Bradley Wiggins has offered the most detailed insight so far into the financial troubles that led to a declaration of bankruptcy, suggesting the issues took hold during his racing career when he admits assuming money “was going to be there forever.”
Speaking on WEDŪ’s The Forward w/Lance Armstrong podcast, after being a guest commentator throughout WEDŪ’s Tour de France coverage, Wiggins said “One of the things I regret is I never paid attention to my financial affairs when I was racing.
Company structure and debts
“So connected to that I joined XIX Entertainment, Simon Fuller, in 2014. And they set up various joint ventures with various clubs and companies, drinks suppliers, all different things, whatever endorsements.
“Off the bottom of that, the third company was a cycling team called New Cycling Limited, which was Team Wiggins, which was a team was set up to facilitate the national track program, which was team pursuit, my last cycling career goal in Rio. That team should never have made a loss – it should never have made a profit it was purely to pay the riders of the team, their wages and handle the budget.