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26th May 2010: Sarah Ferguson, Duchess of York
Source: The Independant
“How did I go broke?” the once-rich F. Scott Fitzgerald said to Ernest Hemingway. “Two ways – slowly then quickly.” More and more wealthy Britons are being left surprised at the speed with which the golden horse-drawn carriage of their lives has suddenly become a train on a one-way ticket to Queer Street.
The Duchess of York – who is facing bankruptcy, has been reduced to trying to sell her husband’s influence like some eau de parfum and is now in danger of losing her home – is only the most recent case of financial meltdown among the well-heeled. The phenomenon of the A-list debtor is not a localised trend: it’s a sign of the times.
14th April 2009: Gordon Ramsay – star of popular reality show, “Hell’s Kitchen“.
He advises struggling restaurateurs in Ramsay’s Kitchen Nightmares, but now Gordon has his very own nightmare. He has sold his restaurants in Los Angeles, Paris and Prague back to the hotels which housed them. Although Ramsay is worth £60million on paper, his restaurant business has been hit by the credit crunch and is said to be debt-ridden and overstretched. Gordon Ramsay Holdings (GRH) – the umbrella firm for his 25 restaurants – has been taken to court over unpaid debts three times in a month. Its latest accounts – which cover the year to August 31, 2007 – were posted eight months late and reveal that the company’s overdraft was renegotiated from £4.5million to £6.1million. Suppliers are owed almost £5million, and the company also owes £1.7million in corporation tax.
Ramsay and Chris Hutcheson, the GRH chief executive who is also the celebrity chef’s father-in-law, have had to make personal pledges to help the company pay its debts if necessary.
Ramsay is selling his Ferrari Scuderia at a £50,000 loss. The chef, who has owned the car for six months, has a Range Rover and an Audi for everyday use, but the Ferrari was his pride and joy.
13th of April 2009: Wayne Rooney has lost a one million pound deal with Mercedes after they withdrew their deal. The company is making cutbacks and could not be seen to be paying 500000 pounds a year for Wayne Rooney to endorse it. (poor man, he must be devasted).
“Like everyone else, Mercedes is feeling the pinch, and cutting back on celebrity brand endorsement. When the Mercedes deal was announced last year many critics were surprised at the brand’s choice of ambassador.
Brand analyst Peter York said at the time:
Ordinarily you’d expect Mercedes to choose someone aspirational and classy to advertise its cars, and it’s fair to say that Wayne Rooney doesn’t fit into that category.
Mercedes-Benz said on Sunday:
We never disclose details of arrangements made with individuals.
28th of March 2009: Jonathan Ross, Chris Moyles, Barbara Windsor, Graham Norton and Terry Wogan will be among hundreds of big names left worse off. That is hundreds of millions of pounds the BBC could be saving if they insisted these over paid idiots take a 50% salary cut. It’s not as if they will be hard done by, considering most of them are multi-millionaires.
Jonathan Ross pictured on the left is reportedly paid 18 million pounds for presenting his chat show / tv show. He will have his 3 year contract slashed by 4.5 million pounds. The poor man is going to be totally distraught losing £1.5 million a year. He was recently suspended for 3 months for his part in a prank call to Andrew Sachs, so it’s amazing how the BBC feel the need to pay this jerk so much money each year?
Here are a few of the well known TV presenters or stars facing salary cuts:
Chris Moyles (Fat Loud Mouth DJ)
2009: £472,000 (-£158,000)
Davina McCall (Big Brother Presenter)
2009: £400,000 (-£100,000)
Graham Norton (Camp Chat Show Host)
2009: £1.9MILLION (-£600,000)
Dermot O’Leary (TV Presenter)
2009: £900,000 (-£100,000)
Fiona Bruce (News Anchor)
2009: £600,000 (-£200,000)
Chris Evans (DJ and boozer)
2009: £405,000 (-£135,000)
Jeremy Paxman (University Challenge)
2009: £750,000 (-£250,00)
Barbara Windsor (Peggy from EastEnders)
2009: £270,000 (-£90,000)
Gordon Ramsay (Celebrity Chef who loves to say “fuck” on TV).
2009: £600,000 (-£295,000)
17th of March 2009: Carol Vorderman has peddled more products over the years than almost any other celebrity.
Detox diets, Sudoku, loans, mobile phones, margarine, maths and English books, keep fit, computer games… the Countdown queen’s combination of brains and looks has made her an able saleswoman for them all. So it was probably inevitable that she would eventually turn her hand to property by launching ‘Carol Vorderman Overseas Homes’.
MATHS whizz Carol Vorderman has been left counting the cost of the downturn after she quit Countdown and ended her association with an overseas property firm. The 48-year-old quit her £1million-a-year presenting job after C4 bosses said she must take a 90 per cent cut.
Poor thing. Not so clever after all.
12th of March 2009: Warren Buffett was last year’s richest man, but he has now fallen to second place with $37bn, after losing $25bn due to the global financial meltdown.
23rd of February 2009: Credit crunch victims Anthea Turner and Grant Bovey to sell their £5million mansion.
Anthea Turner and husband Grant Bovey have been forced to sell their £5million country home after the couple lost £100million in the credit crunch.
Link: Mail Online
10th of February 2009: celebrity chef ‘Antony Worrall Thompson‘ goes into administration.
Link: Crunch Victims
25th of January 2009: Wyclef Jean owes £1.8million and lost his mansion to auction. You can call him a genuine re-Fugee after losing his Malibu mansion.
10th of January 2009: Trisha Goddard show axed by Five as she becomes latest celebrity credit crunch victim.
Daytime talk show star Trisha Goddard has been axed by bosses at Five to save money.
Five yesterday blamed the ‘economic climate’ for the decision to get rid of Miss Goddard, 51, who earns £500,000 a year.
The Trisha Goddard Show is made by the star’s production company, Town House TV, where 85 staff will also lose their jobs.
And one must ask, how many jobs could be saved if Miss Goddard cut her £500K salary by half?
Link: Mail Online
25th of November 2008: General Motors end their sponsorship deal with Tiger Woods. The contract was worth £6.6m a year to the golfer.
The credit crunch and accompanying global recession claimed its most famous sporting victim last night when General Motors, the troubled American carmaker, announced that it was ending its sponsorship deal with the world’s most recognisable athlete, Tiger Woods.
The deal between GM and Woods, said to be worth more than $10m (£6.6m) a year to the golfer, had endured for almost a decade and become one of the most visible sponsorship arrangements in sport, not least because Woods’ golf bag had been transformed into an advertisement for Buick, one of the carmaker’s brands.