"It is a mess. He has lost everything, absolutely everything" - Sir Bradley Wiggins homeless after filing for bankruptcy
Cycling
Recently, news emerged that former Tour de France winner, Sir Bradley Wiggins had filed for bankruptcy and was at risk of being forced to sell his Olympic gold medals. Now, some more details have emerged on the situation.
"It is a mess. He has lost everything, absolutely everything. His house, his other home in Mallorca, his savings and his investments... He doesn't have a penny left," Wiggins' lawyer, Alan Sellers detailed recently in conversation with the Daily Mail. "It's very sad. I don't know where he slept last night and I don't know where he will sleep tonight or tomorrow. He has no permanent address.”
According to The Times, Wiggins was declared bankrupt at Lancaster County Court on June 3, with trustees now being appointed to seize and dispose of the legendary figure in British cycling's remaining monetary assets and valuables.
Wiggins has been very open and honest about his struggles with mental health over the course of his career, admitted previously that many of his issues stem back to being abused as a child. “It happened when I was young, about thirteen years old. I never fully accepted that and it affected me as an adult,” Wiggins revealed in conversation with Men's Health UK. "So I tried to forget about it. I was a loner. I felt lonely and wanted to get away from my environment. Yeah, I was a pretty strange teenager. I think I started cycling through my setbacks to be able to be alone as much as possible.”
During his career on the bike though, the now 44-year-old was incredibly successful. Tasting triumphs both on the road and on the track, Wiggins notably became the first British rider to ever win the Tour de France back 2012, following that up with time-trial gold in the London Olympic games.
He rode for Sky, had major success and money something's gone wrong during that time..whether 'by him', finances, or whatever...
I've been following this for a few months, I never thought I would see Brad in this shape though, hope he finds a way out.
Who knows the exact reason(s) that caused Bradley to end up in this predicament, but I think that it's a situation that warrants some compassion and empathy on our behalf, regardless of whether you were ever a fan of the man or not. It sounds like he's received some very poor financial advice over the years, and I would not doubt at all that mental health circumstances have played a factor in the decision making process as well. Hopefully some of the details in this article have been overly exaggerated (as they usually are), and that he's receiving the support that he needs to deal with and to get through this mess.
What kind of legal advice did he get in the first place that put his personal assets at risk in a business venture????
I don't want this to come across the wrong way, but it's been apparent for some time that Brad is haunted by serious mental health demons.
Don't really care for cold and unfeeling comments. What a lack of empathy. It's much harder to lose everything when you've had a lot of money or a big family for example. Your life is then drastically changed when your potential to start over is greatly reduced.
Exactly. The bizarre segue in the article from details on his finances to his mental health issues reads as an attempt to excuse poor decision making. Sorry to be harsh, but this is about the fact that his business failed. I write this as someone who has been under the care of a psychiatrist for decades: mental health is absolutely real, and it also should not be used as a scapegoat.
But that should not lead him to personally get into debt unless he gave personal guarantee for the loans of the team/company etc. Company debts are always kept separately from personal finances.
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