5 footballers who went bankrupt

LONDON, ENGLAND - OCTOBER 11:  David James former England goalkeeper talks during the Leaders In Sport conference at Stamford Bridge on October 11, 2012 in London, England.  (Photo by Tom Shaw/Getty Images)
James has risen above his bankruptcy and is now a panellist for BT Sports

#2 Paul Merson

LONDON, UNITED KINGDOM - APRIL 04: Arsenal player Paul Merson with a drinking celebration after the FA Cup semi final win against Tottenham Hotspur at Wembley Stadium on April 4, 1993 in London, England. (Photo by Allsport/Getty Images)
The player was famous for his drinking celebration

One of Arsene Wenger’s most hardline critics, Paul Merson, a former Arsenal player enjoyed an illustrious career with the Gunners. The player was a part of a league-winning squad and won an FA Cup as well with the Gunners.

Despite being pretty well off by even those days standards, Merson almost came to the streets after losing out on a lot of money. The former Gunner was plagued with alcohol and drug issues on which he spent money upwards of £3 million.

The player was involved in a messy divorce case and had to sell off his house in the West Midlands to finance many of the problems that he was facing. Things have since then improved for him as he now enjoys a stable job as a TV pundit for Sky Sports where he is a regular for Gilette Soccer Saturday.

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