Former world No.1 Boris Becker is reportedly £54 million in debt, according to multiple German media sources.
The six-time grand slam champion is said to earn companies millions, according to a report obtained by Stern.de. In July Becker was declared bankrupt due to a ‘long-standing’ debt lasting since October 2015. Registrar Christine Derrett, who oversaw over the bankruptcy case, concluded that there was no substantial evidence to prove that Becker would have been able to pay off his debt soon. He owed £3.34 million to a private bank.
Becker’s previous financial woe is set to be only the tip of the iceberg, according to Stern. The weekly news magazine has claimed that they have seen a financial report outlining Becker’s current situation. Another website, Bunte.de, has also obtained a 24-page report from Smith and Williamson financial firm. Both sources have reported similar findings.
Financier Hans-Dieter Cleven is allegedly owed a staggering US$34 million in what is Becker’s biggest debt. Meanwhile, British bank Arbuthnot Latham & Co is seeking a repayment of just over £12 million. According to The Daily Mail, Becker has already had watches worth £40,000 seized.
Struggling to repay his bills, Becker is rumoured to be selling his Wimbledon trophies. According to The Sun newspaper, a source has said that German had come to the decision because ‘“the time for sentimentality has passed”. Becker won three trophies at SW19 during the 1980s, which has a net worth of roughly £1 million.
Despite his three-year stint coaching Novak Djokovic, Becker’s bank account at the time of his insolvency fails to show that. In one financial report, he had only £5500 in a personal account and a further £35,000 in a joint account. During his tennis career, Becker earned over $25 million in prize money alone.
The debt is said to have been created due to a series of investments that went wrong as well as extravagant spending. In 2001 he divorced his first wife with a settlement fee of £10 million.
Becker is currently working as a commentator and analyst for Eurospoert with his contract recently extended to 2018. In August he was also given a role within the German Tennis Federation as the head of men’s tennis.
There has been no comment from Becker regarding his finances, despite a request from Stern.
