Bradley Wiggins risks the bankruptcy of his company Wiggins Rights Limited. The British ex-Tour winner has an outstanding debt of almost £1 million, which he disputes.
Source: Cyclingnews, Cycling Weekly
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The 43-year-old Wiggins won the Tour de France in 2012 and was crowned Olympic champion in track cycling five times. It made him a hero in his own country. After that, ‘Wiggo’ became a household name as an analyst and reporter (from the motorcycle) for Eurosport. The Brit also founded his own cycling team.
But last year things went wrong financially for Wiggins. He has been in a process since 2020 (an ‘Individual Voluntary Agreement’) in which he is helped to pay off creditors gradually, with a view to avoiding bankruptcy. But Cycling Weekly has now revealed that the Brit has not yet paid off a cent of his outstanding debt of 979,953 pounds (1,120,266 euros). Wiggins should have paid this off – among other things – by selling assets in Spain and the naming rights to ‘Wiggins’ and ‘Wiggo’.
Wiggins disputes this claim, but in the meantime bankruptcy is looming. “If this breach of contract is not resolved, his process will be terminated,” he said Cycling Weekly take notes from a relevant document. “In that case, bankruptcy proceedings can be initiated. This is also the expectation and within the coming months.”
The ex-Tour winner – whose personal financial situation is not said to be in danger – is deeply concerned about it. “These headaches have been going on for a few years now and there appears to be no end in sight,” Wiggins said. “It’s a historical issue where the negligence of others has left a big pile of sh*t with my name on it. That happens more often with sports people and a few claims will be sent out from my lawyers as a result.”