NewStats: 3,261,353 , 8,173,753 topics. Date: Wednesday, 28 May 2025 at 10:45 PM 704s1j

Two mansions belonging to former Chelsea and Ghana midfielder Michael Essien are reportedly set for auction following a court order from the Accra High Court.

The sale was ordered by the Deputy Sheriff of the High Court (Commercial Division) on June 12, 2024, following a recent court ruling against the former midfielder.

The Daily Guide reports that the properties are located at Stephen Quarshie Crescent, East Legon, House Number 9 and House Number 204/205, Trassaco (Phase 2), Adjiringano, all in Accra.

The report also mentioned that one of the properties is valued between $20 million and $30 million.

Essien’s current financial troubles are due to large loans he took from different banks and financial institutions in Ghana, according to Africa Soccer.

During his playing days, 41-year-old Essien played for top clubs such as Chelsea, Real Madrid, AC Milan, and Lyon.

https://www.vanguardngr.com/2024/06/ghanaian-court-orders-auction-of-michael-essiens-properties/

Man uselessed his money and wealth on frivolity.

For someone talkative played for Chelsea and madrid, why did he take huge loans and what did he use the loan for?

How?
No be SportyBet ambassador?

Can’t be true

Somebody destined for poverty, even football wealth will not rescue him, how will somebody, who played for top clubs and earned big money at a time when footballers are earning massively still borrow unreasonably to the extent that he couldn't repay the loans

Gambling, womanizing, drugs or he was duped

DonFreshmoney:
Man uselessed his money and wealth on frivolity.

For someone talkative played for Chelsea and madrid, why did he take huge loans and what did he use the loan for?

What if he spent the money on some investment and did not work out

I need to understand. Does it mean the dude is broke?.

Unbelievable!!!

I'm surprised. This guy had a very long career at the top top level.

I no dey pity professional footballers sha. Some of them are the worst set of people to be friend with.

Musa can never be poor Again

The guy get Igbo sense combined with Yoruba brain

Since I stop gambling and start using my money to buy clothes and foods I discovered that my money no dey finish for my again am now looking fresh and neat. Ogun kill who introduce betting. Is better to spend ur money lavishly than play bets

He's completely broken.

sleek214:
I need to understand. Does it mean the dude is broke?.

Na to call Drogba for small change na

RighteousDemon:
How?
No be SportyBet ambassador?

Can’t be true

A good ambassador for sportybet, failure.

verifiablefacts:


A good ambassador for sportybet, failure.

But realistically, I don’t think he’s broke. May likely be disagreements.

Freshtruth:
Since I stop gambling and use my money to buy clots and foods I discovered that my money no dey finish. Ogun kill who introduce betting. Is better to spend ur money lavishly than play bets

u are my seconde self i want stop that tin, so that i go use my money chop food and buy clothes

May he find his feet back

RealityKings:


What if he spent the money on some investment and did not work out

How can you lay all eggs in one basket?

jasent:

How can you lay all eggs in one basket?

By carefully arranging the eggs one by one in the basket...



So you think essien doesn't have other investments?

RealityKings:


By arranging the eggs one by one in the basket...

So you think essien doesn't have other investments?

But you attributed his financial worse to wrong investment

What really happened

betting. Sportbet gave him some money as their ambassador. Unfortunately, the money was given to him in his sportbet . The guy began to get with it. The money was exhausted. Then he began to take loans to bet.
Betting is evil

RighteousDemon:


But realistically, I don’t think he’s broke. May likely be disagreements.

He said it was a good financial decision. He bought the house on a mortage for the wife which he stopped paying for because of recent high increase in the cost. He ed the decision to sell the house and get his share of the sales back to buy another property in a cheaper location.

https://mobile.ghanaweb.com/GhanaHomePage/SportsArchive/Bought-on-mortgage-managed-by-his-wife-Saddick-Adams-reveals-details-of-Michael-Essien-s-housing-case-1936216

opes:


He said it was a good financial decision. He bought the house on a mortage for the wife which he stopped paying for because of recent high increase in the cost. He ed the decision to sell the house and get his share of the sales back to buy another property in a cheaper location.

https://mobile.ghanaweb.com/GhanaHomePage/SportsArchive/Bought-on-mortgage-managed-by-his-wife-Saddick-Adams-reveals-details-of-Michael-Essien-s-housing-case-1936216

Better. Now I understand. He still has equity on the properties. Smart man, smart move

RighteousDemon:


Better. Now I understand. He still has equity on the properties. Smart man, smart move

.

Very smart. He is not at a loss. The bloggers just reported half story to attract traffic.

opes:
.

Very smart. He is not at a loss. The bloggers just reported half story to attract traffic.

True bro. Thanks for the update

I smell something fishy, where are his Lawyers? And what did they argued upon?

Nawa

Loan for what? An international player who played for big clubs, what did he use his money for?

Morbeta11:

Two mansions belonging to former Chelsea and Ghana midfielder Michael Essien are reportedly set for auction following a court order from the Accra High Court.

The sale was ordered by the Deputy Sheriff of the High Court (Commercial Division) on June 12, 2024, following a recent court ruling against the former midfielder.

The Daily Guide reports that the properties are located at Stephen Quarshie Crescent, East Legon, House Number 9 and House Number 204/205, Trassaco (Phase 2), Adjiringano, all in Accra.

The report also mentioned that one of the properties is valued between $20 million and $30 million.

Essien’s current financial troubles are due to large loans he took from different banks and financial institutions in Ghana, according to Africa Soccer.

During his playing days, 41-year-old Essien played for top clubs such as Chelsea, Real Madrid, AC Milan, and Lyon.

https://www.vanguardngr.com/2024/06/ghanaian-court-orders-auction-of-michael-essiens-properties/

If the two buildings in Accra are successfully auctioned off to enable the banks recover the money loaned to him including the interests, then whatever amount is left after the auctions can be used to jump-start his life again. This is how a Nigerian multimillionaire of Yoruba descent that I know was able to bounce back after he couldn't pay back his loans to the bank due to some unforeseen investment headwinds. The bank simply auctioned the big house he used as a collateral and to his surprise, the value of the property had appreciated beyond what it was before he got the loans. That was how he got the excess money after the sale of the big house and that money jump-started him to becoming a bigger and better multimillionaire again.


Due diligence is KEY before going into any business venture. Seek guidance always and don't try to show off by going into any fanciful investments YOU are NOT familiar with. I wish Michael Essien well after this brain reset he would have experienced.

This man fraternized with Flamini, Saha and Lebouf! People that used their football salaries to become big billionaires and still ended broke from debts?? In the end, water will always find its level. If you like rob & guy the United States treasury dept, if you don’t have the sense to grow wealth you will grow poor.