Former Arsenal, Liverpool, and Birmingham City winger Jermaine Pennant faced bankruptcy after squandering an estimated £10 million fortune earned during his professional football career. Once a promising talent eyed for England caps, including a Champions League final appearance with Liverpool in 2007, Pennant became a journeyman, rarely staying long at any club.
Financial Ruin and Mounting Debts
Courts declared Pennant bankrupt in January 2023 amid debts exceeding £1 million owed to HMRC, banks, councils, and utility providers. The 43-year-old ex-player funded a lavish lifestyle with fast cars, luxury homes, and extravagant holidays, admitting his poor money management led to the downfall.
Pennant reflected, “In all honesty, I could have been a billionaire and still f****d it up. I have made so many mistakes but I did not know how to deal with things and would not think of the consequences of my actions.”
A divorce from wife Alice Goodwin compounded losses as financial pressures mounted.
Forgotten Mansion and Health Challenges
In 2024, Pennant received diagnoses of ADHD and PTSD stemming from childhood trauma. These conditions contributed to him forgetting ownership of a six-bedroom Cheshire mansion bought for £1.2 million. While playing for Real Zaragoza in Spain, he continued interest-only mortgage payments on the unoccupied property, which a drug gang later occupied and damaged in a fire.
Prison Sentence Shakes Early Career
Pennant’s troubles peaked earlier during his 2005 stint with Birmingham City. He served 30 days of a 90-day sentence for drunk driving while disqualified, initially claiming to be friend Ashley Cole when arrested.
Recalling the ordeal in a 2025 interview, Pennant shared his shock: “The worst thing I could’ve dreamt of happened. I thought: ‘That’s it, I’m done, my career’s done’. I was in a state of shock. I was like: ‘This is not happening – is there a way I can appeal?'”
He described the transition from Premier League stardom to Category A prison: “I think I cried the fourth day in. The first two or three days were pure shock… How am I sitting in a prison cell like I’m some terrorist, murderer, rapist, because that’s who I was amongst.”
Pennant later explained his bankruptcy stemmed from years of poor choices, including disputed tax bills: “The bankruptcy did not happen overnight. It came from years of bad decisions and ignoring things… I had no idea what I was earning and what was coming out of my account.”
