Investment? Fraud? More than 200 BBC victims, some bankruptcies...broke EPL stars
Sep 03, 2025
|
Former Premier Leaguers have been found to have lost tens of millions of pounds in financial investment. On the 3rd (Korea time), the BBC introduced them through a documentary called 「Fiscal Humiliation of the Soccer World: The V11 Story」.
V11 refers to 11 representative players who invested in Kingsbridge wealth management in the 1990s and 2000s. Danny Murphy, who was a member of the V11, said he lost 5 million pounds (about 9.3 billion won) due to false investment advice. In addition to Murphy, up to 200 people reportedly lost money, with some reportedly leading to real estate foreclosures or bankruptcies.
Kingsbridge Wealth Management, founded by David McKee and Kevin McMenamin, was an investment advisory firm with numerous players as clients. Numerous players, including striker Brian Dean, who played for Manchester United, have knocked on the company's door for life in retirement. Kingsbridge's customers grew as it went viral among players, with former England manager Howard Wilkinson also writing in support of Kingsbridge.
Kingsbridge encouraged customers to invest in 1997 when the UK Treasury introduced tax cuts on investments to promote the film industry. Some players were encouraged to buy apartments in Spain. In response, the BBC pointed out that `the apartments in Spain belonged to McKee and McMenamin, and over-inflated prices led to customers buying.' Craig Short, a former Everton defender who invested in the development of Charlotte Harbour, Florida, at Kingsbridge's recommendation, "It was a property of no value. I took out a mortgage and invested, but I couldn't afford it", he confessed. Since then, when the British government has started collecting taxes on film industry investment because it has turned into a financial product, numerous players have gone bankrupt.
In response, McKee and McMenamin took to the BBC to argue that 'We have always advised with all our heart and explained the investment risks' while the loss of customers is very regrettable, it was caused by changes in UK government policy and the 2008 global property market crash'. They were arrested and investigated by London police in 2018, but were found not guilty after a two-year investigation 'insufficient evidence'.
The lives of bankrupt athletes are a series of misfortunes. Midfielder Sean Davis, who played for Fulham, told the BBC: "I was really shocked when the tax bill flew in. I'm happiest when I drink, but I'm the hardest when I wake up the next morning." Oxford United head coach Craig Short said: "Executive officers showed up at the training ground, and they received a bankruptcy application on Christmas Eve" he said. The BBC introduced 'Some of them are engaged in legislation to exempt them from tax due to criminal damage'
This article was translated by Naver AI translator.
