Premier League legend faces financial probe following bankruptcy woes
A former Premier League star who has been declared bankrupt now faces an interview by financial investigators.
The Mirror told how Lee Clark, 52, who played for Newcastle United, Sunderland and Fulham, was made bankrupt after a claim by a finance firm called One Stop Business based in York. The former midfielder's assets are being frozen under the control of the Insolvency Service.
His bank accounts, savings and other valuable assets could be used to pay his unsecured creditors if he does not address the debt. The Insolvency Service investigators will now quiz him about his assets, including his £2m mansion in Jesmond, Newcastle, to see how he can meet his debts.
A Mirror probe revealed that Clark's property company had paid One Stop the proceeds of a sale of a development in Wigton, Cumbria, a sum of £314,000.
But he was made redundant over a loan to him as an individual. His previous companies and this personal insolvency are not linked. The investigators will prepare a report for Lee's creditors, in this case One Stop Business Finance. He will remain bankrupt for 12 months unless he can repay the debt.
He may enter into an Individual Voluntary Payment (IVA) agreement, following in the footsteps of Katie Price, Lawrence Dallaglio and Rob Cross, the darts player.
If he has money in his accounts to settle the debt, the insolvency service can take it in order to pay his creditor. Fellow sports stars Bradley Wiggins, Frankie Detorri, Lawrence Delagllio, John Barnes and the darts player Rob Cross have all been declared bankrupt in recent months. sport stars receive financial advice and just go along with it.
Cross set about making it right and entered into an Individual Voluntary Arrangement to repay the money. He said: "It's not the proudest moment of my life. I've done wrong, and I'll hold my hands up to it.
"Going down this route with the IVA to pay the money back means I'm not running...you make mistakes in life. Frankie Dettori, one of the most successful and popular racing figures of recent decades, said that he was 'saddened and embarrassed' at being forced to file for bankruptcy having failed to resolve a dispute over unpaid tax with HMRC.
Dettori was revealed to be in dispute with HMRC over a scheme to reduce his income tax payments in December 2024, when an injunction to prevent him being named was lifted following an application by HMRC and media organisations.
Dettori said in a statement. 'Regretfully, I will be filing for bankruptcy. I am saddened and embarrassed by this outcome and would advise others to take a stronger rein over their financial matters." Asked about being made bankrupt, he said: "I have no idea," before going back into the property.
When we called again, he added: "I have no comment to make. I know nothing. Don't keep pressing the buzzer."
Clark, who made over 200 appearances during two spells at Newcastle United, also enjoyed successful promotions into the Premier League with Fulham and Sunderland. He played more than 400 top flight games and represented his country with England under 21s. He made a high profile £2.5m move to Sunderland in 1997.
But he angered their fans during his time under manager Peter Reid. He was spotted wearing a T-shirt bearing a derogatory slogan aimed at 'Sad Mackem B******s' at the 1999 FA Cup final. He did not play for the club again.
He then moved to Fulham before a brief return to Newcastle Utd. After his playing career ended in 2006, he was manager at Huddersfield, Birmingham City and Blackpool and also had spells in Sudan and Oman. He also worked as at TV pundit, including stints with the BBC. His son Bobby played for Liverpool before joining RB Salzburg.
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