Tennis legend Boris Becker was declared bankrupt by a bankruptcy court in London on Wednesday.
The six-time grand slam winner owed bank Arbuthnot Latham a large sum of money, but the court declared there was not enough credible evidence that Becker could repay the historical debt.
Becker lawyers argued for an extension, saying he was about to remortgage a property in Majorca, which would more than cover the debt. But the court ruled against Becker.
The German released a statement showing his disappointment with how the debacle was handled.
"This order relates to one disputed loan which I was due to repay in full in one month's time," he said.
"It is disappointing that my request for today's hearing to be postponed until this time was refused. My earnings are well publicised and it is clear that I have the means to repay this debt.
"The value of the asset in question far exceeds the debt owed to Arbuthnot Latham."
Becker spent three years coaching former world number one Novak Djokovic, helping the Serb to a career grand slam.
Boris Becker to Novak Djokovic pic.twitter.com/RM2vYhRWD2
— James (@AHagwanska) June 21, 2017