Former rugby star Ugo Monye faces bankruptcy as sports stars struggle financially

Ugo Monye, a former rugby star, is facing bankruptcy after his company, "Show Me The Monye," was closed due to unpaid taxes. This follows a significant rise in bankruptcy petitions against former sports stars since the COVID-19 pandemic. Data from HM Revenue & Customs shows bankruptcy petitions in England and Wales increased from 130 in 2021 to 694 last year. Many former athletes, including Boris Becker and Sir Bradley Wiggins, have faced similar financial issues, often linked to tax debts and failed business ventures. Other notable cases include Lawrence Dallaglio, who narrowly avoided bankruptcy, and John Barnes, who settled a tax bill to avoid similar proceedings. The trend highlights ongoing financial struggles among former sports professionals.