Africa-Press – Zambia. Former South African football star Lerato Chabangu, who is now poverty stricken, has said that he used to spend as much as R30 000 per day when he was playing for South African football giants Mamelodi Sundowns.
Chabangu’s investments and assets, including two homes and several luxury vehicles, have been liquidated to cover his debts, leaving him in financial ruin. Chabangu appeared in a recent episode of the popular show, I Blew It, which airs on the pay TV channel Mzansi Magic.
I Blew It is a program that profiles the stories of individuals who once had access to a significant amount of money but ended up recklessly spending all away.
Chabangu said when he was at Sundowns, he had so much money he had no idea what to do with it. “I would give them R5 000 and say; ‘Buy groceries, you’ll figure out what to do with the rest,” Chabangu said on the show.
“I was a young man with so many zeros in my bank account. I would go out drinking with friends, my cooler box was always full. One moment we’re in Soweto, the next thing we’re driving to Pretoria.
“Next thing, we’re taking a trip to Durban, then Bloemfontein, we would get there and party with girls,” revealed Chabangu, who also bought himself a fleet of luxury cars including a VW Golf 5 and an Audi S3,” he revealed.
“I had so much money, I was burning a hole in my pocket. There were so many zeros, I decided to spoil myself.”
On social media, Chabangu’s story has been used as example of how the lives and careers of football players can be wasted if they do not invest properly while they are still active.
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