Premier League flop 'on verge of becoming a billionaire' thanks to hugely successful side business

A Premier League flop is reportedly on the verge of becoming a billionaire thanks to his successful side business.

Over the years, we have seen a few former Premier League players making huge money away from the sport.

For example, ex-Manchester City academy graduate, Reece Wabara, retired at the age of 26 and has since made millions thanks to his own clothing label.

Dean Forbes, who was once on the books at Crystal Palace, went on to become the CEO of Forterro, a major software firm which was bought for a huge $1 billion last year, which took Forbes’ net worth up to £40 million.

Now, another former Premier League player is set to join the ever-growing list.

Spaniard Jose Ignacio Peleteiro Ramallo, commonly known as Jota, spent time playing for the likes of Brentford, Birmingham City and Aston Villa during his time in English football.

However, his time with Villa was one to forget as he only scored once in 16 appearances across all competitions.

In 2022, Jota decided to hang up his boots in a drastic change of career. The former midfielder is now a big part of an agricultural technology company, Groinn.

It has been reported that his company is in the process of entering a partnership with the Spanish government and is on course to be worth £600 million in 2025.

Groinn’s annual projection is set to take a sharp rise in year three to an eye-watering £3 billion.

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Speaking to The Athletic back in January, 32-year-old Jota said: “Football should make personalities stand out. I was doing what the manager said, but I didn't enjoy it. It was a difficult decision because I was saying no to so much money, but I had loved football so much it was never about the money. I lost my motivation, but I had another big project on my mind.

“When I was playing, I knew about Groinn, but I didn't have the time. It was a start-up under a different name that required funding (it was then called Ramalloc Innovation). I like taking risks and there were nervous times during the process. Once you develop the technology and it works, you will have spent millions but will get a lot more back. But if it doesn't work, you lose all your money.”

He added: “The value of the company is now worth 10 times more than the money I invested. I am already taking offers, but I know they won't even be one per cent of its value in three years. We are in negotiations with a lot of governments around the world because they want the technology and we are industry leaders. We are talking to big companies in America and we are moving quicker than we thought.

“We are like the iPhone. Before that, you had letters, fax machines and telephones, but the iPhone puts it all into one and doesn't cost too much and will be better quality. We did the same in agriculture with all technology on one machine. Our profit projections will be so big, no matter how much money someone offers me (for his stake), it will not be enough.”