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Footballers earn thousands of dollars weekly that sets them up for life despite their short career span. While others go on to expand that wealth, venture into other enterprises and continue to enjoy even after retirement, others also unfortunately lose everything they earned.
This unfortunate instance could be due to lavish spending, expensive divorces, poor investments, and bad choices.
Pulse Sports Ghana highlights five players who went from "riches to rags" after retiring from the beautiful game.
List of 5 players who lost their wealth
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Emmanuel Eboué
Emmanuel Eboué was once a prominent figure in European football, playing for top clubs like Arsenal and Galatasaray, and representing the Ivorian national team in major tournaments. Despite his success, Eboué's financial life took a dramatic turn after his retirement.
Following a bitter divorce, he lost a significant portion of his wealth to his ex-wife. Additionally, poor investment choices during his playing career further drained his finances. Eboué's downfall was so severe that he found himself sleeping on a friend's floor, unable to afford basic necessities. He was even forced to rely on public transport and wash his clothes by hand due to financial hardship.
Eric Djemba-Djemba
Eric Djemba-Djemba, the former Cameroonian midfielder, once had a promising career, playing for top clubs like Manchester United and Nantes. However, his financial downfall began after he moved to Qatar in 2008.
A disastrous real estate investment there wiped out much of his fortune. Alongside this, a public dispute with his agent revealed the extent of his financial troubles. Djemba-Djemba was later declared bankrupt, with debts exceeding €600,000, including unpaid taxes in the UK. His career ended in financial ruin, serving as a cautionary tale of how poor financial decisions can drastically affect even the wealthiest athletes.
Celestine Babayaro
Celestine Babayaro, a key figure in Nigeria's 1996 Olympic gold-winning team and a former player for Chelsea and Newcastle, was declared bankrupt in 2010. Despite earning a respectable salary during his playing days,
Babayaro faced financial ruin. His problems were evident when he was unable to maintain his once-beautiful home in Shepperton, which was valued at £475,000. Neighbors noticed that his property had become overgrown and deteriorating, and Babayaro was even seen borrowing a lawnmower, signaling his financial struggles.
Diego Maradona
The legendary Argentine footballer Diego Maradona is infamous for both his controversies on and off the field. In 2009, Italian authorities revealed that Maradona owed €37 million in unpaid taxes, stemming from his time at Napoli. Maradona claimed that a former Napoli director was to blame for the issue, but the debt still loomed over him.
By 2010, his financial troubles deepened after he lost his coaching job with Argentina, and his situation worsened when he managed a Dubai-based club, earning significantly less than during his playing days. Maradona's financial mismanagement became just another chapter in the tumultuous life of the football icon.
David James
David James, a renowned English goalkeeper who had an illustrious career playing for clubs like Liverpool, Manchester City, and Portsmouth, declared bankruptcy in 2014. Despite earning over £20 million during his 25-year career, James' finances crumbled, partly due to a costly divorce in 2005.
To raise funds, he auctioned off personal items, including signed shirts, balls, and even a vintage bicycle. Despite his financial issues, James later served as a player-manager for Kerala Blasters in the Indian Super League and is expected to be discharged from bankruptcy soon.