Liverpool defender John Arne Riise has been declared bankrupt by the courts for an unpaid debt of around £100,000.
The Norway international, who earns around £50,000 a week, was declared bankrupt at Liverpool County Court.
Riise is listed as a bankrupt on the government's Insolvency Service website at
www.insolvency.gov.uk. Legally a bankrupt is a person who has debts they cannot pay.
It names John Arne Riise, gives his address, but fails to list his occupation, giving the status as 'Currently Bankrupt'.
Riise, 27, is involved in a legal battle with his former agent, Einar Baardsen, over how his fortune has been invested. Baardsen stopped representing the player in 2005.
The case is reported to be linked to an alleged £3 million fraud investigation currently going through the courts in Riise's native Norway. It is understood Riise may be liable for debts incurred from failed business enterprises, including a hotel.
Sources say the player may not even have been aware he was being taken to court at the time - as he was away on international duty with Norway.
It is understood the bankruptcy order was made after a debt of around £100,000 was not paid.
The debt was liable to be paid by him out of the legal dispute in Norway.
The footballer's solicitors are understood to be preparing to go back to the court as early as Monday to have the bankruptcy order annulled.
A source close to the player said: "There was a bankruptcy order issued at Liverpool County Court but it is an oversight that the issue even came to court and the matter is now in the hands of his solicitors treating it as a matter of urgency.
"They are confident the issue can be resolved in the near future."
Riise left Monaco to join Liverpool for £4 million in the summer of 2001. He signed a new contract last January that keeps him at the club until 2009.
