Football icon John Barnes has been declared bankrupt due to his company accumulating debts totaling £1.5 million. The bankruptcy notice for John Charles Bryan Barnes was officially announced in the London Gazette on September 30 following a petition by HM Revenue & Customs (HMRC) in early August. The High Court of Justice issued the notice on September 23.
HMRC revealed that John Barnes Media Limited, Barnes’ former company, had incurred debts exceeding £1.5 million, with HMRC being owed £776,878 in outstanding VAT, National Insurance, and PAYE. Additionally, unsecured creditors were owed £461,849, along with a director’s loan of £226,000.
The ex-Liverpool and England winger, who represented England 79 times, has encountered several bankruptcy petitions since 2010, including one in 2023 related to a £238,000 personal tax liability that was settled at the eleventh hour.
In 2023, Barnes, residing in Heswall, Wirral, received a three and a half-year ban from being a company director after an investigation by the Insolvency Service discovered a failure to pay over £190,000 in corporation tax and VAT between 2018 and 2020, despite generating a turnover of £441,798.
Mike Smith, the chief investigator at the service, emphasized that Barnes’ neglect in ensuring tax payments should act as a warning to other directors.
This bankruptcy development comes shortly after Barnes openly discussed his tax issues, emphasizing his commitment to settling his dues. The former footballer, known as the first £10,000-a-week player, acknowledged making payments to HMRC for the past eight years after incurring losses from ill-advised investments.
Addressing his financial challenges on a podcast, Barnes clarified misconceptions about his financial situation and highlighted ongoing efforts to repay his debts. Since 2017, he has repaid approximately £2.2 million and continues to make monthly payments of £10,000 under agreed terms with the tax authority.
Barnes shared his experiences of financial turmoil and the impact of negative media coverage on his professional engagements, particularly in advocating for inclusion and diversity in business. Despite the setbacks, he expressed gratitude for the ability to work, pay bills, and provide for his family, aiming to dispel false narratives and reaffirm his commitment to meeting his financial obligations.
A request for comment has been made to Barnes.