New report comes to light detailing tennis star’s bankruptcy

Bankruptcy Blog

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New information has emerged detailing the financial downfall and subsequent bankruptcy of former professional tennis player Boris Becker.

According to German newspapers, the former world number one “may” have lost his £100 million fortune because of questionable investments in the Nigerian oil industry.

Reports say the tennis star struck the deal in 2013, buying up shares in an oil and petrol firm in Nigeria. But the investments flopped, and Mr Becker was declared bankrupt last month.

A German magazine claims it has seen details of a single investment of “more than $10 million” in Nigerian oil prepared for by Canadian investment bank, Forbes & Manhattan.

However, whether the allegations are true are yet to be confirmed.

The three-time Wimbledon winner was declared bankrupt by a London court in June this year. The ruling relates to a debt outstanding since October 2015.

The application was made by private bankers Arbuthnot Latham & Co.

In a statement, Mr Becker said: “I was surprised and disappointed that Arbuthnot Latham chose to bring these proceedings against me. This order relates to one disputed loan which I was due to repay in full in one month’s time. It is disappointing that my request for today’s hearing to be postponed until this time was refused.

“My earnings are well publicised and it is clear that I have the means to repay this debt. The value of the asset in question far exceeds the debt owed to Arbuthnot Latham. I intend to make an application to have this order set aside immediately. In the meantime, I will concentrate on my work and in particular my presenting duties at Wimbledon for the BBC and other international outlets.”