The bankruptcy proceedings were dropped during a brief hearing at London’s High Court, which was told he had made an individual voluntary arrangement with the Inland Revenue, his only creditor. He must pay £825 costs.
Gazza had his hearing adjourned in February to give him an “last chance” to settle the bill, which he has failed to do. But he was granted an interim order which allowed him time to make arrangements to pay without becoming bankrupt.
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At the last hearing in London, it was said that he had made a “mouth-watering offer” of full repayment of his debts.
Gazza, 43, hopes to cash in on his new book, due out later this year, as well as a stage show with Jimmy Greaves in June, when he will discuss his struggle with alcohol and drugs.
He was not at yesterday’s hearing but was legally represented. He was one of football’s highest paid stars and once rumoured to be worth £14million. While playing for England, he secured around £5million in sponsorship.
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