Manchester United star in legal battle with failed financial advisor

Manchester United star in legal battle with failed financial advisor


Footballers blaming advisors for their financial strife seems very topical just now, what with bankrupt

Keith Gillespie hitting headlines

last week and

Colin Hendry earlier this year


So perhaps it shouldn’t be so surprising to read that Wayne Rooney isn’t only pla

nning to leave Manchester United, but is facing further difficulties in his battle to sue the asset management arm of the  Formation Group.

Wayne and Coleen – alongside Robbie Savage, Danny Murphy, Jason Wilcox and Brian Deane – have been locked in a legal battle with the ill-fated firm for some time. 


According to reports in the Daily Mail, Wayne and his long-suffering missus are currently suing Formation Asset Management (FAM) after they advised them to buy flats in Monte Resina in Marbella and Harbour Pointe near Tampa.


The couple believe they were ill advised due to a conflict of interests within the group, created when FAM acquired property sourcing group Kingsbridge, which encourages developers to sell homes.


The footballers’ battles, however, look to have taken a turn for the worse as FAM has been taken into administration.


The Formation Group also owns a block of 227 flats opposite London’s Aldgate East station, however the half-built building has sat empty for two years, despite attempts to finish its development in a joint venture with Julian Properties.


The City of London development has reportedly had £11 million invested in it by Formation clients, including Simon Cowell and TV duo Ant and Dec.

Leave a comment