Footballers use football to tap cash and fame but some of them end up depleting what they have amassed over a long period in a split second.
Governments and football clubs should take the initiative of guiding footballers on how to invest wisely after retiring or after quitting football.
There are many footballers out there who are currently homeless after misusing their money.
Ronaldinho
Brazil World Cup winner and legend Ronaldinho could be regretting living a lavish lifestyle instead of investing while he had a chance to do so.
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His miserable lifestyle led to his arrest in 2020 when he tried to access Paraguay using false documents. He was sentenced to six months in prison.
Despite being broke, Ronaldinho still throws parties whenever he can. It is sad to see that such a talented former football player is suddenly broke after having a wonderful career.
Eric Djemba-Djemba
Former Manchester United and Cameroonian midfielder Eric Djemba-Djemba was declared bankrupt after acquiring a lot of wealth from football and failing to make good use of it.
Djemba-Djemba quit football in 2016 after failing to make an impact in the Indian Super League at Chennaiyin Football Club.
Celestine Babayaro
Former Newcastle and Chelsea FC player Celestine Babayaro was declared bankrupt by the London Gazette on January 2011.
No one knows what led to his bankruptcy as he didn't live a flashy lifestyle as many would have expected when his career was in its prime.
Diego Maradona
The late Diego Maradona of Argentina died a broke man on November 25, 2022, after misappropriating money that he made from playing football.
Before he died, it is alleged that the Italian Tax Authority was demanding a total of £42 million (Sh6.1 billion). The sum was a result of unpaid taxes while he was playing for Italy's Napoli.
Paul Merson
Paul Merson who is a former Arsenal player went broke a few years after announcing his retirement from professional football in 2006.
It has been revealed that Alcohol and women played a major role in speeding up his bankruptcy process after retiring. He was also a betting addict at the time when he was declared bankrupt.