Former Newcastle and Liverpool player Danny Guthrie has been declared bankrupt after racking up excessive gambling debts in the region of £120,000.
The 35-year-old started his career at Anfield before going on to represent the likes of Bolton Wanderers, Reading, Blackburn Rovers and Walsall.
In May 2019 Guthrie borrowed a total of £75,000 from a friend to cover his households expenses. He is said to have promised to repay the loan after selling a home. But before that Guthrie ran up the gambling debts, and when he sold the aforementioned property in 2020 for a sum of £160,000, he chose to repay those debts ahead of other creditors.
Guthrie made several cash withdrawals despite knowing at the time he was insolvent. Guthrie, who is now coaching abroad and whose last known address was listed as being in Dubai, appeared at Stoke County Court.
He accepted a six-year bankruptcy undertaking which runs until May 2028. As a result, he is under a number of restrictions, including not being able to borrow more than £500 without disclosing his bankrupt status. He also cannot act as a company director without the permission of a court.
Kevin Read, Official Receiver at the Insolvency Service, said: "Danny Guthrie’s actions were deliberate in dissipating assets, at a time he was already insolvent, and to the loss of his creditors. This extension of bankruptcy restrictions should serve as a warning that the Insolvency Service will take action to tackle such financial wrongdoing."
Guthrie's last club was Fram FC, who played in the second tier of Icelandic football. He moved there in May 2021 and upon arriving he said: “I’m absolutely delighted to be joining Fram FC, a club with a fantastic history. I can not wait to get to Iceland, meet my coach, my team-mates and work hard to get into good shape to start competing and winning games.”
Fram manager Jon Sveinsson said: “This issue came up to us unexpectedly and we thought it was a very exciting opportunity.
“It was difficult to miss this opportunity and we hope that with his experience and character he will come strong into a strong group. I have no doubt that he will push people on their toes and be a good addition to a good team.”
Guthrie played a big part in Fram's promotion to the top tier, making a total of 17 appearances before he departed.
Prior to that his only winners' medal came in the 2009-10 campaign when he helped Newcastle seal the Championship title. He played 38 times and scored four goals as they sealed an instant return to the Premier League. His last outing in English football came for Walsall, as a substitute in a 2-0 loss at home to Carlisle back in January 2021.
