Liverpool and England football legend John Barnes has been declared bankrupt following a High Court ruling, with debts totaling over £1.5 million linked to his now-liquidated company, John Barnes Media Limited. The bankruptcy notice, published in the London Gazette on September 30, 2025, stems from a petition filed by HM Revenue & Customs (HMRC) in early August, with the final order issued on September 23 in the High Court of Justice. This development marks a significant chapter in the ongoing financial struggles of the former footballer, whose illustrious career on the pitch has been overshadowed by mounting tax debts and poorly advised investments.
According to reports from The Mirror, HMRC revealed that John Barnes Media Limited accumulated debts exceeding £1.5 million. Liquidators’ reports provide a detailed breakdown of the financial obligations, indicating that HMRC is owed £776,878 in unpaid VAT, National Insurance, and PAYE contributions. Additionally, the company owes £461,849 to unsecured creditors and a £226,000 director’s loan, further compounding the financial strain. The collapse of the company has thrust Barnes, a revered figure in football, into a challenging period marked by legal and financial scrutiny.
Barnes, who earned 79 caps for England and was a prominent figure during his time at Liverpool, is no stranger to financial difficulties. Since 2010, he has faced multiple bankruptcy petitions, including one in 2023 over a £238,000 personal tax bill that was settled at the eleventh hour. These recurring issues highlight the complexities of managing wealth amassed during a high-profile career, particularly when compounded by mismanagement or external pressures. In 2023, Barnes was also banned from serving as a company director for three-and-a-half years following an investigation by the Insolvency Service. The probe found that his company had failed to pay over £190,000 in corporation tax and VAT between 2018 and 2020, despite generating a turnover of £441,798 during that period.
Mike Smith, chief investigator at the Insolvency Service, emphasized the broader implications of Barnes’s case, stating that his failure to ensure timely tax payments “should serve as a deterrent to other directors.” The warning underscores the importance of financial accountability, particularly for those managing businesses with significant fiscal responsibilities. The bankruptcy declaration, coming just a month after Barnes publicly addressed his ongoing tax issues, has reignited discussions about the challenges elite athletes face in navigating financial landscapes post-retirement.
In a candid interview on the All Things Business podcast, Barnes sought to clarify what he described as misleading reports about his financial affairs. He revealed that he has been making substantial efforts to resolve his debts, having repaid approximately £2.2 million to HMRC since 2017. Under an agreement with the tax authority, he continues to make monthly payments of £10,000. Reflecting on his financial journey, Barnes explained that his troubles began after being the first footballer to earn £10,000 a week, a milestone that brought significant wealth but also exposed him to risky investments. “Like a lot of elite sportspeople, I got burned because I trusted people,” he said, admitting to losses of between £1 million and £1.5 million over four years due to poorly advised ventures.
Barnes, who resides in Heswall, Wirral, was forthright about the toll of his financial struggles, emphasizing that he has sold all his assets to meet his obligations. “I don’t have any assets,” he stated, countering perceptions that he might be shielding wealth to avoid tax liabilities. He expressed frustration with media portrayals that suggest he is evading taxes, clarifying that his court appearances are not to contest bankruptcy but to seek permission to continue his repayment plan. “Football is a working-class sport, and I don’t want hard-working people thinking I’ve got all this money and I won’t pay tax,” he said. “It would be easy to be made bankrupt because they can’t take anything else from me.”
The narrative of Barnes’s financial woes resonates with broader themes of financial literacy and the pitfalls that often accompany sudden wealth, particularly for athletes whose careers peak early. The pressure to maintain a certain lifestyle, coupled with reliance on financial advisors, can lead to disastrous outcomes, as evidenced by Barnes’s experience. His case is not unique, as many high-profile athletes have faced similar challenges, from boxing legend Mike Tyson to former footballer Paul Gascoigne. These stories highlight the need for better education and support systems to help athletes manage their finances during and after their careers.
Barnes’s openness about his struggles offers a glimpse into the human side of a public figure often celebrated for his on-field heroics. Known for his dazzling wing play and contributions to Liverpool’s success in the 1980s, including two league titles, Barnes remains a beloved figure in football. His 79 caps for England and his role in breaking racial barriers in the sport—enduring abuse while becoming one of the country’s most prominent Black players—cemented his legacy. Yet, his off-field challenges underscore the fragility of financial stability, even for those who achieve extraordinary success.
The bankruptcy declaration raises questions about Barnes’s next steps. While he continues to make monthly payments to HMRC, the liquidation of his company and the public nature of his financial troubles may impact his future endeavors. As a pundit and public speaker, Barnes has maintained a presence in the football world, but the director ban and ongoing debt repayments could limit his business prospects. His case also serves as a cautionary tale for current and future athletes, highlighting the importance of due diligence and financial planning.
For now, Barnes appears committed to addressing his debts and rebuilding his financial standing. His willingness to speak publicly about his challenges reflects a desire for transparency and a rejection of the stigma often associated with financial failure. “I know how hard it is for people out there,” he said on the podcast, acknowledging the broader economic struggles faced by many. By framing his situation within this context, Barnes seeks to align himself with the everyday challenges of working-class fans, distancing himself from the image of a wealthy athlete dodging responsibilities.
As the football world reflects on this latest chapter in John Barnes’s life, his story serves as both a reminder of the transient nature of wealth and a testament to resilience in the face of adversity. While his on-field legacy remains untarnished, his off-field journey underscores the complexities of navigating life after sport. For Barnes, the path forward involves not only financial recovery but also a continued effort to reshape the narrative around his struggles, ensuring that his contributions to football—and his efforts to make amends—are not overshadowed by his financial missteps.
