Former England and Liverpool football legend John Barnes has been officially declared bankrupt following debts incurred by his collapsed media firm. The ruling, published by the London Gazette, was made by the High Court of Justice on September 23, bringing another chapter of financial struggle for the 61-year-old.
The case centres around John Barnes’ now-defunct company, John Barnes Media, which went into liquidation after failing to pay outstanding taxes. John Barnes had already been banned from serving as a company director for three and a half years over the financial mismanagement tied to the business.
The bankruptcy ruling highlights long-standing debts amounting to £1.5 million, including significant arrears owed to HM Revenue and Customs (HMRC), alongside other creditors and loan obligations.
Breakdown of Debts and Liabilities
According to records, John Barnes owes HMRC £776,878 in unpaid VAT, National Insurance and PAYE taxes. In addition, he faces debts of £461,849 to unsecured creditors, a directors loan worth £226,000, and liquidator’s costs totalling £56,535.
John Barnes has managed to repay £60,000 so far after agreeing to return the director’s loan in instalments. However, despite years of repayments, the financial hole has remained sizeable, with new obligations adding to the mounting pressure.
The insolvency investigation revealed that John Barnes Media had failed to pay more than £190,000 in taxes, despite generating a turnover of over £440,000 between 2018 and 2020. The Insolvency Service noted that the company had paid no tax at all during that period.
John Barnes’ Response and Repayment Efforts
John Barnes has previously addressed the situation, insisting that reports of his financial state have often been misleading. In an interview with the All Things Business podcast, he stated that he has repaid around £2.2 million since 2017 and continues to pay £10,000 each month towards his HMRC debt.
“I don’t have any assets left,” John Barnes explained, stressing that he had already sold what he owned to meet obligations. “Every time something new comes up, stories appear in the press saying negative things about how I am not paying my taxes, even though I’ve been going to court to ask for permission to keep paying.”
He added that, unlike others who seek loopholes or avoid responsibilities, he has consistently faced his debts head-on. “Football is a working-class sport. I don’t want people thinking I’ve got all this money and refuse to pay tax. It would be easy to be made bankrupt because they can’t take anything else from me—but I want to keep paying.”
Financial Struggles of Former Sports Stars
John Barnes, once one of the highest-paid players in English football and famously the first to earn £10,000 a week, admitted that he lost significant sums due to misplaced trust in financial advisers and poor investment choices. He claimed to have lost between £1 million and £1.5 million over a span of four years.
Like many retired sports professionals, John Barnes has spoken openly about the challenges athletes face in managing wealth after their playing careers end. “I was making a lot of money, but like a lot of elite sportspeople, I got burned,” he said, reflecting on his financial missteps.
His case underscores the ongoing issue of financial vulnerability among retired athletes, many of whom struggle to sustain their lifestyles or businesses once regular earnings from professional contracts come to an end.
Career Legacy Overshadowed by Legal Battle
Despite his current financial woes, John Barnes remains a celebrated figure in English football. The Jamaican-born winger earned 79 caps for England between 1983 and 1995, starring for Liverpool, Newcastle United, and Watford during an illustrious club career.
John Barnes was renowned for his flair, creativity, and iconic goals, with his 1984 solo strike for England against Brazil still regarded as one of the greatest ever scored at the Maracanã. His achievements cemented his status as one of Liverpool’s greatest players, winning multiple league titles and FA Cups during his Anfield years.
While his football legacy remains untarnished on the pitch, the bankruptcy ruling casts a shadow over his post-playing career. For now, John Barnes has yet to publicly comment on the High Court’s latest decision, though his past remarks suggest he intends to continue honouring his obligations despite his financial setbacks.
