Is divorce the final whistle for Ryan Giggs?
In his current divorce proceedings against his estranged wife, Stacey, Ryan Giggs is arguing that, as a successful professional footballer, he made a “special contribution” to their combined wealth. If he is successful with this argument, he may be able to persuade the court to deviate from the usual legal starting point for divorces, whereby the divorcing couple receive a 50:50 split of matrimonial assets.
We are still waiting to see whether the Court agrees with the former Welsh international player’s arguments. However, the English Courts have recently decided that a Russian billionaire, who had built up a financial empire with a value in excess of £1 billion, had not made a “special contribution” to the couple’s combined wealth.
Although the Russian billionaire's wife had never worked in the business that the husband had built up, the judge concluded that the couple had made “equal contributions to the welfare of the family”.
We will have to wait and see whether playing professional football is to be regarded as a special contribution by the court, as building up an oil and gas empire was not!
At Bell Lax we can assist you in considering the whole of your financial entitlement when divorcing, whether or not you, or your spouse, is an international footballer, or a Russian billionaire.