SVEN'S DEBT
Staggering £7m of Sven’s debt was in tax after ‘investing in failed film scheme’ – & pals fear total may be even higher
Tributes flowed in after the death of Eriksson last August
FORMER England manager Sven-Göran Eriksson died owing the taxman millions, it has been revealed.
Football went into mourning when the legendary coach passed away from pancreatic cancer at the age of 76 in August last year.
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Eriksson was one of the country’s best performing managers, taking the national team to two World Cups and one Euros quarter final.
He was also among the highest-earners on around £4.5 million per year during his stint as Three Lions boss between 2001 and 2006.
But accounts published in his native Sweden on Tuesday show he had debts totalling 118 million kronor - the equivalent of £8.6 million - when he died.
A staggering £7.2 million of that was owed to His Majesty’s Revenue and Customs (HMRC) in the UK.
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Eriksson’s lawyer and close friend Anders Runebjer told The Sun the final figure could be even higher as they have still not received the total claims from HMRC or the interest owed on those tax debts.
He said: “Sven has already paid hundreds of thousands of pounds to the tax authorities, but still they have more claims and we don’t know exactly how much it will be in the end.”
Mr Runebjer, who says he is trying to avoid declaring the estate insolvent, blamed Eriksson's tax debts on poor investment decisions - including a failed film scheme in 2006.
The ex-England chief was among hundreds, including Sir Alex Ferguson and Glenn Hoddle, who piled money into Eclipse Partnerships.
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The series of film financing schemes, conceived by HSBC, claimed they would make money by buying the rights to blockbuster Disney movies and leasing them back to studios.
Investors were told they could defer their tax bills and spread the payments out over a number of years.
But HMRC became concerned the £2.2 billion scheme was being used to avoid tax, leading them to take Eclipse to the Supreme Court in 2016.
Investors were handed accelerated payment notices the following year - reversing the tax benefits they had previously enjoyed and demanding they pay interest on the multi-million pound sums.
HMRC then made a “dry tax” charge against Eclipse members, meaning they also faced income tax liabilities on money they never received.
Mr Runebjer said: “The debts originate from 2006 when Sven was advised to make investments in film schemes and environmental schemes. Those were all orchestrated by banks. It turned out to be really bad advice, which he found out much later…
"The film scheme would not have been profitable even if it had gone exactly as planned. It was more or less a scam.”
The inventory, seen by Swedish newspaper Göteborgs-Posten, revealed Eriksson owned £4.8 million in assets - meaning his estate has a deficit of around £3.8 million.
It also showed the sporting legend’s funeral in Torsby, which was attended by footballing royalty including David Beckham and Roy Hodgson, cost almost £48,000.
The former Three Lions chief previously confessed to being “stupid” with money and having poor control over his finances, saying: “I have no idea how much money I have and where it is.”
He admitted he was even close to bankruptcy at one point after being “defrauded” of £10 million by his financial adviser Samir Khan.
Eriksson took Khan to court in 2011 where he allegedly accepted having “unlimited access” to the star’s fortune and blowing money on dubious investments and property schemes.
The footie coach received an apology but said he never got the money back. The outstanding debts are understood to be unrelated to Mr Khan.
It comes as the Swede’s lakeside property on a secluded estate in Sunne has been put on the market for £1.8 million.
Preparations to sell his seven-bedroom mansion, which has its own private beach, began in September.
Eriksson paid £420,000 for the 19th century mansion in 2002 when he was in a relationship with Italian lawyer Nancy Dell’Olio.
Agent Sotheby’s says he has “left his personal mark on both the interior and exterior” of the 835-square-metre property.
The property's value soared to £3million in the last decade, but it has now fallen to almost half of that figure.
Sven-Goran Eriksson’s former mistress Faria Alam has bid him an emotional final farewell
And it's also as sporty as you might expect.
A 250-square metre poolhouse sits outside, along with a saltwater pool, spa, sauna, jacuzzi, gym and relaxation area.
There's also a tennis court, jetty, a motorised floating platform, a sandy cove and waterside gazebos.
Lawyer Anders Runebjer, who was a close friend of Eriksson's, reportedly expects the home to sell quite easily.
Runebjer believes the reduced valuation of £1.8m is more realistic for buyers, Swedish outlet reports.
He also pointed to the freedom and natural setting offered by the property.
Sven died on August 26 last year after suffering from pancreatic cancer.
During a five-year spell in charge, Sven led England to quarter-final appearances at the World Cup in 2002 and 2006 as well as Euro 2004.
Sven landed the Three Lions job after Kevin Keegan quit the post following England's 1-0 loss to Germany in October 2000.
He previously won a first Serie A title in 26 years with Lazio, and after stepping down with England went on to manage Manchester City and the Mexico national team.
Due to his health issues, Eriksson was sadly forced to step down as sporting director at Swedish club Karlstad in February 2023.
After bravely announcing his cancer diagnosis, he was granted his lifelong wish when he led out Liverpool Legends, as they played in a charity match against Ajax at Anfield in March.
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The Swede's death sparked an outpouring of grief for the ex-Manchester City and Leicester boss.
David Beckham and Roy Hodgson were among the mourners at Eriksson's funeral in his home-town of Torsby, near Sunne.
SVEN'S AMAZING CAREER
1977 - Having played football professionally in Sweden, Sven-Goran Eriksson kicked off his managerial career with Swedish side Degerfors.
2000 - He guided Lazio to the Serie A title to become one of the hottest coaches in the world.
2001 - Following the resignation of Kevin Keegan, he was appointed England’s next permanent manager in February 2001. He oversaw 66 games with the Three Lions, winning 39 and losing just 12.
2002 - Eriksson led England to the 2002 World Cup with the likes of Steven Gerrard, Paul Scholes and David Beckham in his squad. The Three Lions were knocked out in the quarter-finals.
2004 - The legendary manager also led the Three Lions to Euro 2004, but they were knocked out of the quarter-finals to Portugal.
2006 - Eriksson led England to another World Cup, his final tournament in charge, before resigning.
2007 - The Swede took charge of Manchester City a year after leaving the England job and oversaw 45 games.
2010 - Having coached Mexico, Ivory Coast and Notts County after parting ways with Man City, Erikson took charge of Leicester and saved them from relegation. Following his time with the Foxes he went on to manage China and Philippines.
2024 - In January 2024, Eriksson announced he had been diagnosed with terminal pancreatic cancer. Three months later, he fulfilled a lifelong dream of managing Liverpool in a legends match at Anfield, before passing away in August.
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