Despite Raking In Nearly $2,800,000 Alongside Cristiano Ronaldo, Manchester United Legend Declared Bankrupt

Sports athletes going bankrupt is not something new. Many athletes spend money in their yesteryears but get broke after some time. And now, a recent victim of this problem has come to the forefront. The High Court declared soccer teammate of Cristiano Ronaldo and Manchester United legend Wes Brown bankrupt. Hence, he became the latest athlete to go broke. 

According to the Mirror, HMRC filed a bankruptcy petition against the Red Devils defender. The defender made over $2,800,000 annually and was influential in their title push. The results are shocking for a player who played at the top of his game and led United to several titles. 

Teammate of Cristiano Ronaldo files for bankruptcy 

The High Court rubber-stamped the file on April 12th, and they published the order this week in The Gazette. But there were various issues with his spending, as he spent millions in his early years. He had earlier tied the knot in a lavish wedding ceremony. In 2016, Wes Brown and his ex-wife Leanne sold their home after various issues. Although they put the house on the market for $5.5 million, the couple later reduced the price house’s price to $2.9 million. 

The defender started his career in 1998 and was one of the best defenders in the club. He won two Champions League trophies, five Premier League titles, two Fa Cups, and two League Cups. He played with Cristiano Ronaldo for several years and became influential for the club at the back. But losing money for athletes is a common issue. 

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Apart from Brown, iconic boxers, Mike Tyson and Allen Iverson went broke after their playing careers. So why do they go broke?

Why do athletes go broke?

Making money is easy for athletes because of their incredible contracts. However, managing that amount of wealth is something some people can’t do. More than 78 percent of footballers go broke after two years of retirement. According to reports, over 60 percent of NBA players file for bankruptcy. Lack of financial knowledge is one of the fundamental causes related to issues concerning bankruptcy.

Mike Tyson boasted a net worth of $400 million but filed for bankruptcy after his extravagant lifestyle. Thus, Wes Brown became the latest victim of financial mismanagement. It is an issue that needs to be taken seriously to protect the welfare of these players. Wealth management is crucial for the betterment of the players and to avoid them going broke. Hopefully, the situation turns better in the future. 

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