Steven Gerrard finds himself navigating a troubling turn in his post-playing career as a business venture he heavily backed has collapsed under significant debt. The famed Liverpool legend, along with fellow investors, reportedly poured £2.5 million into Angel Revive, a spring water company founded by his friend Mark Doyle. However, the venture has now been forced to shut down, amassing debts amounting to £542,220, of which nearly £400,000 is linked to unpaid rent.
Gerrard held a 25 per cent stake in Angel Revive and reportedly recovered only £50,000 of his investment, leaving a substantial loss on the books. As a brand ambassador for the company, he was actively involved in promoting the water, which was touted as 'the superhero of waters in purity, nutrition, and healthiness.' Sourced from a natural spring in rural Lancashire, the water was marketed as containing essential minerals and electrolytes aimed at promoting wellness while maintaining an optimum pH balance.
The company, which had managed to amass an Instagram following of over 34,000 users, has not posted since December 2021 and is now marked as 'permanently closed' on Google. The end of Angel Revive has been punctuated by financial difficulties that have plagued the company for years. In October 2020, reports suggested that the business was already facing debts nearing £1 million. Accounts reveal that the firm had minimal assets, leading to concerns about its sustainability in a competitive market.
Mark Doyle, who unearthed the spring on his property, was optimistic about the water's healing properties, claiming it had been the subject of folklore and admiration for centuries. However, he had also tempered expectations by stating, "We do not claim our water can heal you - the belief is your own." His efforts to extract and bottle the water began after he discovered the long-buried spring, with hopes of revitalising an age-old local resource.
While Gerrard's involvement in Angel Revive marks a sobering chapter in his entrepreneurial pursuits, his football career continues to unfold as he seeks new opportunities. Having recently left his managerial position at Saudi Arabian club Al-Ettifaq, he is reportedly on a shortlist for the Rangers manager's role. Gerrard had previously achieved remarkable success with Rangers, leading them to the Scottish Premiership title in the 2020-21 season. His stints at Aston Villa and Al-Ettifaq have been less fruitful, providing him with an impetus to re-establish his managerial credentials in Scotland.
Despite the setbacks in his business venture, Gerrard remains a prominent figure in football, evidenced by his participation in legends matches, such as the one held at Anfield against Chelsea Legends earlier this year. His financial investments and ventures off the pitch reveal a complex landscape of risk and reward that athletes must navigate upon retiring from active competition.
As Gerrard looks to the future, the challenges presented by Angel Revive serve as a stark reminder of the unpredictability of business ventures, particularly those tied closely to personal branding and relationships with friends. With aspirations to resume his managerial career, he will undoubtedly reflect on both the successes and failures that have marked his life beyond the field.
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Source: Noah Wire Services