Ex-footballers lose more than $200 million through bad investments, Latest World News - The New Paper

Ex-footballers lose more than $200 million through bad investments

This article is more than 12 months old

Massive losses in the millions. Possible bankruptcy and ruin.

That is the fate dozens of retired footballers in the UK, who invested in high-risk schemes and property ventures through the firm Kingsbridge Asset Management, are facing.

Former Arsenal and England striker Kevin Campbell has reportedly lost about £7 million (S$15m). Craig Short? About £2.6 million.

Campbell is reportedly now involved in bankruptcy proceedings.

The Sunday Times in the UK reported that the total losses of the former players come up to about £100 million (S$215m).

Pundit Danny Murphy (ex-Liverpool) and former Blackburn Rovers captain Short claim they were misled when the products were sold to them.

Said Short: "These investments were for my children’s future.

"I reckon over 100 retired players have been hit by this. They feel duped, anger, humiliation, really. It’s wrong, totally wrong."

Former Manchester United captain and England defender Rio Ferdinand is believed to have lost about £2.3 million. But his advisers say he limited his exposure and that he is happy with his investments, reported The Telegraph.

Others who have lost money:

 - Andy Cole, former Manchester United forward

 - Pundit Martin Keown, a defender who played for Arsenal

 - Pundit Robbie Savage ex-Blackburn Rovers midfielder

Sources: The Sunday Times, The Telegraph, City A.M.

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