The former Manchester City boss was left with a mountain of debt in his final days
The world of football management lost one of its most iconic figures in August 2023 when Sven-Goran Eriksson, the former England and Manchester City boss, passed away at 76.
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However, behind the glittering career that spanned decades lay a story of financial mismanagement, fraudulent advisors, and missed opportunities, including his near-appointment as Super Eagles manager.
Personal betrayal leaves Eriksson in financial turmoil
Eriksson's financial struggles were as well-documented as his footballing achievements. At the time of his death, he was reportedly ₦7bn (approximately £3.7 million) in debt.
The primary cause of his financial woes was mismanagement and betrayal by his former financial advisor, Samir Khan, who defrauded him of an estimated £10 million. Despite winning a lawsuit against Khan, Eriksson never recovered the money.
A significant portion of his debt, approximately £7.25 million, was owed to the UK tax authority, HMRC. Eriksson’s assets, which included his luxurious Björkefors Manor on the banks of Lake Fryken, were insufficient to cover his liabilities.
The property, which he purchased in 2002 and transformed into a lavish estate, has remained unsold despite being listed at a significantly reduced price.
In his later years, Eriksson reflected on the financial missteps that led him close to bankruptcy, acknowledging his regret at entrusting Khan with his wealth.
The Super Eagles job that never was
Among the many chapters of Eriksson’s storied career was a missed opportunity to manage Nigeria’s Super Eagles ahead of the 2010 FIFA World Cup.
Eriksson was the favourite candidate after Nigeria's disappointing performance in the 2010 Africa Cup of Nations; however, negotiations with the Nigeria Football Federation (NFF) unravelled due to alleged dubious demands.
In his autobiography, My Story, Eriksson revealed that the NFF proposed a payment structure that involved diverting half his salary to a separate account.
He rejected the offer outright, describing the conditions as unethical. "After the meeting in Abuja, they told me that half of my salary will be deposited in a special bank, which I rejected," he recounted.
Lars Lagerbäck, Eriksson’s compatriot, ultimately took the job, leading the Super Eagles to a disappointing campaign in South Africa.
Despite his financial troubles and personal setbacks, Sven-Goran Eriksson remains a celebrated figure in football, having managed elite teams, won trophies, and left an indelible mark on the sport.