Ex-Premier League Chief, 59, Faces Bankruptcy Due to Tax Authority Lawsuit
Former football player and manager Iain Dowie is facing possible bankruptcy after being taken to court by HMRC.
The cherished figure, 60 years old and the originator of the term “bouncebackability,” has received a bankruptcy petition from the tax authorities, with a court date set at the High Court.
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This predicament emerges almost two decades after Dowie, who played for Luton, Southampton, and West Ham, dealt with considerable legal expenses following his exit from Crystal Palace as manager.
A ruling in 2007 determined that Dowie deceived Palace into relinquishing a £1 million compensation clause when he resigned.
A source disclosed, “It seems that Iain’s financial issues may trace back to that legal matter – there appears to be no other explanation for it.”
“It’s a pity for him, as he truly is a nice individual, but he hasn’t leveraged his punditry career as much as some of his colleagues.”
“Nonetheless, Iain is bright, and I am confident he will find a way to bounce back.”
After his stint at Palace, Dowie moved to Charlton but was let go after only 15 matches.
His contract contained a clause ensuring Palace would receive £1 million in compensation if Dowie joined another club.
The Northern Ireland international, who has 59 caps, has served as a sales manager and has appeared as a Sky Sports pundit since his playing days concluded.
In 2023, he announced his new position as a mortgage advisor at a law firm.
Dowie joined Alexander Grace Law, located near Burnley, as a business director leading its re-mortgaging department.
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A father of two, Dowie, whose wife Debbie is also employed at the firm, remarked: “While some may question my shift from football to the office, I have been involved in the conveyancing sector for about four years, so joining them was an effortless choice.”
Last year, Dowie – who scored 105 goals in 388 league appearances – expressed gratitude for surviving a cardiac arrest during a spin class at a gym in Chorley, Lancashire.
After receiving help from fellow gym-goers and paramedics, Dowie advocated for increased awareness of CPR training, crediting others for saving his life.
Dowie famously coined the term “bouncebackability” to describe a comeback by Crystal Palace, which was later included in the Oxford English Dictionary in 2005.
A representative for Dowie did not respond to a request for comment.