Sven-Göran Eriksson died leaving behind £3.8 million debt

Swedish football manager Sven-Göran Eriksson who died in August last year at the age of 76, left behind a tangled financial legacy that includes debts exceeding £3.8 million ($4.64 million).

Eriksson renowned as the first foreign coach to lead the England national team had previously announced that he was terminally ill with pancreatic cancer.

Despite having assets worth £4.8 million, Eriksson’s total liabilities reached £8.64 million. A significant portion of his debts, approximately £7.25 million, was owed to HM Revenue and Customs (HMRC) in the UK, highlighting the gravity of his tax-related issues. Swedish media reports indicate that most of his financial troubles stemmed from years of mismanagement.

Throughout his career, Eriksson managed several high-profile clubs and national teams, including a notable tenure with England from 2001 to 2006, where he guided the team to the quarter-finals of the 2002 and 2006 World Cups. However, he had been open about his financial struggles, revealing that he lost £10 million to a financial adviser and admitted to being unaware of his actual financial standing or whereabouts of his funds.

Eriksson’s death has raised questions about the impact of financial mismanagement on high-profile sports figures, prompting discussions on the importance of financial literacy and oversight in professional sports.