For the past five years, dressing-room banter among the Premier League stars has focused on how to jump on the bandwagon of rising house prices and emulate the fortune amassed by shrewd soccer veteran Robbie Fowler from unglamorous investments which include a street of cheap terrace houses in Oldham. But now the talk is of tumbling values, collapsing development firms, the fallout of the Icelandic banking system and failed deals.

The Mail examines Wayne Rooney's investment in developments in Aldgate and Whitechapel, via the Formation Group, which specialises in advising wealthy sports and showbiz stars what to do with their copious cash. Building work is being funded by Iceland's Heritable Bank. The Aldgate building (above Aldgate East tube) is apparently under threat. Other footballers have invested in property in the US and Dubai, as well as a range of property for investment and personal use closer to home. But it's not the footballers who are taking the property crash to heart the most. How about former super-middle weight world champion Glenn Catley, who doesn't sound too impressed with financial advice from well-known property investor Jonathan Power.

I'd like to rip Power's head off and spit in the hole.

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