FOOTBALL: Premier League stars 'lost £100m in film and property investment schemes'

Some of the biggest names in British football have lost around £100m after investing in film schemes and property ventures, the Sunday Times has claimed.

Rio Ferdinand, Kevin Campbell, Andy Cole, Martin Keown, Danny Murphy and Robbie Savage are reported to among more than 100 footballers to have invested via Kingsbridge Asset Management.

The firm is headed up by David McKee and Kevin McMenamin, who are alleged to have earned £5million in commission from investments, many of which tanked or resulted in the players’ receiving tax demands from HM Revenue & Customs, which challenged the film schemes’ legality.

The Sunday Times claimed Cole has invested in three film schemes, while Campbell faces losing £7 million after investing in five film schemes and is understood to be involved in bankruptcy proceedings.

“When I see the paperwork it’s horrendous,” Campbell said. “I’m not one to be bitter, but £7million is a lot of money.”

Craig Short, the former Blackburn Rovers captain, said: “These investments were for my children’s future. I reckon over 100 retired players have been hit by this. They feel duped, anger, humiliation, really. It’s wrong, totally wrong.”

Keown’s lawyers are understood to be taking action to protect his position.

Ferdinand has lost an estimated £2.3 million on property investments in Spain and Florida, and was the biggest investor in film schemes - but his advisers say he had limited personal exposure and is happy with his investments.

A spokesman for McKee and McMenamin issued a strong denial and said that “without exception” all the firm’s clients were always advised of the suitability and risks of the schemes and that they needed to be part of a balanced portfolio.