Sir Bradley Wiggins faces the prospect of selling the trademark to his own name as claims against the bankrupt cycling legend’s estate have soared to almost £2million.
The 44-year-old Olympic champion and Tour de France winner was declared bankrupt over the summer after entering into an Individual Voluntary Arrangement (IVA) to settle his debts.
Auditing firm MHA has revealed that interested parties are now discussing the potential sale of his trademarks, which include ‘Bradley Wiggins’, ‘Wiggins’, and ‘Wiggo’.
The former cycling star, who was once worth £13m, has seen his financial troubles mount significantly in recent months.
Sir Bradley Wiggins faces the prospect of selling the trademark to his own name as claims against the bankrupt cycling legend’s estate have soared to almost £2million
PA
According to documents filed with Companies House, Wiggins’ image rights firm, Wiggins Rights Ltd, initially faced claims totalling nearly £1m.
Among his debts was a £300,000 tax bill owed to HM Revenue and Customs.
In a recent progress report, MHA’s Georgina Eason revealed the total claims had increased substantially.
Sir Bradley Wiggins has admitted he ‘should have paid more attention’ to his finances
PA
“During the period under review, the directors IVA has been terminated, and a bankruptcy petition has been granted. I have submitted the company’s increased claim in the bankruptcy proceedings to the sum of £1,976,157.73,” the report stated.
MHA’s report indicated active discussions regarding the sale of Wiggins’ trademarks.
“I have identified that the company holds the legal title to a small number of trademarks. During the period under review, my agents have identified an interested party and are presently seeking to discuss a proposed sale,” Eason wrote.
READ MORE:Mike Tyson lands new job with disgraced figure just days after Jake Paul boxing fight
Sir Bradley Wiggins won five gold medals at the Olympics during his cycling career
PA
The trademarks in question include the cycling champion’s full name ‘Bradley Wiggins’, as well as ‘Wiggins’ and his popular nickname ‘Wiggo’.
The potential sale of these personal trademarks represents the latest development in the former Olympian’s ongoing financial difficulties.
Speaking on Lance Armstrong’s podcast, Wiggins admitted he “should have paid more attention” to his finances during his career.
LATEST SPORTS NEWS:
The cycling legend, who was knighted in 2013, has seen his circumstances change dramatically in recent years.
Reports from June indicated he was ‘sofa-surfing’ after the £975,000 barn he previously shared with his ex-wife Cath and their children was repossessed and sold by a building society.
“I’m in this situation now but because of the mess that’s been created,” Wiggins said, adding that his financial troubles had ‘been rumbling on for quite a few years’.
In September, he returned to cycling for the first time in nearly three years, offering fans £50 rides across Staffordshire.