Liverpool and England legend John Barnes has revealed he has been declared bankrupt for a second time, citing debts exceeding £1.5 million owed to HM Revenue and Customs. The 62-year-old former winger described losing everything after a tax petition forced him into bankruptcy in September 2025.
Speaking on The Overlap podcast, Barnes detailed how poor investment decisions during his playing career led to his financial downfall. He invested in coffee ventures in Brazil and villas in Florida, among other schemes, without proper advice. 'My agent was just an agent who did football,' he said, adding that he relied on 'mates who knew somebody' rather than structured financial guidance.
Barnes explained that he had been paying off around £2 million in tax since 2017, cashing in all his assets except his house and car. However, when the taxman demanded payment for the most recent year, he was left with no choice but to declare bankruptcy. 'What I really should have done is gone bankrupt from 2017,' he admitted. 'But I didn't want to be seen not paying it.'
The former Liverpool star, who won two FA Cups and two league titles at Anfield, said he felt the revenue collectors became 'overly aggressive' in their pursuit. He contrasted his situation with others who go bankrupt yet retain homes and cars, noting that he has 'no investments anywhere' after cashing everything in.
Barnes, who also managed Celtic, Jamaica, and Tranmere Rovers, now works as a pundit and after-dinner speaker. He previously declared bankruptcy in 2009, which he described as a 'tax oversight.'
