Former Players Lost Millions

[mexico1970]

Diversification is your hedge against financial disaster

Buy gold
Buy Silver
Buy property
Put some money in government bonds
Put some under a mattress

Under no account give ALL of your money to one company/person to care for.

 

[mexico1970]

I don't really get the criticism here. I've only read a little bit about this, but it seems that the 'financial advisors' were basically advising them to invest in something they had an interest in. That's straight up a crime (or at least it is now, I'm not sure at the time). Aren't footballers supposed to invest for their future? We hear all the time that it's a short career, and if Danny Murphy hadn't had all of his money stolen, he wouldn't need to work so much, and we wouldn't have to be subjected to him on our TVs all the time.

Ultimately, investing is always a risk, but if you do the sensible thing and hire a financial advisor as a (let's face it) kid, you expect them to do their job properly. It's one thing to get unlucky, but it seems like these people were scammed by criminals.

No doubt we'll be hearing the same thing in 10 or 20 years time with current footballers losing all their money in some crypto scam or some investment app that's gone bust and taken all their money with it.

The old "It's only a short career" maxim only held water when Stanley Mathews was swiping the leather. A years wages of any premier league player would be enough to retire on.

OK they've been mugged and the professional investors who mugged them haven't covered themselves with glory but greed was the catalyst for this. Most of the affected have probably earned more than most people have in their lifetime since they gave up football anyway, and they've probably spaffed that up the wall too.

 

[Blumers Bloomers]

Watched the documentary last night and did the most part enjoyed it till Andy Burnham rocked up. Gets where water wouldn’t.

At first I was in the “it’s their own fault for not carrying out their due diligence” camp until I saw Kingsbridge forging signatures and the like.

 

[Lavinda Past]

Read Johan Cryuffs book, this guy did not have a single braincell that wasn't geared towards football. He ended up skint aswell.

Senior players only got about £300 a week in those days. 18 year old players at top clubs are multi millionaires nowadays.

Johan Cruyff probably smoked away his fortune. He smoked about 60 a day as I remember!

 

[Kippax Street 1880]

Senior players only got about £300 a week in those days. 18 year old players at top clubs are multi millionaires nowadays.

Johan Cruyff probably smoked away his fortune. He smoked about 60 a day as I remember!

He gave it all to a friend to invest in a pig breeding business, never asked any questions and only realised he was skint when his card declined at the grocery store!

 

[DiscoSteve]

Does anyone else have no sympathy for this lot? They earned reasonable/good money, got greedy and got burned.

 

[Lavinda Past]

He gave it all to a friend to invest in a pig breeding business, never asked any questions and only realised he was skint when his card declined at the grocery store!

Bloody hell! Poor sod. He was great to watch playing, a real 'one-off'.

 

[NPBlue]

I previously posted that their conduct was possibly criminal and your English comprehension skills must be seriously deficient if you think I’ve defended them in any way.

If the fraud was as straightforward to prove as you appear to be suggesting then they would have been charged by now and the documentary was conspicuously nebulous on this forged signature point

Erm, you are defending them.

Financial advisors have a shit reputation with all the scams they have concocted over the years to rid people of money for their own personal gain, and those two are no different from the norm.

 

[I'm With Stupid]

The old "It's only a short career" maxim only held water when Stanley Mathews was swiping the leather. A years wages of any premier league player would be enough to retire on.

I agree, but I also don't get the implication that you can only have one career in your life. Like if you retire from football at 38 you couldn't possibly have any transferable skills, or that the idea of an ex-footballer having to get a normal job is unthinkable. And it's only with footballers too. No-one ever worries about how Linford Christie or Will Greenwood will make a living after retiring from sport.

 

[Uncle Wally One Ball]

I agree, but I also don't get the implication that you can only have one career in your life. Like if you retire from football at 38 you couldn't possibly have any transferable skills, or that the idea of an ex-footballer having to get a normal job is unthinkable. And it's only with footballers too. No-one ever worries about how Linford Christie or Will Greenwood will make a living after retiring from sport.

True that. Different money in it all together in rugby like but I work with a bloke who played for Bath and Wales until fairly recently and he has a new career

 

[gordondaviesmoustache]

Erm, you are defending them.

Financial advisors have a shit reputation with all the scams they have concocted over the years to rid people of money for their own personal gain, and those two are no different from the norm.

Your second point in no way bolsters your first.

Like I said, your English comprehension skills are deficient, and to the extent that there’s no point engaging with you any further.

 

[mexico1970]

I agree, but I also don't get the implication that you can only have one career in your life. Like if you retire from football at 38 you couldn't possibly have any transferable skills, or that the idea of an ex-footballer having to get a normal job is unthinkable. And it's only with footballers too. No-one ever worries about how Linford Christie or Will Greenwood will make a living after retiring from sport.

Ohhh no you can do what you like after football, the wealth you earn after it should give you that freedom to choose. I myself do not care about money enough to allow it to rule my life I have always been that way, I cut my cloth as the saying goes.

We all make life choices some good some bad, we can't all make good choices and the choices we make define who we are and how our life pans out,

Concerning myself with the welfare of wealthy people isn't the first thought I have when I get up in the morning.

 

[halfmist]

As with all investments someone is trying to make more money. It is all about risk. If it pays off, I have yet to hear anyone say oops, I have made too much how do I give some back. If you want security, keep it in various banks and stay within the £85000 per bank compensation scheme. Quite simple really, and no financial advisers commission payable. The thing about financial advisors is, if they were any good they would be sat on a beach supping champagne.

 

[RadcliffeRick]

He gave it all to a friend to invest in a pig breeding business, never asked any questions and only realised he was skint when his card declined at the grocery store!

Pig breading you say?

 

[Kippax Street 1880]

Pig breading you say?
View attachment 168706

They go through bones like butter !

 

[NPBlue]

Your second point in no way bolsters your first.

Like I said, your English comprehension skills are deficient, and to the extent that there’s no point engaging with you any further.

OK.

What a pathetic response.

I guess I've hurt your Ego a bit too much.

Ta Ta.