Sven-Göran Eriksson, the renowned football manager, passed away in August of last year at the age of 76. Prior to his death, Eriksson bravely announced that he was terminally ill with pancreatic cancer. His legacy, however, extends beyond his illustrious career, as he left an impact on the financial world as well.
According to his will, Eriksson’s estate was valued at 4.8 million pounds. However, it was revealed that he owed a significant amount of debt, totaling 8.64 million pounds. The majority of this debt was attributed to tax liabilities in the UK, with a staggering 7.25 million pounds owed to HM Revenue and Customs (HMRC). This comes as no surprise, given that Eriksson had previously disclosed a loss of 10 million pounds due to financial mismanagement by an advisor.
Eriksson’s time as England’s manager from 2001 to 2006 brought him great success, but even during this period, he admitted to having little knowledge of his financial affairs. This unfortunate situation serves as a stark reminder of the importance of prudent financial management, even for those with substantial earnings.
($1 = 0.8182 pounds)
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