A former midfield maestro for Chelsea and the Ghana Black Stars, Michael Essien is on the verge of financial collapse as his two opulent residences in Accra are scheduled for sale.
On June 12, 2024, the Deputy Sheriff of the High Court (Commercial Division) ordered the sale in response to a recent legal dispute in which the former midfield player was unsuccessful.
Two notable houses in the affluent Trassaco (Phase 2) Adjiringano neighborhood of Accra's wealthy suburbs, Stephen Quarshie Crescent, East Legon (House Number 9), and House Number 204/205, are among those impacted by the court's ruling.
The court actions creditors took to recoup the unpaid debts directly led to the forced sale of his properties. The vast Trassaco estate and the East Legon property, which are located in two of Accra's most sought-after residential neighborhoods, represent the pinnacle of opulent living in Ghana.
An unnamed auctioneer revealed that one of these homes is expected to be worth between $20 million and $30 million, emphasizing the tremendous financial stakes involved.
Essien's current financial troubles stem from large loans from numerous Ghanaian banks and financial entities. These loans, which the former football star has struggled to repay, prompted the court to intervene.
The auction of Michael Essien's estates in East Legon and Trassaco is a watershed moment in the life of one of Africa's football legends. It is unclear how Essien would negotiate his financial recovery while the assets are auctioned off.
Michael Essien, affectionately known as "The Bull" or "The Bison" for his muscular and aggressive playing style, had a dazzling football career. Essien's adventure began in Bastia, France, before moving to Olympique Lyonnais. His talent on the field drew the attention of Chelsea, who made him one of the highest-paid players in the Premier League.
His career at Chelsea was distinguished by multiple accolades, including Premier League crowns and a UEFA Champions League trophy. Essien went on to play for big European clubs such as Real Madrid and AC Milan after his successful stay in England. His ability to dominate midfield with his toughness and technique garnered him respect and affection worldwide.
Essien's move from professional football to business and investments has not been as seamless. Despite his high earnings during his playing career, financial stresses have clearly taken their toll.
The sale of his assets serves as a sharp reminder of the financial hardships that many Ghanaian and African footballers confront after retirement.
