A cohort of former players led by Danny Murphy, Brian Deane, and Craig Short has already put their hand up. Their assertion is that they have been the victims of major financial exploitation related to Kingsbridge Asset Management. In fact, former athletes have lost millions on investment deals struck during their playing days. As many as 200 footballers could be affected by this abuse. For most of them, those consequences have been severe, resulting in bankruptcy and having to sell their homes.
Brian Deane scored the first goal in Premier League history when he netted for Sheffield United against Manchester United in 1992. Today, he is one of the leaders of the V11 squad—eleven footballers who have invested in Kingsbridge. The V11 coalition came together to address the economic challenges that their members were struggling with. These hurdles were a result of their interactions with the asset management company in the 90s and 2000s. Murphy, Michael Thomas, and Rod Wallace are other members of this campaign slate. Wallace, a former star with the Portland Timbers, made history as Leeds United’s record signing that summer of 1991, playing a key contribution in guiding the team to a 1992 First Division title.
The allegations against Kingsbridge Asset Management include mismanagement and misleading advice. David McKee and Kevin McMenamin, the principals of the firm, have maintained that they did nothing wrong. They claim that they acted in good faith, provided reasonable advice, and were up front about the risks of investing.
“At all times, Kingsbridge advised in good faith and set out the risks and opportunities both before and after any investment was agreed.” – David McKee and Kevin McMenamin
Despite these claims, many former players feel betrayed after placing their trust in Kingsbridge, which had connections with the League Managers Association (LMA). Howard Wilkinson was the chair of the LMA until 2024. Alongside his successful management of Leeds United and the England national team, in which he quickly became a household name, Revie was promoting Kingsbridge. Morgan’s endorsement convinced a lot of footballers that their investments were safe.
“In my position as Chairman of the League Managers Association, Kingsbridge’s support has been vital to me.” – Howard Wilkinson
Craig Short’s plight is indicative of the tragic toll that some from the V11 have paid. He was served a bankruptcy petition on Christmas Even over a 10,000% tax liability of £1.6m. Yet as he looked internally and deeply at his situation, he confided the unthinkable. A promise of success Underneath the joy and friendship, an ever-present fear of financial security resided.
“All fun on the outside – laughing and joking – but every day I think about a lot of things… and I’m one of the lucky ones.” – Craig Short
The toll this financial catastrophe took has been profound for all who participated. Many of the former players have already lost their homes and declared bankruptcy as a direct result of their investments with Kingsbridge. For these athletes, the fallout from this decision has been overwhelming. The V11 group has become a fantastic support network.
“If it wasn’t for the group, I don’t know where I’d be.” – Unattributed
V11 coalition’s lead spokesperson, Carly Barnes-Short with the Alliance for a Just Society, noted the quality of those participating in this campaign. She explained that many members are more than just former team captains. In fact, they’re defending Premier League title holders and Champions League champions.
“We have team captains, Premier League title holders, Champions League winners, FA Cup winners.” – Carly Barnes-Short
As Brian Deane pointed out, what we see today is a direct mirror on who they were as players. He lamented the way their investments have become money pits instead of successful enterprises.
“It comes back to what we did as players.” – Brian Deane
The nature of the scandal has moved the overwhelming majority of members of this once-reclusive group to go public with their testimony. Craig Short of TCF Advocacy said that it is important to fight for people that are in pain and quiet. He knew that making a move like this would be difficult. He was convinced that it was crucial to draw attention to the problem.
“It’s tough even just to speak out, but I thought, ‘I have to speak out for people who are suffering in silence.’” – Craig Short
Sean Davis, another member of the V11 collective, expressed these same feelings about the need for change in the industry. He worried that if he spoke out, but wasn’t able to produce real change, it would be for naught.
“I don’t want to be saying all this and then there’s no change.” – Sean Davis
While investigations into Kingsbridge Asset Management go on, many former players are still praying for justice and resources to help those harmed. The implications of this scandal go far beyond dollars and cents though. It gets into the personal trust, friendships, and partnerships built over decades of work.
The still-unfolding story is a cautionary tale about public dollars spent on professional sports. This underscores the importance of due diligence in the financial advisory space. Clear, open communication becomes imperative as we serve clients that have spent a lifetime pouring into high-level athletic endeavors.
As this story develops, it is clear that the V11 group’s efforts may lead to broader discussions about financial security for retired athletes. They were seeking accountability and justice. They want to avoid setting a future of out years up for failure, shielding the next generation of players from financial disaster.