Investment Fraud in Sport Panel

A Cross-Party Parliamentary Initiative

The Investment Fraud in Sport Panel is a cross-party parliamentary initiative examining investment fraud, financial mis-selling, and systemic financial harm affecting professional sport and athletes.

Athletes generate enormous value for the UK — contributing billions to the economy, inspiring communities, and strengthening our global sporting reputation. Yet many have been left financially exposed, targeted by fraudulent schemes, mis-sold investments, and complex arrangements that later result in devastating consequences.

Too often, those misled have faced great harm — including bankruptcy and long-term financial distress — while perpetrators and promoters of fraud have avoided accountability.

This panel exists to change that.

What We Are Doing:

•⁠ ⁠Delivering a Parliamentary Report

We are gathering evidence to produce a formal parliamentary report on the scale, causes, and impact of investment fraud in sport.

The report will:

-Set out how fraud and mis-selling have operated in sport

-Examine the scale of harm to athletes, families, and communities

-Identify failures in governance, regulation, and enforcement

-Make clear recommendations for Government, regulators, and sporting bodies

The report will also help sports governing bodies better understand the issue and what they can do to strengthen safeguards, education, and early intervention.

•⁠ ⁠Calling for a New Specialist HMRC Unit

We are pressing for the creation of a dedicated sports-focused unit within HMRC.

This specialist unit should:

-Have a strong understanding of sport and athlete careers

-Distinguish between deliberate fraud and individuals mis-sold schemes

-Address historic cases linked to mis-selling and abusive arrangements

-Focus enforcement on perpetrators, promoters, and repeat offenders

-Prevent repeat abuse through intelligence-led action

-Operate with clear checks and balances to ensure fair and consistent outcomes

•Establishing a Working Party on Historic Harm and Athlete Protection

We are establishing a cross-sector working party to examine the long-term impact of fraud and financial mis-selling in sport.

The working party will consider:

-How historic victims have been affected

-What safeguards were missing or ineffective

-What support is needed for athletes facing acute financial crisis

-What early-warning systems and protections are required

Its work will inform recommendations on whether a dedicated independent body is needed to:

-Address legacy harm

-Coordinate appropriate support pathways

-Improve safeguarding and early intervention

-Prevent future exploitation

•⁠ ⁠Calling for a DCMS Inquiry

We are urging Government to launch a DCMS-led inquiry into investment fraud and financial exploitation in sport.

The inquiry should examine:

-How widespread the issue is

-How many individuals have been affected

-The scale and nature of the harm caused

-Where systems have failed

-What reforms and support is required to protect athletes and restore confidence and help those affected rebuild and recover

Why This Matters

Financial abuse in sport is not a personal failure.

It is often the result of systemic exploitation, mis-selling, and weak safeguards.

By shining a parliamentary light on this issue, we aim to:

-Protect current and future athletes

-Stop repeat offending

-Improve governance and oversight

-Restore trust in sport

Get Involved

If you are an athlete, former athlete, family member, expert, or organisation with relevant experience, your evidence can help inform this work.

While we cannot provide individual advice or case support, experiences shared may contribute to:

-Parliamentary briefings

-Policy recommendations

-Calls for reform and improved protections

What We Don’t Do

To be clear about our role, the Investment Fraud in Sport Panel:

-Does not provide legal, tax, or financial advice

-Does not take on or manage individual cases

-Does not investigate or determine liability

-Does not replace regulators, law enforcement, or sporting bodies

-Does not provide emergency funding or direct financial support

As an All-Party Parliamentary Group commitee, our role is to gather evidence, scrutinise systemic failures, and press for policy, enforcement, and structural reform.

A Call to Action

This is more than a crisis—it is an opportunity. The UK has a unique chance to lead the world in protecting athletes from financial harm. By acting now, we can build a world-class framework that ensures the individuals who give everything to their sport are no longer left vulnerable and unheard.

Together, we can end the silence, seek support for those in crisis, and make athlete financial protection a national priority.