Ex-Bolton, Newcastle, Reading, Blackburn player Danny Guthrie has now been made bankrupt over racking up a £120k gambling debt.
In May 2019, the 35-year-old, borrowed £75,000 from a friend to pay his expenses, promising to repay the loan after selling a home.
But before that, he ran up the gambling debts, and when he sold the property in 2020 for £160,000, he chose to repay those debts ahead of other creditors.
Former Newcastle United midfielder Danny Guthrie has been declared bankrupt after he racked up £120,000 in gambling debts https://t.co/sOARVl6MBg
— BBC North East and Cumbria (@BBCNEandCumbria) June 15, 2022
Guthrie, whose last-known address had been listed as Damac Towers in Dubai, agreed a six-year bankruptcy order until May 2028 at Stoke County Court.
It means he is under a number of restrictions, including not being able to borrow more than £500 without disclosing his bankrupt status, and he cannot act as a company director without the court’s permission.
A statement from The Insolvency Service said: “In May 2019, Danny Guthrie borrowed £75,000 from a friend to help him pay his household expenses, promising to repay the loan with funds raised from selling a property.
“However, prior to selling the property Guthrie racked up gambling debts of £120,000.
“When he eventually sold the property in August 2020, receiving just over £160,000 in equity, he chose to repay his gambling debts ahead of other creditors by making several cash withdrawals despite knowing he was insolvent.”
The statement added: “Danny Guthrie accepted a six-year bankruptcy undertaking, which runs until May 2028.
“As a result, he is under a number of restrictions, including not being able to borrow more than £500 without disclosing his bankrupt status, and he cannot act as a company director without the court’s permission.”
Kevin Read, official receiver at The Insolvency Service, said: “Danny Guthrie’s actions were deliberate in dissipating assets, at a time he was already insolvent, and to the loss of his creditors.
“This extension of bankruptcy restrictions should serve as a warning that the Insolvency Service will take action to tackle such financial wrongdoing.”
2000–2002 – Manchester United
2002–2005 – Liverpool
2005–2008 – Liverpool – 3 games (0 goals)
2007 → Southampton (loan) – 10 games (0 goals)
2007–2008 → Bolton Wanderers (loan) – 25 games (0 goals)
2008–2012 – Newcastle United – 92 games (7 goals)
2012–2015 – Reading – 62 games (5 goals)
2015 → Fulham (loan) – 6 games (0 goals)
2015–2017 – Blackburn Rovers – 40 games (1 goal)
2017–2018 – Oakengates Athletic
2018 – Mitra Kukar – 29 games (2 goals)
2019–2021 – Walsall – 39 games (1 goal)
2021– Fram – 16 games (0 goals)
2002–2003 – England U16 – 4 games (0 goals)
Are you a problem gambler?
Try this questionnaire:
- Do you bet more than you can afford to lose?
- Do you need to gamble with larger amounts of money to get the same feeling?
- Have you tried to win back money you have lost (chasing losses)?
- Have you borrowed money or sold anything to get money to gamble?
- Have you wondered whether you have a problem with gambling?
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If your total score is 8 or higher, you may be a problem gambler.
Read about gambling addiction, its effects and treatment options, and where to get help.
Royal College of Psychiatrists Leaflet
This leaflet is for anyone who is worried about their gambling and the families, partners and friends of anyone whose gambling has become a problem.
Helpline: 0808 8020 133
www.gamcare.org.ukA confidential counselling, advice and information service for people affected by an gambling dependency, including family and friends of compulsive gamblers.
Be Gamble Aware
Helpline: 0808 8020 133
The National Gambling Helpline gives confidential information, advice and support for anyone affected by gambling problems in England, Scotland and Wales. You can speak with our Advisers one-to-one over the phone or on live chat 24 hours a day, every day of the year. We will listen to what is going on for you, and talk through options for support in your local area, online or over the phone.
Gamblers Anonymous (UK)
Helplines: See contact page for regional phone numbers.
Provides information about a fellowship of men and women who have joined together to do something about their own gambling problem.
Gam Anon & Gam Anon Scotland
For anyone affected by someone else’s gambling.
Gordon Moody Association
For all application enquiries call 01384 241292
Gordon Moody Association is a registered charity with over 40 years experience in providing residential support and treatment for people who are severely addicted to gambling. We have two treatment centres, one in the West Midlands and the other on the Kent/London borders.
Our specialist approach and experience since 1971 has allowed us to develop treatment interventions that are purely gambling focused whilst also addressing the extremes of the associated behaviours often experienced by problem gamblers.