Former England striker Emile Heskey was reportedly facing potential bankruptcy this week following news the celebrity investment scheme he was involved in is at the centre of a £1.6billion tax dispute.
According to The Sun, Heskey has been hit with a High Court bankruptcy petition filed by HMRC.
The report points out that the 45-year-old had been found to have defaulted on £92,000 of tax while working as a football development officer between the years 2017 and 2020.
He was slapped with a £42,000 penalty while a bar he ran with his wife in Cheshire had been wound up by the courts with £163,000 debts.
Emile Heskey was reportedly facing bankruptcy
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Heskey is one of many high-profile stars to be involved in the celebrity investment scheme, reportedly run by Ingenious Media.
The likes of David Beckham, Robbie Williams, Steven Gerrard and Jamie Carragher were also said to be investors in the scheme.
It's claimed they were required to stake a minimum of £50,000 to enter the scheme and clients were reportedly given assurances they would have been able to 'claim tax relief against their payment'.
Heskey retired from professional football in 2016 after a brief spell with Bolton Wanderers.
A few years later he returned to Leicester to work with their women's side in an ambassadorial and mentoring role before taking over as their head of football development.
He's also been working with the England Under-18 side for the past few months.
Heskey admitted last year that he could see himself coaching in the women's game for years to come.
He said: "Quite honestly, I’d love to stay part of it.
Emile Heskey has been working with Leicester's Women's side since 2020
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"I don’t know what the future will bring but it would be nice to play a part in continuing the team’s progression.
"I know how ambitious the club is about the women’s team, and the thought of being part of their first season in WSL 1, seeing them play games in the King Power, definitely excites me.
"It’s also nice to be part of the wider progression of women’s football, and hopefully getting it to a level that it should have been at years ago."
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Emile Heskey retired from playing in 2016
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Ingenious companies have been involved in a long legal fight with HMRC over allegations of the tax avoidance scheme.
The group were not granted permission in 2022 to take their legal fight forward in the UK.
The court ruling meant that HMRC were able push forward in collecting tax owed by the partners of the companies who had not yet settled their liabilities.
The total sum was said to have stood at around £1.6billion.