John Arne Riise has been declared bankrupt by Liverpool County Court for an unpaid debt of around £100,000.
Riise is facing a fight over how his fortune has been invested
The Liverpool defender, who is thought to earn around £50,000 a week, is involved in a legal battle with his former agent, Einar Baardsen.
The case is reported to be linked to an alleged £3m fraud investigation going through the courts in Norway.
Riise's solicitors are believed to be preparing to go back to court to have the bankruptcy order annulled.