Barnes

"I am not broke", that was the assurance from former national coach and Liverpool legend John Barnes after reports surfaced in the British media that a Liverpool-based insolvency court had declared him bankrupt.

The former England international instead blamed a tax complication for the mix-up. Barnes, who is believed to have been in meetings with tax officials during the last two days insists that the matter involves an unpaid tax bill dating back to last year, which he simply forgot to pay because of the pressures of his last job.

A source close to Barnes reported that the former Celtic manager assured him that he was not broke, during a telephone conversation between the two yesterday.

"He has asked me to say that he is not broke, he is not bankrupt and this matter is based around some unpaid taxes and some other oversight, everything will be sorted out," said the source who asked not to be named.

Barnes was also quoted in the Liverpool Echo as saying, "I had a petition for a tax bill which I can pay. They set a date for a hearing. But with everything going on at Tranmere, I had other things on my mind - like eight defeats in 11 games."

Bankruptcy

Barnes continued, "On October 14 the hearing went ahead. I immediately got in touch with the Inland Revenue and we are in the process of removing the bankruptcy and dealing with the tax bill. This matter will be dealt with, hopefully in the next week."

There is no indication as to the actual amount owed by Barnes, however, the former midfielder tried to play down the situation.

"Everybody owes tax. It hasn't spiralled. The bill relates to last year and they informed me about it four months ago."

This is not the first time that the former England international has been on the wrong side of the law, he was convicted last year of driving without insurance. The former England international is in the process of selling his luxurious five-bedroom property, which is reportedly valued at £650,000 (J$91 million).

Barnes is also said to own a Lexus and BMW vehicles and the Echo quoted an insolvency service spokeswoman, who revealed that they would be working to "dispose of his assets and pay back his creditors".

The 45-year-old led Jamaica to five wins and four draws before moving on to English League One outfit Tranmere Rovers, where he was fired after a poor run of eight losses in 11 games, just five days before the authorities made the declaration.