Former Newcastle United striker declared bankrupt

Bellamy – who earned tens of millions of pounds during his long and successful playing career – has blamed his financial predicament on failed investments made on his behalf.

"Everything I have had has been taken from me," Bellamy told the Daily Mail. "If you get the wrong people advising you, it all haemorrhages, it all dwindles.

"It’s got to the point where bankruptcy is a relief. It means I can just live again. I know some people will probably think I have squandered all my money on drinking or gambling or drugs. I haven't.

"I can go quiet where you won't hear from me, but I won't be down the pub. I have never touched drugs since I was a young kid. I don't gamble – I’ve never gambled. It doesn't make any sense to me. But I have gambled on people unfortunately."

Warning

Bellamy – who had a four-year spell at Newcastle – hopes his experience will serve as a warning to young players.

"Check everything, make sure the people advising you are regulated," said Bellamy. "If they’re not regulated, it's the wild west. I was brought up in a generation of footballers where everything was done for you. Every bill. Wherever I was, the club did everything for me. I think that's wrong.

"You’ll finish your career, and you’ll still be a young man, and when you finish, who's going to pay your stuff then? You’re going to have to learn to survive. You are going to have live in the real world."

Bellamy, 43, is now assistant manager of Championship leaders Burnley.