David James memorabilia auction shows cost of divorce

By Lenore Rice

David James was an international professional footballer who earned approximately £20million from football and endorsements, but a costly divorce in 2005 led to him being declared bankrupt, and now he is auctioning off all his sporting memorabilia and other belongings.

The former England goalkeeper declared himself bankrupt earlier this year after accumulating large costs in respect of his divorce from his wife Tanya in 2005. At the time of their separation it was estimated that they had £6million in assets. The divorce is said to have cost Mr James £3million plus a share of his earnings. A fall in his income on top of the costs of establishing a new life after separation pushed the former Liverpool star's finances to the limit and in August of this year he filed for bankruptcy.

Fast forward to today and Mr James is now selling all his sporting memorabilia and other belongings, such as a car and music equipment in an attempt to raise finances.

The case highlights just how devastating financially a divorce or separation can be. Business owners or anyone entering a marriage with assets already at their disposal may choose to protect their position with a prenuptial agreement or marriage contract. Prenuptial agreements were given a higher legal recognition as a result of the recent Radmacher divorce case, and there has been an increase in enquiries about the pre-marriage contracts from business owners in Northern Ireland and the rest of the UK.

If you require legal advice from a divorce solicitor in Northern Ireland contact Wilson Nesbitt in Belfast by calling 0800 840 1363.