Former Chelsea and Ghana Black Stars midfield powerhouse, Michael Essien is facing financial ruin as his two luxurious properties in Accra are set to be auctioned.
The sale was mandated by the Deputy Sheriff of the High Court (Commercial Division) on June 12, 2024, following a recent court action which the former midfielder lost.
The properties affected by the court decision includes two prime properties located at Stephen Quarshie Crescent, East Legon (House Number 9), and House Number 204/205 in the prestigious Trassaco (Phase 2) Adjiringano area in the rich suburbs of Accra.
The forced sale of his properties is a direct consequence of legal actions taken by creditors to recover the outstanding debts.
The East Legon property, situated in one of Accra’s most sought-after residential areas, and the expansive Trassaco estate, symbolize the peak of luxury living in Ghana.
An anonymous auctioneer disclosed that the value of one of these properties is estimated to be between $20 million and $30 million, highlighting the significant financial stakes involved.
The root of Essien’s current financial woes lies in substantial loans taken from various banks and financial institutions in Ghana.
These loans, which the former football star has struggled to repay, have led to the court’s intervention.
The auctioning of Michael Essien’s properties in East Legon and Trassaco marks a significant chapter in the life of one of Africa’s football icons.
As the properties go under the hammer, it remains to be seen how Essien will navigate his financial recovery.
Michael Essien, affectionately nicknamed “The Bull” or “The Bison” for his robust and relentless playing style, enjoyed a glittering football career.
Essien’s journey began at Bastia in France before he moved to Olympique Lyonnais. His prowess on the field caught the attention of Chelsea, where he became one of the highest-paid players in the Premier League.
His time at Chelsea was marked by numerous accolades, including Premier League titles and a UEFA Champions League trophy.
Following his successful stint in England, Essien played for other top European clubs, including Real Madrid and AC Milan.
His ability to dominate the midfield with his physicality and skill earned him respect and admiration globally.
After retiring from professional football, Essien’s transition into business and investments has not been as smooth.
Despite his significant earnings during his playing days, the financial pressures have evidently taken their toll.
The sale of his properties is a stark reminder of the challenges many Ghanaian and African footballers face in managing their finances post-retirement.
