England ‘yahoo boys’ scams Southgate and others of £25m in property deal
England manager Gareth Southgate is one of several former England players owed money by agent Terry Byrne, who invested the manager's cash without his permission as part of a disastrous £25million property deal.
Mail Sport can reveal Byrne also used money belonging to Joe Cole and Glenn Hoddle without telling them, as well as fees owed to Michelin-star chefs represented by his agency 10Ten Talent.
The purchase of giant new offices in central London last year has left some of Byrne's businesses facing the threat of liquidation amid significant debts to clients, with England boss Southgate, Cole and Hoddle owed huge sums.
Byrne remains on good terms with Southgate, but FA sources have told Mail Sport their professional relationship is likely to end due to the fallout from the missing money.
The boss appointed Byrne as his agent when he was Under 21s manager in 2016 and Byrne, 57, has since negotiated three new contracts with the FA on Southgate's behalf worth almost £20m, earning large commissions in the process.
Southgate and the other former players have spent months trying to regain their money after they were late in making payments owed from sponsorship deals and commercial work.
The hugely experienced sports agent, who previously managed David Beckham and Pele, has admitted investing money without their consent and is seeking to repay them.
In a statement to Mail Sport, Byrne said: 'We are working with the talent regarding the repayments. The most important thing to me in all of this is that they are repaid fully.'
Byrne has enjoyed a successful 30-year career in football, representing some of the sport's biggest names, but this may now have been jeopardised by his ill-fated property deal.
His parent company Round World Group borrowed £21m from the Topland Group to buy a six-storey building near London's Oxford Circus last year, as well as taking out a £5m VAT loan.
Byrne had also lined up significant investment from fund manager Saaz as part of an expansion - but the American firm withdrew, triggering a financial crisis.
