes. Mate of mine married 5 years has one child....currently getting divorced, Likely settlement will be the house (seven figure sum) and then maintenance of £150k a year which is £100k for the ex and £50k for his son. That means before tax he has to earn £300k a year for the best party of twenty years ( I am assuming til his son leaves education). Now clearly he's very well paid but even so he's got to earn £6mil over the next 20 years before he earns anything for himself!
Ray Parlour was rumoured to have left Arsenal because of his divorce (wanted to be on a lower salary)....his was a landmark case where the ex mrs Romford Pele was awarded a big % of his earnings. http://en.wikipedia.org/wiki/Ray_Parlour
Audley Harrison is the latest.
Mail said:
Harrison also admitted he has been reckless with his earnings and could face bankruptcy in the UK. The 43-year-old currently lives in California and added: 'I've made many mistakes and learned some tough lessons along the way. I made tons of money and splurged lots of it away with reckless money management, immaturity and a desire to build my empire like Tony Montana.
'Thankfully, my wife Raychel started a hair salon business and threw chunks of money into real estate, but I'll still likely have to file for bankruptcy in the UK. Thankfully, I invested in a pension while living in the UK, so that will be good when I'm much older.
'Without my boxing income, I will not be able to pay the huge tax bill I pay each year to satisfy the film partnership I invested into in 2004, and encashed my investment by 2009. The hefty tax bill each year does not finish until 2022
http://www.dailymail.co.uk/sport/boxing/article-3012828/Audley-Harrison-suffering-traumatic-brain-injuries-faces-bankruptcy-struggles-come-terms-retirement.html'Thankfully, my wife Raychel started a hair salon business and threw chunks of money into real estate, but I'll still likely have to file for bankruptcy in the UK. Thankfully, I invested in a pension while living in the UK, so that will be good when I'm much older.
'Without my boxing income, I will not be able to pay the huge tax bill I pay each year to satisfy the film partnership I invested into in 2004, and encashed my investment by 2009. The hefty tax bill each year does not finish until 2022
I heard that a number of footballers bought villas on the Palm in Dubai right at the peak of the market. I also thought that sports people, ie those with limited career spans but high income, qualified for special pension relief given that they could have to live off savings for up to 50 years.
ricardoleeds said:
razor Ruddick was on cant pay take it away for a 5 grand debt, claims to have money problems but still lives in very nice house
I saw that, but I wouldn't have described it as a 'very nice house'.It looked like an average 4 bed newbuild on a cramped modern estate surrounded by other similar properties.
Maybe those properties are expensive in Ashford, but I don't live near there so I don't know, but it certainly didn't look like the residence of a ex professional sportsman who has presumably earned a few million.
ChasW said:
I heard that a number of footballers bought villas on the Palm in Dubai right at the peak of the market. I also thought that sports people, ie those with limited career spans but high income, qualified for special pension relief given that they could have to live off savings for up to 50 years.
Beckham was approached to be the face of the palm. He agreed as long as the England squad got the chance to buy a property there at cost price IIRC it was £600k. They are now worth £3m plus. Trevor Sinclair lives there I believe.The pension scheme was changed in 2006 as it was a massive tax break. My understanding of it was he big boys were putting the maximum in there as a lump sum from signing on fees etc which was £950,000. When they turn 35 they could draw 25% as per a normal pension. That was changed to a normal drawing age in 2006.
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