Overview

• Football’s Financial Shame: The Story of the V11 aired on BBC Two, featuring testimonies from 11 retired players including Danny Murphy, who says he lost about £5m and struggled with addiction.
• Around 200 footballers are reported to have been drawn into Kingsbridge Asset Management’s film tax-relief and property schemes in the 1990s–2000s, with £417m invested by hundreds of sports stars.
• Despite the police classification of investors as victims, HMRC is pursuing substantial liabilities, with the average bill for V11 members reported at more than £1m and HMRC stating it must collect tax that is legally due.
• Enforcement has reached individuals, with Oxford United coach Craig Short shown a £1.6m liability and visited by bailiffs at the club’s training ground, according to the BBC programme.
• City of London Police closed their probe citing insufficient evidence for charges, while Kingsbridge founders David McKee and Kevin McMenamin deny wrongdoing and attribute losses to HMRC policy shifts and the 2008 property crash.