Journalist Duncan Farmer says for the past five years, dressing-room banter among the Premier League stars has focused on how to jump on the bandwagon of rising house prices. Now, says Farmer, the "big question on the team bus is: Who is going to lose the most?"
The dunce of the footballers' property class is believed to be Wayne Rooney, who the Daily Mail says is likely to take the most pain. It's apparently tough call, however, between him and United boss Sir Alex Ferguson.
Rooney is believed to be among dozens of sportsmen and showbiz stars who invested a total of £25m to build two new apartment blocks in Aldgate and Whitechapel in London's East End through their financial adviser, Formation Group," said the newspaper.
"Most of the 142 flats at the 17-storey Whitechapel block were sold 18 months ago to a single investor, who has since exchanged contracts but will not complete until May. However, the other building, above Aldgate East Underground station, hit the buffers when Iceland's Heritable Bank, which was funding building work, went under in November," it noted.
Ferguson, meanwhile is expected to lose all money he ploughed into aAim Ltd, a commercial property investment that owned dozens of pubs, car showrooms and factories across Europe.
Others highlighted for their lack of financial prowess include footballers Michael Owen and England teammates Joe Cole, David James, Paul Scholes, Kieron Dyer and Gary Neville. They were reportedly among the investment herd who galloped onto the man-made Palm Jumeirah island. The Daily Mail recounts how they each paid about £900 000 in 2003. Recently property prices have been plummeting in Dubai and are expected to come down further.
Owen, meanwhile, has made some poor judgment calls back home. A flat he bought in Liverpool in 2004 is expected to fetch (£96 000) half the price he paid for it (£205 000), says the publication.
Not all footballers have got it wrong, though. Former Blackburn Rovers' Robbie 'Nosestrip' Fowler is allegedly "still raking it in as a landlord", thanks to a portfolio of about 100 houses and flats thought to be worth £31m. He started buying in the 1990s apparently, so his units are worth far more than what he paid - even though prices have fallen in recent years.
Nice one son....
Jackson.
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