Once Worth $3 Million, Former Soccer Superstar of LeBron James’ Liverpool, Now Bankrupt and Taken to Court Over Debts More Than $1 Million

Every professional sports player makes a decent amount of money as wages every week. Once the player establishes himself on the scene, brand endorsements and photoshoots are likely to come their way. LeBron James is a perfect example of how professional sports players should invest their money.

However, we’ve seen stories where things just haven’t gone right. Players who once had millions of dollars suddenly struggle to make a living just a few years after retirement. One such soccer player used to be an English Premier League player itself.

Former Liverpool player, Jermaine Pennant was recently declared bankrupt.

Jermaine Pennant declared bankrupt?

Just a few days ago, Birmingham County Court declared the soccer superstar bankrupt. The court has issued a one-year bankruptcy order to Pennant. The English star reportedly owes over £1 million to HMRC and many other utility companies. In 2020, his company Jermaine Pennant Ltd was dissolved after it was unable to repay huge outstanding amounts.

Controversy surrounded Jermaine Pennant for the entirety of his professional life. The former English star was first discovered at Arsenal. Pennant was considered ‘one for the future’ after he signed a deal worth £2 million at the age of just 15.

5 years later, the promising youngster banged in three goals on his full Premier League debut. Pennant later revealed that he was drinking with his friends the previous night and he was severely hungover while winning the game for Arsenal.

Two years later, Pennant was jailed for drinking and driving. The soccer star had crashed one of his friend’s Mercedes into a lamppost. Though he was on probation, Pennant could play soccer. Pennant became the first-ever player to play with an electronic tag on his ankle in the Premier League.

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Believe it or not, that was only the start of the list of controversies. Pennant was involved in a ‘cat murder’, followed by when his fiancée Amii Grove smashed many of his expensive belongings when she discovered that he was cheating on her.

LeBron James – the businessman

In this situation, LeBron James is the absolute opposite of Jermaine Pennant. The NBA star has made the right investments since Day 1. In 2022, Forbes declared LeBron James a billionaire. The basketball pro became the first active NBA player to make it to the billionaire club.

LeBron James had once revealed his ambitions regarding owning a soccer franchise. Well, the basketball pro is already working towards that dream after he purchased a minority stake in Liverpool F.C. in 2011.

Apart from that, James has also made a few other smart and strategic investments over the years. The basketball pro founded SpringHill Entertainment along with Maverick Carter. American tennis star Serena Williams is also part of its Board of Directors. James has also spent over $80 million on real estate in America.

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What would you do first if you become a billionaire? Let us know in the comments below.