Steve Finnan’s Financial Struggles: From Football Fame to Bankruptcy Battle

The enduring repercussions of a failed property business have left former Liverpool defender Steve Finnan on the verge of bankruptcy, following a legal dispute with his brother, Sean, that began in 2016. Finnan initiated a lawsuit against his sibling but has yet to receive any compensation, accumulating unpaid legal costs and bills in the process.

After concluding a distinguished playing career that included 684 appearances for club and country—spanning stints at Fulham, Espanyol, and Portsmouth, alongside five pivotal years at Anfield—Finnan ventured into business with his brother. Unfortunately, their property enterprise faltered, leading to Finnan suing Sean around 2016 due to concerns regarding the management of the business. This culminated in a High Court settlement in 2018, which awarded Finnan £4 million ($5.3 million), yet his brother was declared bankrupt a year later without making any payments.

This was merely the beginning of a series of legal challenges, as Finnan has since returned to court multiple times. The former Republic of Ireland international, who participated in the 2002 World Cup, filed a £6 million ($7.9 million) negligence claim against the law firm Charles Russell Speechlys, which ultimately failed. He then took action against an individual lawyer from the firm, alleging contempt of court, but lost and was confronted with a five-figure legal bill—a cost he has yet to pay, resulting in a bankruptcy petition filed at Central London County Court. Additionally, he disputed fees with another firm, Candey, which took over his case, and was ordered to pay £120,000 ($158,000).

In a recent High Court appearance to appeal aspects of the bankruptcy case, Finnan was informed by a judge that he was employing “delaying” tactics. Following the transfer of the bankruptcy petition to Central London County Court, Finnan managed to postpone the September hearing, arguing that the complexities of his case warranted a High Court setting and alleging bias from the presiding judge.

When Finnan’s appeal against the bankruptcy petition, related to a costs order of less than £50,000 ($66,000), was denied, Mr. Justice Mellor remarked: “Standing back, it is surprising that Mr. Finnan has challenged this directions order… his complaints are largely procedural and have no substance.”

“I refuse permission to appeal and I dismiss the appeal. I also certify this appeal is totally without merit. It was, at all times, completely hopeless. The petition will have to be the subject of further directions, best given by a judge in the insolvency list.”

Currently, there is no scheduled date for the bankruptcy case to return to court. While this represents a temporary reprieve for Finnan, given the outcome of his appeal and the judge’s remarks, it seems inevitable that he will eventually confront the consequences of his financial difficulties.

Finnan’s last professional appearance was in the 2010 FA Cup final for Portsmouth. Although he once contemplated obtaining coaching qualifications, he opted to pursue a career in property post-football instead and has not held a formal coaching role. In 2020, Finnan made headlines when fans discovered he had auctioned personal memorabilia, including his Champions League medal from 2005, a replica Champions League trophy, and signed shirts, a decision that may reflect his pressing financial situation.