Gareth Bale Speaks Out on Bankruptcy Fears Despite £350,000-a-Week Wage
Gareth Bale has opened up about genuine fears of bankruptcy despite earning millions from a stunning playing career.
Bale was once the most-expensive player and highest-paid player in world football when he signed for Real Madrid from Spurs in 2013.
The £85.1 million move surpassed Real's mega deal for Cristiano Ronaldo and the Welshman is said to have earned just short of £200 million from his glittering nine-year stint with Los Blancos.
Southampton academy product Bale, who scored in two Champions League finals, also had a significant sponsorship with Adidas.
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But despite the two-time PFA Player of the Year being well off and appearing extremely comfortable financially, he discussed previous fears of possibly going bankrupt at the end of his career.
Aware of several high-profile athletes who did just that after not knowing how to manage their money, he made a conscious effort to not live lavishly and focus on what would happen after retirement.
"There was one thing that always scared me inside," Bale admitted in an appearance on Front Office Sports.
“You read articles about when people finish professional sports, they go bankrupt.
“They don’t know how to manage their money, they don’t know how to do all these things.
“A lot of, I imagine, athletes live a big lavish lifestyle. I try not to do that. I always had one eye on what life would be like after football.
“When I finish, I stop getting the paycheck. How do people then restructure their lives?
“So I was always trying to diversify from quite early on. Always had this pillar idea where I would try and invest my money in different things.
“If one pillar got chopped down and didn’t work, the whole building is not going to fall down.”
Bale finished his career with LAFC in the MLS following on from captaining the 2022 World Cup and is said to have a net worth of £120 million according to Wales Online.
The five-time Champions League winner has been doing punditry for DAZN and TNT Sports and also owns Elevens Bar and Par 59 in his hometown of Cardiff, as well as investing in the TGL golf league owned by Tiger Woods.
Bale wants to become football owner
But he has been linked with another sensational venture: a potential takeover of Cardiff City.
The Bluebirds, relegated to League One from the Championship last season, are still owned by Vincent Tan.
Ahead of the season, Bale led a consortium who placed a bid for Cardiff but the offer was rejected. However, Bale is still hopeful that a deal can be achieved in the near future.
“I suggested about my home team," he added.
“It’s one that’s been on the decline for a few years now and has such massive potential, being a one-city club.
“We are looking forward to the response, we would love to get ownership of it and take the club back to where we think it belongs.”
Topics: Gareth Bale, Real Madrid
Josh Lawless