Stan Collymore is suing financial advisers, claiming their professional negligence cost him almost £1 million.
The 36-year-old from Cannock, now forging a career as a football pundit, is taking court action against financial adviser Interlink Premier Network which went into administration in 2004.
He is also suing financial adviser Mark Francis who trades as Chase Independent Financial Advice and is fighting the action.
Collymore's agent Paul Mace said today: "We can confirm that Stan is taking court action in connection with these matters but at this time - pending the outcome of the proceedings - we are not able to comment further."
Chase Independent Financial Advice are based in Cannock. A woman at the offices said today: "You will have to talk to Mr Francis about this court case and he is not available to comment at the moment."