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NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.
The world of football is synonymous with wealth, fame, and luxury. Top players are revered globally, earning fortunes that most can only dream of. Yet, behind the glitz and glamour lies a reality not often discussed—many of these icons fall into financial hardship after their careers end. Poor financial planning, risky investments, and personal challenges have led some of football’s brightest stars to lose their fortunes, leaving them struggling to stay afloat.
Here, we look at the stories of footballers who reached the heights of the game but later faced the harsh reality of financial difficulties. These stories are both cautionary and empathetic, reminding us that wealth without careful management can be as fleeting as fame itself.
One of England’s brightest talents, Paul Gascoigne dazzled fans with his creativity and charisma on the field. Known as “Gazza,” he became an icon at clubs like Newcastle United, Tottenham Hotspur, in the English Premier League and Lazio in Seria A. Despite his impressive career, Gascoigne faced long-term struggles with mental health issues and substance abuse, which drained his finances. In later years, he faced expensive treatments and rehabilitation that took a toll on his finances. Though he occasionally receives support from friends and well-wishers, Gascoigne’s story serves as a reminder that even the most gifted players need solid support off the field.
Ivorian right-back Emmanuel Eboue was a fan favorite during his time with Arsenal. Known for his lively personality and strong performances, he seemed set for a comfortable future. However, after a costly divorce settlement, he was left with little financial security. Eboue later admitted he hadn’t fully understood his financial agreements, and trusted others to manage his wealth. His lack of oversight left him vulnerable, and he found himself in severe financial distress.
Once England’s top goalkeeper, David James had a long career with clubs like Liverpool, Aston Villa, and Manchester City. With such a successful playing history, few could have predicted his financial difficulties. James filed for bankruptcy in 2014, largely due to expensive divorce settlements and unsuccessful investments. He was forced to auction memorabilia, including England caps and jerseys, to cover his debts.
Nigerian left-back Celestine Babayaro became known for his skill during his time with Chelsea and Newcastle United. However, his lifestyle was as flashy as his career, and rumors of financial trouble emerged after he retired. In 2011, Babayaro declared bankruptcy. His spending habits, including high-end cars and real estate, contributed to his financial woes. Babayaro’s experience underscores how important financial education is for athletes, who often face immense pressure to maintain a lavish lifestyle that can be difficult to sustain after retirement.
When Cameroonian midfielder Eric Djemba-Djemba signed with Manchester United, he was expected to be a star. However, he struggled on the pitch and was soon transferred. Off the field, Djemba-Djemba was known for extravagant spending. Within a few years, he declared bankruptcy, forced to continue playing in lower leagues worldwide to make ends meet. His case is a clear example of how a short career and lavish spending can turn even a high earner into a cautionary tale.
Brazilian superstar Ronaldinho is known for his incredible skills and infectious smile, having won titles with Barcelona and Brazil’s national team. However, his fortunes shifted after he faced legal issues and fines. Ronaldinho reportedly found himself with minimal funds in his bank account at one point due to a combination of lifestyle costs, fines, and poor financial planning. He was fortunate to bounce back with endorsements and public appearances.
Philemon Masinga, a beloved South African striker, made history by helping South Africa qualify for its first FIFA World Cup in 1998. Masinga played for Leeds United and Salernitana, but after retirement, he faced financial difficulties due to failed business ventures. Despite his dedication to football initiatives in South Africa, he strugged to regain financial stability. Sadly, he also suffered from health issues and eventually passed away in 2019 after battling cancer. ultimately succumbed to cancer in 2019 after battling cancer.
These stories remind us that while a footballer’s career can be lucrative, it’s also short-lived, with many players retiring in their 30s. Financial education, proper planning, and strong support systems are essential for a stable future.
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