The V11 campaign group includes former England internationals and Premier League winners
Sir Keir Starmer has asked the Chief Secretary to the Treasury to meet a group of retired footballers who say they were victims of “financial abuse”.
Danny Murphy, Brian Deane and Rod Wallace are part of the V11 campaign group, which comprises 11 former players who invested with Kingsbridge Asset Management in the 1990s and 2000s.
At Prime Minister’s Questions, Labour MP Jo White compared the issue to the Post Office scandal.
“Working-class footballers lost hundreds of millions to financial mis-selling, but the V11 group is still being pursued for tax on money they never had,” she said.
The Prime Minister said a meeting would establish “what further steps the government can take to support those affected.”
David McKee and Kevin McMenamin, who ran Kingsbridge, have previously denied any wrongdoing.
Last year, they told the BBC: “At all times Kingsbridge advised in good faith and set out the risks and opportunities both before and after any investment was agreed.”
What happened to the group?
Hundreds of footballers are believed to have invested with Kingsbridge Asset Management, some lost their homes and were made bankrupt.
Former England international Murphy believes he lost roughly £5m. Meanwhile former Leeds striker Wallace was declared bankrupt in 2024.
Tommy Johnson, Sean Davis and Craig Short are other members of the V11 group who have spoken publicly.
City of London Police opened an investigation into the case in 2018 and told the players they were “victims of crime”.
But the case was later closed, with the force concluding there was “insufficient evidence to support a realistic prospect of conviction”.
No charges were brought against Kingsbridge staff.
More recently, HMRC has chased tax owed on the investments, many of which have since diminished, leaving players unable to cover the bills.
In a statement HMRC said: “We have a duty to collect tax when it is legally due.
“We recognise that dealing with an enquiry and a large tax liability can be stressful, and we are absolutely committed to identifying and supporting customers who need extra help.”
The group are now campaigning for a change in the law to protect victims of crime from serious tax charges.
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