Danny McCance 26 Jul 2017 11:42am

Former Rangers star declares bankruptcy

Barry Ferguson, the former Rangers and Premier League footballer, has declared bankruptcy with debts of more than £1.4m

The bankruptcy was first ordered on 21 July, according to Accountant in Bankruptcy (AiB), Scotland’s main insolvency service.

In his AiB declaration, Ferguson claimed £1,425,633 of debt with only £3,000 of assets.

The Scotsman reported that the former football star was one of many forced to pay back a large sum gained from employee benefits trusts (EBTs), during his time at Rangers FC.

Earlier this month, HRMC won a long running legal battle with Rangers football club over payments made through EBTs, which were found to be avoidance schemes.

Ferguson debuted for Rangers straight from school in the 1996/7 season and, after a few years plying his trade in England, he returned to Rangers and played between 2005 and 2009.

During his career he played in the English Premier League, with both Blackburn Rovers and Birmingham City.