Boris Becker: The rise and fall of a tennis legend


In 1985, tennis legend Boris Becker was an overnight sensation at the tender age of 17 after becoming the youngest player in history to win a Wimbledon final. His powerful serves earned him the nickname “Boom Boom Boris”, and his successive wins at Wimbledon in 1986 and 1989 quickly made him a superstar.

The former world tennis champion was once worth an estimated £38m – about £100m in today’s money – which he earned from prize money and endorsements. He then went on to coach tennis star Novak Djokovic after his retirement in 1999. Becker, now 54, had also pursued a career in poker, tennis pundits and business.

In an interview in 2012, he said, “I had earned so much for [the age of] 22: Multiple Wimbledon, US Open, Davis Cup titles, world number one. You’re looking for the next big thing and that’s not in tennis.”

But his retirement marked the beginning of his financial problems. His earnings plummeted as he continued to live a lavish lifestyle, paying his children’s school fees and sending cash to his ex-wives.

In 2017, the London Bankruptcy and Companies Court declared him bankrupt for an unpaid loan of 4.6 million euros (3.5 million pounds sterling), from the British private bank Arbuthnot Latham, which he had obtained in 2013 for a property in Mallorca, Spain. .

He was also unable to repay £1.2m, at 25 per cent interest, that he borrowed in 2014 from British businessman John Caudwell, who founded Phones 4u. Earlier this year, the six-time Grand Slam champion told a jury at Southwark Crown Court that he was “shocked” and “embarrassed” when he was declared bankrupt.

During the bankruptcy trial, the court also heard that he owed Swiss authorities five million francs (£4 million) and, separately, just under a million euros in liabilities for a 2002 conviction for tax evasion and attempted tax evasion in Germany. Becker was accused of concealing assets and transactions worth more than 4.5 million pounds, including various trophies, such as the one he won during the 1985 match that catapulted him to stardom.

Becker denied knowing the whereabouts of the memories. He was acquitted of 20 counts, including nine counts of failing to hand over trophies and medals from his tennis career. But on April 8, 2022, he was convicted of four counts, including property theft, two counts of failing to disclose assets, and concealing debts.

He was found guilty of transferring £356,000 to nine recipients, including the accounts of his ex-wife Barbara and his ex-wife Sharlely ‘Lilly’ Becker. Becker was also convicted of failing to declare property in Germany, concealing a nearly £700,000 bank loan and his shares in a technology company. On Friday he was jailed for two years and six months for those crimes.

Becker said the bad publicity had damaged his brand and made it difficult for him to earn enough money to pay off his debts. His solicitor, Jonathan Laidlaw QC, said at the time of his bankruptcy that Becker was too “trusting and dependent” on his advisers.

Becker previously told a jury that his income “dropped dramatically” after his retirement, saying his career earnings were swallowed up by a costly 2001 divorce from his first wife Barbara, child support payments and “care commitments.” expensive lifestyles,” including his £22,000-rented house for a month in Wimbledon, south-west London. He said he also had to support his daughter Anna Ermakova and his mother Angela Ermakova, in a deal that included a £2.5m Chelsea apartment.

Becker’s daughter was conceived during his infamous run-in with Russian model Mrs. Ermakova in a broom closet at the posh London restaurant Nobu in 1999. Mrs. Ermakova initially filed a paternity suit against the player, but eventually agreed that he was the child’s father and agreed to pay a “generous” financial settlement.

Speaking of his financial downfall, he told the jury that his image was no longer good and that the “Becker brand” was not as appreciated as before, as companies “did not want to be associated with a brand that was criticized in the media.” . “(It’s) very difficult when you’re broke and making headlines every week for it. (It’s) very difficult to make a lot of money with my name,” he said.



Reference-economictimes.indiatimes.com

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