This week in Money Matters, we take a look at three footballers who were on top of the world, financially, but were unable to maintain their statuses.
Sometimes footballers land life-altering contracts and if those finances are not managed appropriately, their fortunes may turn around very quickly.
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It becomes so easy to get entrapped in the desire to live a luxurious lifestyle and some would say that besides just having an emotional desire to don the jerseys and represent your national team on the biggest stages in world football, the money aspect plays a big role in the dream of playing professional football.
Imagine you're a young person from a poor background who has a strong passion for the beautiful game and just happen to be very good at it when you're offered your first professional contract that makes your mouth hang open and eyes widen when you see what you will be paid per week. Immediately, you jump straight to the imaginary shopping list you've conjured up in your head.
You then go through a few years just blowing what you've earned on all the good, expensive things life has to offer without anyone ever teaching you about money management and something bad happens. Perhaps, for example, your contract runs out and the club decides against renewing it. Now, you have all of these fancy things to pay off but no money coming in. And just like that, life has been turned upside down.
That's how quickly things can change in football, and in life. However, not everyone's journeys are the same. Just as there are different paths to get to the top of the mountain, there are different ways to fall off of it too. These players were unfortunate enough to suffer a dramatic nose dive to rockiest of bottoms.
Diego Maradona
The Argentinean sensation was a true gift to football, displaying silky abilities on the pitch and famously leading his nation to a FIFA World Cup triumph in 1986. He made 344 professional club appearances in which he scored 160 goals and assisted on 94 occasions.
His off the pitch activities were, however, questionable.
Maradona filed for bankruptcy in 2009 after Italian Tax Authority held him liable for the £42 million (R953 million) worth of unpaid taxes he accumulated while representing Napoli in the 1980s in what proved to be a decades of ups and downs for the footballing icon.
David James
The English goalkeeper was renowned for his incredible shot-stopping abilities, having represented clubs like Liverpool, Manchester City and Portsmouth, he made 572 Premier League appearances throughout his career. He ranks second on the list of goalkeepers who kept the most clean sheets with 169.
During his 25-year career, he was reported to have amassed a total of £20 million (R455 million) but filed for bankruptcy in 2014 when his debts began to pile up and his divorce in 2005 is believed to have played a big role in his financial troubles.
The situation became so bad that he had to sell the memorabilia he collected over the years. Things like signed shirts, balls and so on.
Ronaldinho
Undoubtedly one of the most skilled players to have ever stepped onto a football pitch, the Brazilian always played with a smile and was renowned for his spectacular skill.
What he was not renowned for was his good decision making off the field. He was reported to have just over R100 in his bank account in 2018 while being in debt of £1.75 million (R39 million) after being fined for illegal construction in a protected area in Brazil.
He was unable to cover the debts, resulting in his passport being seized. He even spent time in prison in 2020 for trying to enter the country with forged documents.
After paying a fine, he did manage to get his Brazilian passport back.
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