Match of the Day pundit Danny Murphy has opened up on the devastating financial losses he endured during and after his football career, revealing he lost as much as £5million through failed investments and poor financial advice.
The former Liverpool and Tottenham midfielder is part of the newly formed V11 campaign group, which includes 11 ex-professionals who claim to have been exploited by Kingsbridge Asset Management during the 1990s and 2000s.
In the BBC’s documentary Football’s Financial Shame: The Story of the V11, Murphy described the impact of those investments and the emotional toll that followed.
“I've lost four, maybe five million pounds,” Murphy admitted.
Danny Murphy's life fell apart after his financial investments
| PA“The financial abuse I've suffered has caused me monumental problems.
"It's the shame, embarrassment and guilt of getting yourself in a position that you think you're better than.”
Murphy is far from alone. Around 200 footballers are believed to have been affected by similar schemes, including Wayne Rooney and Rio Ferdinand.
Many are now facing further tax bills despite having been told they were “victims of crime.”
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For Murphy, the fallout after retirement in 2013 was particularly severe.
The former England international has spoken before about how the financial mess contributed to depression, alongside the sudden absence of football’s structure and adrenaline.
He turned to alcohol, gambling and drugs as his personal life unravelled.
Murphy, back in 2021, explained how easily footballers can be targeted by supposedly reputable advisers.
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Danny Murphy believes footballers can be exploited for financial gain
| BBC“Footballers are usually working-class guys with little experience or knowledge of financial matters,” he wrote for the Daily Mail.
“So you have this whole industry of men in smart suits, impressive company names, glossy brochures and all the patter promising to look after your earnings wisely.
"Of course, there are some decent financial advisers, but others turn out to be greedy and self-serving.”
He recalled disastrous overseas property deals and being caught up in film schemes marketed as legitimate tax relief.
“I’d worked hard during my short career to provide savings for the rest of my life — and most of it had gone,” he added.
Murphy’s 20-year career brought success on the pitch, including FA Cup, League Cup and UEFA Cup triumphs with Liverpool, as well as stints at Charlton, Fulham and Blackburn.
Yet the end of that chapter left him vulnerable.
“The realisation I wouldn't play football again, combined with the loss of most of my savings, left me suffering from depression,” he said.
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Danny Murphy turned out for the likes of Fulham, Liverpool and Tottenham throughout his career
|PA
“During the dark days, which lasted 12 months, I indulged in drink, drugs and gambling. My marriage broke down, I fell out with my brothers and friends and became really isolated.”
Murphy credits therapy and the support of loved ones with pulling him back from the brink, but he knows others have struggled longer.
He added: “I consider myself blessed in comparison: I know many other ex-players who have struggled for years, some have felt suicidal.”