A former Bolton Wanderers player who played for the club from the Premier League has declared bankruptcy after racking up almost £200,000 total debt.

Danny Guthrie had borrowed £75,000 from a friend to help him pay his household expenses, as well as racking up £120,000 in gambling debts, a statement from government department The Insolvency Service said.

Having promised to repay his friend the £75,000 with funds raised from selling a property, Guthrie received £160,000 in equity from the property, but instead chose to repay his gambling debts.

Guthrie played for Wanderers in the 2007/08 season, playing 25 matches in the Premier League.

Having started his career at Liverpool, he went on to play in the Premier League for Newcastle, as well as other teams in the Football League including Blackburn Rovers.

On May 18 this year, his Bankruptcy Restrictions Undertaking, an order which is given if someone is bankrupt and the receiver thinks you’ve been dishonest or to blame for your debts, was accepted by the Secretary of State and will run until May 2028.

A statement from The Insolvency Service said: “In May 2019, Danny Guthrie borrowed £75,000 from a friend to help him pay his household expenses, promising to repay the loan with funds raised from selling a property.

“However, prior to selling the property Guthrie racked up gambling debts of £120,000.

“When he eventually sold the property in August 2020, receiving just over £160,000 in equity, he chose to repay his gambling debts ahead of other creditors by making several cash withdrawals despite knowing he was insolvent.”

The statement added: “Danny Guthrie accepted a six-year bankruptcy undertaking, which runs until May 2028.

“As a result, he is under a number of restrictions, including not being able to borrow more than £500 without disclosing his bankrupt status, and he cannot act as a company director without the court’s permission.”

Kevin Read, official receiver at The Insolvency Service, said: “Danny Guthrie’s actions were deliberate in dissipating assets, at a time he was already insolvent, and to the loss of his creditors.

“This extension of bankruptcy restrictions should serve as a warning that the Insolvency Service will take action to tackle such financial wrongdoing.”