Former Liverpool and England winger John Barnes has broken his silence on the financial turmoil that culminated in his bankruptcy declaration in September 2025. The football icon, now 62, has candidly discussed the series of events that led to HM Revenue & Customs filing a petition against him over debts exceeding £1.5 million.
A History of Financial Hardship
This is not the first time Barnes has faced such difficulties. He was previously declared bankrupt in 2009, an episode he attributed to a "tax oversight." However, this latest ordeal stems from deeper issues. Barnes attributes his current financial predicament to funds being mismanaged during his illustrious playing career, leaving him vulnerable to poor investment decisions.
Costly Investments and Lack of Guidance
In a revealing interview on The Overlap, Barnes explained the root of his troubles. "So I got caught with a lot of coffee [investments] in Brazil," he admitted. "A lot of investments all over the world." When asked by host Gary Neville if he had proper financial advisors at the time, Barnes responded negatively.
"No. My agent was just an agent who did football," he said. "These are other people coming in to say, 'Well, what about this? What about this scheme?'" He specifically mentioned villas in Florida, referencing the infamous Kingsbridge investment scheme that cost many footballers millions.
The Long Road to Repayment
Barnes detailed a grueling period of attempting to settle his debts. "I lost a lot of money, and by the time I stopped playing football and this big tax bill came in, I was playing catch-up for many, many years," he revealed. From 2017 until 2025, he managed to pay off approximately £2 million.
However, this effort came at a tremendous personal cost. "I've been paying everything I've had, cashing in everything, whatever house I had," Barnes stated. "So all I've got is my house. Everything I physically can." Despite his efforts, a new tax demand for the previous year's payment pushed him into bankruptcy.
Regret and Public Perception
The football legend expressed regret over his approach, suggesting that declaring bankruptcy earlier might have been wiser. "Honestly I would have had £2m I could have done whatever I wanted with," he reflected. "But what I didn't want to do is to be seen not paying it."
Barnes is acutely aware of public perception, noting that people might think, "He's not paying tax, he's not paying tax." He emphasized his commitment to meeting his obligations, even as it led to his current financial state.
This story highlights the precarious financial situations that can follow professional sports careers, even for legends of the game. Barnes's experience serves as a cautionary tale about investment risks and the importance of sound financial management.
