The former Motherwell forward was declared insolvent after he failed to settle tax bills, with his debts soaring to £2,594,192, according to the Scottish Sun.
Insolvency firm Opus, which have been appointed as trustees to try and recover cash owed to the former Scotland star’s creditors, said McFadden’s bankruptcy was due to losses involving film and property investment schemes.
The sequestration order lists McFadden’s occupation as a commentator and his links to a firm called Sports and Media Consultancy Ltd.
His wife Gillian is listed as the sole director and majority shareholder of the Liverpool-based consultancy business.
Sports and Media Consultancy Ltd had net assets of £26,000 in the 12 months to May…