Former SFA Chief Executive Gordon Smith has declared himself bankrupt with debts of £644,411.
Smith was CE of the SFA for three years, stepping down in 2010 before returning to football as part of Craig Whyte’s Ibrox dream team in 2011 before being one of two redundancies when the club went into administration.
News of Smith’s bankruptcy will shock Scottish football where he had cultivated the image of being a successful businessman and media pundit. Following his playing days he set up a successful football agency with Kenny Miller one of his top clients taking the Scotland striker from Hibs to Rangers then on to Wolves.
Smith worked extensively for the BBC before  switching to the SFA in 2007 where he outlined his ambitions showing his trademark confidence.
He said: “I didn’t have to take this job on. I am doing it on the basis that I feel very privileged to be offered, but even to be approached was fantastic. “I’m delighted and honoured that I’ve been given this job. It’s a big position, I’m a patriotic Scot and I want to see Scottish football flourish.”
Smith’s time at the SFA was highlighted by the disastrous appointment of George Burley, the boozegate controversy involving Barry Ferguson and the failure of the SFA to properly licence clubs leading to the administration and liquidation of Rangers.
Ironically Smith returned to football at Ibrox where he is best remembered for his attempts to  cultivate the Indian and Brazilian markets before being made redundant. Smith has been a regular pundit for ESPN this season but with the US-based station scaling down their operations it’s likely that Smith will return to BBC Radio Scotland.
According to today’s report in the Daily Record Smith applied for bankruptcy last December and has resigned from all his company directorships.
A typical graduate of the Rangers school of economics
He filed for moral bankruptcy years ago.
Where is his pride ? He clearly owes people money and takes the cowardly and lazy way out.
People like him who build up debt and owe people money should be ashamed of themselves.
You see him in still out in restaurants in Glasgow, so he must have money somewhere.