Former England international John Barnes has been declared bankrupt following the accumulation of £1.5million in debts by his media company.
The 61-year-old former Liverpool star's financial troubles stem from John Barnes Media Limited, which has since been liquidated.
HM Revenue and Customs filed the bankruptcy petition in early August after the company's debts exceeded £1.5million.
The bankruptcy represents the latest chapter in Barnes' long-running financial difficulties, having faced six separate bankruptcy petitions since 2010.
Former England international John Barnes has been declared bankrupt following the accumulation of £1.5million in debts by his media company
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The former footballer's debts include £776,878 in unpaid VAT, National Insurance and PAYE owed to HMRC.
Additional liabilities comprise £461,849 to unsecured creditors, a director's loan of £226,000, and liquidator's fees totalling £56,535.
Despite these substantial obligations, Barnes has maintained regular payments to the tax authority.
The debts stem from his company, John Barnes Media Limited, which has since been liquidated
|PA
Speaking on the All Things Business podcast in August, he revealed he continues to pay £10,000 monthly to HMRC.
The ex-England winger stated he has repaid approximately £2.2m since 2017, when he first entered discussions with the tax authority about settling his obligations.
He has already returned £60,000 towards the director's loan through agreed instalments.
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Barnes attributed his financial difficulties to misplaced trust and poor investment decisions during his playing career.
"I was making a lot of money, I was the first £10,000 a week footballer and benefited from that for a few years," he told the All Things Business podcast.
"Like a lot of elite sportspeople, I got burned because I trusted people, I got caught out a couple of times and ended up losing between £1m and £1.5m over four years."
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John Barnes admitted he doesn't 'have any assets'
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The former winger, who earned 79 caps for England between 1983 and 1995, began negotiations with HMRC in 2017 to establish a repayment plan for his tax obligations.
Barnes has emphasised that he no longer possesses any assets, having sold everything to meet his financial obligations.
"I don't have any assets," he stated during the podcast interview.
The bankruptcy has affected his professional activities, particularly his work delivering talks on inclusion and diversity in business.
He acknowledged that banking and finance companies had stopped booking him for speaking engagements due to the negative publicity surrounding his tax affairs.
Despite facing what he described as "a few sleepless nights", Barnes maintained he remains grateful for his ability to continue working and supporting his family.