Former Rangers and Scotland captain Barry Ferguson has been declared bankrupt after owing tax debts of over £1.4million.
The midfielder was made insolvent after he did not settle large bills believed to be owed to the taxman.
The 39-year-old, who was paid £2.5million in Employee Benefit Trusts (EBTs) at Rangers, filed for his own bankruptcy after racking up debts of £1,425,633.
The request was approved by Account In Bankruptcy, Scotland’s insolvency firm, earlier in July.
Ferguson has since declared that he only has £3,000 of assets available to cover his debt.
The ex-Gers ace left his role as manager of League 2 side Clyde last season after a disappointing campaign that saw them just avoid relegation out of the SPFL late on in the season, despite having a large playing budget.
Ferguson’s glittering career saw him play in both the English Premier League as well as playing for Rangers in the UEFA Cup Final in 2008, as well as clubs splashing around £10million for his services throughout his career.
Despite making 45 appearances and scoring three goals, Ferguson’s Scotland career ended in controversy as he was stripped of the captaincy and banned from representing his country after breaching squad discipline in 2009.