Collymore in £1.5m cash payout

Former footballer Stan Collymore from Cannock today won more than £1.5 million in damages at the High Court from financial advisers who invested money he made from his footballing career.

The former Aston Villa and Liverpool striker was not at the High Court in London to hear Mrs Justice Gloster rule that the advice he was given was negligent and in breach of statutory obligations.

Mr Collymore, aged 37, who is now a football pundit, took action after he was advised to cash in his insurance policies and set up funds which later failed.

He sued Mark Francis, who traded as Chase Independent Financial Advice, and two other companies who are all now in liquidation. None of the defendants attended court. Mr Collymore first consulted Mr Francis in January 2001, the year he retired from professional football. David Guy, representing Mr Collymore, said the costs of the action amounted to nearly £600,000.

The victory is the latest colourful chapter in his life. The Talk Sport pundit has appeared on reality shows including The Verdict and The Farm since retiring six years ago but has also hit the headlines for controversial aspects of his private life.

Mr Francis refused to comment today.