Life after football doesn’t always come with the fairy-tale ending fans imagine.
For John Barnes, one of England and Liverpool’s most celebrated players, the years after retirement became a long and painful lesson in money, trust, and responsibility.
Now 62, Barnes has spoken candidly about how a string of misguided investments slowly pushed him into serious financial trouble, eventually leading to bankruptcy.
How £1.5 Million in Debt Built Up
Barnes was officially declared bankrupt in September after his media company, John Barnes Media, collapsed with debts totaling £1.5 million.
The firm has since been liquidated, and the financial fallout also saw Barnes banned from serving as a company director for three and a half years.
This wasn’t his first brush with financial distress.
Since 2010, Barnes has faced six separate bankruptcy petitions.
Back in 2009, he was declared bankrupt once before, though he later explained that situation was due to what he called a “tax oversight,” and the order was eventually overturned.
Years of Paying Back the Taxman
Rather than walking away from his obligations, Barnes insists he spent nearly a decade trying to make things right.
He revealed that since 2017, he has been repaying HM Revenue and Customs and has already paid back around £2.2 million. Even now, he continues to send £10,000 every month.
According to Barnes, almost everything he owned was sold off to meet these payments.
Properties, assets, and investments were gradually cashed in, all in an effort to show that he was doing his best to settle what he owed.
The Investments That Went Wrong
Speaking on The Overlap’s Stick to Football show, Barnes explained that his financial problems didn’t come from reckless spending but from trusting the wrong people with his money.
He admitted he was persuaded into multiple investment schemes across the globe, many of which failed spectacularly.
One of the most unusual? Brazilian coffee.
Barnes compared his experience to the infamous “V11” group of former footballers who lost millions after being encouraged to invest in Kingsbridge Asset Management in the 1990s and early 2000s.
While he says his situation wasn’t identical, the pattern was familiar.
“People Kept Coming With Schemes”
Barnes explained that while his agent handled football matters, financial opportunities came from elsewhere.
He said people would approach him with ideas, pitching one scheme after another.
Among them were investments in Brazilian coffee and property ventures such as villas in Florida.
Unlike some former players, Barnes didn’t pursue legal battles to recover his losses. Instead, he absorbed the damage and moved on.
By the time his playing career ended and a major tax bill landed on his desk, he was already behind and struggling to catch up.
Why He Didn’t Declare Bankruptcy Earlier
Looking back, Barnes admits that filing for bankruptcy earlier might have left him in a stronger position financially.
He believes that had he taken that route in 2017, he could have kept around £2 million and rebuilt more comfortably.
But pride and principle stopped him.
Barnes said he didn’t want to be seen as someone avoiding his responsibilities, especially when so many ordinary people struggle to pay everyday bills.
For him, continuing to pay the taxman felt like the right thing to do, even if it cost him nearly everything.
“I Wanted People to Know I Tried to Pay”
Barnes pushed back against the idea that he was dodging taxes.
He explained that from 2017 onward, every penny he earned went toward settling his debts.
Houses were sold, investments were cleared out, and his lifestyle was stripped back.
When the final tax demand arrived last year, he believed his long record of repayments would count in his favor.
Instead, he described the authorities as “overly aggressive,” leaving him with no option but to declare bankruptcy.
Today, he says he still has his house and his car, but little else. No investments. No hidden assets. Just the basics.
A Different Era for Today’s Players
Barnes also reflected on how much football has changed.
He believes modern players are far better protected financially, thanks to structured advice and education from a young age.
In his era, financial guidance often came from friends or acquaintances who “knew somebody,” rather than trained professionals.
That lack of proper advice, he says, played a huge role in the mistakes many players of his generation made.
Remembering a Glittering Career
Despite his financial struggles, Barnes’ football legacy remains untouched.
He earned 79 caps for England and enjoyed legendary spells with Watford and Liverpool.
In 1988, he was named Player of the Year as he helped Liverpool win the First Division.
During his time at Anfield, he won two league titles, two FA Cups, and a League Cup.
He later played for Newcastle and Charlton and went on to manage Celtic, Jamaica, and Tranmere.
Today, he serves as a global ambassador for Liverpool.
Looking Ahead With Honesty
Barnes’ story is less about regret and more about realism.
He doesn’t deny the mistakes, but he also doesn’t shy away from explaining why he made the choices he did.
For him, the priority was always to be seen as someone who tried to do the right thing, even when the personal cost was enormous.
As he puts it, that’s just life.
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