Former professional footballer, Danny Guthrie, has been given six-year bankruptcy restrictions after choosing to repay gambling debts ahead of other creditors, while in the knowledge that he was insolvent.
Guthrie, who made more than 200 appearances in the Premier League and Football League for clubs including Newcastle United and Liverpool, borrowed £75,000 from a friend in 2019. He subsequently fell into £120,000 of gambling debt.
After making £160,000 from the sale of a property in August 2020, Guthrie “chose to repay his gambling debts ahead of other creditors by making several cash withdrawals despite knowing he was insolvent.”
Guthrie – now a coach with The Football Academy in Dubai – accepted a six-year bankruptcy undertaking, placing him under various restrictions. As a result, he cannot “borrow more than £500 without disclosing his bankrupt status”, nor can he “act as a company director without the court’s permission.”
The 35-year-old came through the youth teams at Manchester United and Liverpool before playing for a string of clubs in England, Indonesia and Iceland. He played four times for England Under-16s.
In relation to this case, the Official Receiver at the Insolvency Service, 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 is not the first, nor the most high-profile former sportsperson to hit the headlines due to bankruptcy – this announcement comes only a few weeks after former tennis player Boris Becker was sentenced to two and a half years in prison for bankruptcy offences.
Guthrie’s bankruptcy undertaking runs until May 2028.
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