Gordon Smith “Family love will see me through”

Former SFA supremo Gordon Smith has revealed that losing his job at Rangers was the “final straw” that forced him into bankruptcy.

The Rangers legend, who stacked up £644,411 of debts, has spoken openly about the strain of his financial problems and admitted he has already lost his home to pay off creditors.

He said the “economic climate” was central to the collapse of his business investments.

However, it was the loss of his role as Director of Football at Rangers that proved fatal to his finances.

He chose to leave without being paid, even though he knew the true cost it would likely have for him and his family.

Smith, 58, has also had to endure the embarrassment of having his bankruptcy highlighted in the media.

He has hated every moment of it but said the awful situation has proved what really matters in life the love and support of family and friends.

Speaking exclusively to The Sunday Post, he said telling his family he was broke was one of the hardest things he’s ever done but added that their love has helped him cope.

He said: “I’ve been living with this problem for over a year. I tried my best to avoid bankruptcy. This was the last thing I wanted.

“I sought professional advice and was told that this was the cleanest and most honest way to deal with it.

“Like many people I’ve suffered from investments going wrong because of the poor economic climate.

“Everything was going well for a spell and I didn’t see it coming. That’s why I suffered.

“I was continuing to manage to cover my debt but losing my job and income at Rangers was the final straw.

“Rangers asked me to go. I never received a penny for going even though I had financial problems.

“I didn’t ask for money either. I knew they were in administration and there were going to be a lot of people going. I felt it was the right thing to do.

“Telling my family about my financial problems was very hard but they’ve been fantastic.

“All this has shown me that the love and support of your family is more important in life than money.”

The dad of three said it is horrible knowing his children won’t benefit from the money and assets he hoped to pass on to them.

Worst of all, the family has had to face the heartbreaking reality that their £500,000 home in Newton Mearns will be sold off to pay creditors.

However, he is at least able to take some solace in the fact that he and wife Marlene have raised their children to be independent and successful individuals.

The couple’s son Grant, 32, has carved out a career as a football agent while daughter Libby, 24, has had a career as a singer and fitness instructor.

Eldest daughter Leigh-Anne, 31, is a full time mum to son Xavi, 4, but is looking to go back to work now her wee boy is a bit older.

Gordon is full of pride as he discusses their achievements and what they mean to him.

He said: “My three kids are all doing well in life. I’m proud of what they’ve achieved.

“I’m disappointed I’ve taken away their legacy because they won’t get the money I made.

“I’ve always tried to be successful and support and help my family.

“I’m sorry that legacy is gone even in terms of my house but it’s fortunate for me that they can all take care of themselves.

“I’ve been touched by how supportive they’ve been.”

The greatest support, as you might expect, has been the love of his wife Marlene.

The couple celebrated their 35th wedding anniversary this year.

He said: “Marlene has known from the start what was happening and has been a huge support.

“We’ve been together since I was 19. She’s been there through the good times and this, our first bad time.

“She‘s been great and has kept my head up when I’ve felt low.”

Smith has been involved in a long list of companies over the last 15 years and has held 18 directorships since 1997.

However, he has since resigned from all his positions on boards and closed down all his businesses.

He was sequestrated through Scotland’s official Accountancy in Bankruptcy agency in October.

In the eight months since, he has had to dust himself down and get his life back on track.

He said: “It was a strain beforehand having to deal with my bankruptcy and it’s a strain now having to deal with it being public knowledge.

“I always felt it was a private matter but given my position it was difficult to do that.

“Many people I know, both friends and contacts, have suffered in a similar way. I don’t feel unique in any sense.

“When you consider the terrible circumstances some people have to deal with regarding crimes against their family then it puts bankruptcy into perspective.”

Smith also said his situation had shown him who his true friends are.

He said: “Now that my friends have been made aware through the media the responses and support I’ve received have been incredible and I’ve been really touched by it.

“They always say you know who your friends are when you’re at a low ebb.”

Despite the difficulties he’s faced in the last year, the former striker remains positive.

He said: “I’m not the type of person that would think ‘oh well, that’s me finished’.

“I’m a positive person and I’m going to go on to new things.

“One of the great aspects of the last year has been writing for The Sunday Post. I’ve had a great response to my articles and I always try to be honest with my opinions on the game.

“You never know what’s in front of you. The SFA job and the Rangers job were both unexpected. I’ve been approached about other jobs since then that I haven’t moved on but you never know what’s going to come along.

“I’m hopeful that I’ll turn things around.”