MPs want action for footballers who lost millions

Three parliamentarians are calling for an investigation into the claims that a group of former Premier League players were victims of “financial abuse.”

The V11 campaign group, which includes 11 footballers who made investments with Kingsbridge Asset Management in the 1990s and 2000s, includes Danny Murphy, Brian Deane, and Rod Wallace.

Some players now owe millions in taxes, while others have lost tens of millions of pounds.

The case, according to Lord Mann, Alex Sobel, and Sarah Bool, was described as “a failure of regulation, accountability, and duty of care.”

They were responding to the BBC documentary Financial Shame: The Story of the V11, which aired on Tuesday.

Kingsbridge’s former owners David McKee and Kevin McMenamin have denied any wrongdoing.

Up to 200 footballers may have been affected, with some going bankrupt and losing their homes.

The cross-party parliamentarians asserted that this wasn’t a case of greed or poor decisions.

These men followed advice that they believed to be reliable and saved for their futures, according to what we asked of them.

We think that these victims have been let down by the football industry, regulatory bodies, law enforcement, and other sectors as well as their advisers.

In 2018, the City of London Police opened an investigation.

Two years later, the force stated that there was “insufficient evidence to support a realistic chance of conviction.”

Kingsbridge employees were not the subject of any charges.

A fair and timely resolution to the decade-long tax dispute is what Lord Mann, Sobel, and Bool demand.

Bool claimed she wants to see HMRC implement a “leniency package” for the V11 group.

HMRC stated in a statement that it is “duty to collect tax when it is legally due.”