Footballers face £100m meltdown

bigfreddiel

So, a few mega-rich footballers were advised to invest in film schemes and property ventures are facing total losses of £100m.

They were advised by financial advisors from Kingsbridge Asset Managers, who earned more than £5m in commission to set up the investments.

So who is at fault here? The footballers say they feel aggrieved and duped.

The advisors say they advised their clients of the suitability and risks, and that these investments should be part of a balanced portfolio.

interesting situation, but yet again I guess the advisors are right, surely it cannot be their fault if the client cannot understand the advice.

If it had all gone well no doubt the client wouldn't have complained.

Cheers fj

Thrugelmir

Presumably not just footballers involved. Fools and their money.

WannaBLoaded

weren't the footballers investing in fake film companies to avoid tax?

Futuristic

Tax evasion at its finest.

Marktheshark

Giving your money to any "expert" usually ends the same way, be it a pension, endowments, remember them, investments, get rich quick schemes.
The reason you lose your cash is because the people you give it to are living the life of Riley now whilst you are sat waiting for Jam tomorrow.
They are spending your cash !

Glen_Clark

Thrugelmir wrote: »

......footballers involved. Fools and their money.

Fit as a butcher's dog... but not as intelligent
I don't like to see them ripped off though - football is a short career so they are unlikely to get the chance to earn it all back.
I have no interest in football, but have no problem with the amount paid to footballers because none of it comes from me.:) Thats because we have a choice of whether or not to contribute to football.:) Wheras we have no choice of whether or not to contribute to the greater amounts paid to Royal Family Hangers On etc :mad:
Even though I have no interest in watching footballers, I think they must be worth their money because other people chose to pay them. I only wish people would pay £millions to watch me - I wouldn't turn it down. :cool:

masonic

Glen_Clark wrote: »

I only wish people would pay £millions to watch me - I wouldn't turn it down. :cool:

I imagine that might depend on the situation...

gardner1

made me laugh when one of them said the £2.5 million was invested for his kids future......wish I had that sort of money to invest in my kids.... I suppose they will have to stand on their own two feet and work for it

now they are all moaning about being sold...bless them for losing all that hard earned cash:D

did nobody tell them the golden rule "investments can go up and down":rotfl:

gardner1

" football is a short career so they are unlikely to get the chance to earn it all back"

oh please don't feel sorry for them..these guys earned shed loads of money and wanted more by tax fiddling

they will just have get some more well paid work on BT SPORT/MOTD/SKY......poor loves will have to work till 50

Linton

What a surprise - according to the FCA regisater it appears that Kingsbridge Asset Management is "no longer authorised to provide regulated products". This status dates from 2010.

WannaBLoaded

It serves the footballers right to be honest, they are just being greedy. If you had 2.5 million spare, its a safe assumption you've got a lot more millions in assets and a massive salary.

They could have bought 10 modest houses and held onto them for twenty years, that would have doubled or tripled their money for their kids haha. They obviously want ££££££££££££££££££££

Even if football is a short career, it gives them plenty of money to invest in sound business that will make them money rather than mega risky business looking to make tens of millions.