Five-Time Olympic Champion Left Homeless After Declared Bankrupt, Forced to Sell Gold Medals

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In a shocking turn of events, Sir Bradley Wiggins, the five-time Olympic gold medallist and Tour de France champion, has been declared bankrupt, leaving him homeless and potentially forced to sell his cherished gold medals. This devastating news was confirmed by his lawyer, Alan Sellers, earlier this month.

Sir Bradley Wiggins, 44, was declared bankrupt by a court on June 3rd, resulting in the repossession of his converted barn in North Lancashire, valued at £975,000, by a building society.

Sellers, speaking to the Daily Mail, revealed the dire situation facing the iconic cyclist: "Brad is sofa-surfing. He stays with friends and family. I don’t know where he stayed last night, I don’t know where he will stay tonight or tomorrow night. He doesn’t have an address."

Wiggins, originally from Lancaster, skyrocketed to fame by becoming the first Briton to win the Tour de France. In a remarkable feat, he won both the Tour de France and an Olympic gold medal within a week in 2012.

His illustrious career saw him secure five Olympic gold medals and multiple world championships across four disciplines. Despite his athletic success, Wiggins has encountered significant financial difficulties since retiring in 2016.

The situation has deteriorated to the point where trustees may be appointed to seize Wiggins' assets, including his prized medals and trophies. According to a sports memorabilia valuer, the five gold medals alone could be worth up to £250,000.

Sellers described the situation as "a total mess," noting, "He has lost absolutely everything. His family home, his home in Majorca, his savings and investments. He doesn’t have a penny. It’s a very sad state of affairs."

Wiggins' financial troubles have persisted for years. In 2020, Wiggins Rights Limited, a company owned by Wiggins, his ex-wife Cath, and his mother Linda, went into liquidation with debts amounting to £650,000. At the time, a spokesperson for Wiggins indicated that his involvement in the company was not "day to day" and insisted that it did not impact his solvency.

However, liquidators made a £1 million claim against him, which he disputed. Additionally, a £760,373 claim from a year prior was escalated by administrators seeking repayment of an overdrawn director’s loan, prompting an in-depth review of the company’s financial records.

In September 2020, administrators revealed that Sir Bradley had entered into an Individual Voluntary Arrangement (IVA) in an attempt to stave off bankruptcy. Wiggins has previously attributed his financial woes to "professional negligence" by others, stating it left him with "a s***pile with my name at the front of it to deal with."

Despite the current predicament, Wiggins has received some support from his ex-wife, Cath, who has reportedly allowed him to stay in a redbrick semi in Lytham St Annes. However, the future remains uncertain for the celebrated cyclist.