A group of former Premier League footballers say that they have lost tens of millions of pounds because of poor financial advice.
The footballers were advised by the Norton Briggs Group in the 1990s and 2000s. The players lost amounts between one and forty-two million pounds each, although fortunately these losses can be offset against other profits for tax purposes.
We managed to corner Art Daly and Barry Lovejoy, who ran NBG. They deny any wrongdoing and say that they were always on the ball. They told us: ‘At all times, NBG advised the footballers in good faith and set out the risks and opportunities both before and after any investment was agreed. We back our advice 110% - front and centre. We definitely expected to make a net profit. We are surprised that our clients are now facing penalties.'
One footballer told us, ‘I wish we’d invested in bogus shares, or imaginary gold mines, or pretend vintage wines or NFTs or even the NFT, or dodgy real estate. Any of those would have been a better story. I don’t get any bragging rights from telling people that millions of pounds of my money was wasted on investments in top British football clubs, and that I got bugger all back.’
Image credit: perchance.org
