Liverpool legend John Barnes declared bankrupt after company runs up debts of $2 million

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This bankruptcy declaration comes just a month after Barnes candidly discussed his tax woes, stating: "I'm paying what I owe." The star, who was the first £10,000-a-week player, said he has been paying HMRC for the past eight years after suffering heavy losses from poorly advised investments. "In 2017, I began talking to HMRC about what I could do to repay what I owed." He said since then, when he has been served with petitions, he and his legal representatives have gone to court to make arrangements to pay because he does not want to be made bankrupt.

I don't want to say there are loopholes, or that I can get away with this or that, or have people think I can be made bankrupt and keep my assets, because I've already sold everything. "Football is a working-class sport, and I don't want hard working people thinking I've got all this money and I won't pay tax.

"And as long as I am able to work and to pay, I am just thankful. "The only reason I'm doing this is because people have been saying things that are not true, and I don't want anyone thinking of me as John Barnes, ex-professional footballer, hiding all his money and not paying taxes." Barnes has been approached for a response.