Gareth Southgate owed money after agent loses millions in investments without permission

Gareth Southgate and other former England players are owed money by agent Terry Byrne amid allegations he invested their cash without permission as part of a failed £25 million property deal.

Byrne used money belonging to the likes of Southgate, Joe Cole and Glenn Hoddle without telling them, according to the Daily Mail.

England manager Southgate, Cole and Hoddle were said to have spent months pursuing huge sums amid fears some of Byrne’s businesses were facing liquidation following the purchase of giant new offices in central London last year.

Byrne, who runs the agency 10Ten Talent, was appointed by Southgate as his agent while he was still England Under-21 manager seven years ago and has helped negotiate three contracts with the Football Association for his client worth almost £20m.

But, despite the pair being said to remain on good terms, their working relationship is allegedly under threat over late payments owed from sponsorship deals and commercial work.

According to the Daily Mail, Byrne, who has previously managed Pele and David Beckham, has admitted investing money without their consent and is seeking to repay them.

In a statement to the newspaper, he said: “We are working with the talent regarding the repayments. The most important thing to me in all of this is that they are repaid fully.”

The saga was said to have been triggered when funding for the purchase of a six-storey building near London’s Oxford Circus last year collapsed after 10Ten Talent’s parent company, Round World Group, had already borrowed £21m, as well as taking out a £5m VAT loan.

The property was said to be in the hands of receivers, with Round World Group having moved out of their new offices on Wigmore Street several months ago.

There is no suggestion of deliberate deceit in the alleged investment of Southgate and others’ money by Byrne, who also has links to current England players through another of his companies, 1966 Entertainment.

The firm has a contract to manage the commercial and charitable activities of members of the senior squad.

Current 10Ten clients include Middlesbrough manager Michael Carrick, Southampton boss Russell Martin and former West Ham United captain Mark Noble.