English Premium League could be the most expensive soccer league in the world where players enjoy millions of dollars every year, but there is a dark secret of this popular soccer league as well, and that is, three out of five EPL players go bankrupt with five years of their retirement. It is revealed in a survey done by Xpro, the charity of ex professionals, which is a shocking fact about the most exaggerated soccer league. These findings are more outrageous when it comes to know that an average EPL player makes more than thirty thousand pounds per week, but his lifestyle and extra spending make him lost his financial control especially after the retirement. During career, players did not realize how much they are earning and what are their expenses, but after retirement, they find it very difficult to carry on their lifestyles as before. Xpro, whose ultimate objective is to help advising retired players about their financial control and making them sound enough to avoid insolvency, has researched more than hundreds of players to come out on these results.
Another interesting discovery of the survey is that one third of the married EPL players also file for a divorce within twelve months of their retirement. It means, players are also finding it difficult to continue their relationships during their off days. Recently, we have seen through media reports that how some biggies of recent times failed to submit few hundred dollars of fine and pleaded for a waiver citing their deteriorated financial conditions. Geoff Scott, the chief executive of Xpro said, “Our database shows three in five players go bankrupt within five years, and that coincides with one in three getting divorced within 12 months. Often they are advised by the wrong people and, before they know it, their assets have disappeared.
“Even if they manage careers in the media or on the after-dinner circuit, some aren’t aware they need to put money away for the taxman. It might sound incredible to normal fans – but it can and does happen.”
Players who have faced financial difficulties in recent times include Keith Gillespie, Colin Hendry and Lee Hendrie. These were the household names during their peak, but they lost their financial momentum post retirement. The findings could be subjective for many, but it is also true that there is always a dark shadow under a lightning source and EPL is one of them.