David James, not so smart after all

Originally Posted by irk

How should one invest £10 million? I worry about it in case I win the lottery. Being skint is bad enough, but being skint after I've had a few quid would do my head in.

Gold - coins, bullion, etc.
Silver - tracks gold quite well.

Both are reliable long term savers.

Rental properties rather than restaurants - regular income virtually guaranteed and sellable at the other end if you need to cash out

Shares - decent mix of blue chip and speculative depending upon how risk averse you want your portfolio

Pretty basic stuff then if you fancy a gamble, take a punt on crypto-currency, £100 on each new one and you could end up with the next bitcoin million pound payout.

Players don't need agents, just bloody good tax accountants.

Originally Posted by Tumescent Throb

the gaudi van must be worth a few quid tbf

It will be when it's finished but he's run out of money

Originally Posted by Tumescent Throb

the gaudi van must be worth a few quid tbf

:shakehead:

Originally Posted by jem

:shakehead:

Originally Posted by 92ToBury

Gold - coins, bullion, etc.
Silver - tracks gold quite well.

Both are reliable long term savers.

Rental properties rather than restaurants - regular income virtually guaranteed and sellable at the other end if you need to cash out

Shares - decent mix of blue chip and speculative depending upon how risk averse you want your portfolio

Pretty basic stuff then if you fancy a gamble, take a punt on crypto-currency, £100 on each new one and you could end up with the next bitcoin million pound payout.

Players don't need agents, just bloody good tax accountants.

unless the housing boom and bust that we just went through wiped out any value.

Why footballers are increasingly being declared bankrupt
Mr James is the latest high profile footballer to fall on hard times after quitting the lucrative game. Many seem to encounter similar problems.
Some have racked up debts having invested in several properties, while others have been chased down and fined by the taxman for investing in schemes that were invented to shelter tax.
Others have frittered wealth away elsewhere.
Keith Gillespie, dubbed the new George Best when he broke into Man Utd’s first team at age 17, lost his entire career earnings of £7 million after developing a gambling habit at an early stage. He also invested in property and in a film scheme investment, which was set up to avoid tax. Mr Gillespie declared himself bankrupt in 2010.
Another footballer who has lost it all is Lee Hendrie, the former Aston Villa midfielder, who won one cap for England. Mr Hendrie declared bankrupt in 2012, unable to repay debts of £200,000 after the value of his property investments plummeted.
Other footballers who have been declared bankrupt include former Chelsea defender Celestine Babayaro and Eric Djemba-Djemba, who played for Manchester United.
But not all footballers have lost out investing in property. Some, such as ex-Liverpool striker Robbie Fowler, have made millions.
Last year Mr Fowler launched a "property academy" to teach the secrets of buy-to-let investing.
Mr Fowler, who is said to be worth £28m, built a portfolio of properties across the North West during his long playing career and is thought to own more than 80 rental properties.

Originally Posted by Rietveld

John Terry was reportedly broke a few years ago. There were stories in the press of him beng bailed out of debt by a loan from Chelsea FC. At one point he was meant to be the highest earner at the club. What a dick.

He did about 3/4yrs ago

Its easily done if they don't set up any income earning ventures, houses are out now as yields are shit (5%) so they have to play it safe and just invest it in solid boring shit earning 8/9% and not go to wild with there spending

*edit* Fowler did it all at the right time, he was buying up streets of houses to rent out and back then rent yields where 10-15%, now any property/business is sold at a max of 20x income

Gets his debts reduced, pays them off and gets on with his life. Hes got 6 figure earning potential for the foreseeable anyway.

Maybe Tug the pompey groundsman can lend him a fiver.

http://www.dailymail.co.uk/sport/wor...-calamity.html

No sympathy to any footballer who goes bankrupt after practically playing in the Premiership for a long period of time on an average of 25k+ a week.

Most of these players could buy a 250-500k property in cash each year if they wanted (depending on how much they earn), buy 3 or 4 in London and you've got easy guaranteed rent for the long term foreseeable future even if house prices don't go up and you don't make any money when you sell. Half the time it must come down to the greed, or bad of advice, of investing in big schemes with big returns, when you could just make some sensible purchases.


I do wonder if perhaps the PFA don't do enough, particularly with players once they get to mid 20s, to prepare them for life after football. Once a kids had his fun and starting to reach late 20s they know they've only got a few years left so really should start putting stuff away.

I can see how some of the shitter players get into trouble though. Start off on big wages in the prem, slowly slide into the championship, still try and live the life - especially when gambling is involved.

Thomas Gravesen still cracks me up - http://www.dailymail.co.uk/sport/foo...worth-80m.html

£#%&! him.

Zero £#%&!ing sympathy for the @#%&!.

Next.

Originally Posted by Tumescent Throb

20m isn't that much once tax and women are taken off

Don't know how anyone could make it last tbh.

Originally Posted by plopborsky

Some, such as ex-Liverpool striker Robbie Fowler, have made millions. Last year Mr Fowler launched a "property academy" to teach the secrets of buy-to-let investing.

An academy to tell people to make a shit load of money doing something else and then buy property with the money.

Originally Posted by Jammy Dodger

An academy to tell people to make a shit load of money doing something else and then buy property with the money.

new to scousers pol

Met a guy who used to supply cars to footballers back in the early 2000s , it must have been like taking candy of babies. His phone was constantly ringing from united & Leeds footballers. If he got something rare he'd just drive to Carrington or Thorp Arch and it sounded like a scene when the ice cream van rocks up on a scorching summer afternoon, players falling over each other to buy it. This is around the time the BMW X5 had just come out Hasslebank was still at Leeds and bought one and turned it into Frankenstein's car with every conceivable add on and then several more , when he became bored of it you were stuck with a freak show vehicle that's spec suited no one else on the planet, daft shit like this must lose players fortunes.

Originally Posted by thatsfuctit

Met a guy who used to supply cars to footballers back in the early 2000s , it must have been like taking candy of babies. His phone was constantly ringing from united & Leeds footballers. If he got something rare he'd just drive to Carrington or Thorp Arch and it sounded like a scene when the ice cream van rocks up on a scorching summer afternoon, players falling over each other to buy it. This is around the time the BMW X5 had just come out Hasslebank was still at Leeds and bought one and turned it into Frankenstein's car with every conceivable add on and then several more , when he became bored of it you were stuck with a freak show vehicle that's spec suited no one else on the planet, daft shit like this must lose players fortunes.

too true.

I remember reading that Eric Djemba-Djemba owned 10 cars when he left United

Originally Posted by doudou

I remember reading that Eric Djemba-Djemba owned 10 cars when he left United

not all bad, then.

That @#%&! Djameba Djemba went to fergie and asked for an advance on his wages didnt he?

£#%&!ing crazy shit!

Originally Posted by rogieop

That @#%&! Djameba Djemba went to fergie and asked for an advance on his wages didnt he?

£#%&!ing crazy shit!

Would have loved to have seen that. The daft @#%&! went bankrupt soon after IIRC. I'm sure he's still dining out on being an ex-United player somewhere though.

Apologies if answered but...was he Meant to be smart?