Saturday, March 29, 2025
Former Premier League players say manipulative schemes trapped them in debt and led to aggressive HMRC action, prompting demands for accountability.
The financial grooming of footballers has sparked outrage, as former stars stepped forward to reveal how manipulative advisers led them into disastrous investment schemes. As a result, many now face crushing tax bills and emotional trauma. On Monday, lawmakers, campaigners, and retired athletes united in Westminster, calling for a full investigation into the exploitation of young footballers during their careers.
For over three hours, victims shared emotional stories of how advisers lured them into high-risk schemes that collapsed. These failed investments have left many players not only financially ruined but also struggling with anxiety, depression, and damaged personal lives.
The financial grooming of footballers dominated the launch of a new parliamentary group on investment fraud. Former England internationals Danny Murphy and Brian Deane joined the discussion, shedding light on their personal experiences with deceptive schemes.
Murphy described being hit with a £2.5 million tax bill after trusting advisers who promoted a film investment scheme. Although the scheme promised tax breaks, it ultimately failed. “Football clubs were the perfect hunting grounds for these predators,” Murphy said. Players often relied on older teammates and coaches, who unknowingly guided them toward financial traps.
Murphy stressed that he never intended to avoid tax. Instead, he said he fell victim to calculated manipulation. “It’s not footballers being reckless,” he explained. “It’s young men being groomed. That shame isolates you. Some have gone through hell—and others still live there.”
He also shared that many former players now suffer from mental health issues and broken families. In his view, HMRC has failed to address the real culprits behind the fraud. “They don’t seem willing or capable of chasing the actual criminals,” he said.
Brian Deane echoed Murphy’s concerns. He said the aftermath of these financial disasters pushed some players to the brink of suicide. “I’ve seen it destroy marriages and cause lasting damage to health,” he revealed.
Labour MP Alex Sobel agreed with the former players. He condemned HMRC for chasing what he called “victims of financial grooming.” According to Sobel, players trusted professionals, only to lose everything.
Lady Newlove, the victims’ commissioner, and Deputy Speaker Caroline Nokes also voiced their support for a policy overhaul. They argued that victims deserve empathy—not penalties—for falling into well-constructed financial traps.
Meanwhile, Lord John Mann criticized HMRC for pursuing so-called “notional income”—profits that never existed. “This money was imaginary,” Mann said. “Yet HMRC still hounded these individuals. It shows the department doesn’t have the tools to handle complex fraud.”
In response, HMRC issued a statement. “We sympathise with people who may have lost money through such arrangements,” the spokesperson said. “We assess every case individually and take taxpayers’ wellbeing seriously. Anyone concerned about a tax bill should contact us as soon as possible.”
However, critics argue that sympathy isn’t enough. They are demanding concrete action—including an independent investigation and better protection for athletes vulnerable to financial grooming.
