Former Wales captain and current Burnley assistant manager, Craig Bellamy has revealed that he is bankrupt.
Despite having earned multiple thousands weekly during his playing career, Bellamy stated that failed investments made on his behalf by advisors were responsible for his financial situation.
In an interview with the Daily Mail, Bellamy admitted that bankruptcy was a relief for him, as it would allow him to start afresh. He also clarified that he did not squander his money on drinking, gambling or drugs, but rather on investments that did not yield returns due to bad advice.
CRAIG BELLAMY: 'I don't bet or drink but I gambled on people… and I lost it all'— MailOnline Sport (@MailSport) April 1, 2023
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Bellamy’s cautionary tale is an important one for young footballers who may not have experience in managing their finances. He advised players to check everything and ensure that their advisors are regulated, as the unregulated space is “the wild west.” He also recommended that young players have their financial affairs audited by independent professionals, just like they would seek a second opinion in medical matters.
The former Man City and Liverpool star also highlighted the importance of personal responsibility, urging players to take control of their finances rather than relying solely on their clubs. He stated that players needed to learn to survive in the real world, even after their careers had ended.
The former striker’s story is a reminder of the need for financial education and management for athletes. While they may earn large sums of money during their careers, poor financial planning can lead to financial struggles after retirement.
Bellamy’s experience is a valuable lesson to players, coaches and agents, and the football industry as a whole, to ensure that athletes receive proper financial education and support throughout their careers.
To anyone out there reading this who is struggling financially, please reach out for help.
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