Michael Essien: Ex Chelsea and Ghana Star's Properties to Be Auctioned Amid Debt Crisis, Report

Michael Essien: Ex Chelsea and Ghana Star's Properties to Be Auctioned Amid Debt Crisis, Report

Ero Samson
updated at June 18, 2024 at 2:52 PM
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  • Former Ghanaian midfielder, Michael Essien, is currently in financial turmoil following reports of huge debts owed
  • The former Chelsea and BBC Africa Footballer of the Year is reported to be in debt in the region of €30 million
  • A report has surfaced, detailing how two of his luxurious properties situated in his hometown Accra could be sold off

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Former Chelsea and Ghana midfielder, Michael Essien, is said to be on the brink of financial ruin, with two of his luxurious properties set to be auctioned off.

The reported sale of the 41-year-old's properties was said to have been mandated by the Sheriff High Court on June 12, after the retired star lost a litigation suit.

Ghana, Michael Essien, CHelsea, Debt, Crisis, Finance, Litgation, Midfielder
Former Ghana and Chelsea star, Michael Essien, is said to be facing the auctioning of his properties over debts owed after a court mandate on June 12, 2024. Image: Marco Luzzani.
Source: Getty Images

According to a report from Modern Ghana, the court's judgement would affect Essien's properties in East Legon and the Adjiringano area of Accra.

The forced sale is said to be driven by creditors keen to recover debts owed by the former Real Madrid midfielder.

The report also states that each property is valued at around €20 to €30 million, highlighting the severe financial trouble Essien might be facing.

The roots of Essien's financial woes

The root of the 41-year-old's financial troubles is speculated to date back to various loans taken from financial institutions in his native Ghana, per reports from Africa Soccer.

These loans, which the former football star has struggled to repay, have led to the court’s intervention.

The alleged auctioning of Essien’s properties in Accra would mark a significant and upsetting chapter in the life of the 2006 BBC Africa Player of the Year.

He enjoyed tremendous success during his active years as a footballer, including winning the UEFA Champions League and two Premier League titles during his over seven-year stint at Chelsea, according to data from Fotmob.

The combative midfielder also won several other titles with French Ligue 1 outfit, Olympique Lyon.

Essien also had stints with Real Madrid in addition to others he had with AC Milan, Bastia, and Greek side, Panathinaikos.

Essien claims he turned down Black Stars job

Sports Brief also previously reported on Essien claiming he turned down Ghana and a chance to join the national team - the Black Stars - as an assistant coach.

The former Chelsea star said he refused to accept the role with his country's senior men's national team, with John Paintsil appointed to assist Otto Addo instead.

Authors
Ero Samson photo
Ero Samson
Samson Ero is a sports journalist with a track record of over five years in the Nigerian media industry. He graduated from Nigerian Institute of Journalism (2021-2023).