Former Arsenal and Liverpool star Jermaine Pennant has been declared bankrupt after accumulating over £1m debt.
After a glittering football career in which he played for top Premier League clubs, Jermaine Pennant has slipped into a loophole of financial crisis.
To cap his financial woes and the drastic upturn in fortunes, he has been declared bankrupt with an order from
Birmingham County Court to that effect.
Birmingham County Court reportedly issued a bankruptcy order which will last for a year for the ex-Premier League star. He reportedy owes money to creditors including HMRC, councils, banks and utility companies.
After his glittering football career, Jamaine Pennant ventured into the media space, and was quick to gather fame due to his subsisting fan base drawn from his football career. He starred in Celebrity Big Brother and forge ahead with his new found vocation, establishing Jermaine Pennant Ltd.
However, his financial problems increasingly spiraling out of control led to the dissolution of the media company in 2020.
He also defaulted on his mortgage payments, and has a stacks of loans watining to be cleared with both formal financial organizations and individuals.
‘He owes stacks of cash all over the place and his debts has risen into seven figures, with taxman and banks claiming huge figures,” a source told The Sun.
Now, he will likely have some of his properties taken over after he defaulted on his mortgage payments.
In October, it was revealed that Jermaine Pennant had to abandoned his mock Tudor home in Cheshire, which was converted into a cannabis farm, before he was arrested.
He assumed ownership of the property in 2006, but it stood empty from 2020 following his split from then-partner Alice Goodwin supposedly due to tensed relationship.
Apart from his serial debt crisis, Jermaine Pennant reportedly has links with illicit organizations that has compounded his woes, making things difficult for the ex-Premier League midfielder.
The £3million home, near Liverpool’s John Lennon Airport, was burnt to ashes on two separate occasions after deadly and menace-looking drug gang overtook the property.
Jermaine Pennant’s career was less heroic, but he had a largely fruitful football career save his financial voodoo.
He played for Arsenal, Birmingham, Liverpool and Stoke, and other clubs before calling it quits in 2017.
Now, it appears, he had to brave through his current ordeal after a seeming reckless financial decisions and alliance with illicit organizations.
Jermaine Pennant
Born in Nottingham, Jermaine Pennant started his football career playing for his local side Notts County as a teenager. Towering above his peers and showing great mastery of the game, he was scouted out and signed by Arsenal in 1999.
At the Emirates Stadium, Pennant struggled and was loaned to other clubs, where he gain a foothold on top flight football.
As an Arsenal player, Jermaine Pennant made 24 apperances for England U-21 national team and rose to prominence while playing as a probatory player in 2005.
He joined Liverpool in 2006 for £6.7million and won the community Shield for the Reds. He was just inches away from being a Champions league winner, playing a great role in Liverpool’s run to the Champions League final in 2007, where they lost to AC Milan.
