For the latest from the pitch sign up for our football newsletter
Former Premier League footballer Danny Guthrie has been declared bankrupt after totting up over £120,000 in gambling debts.
The Shrewsbury-born midfielder was given his big break with Liverpool back in 2006 before going on to represent the likes of Bolton, Newcastle, Reading and Blackburn. Guthrie's nomadic career has since seen turn out for Mitra Kukar in Indonesia and League Two outfit Walsall, before he completed a move to Icelandic second division side Fram in 2021.
However, the 35-year-old's days of possessing a bulging bank account are now behind him. That's because the former Premier League star has officially been declared bankrupt.
According to The Insolvency Service, Guthrie first became embroiled in financial trouble back in 2019 after borrowing £75,000 from a friend to cover his expenses. The ex-midfielder then promised to repay the loan following the sale of a home.
However, prior to that, the Liverpool academy graduate ran up gambling debts. When he eventually sold the property in 2020 for a fee of £160,000, he is said to have elected to repay those debts ahead of other creditors.
He did this "by making several cash withdrawals despite knowing he was insolvent", according to The Insolvency Service. Guthrie has now accepted a six-year bankruptcy order at Stoke County Court, which runs until May 2028.
The ruling means Gurthie is the subject of numerous restrictions, which include being unable to borrow more than £500 without disclosing his bankruptcy status, and being prohibited from acting as a company director without a court's consent.
Insolvency Service official receiver, Kevin Read, said: "Danny Guthrie's actions were deliberate in dissipating assets, at a time he was already insolvent, and to the loss of his creditors. This extension of bankruptcy restrictions should serve as a warning that the Insolvency Service will take action to tackle such financial wrongdoing."
Guthrie's last-known address was thought to be Damac Towers in Dubai. The ex-Newcastle midfielder is currently working as a senior coach with The Football Academy (TFA) over in the United Arab Emirates.
- Premier League
- Liverpool FC
- Newcastle United FC
- Bolton Wanderers FC
- Blackburn Rovers FC
- Reading FC
Source: Read Full Article